ROLLUP: CFTC's Attack On Crypto | FTX Offloading Billions | Live From Permissionless!

Bankless Nation, it is that time again for the weekly roll-up, and David and I are doing it from a special location again. Oh my god, I forgot to set you up, David. Let me let me ask you the official question.

Let's do it.

David, what time is it?

Oh, it's the Bankless Friday weekly roll-up, but it's happening on Thursday

Yes, it is

because we are on Wednesday, the third day of permissionless, here in the Kraken Booth on the floor of Austin, Texas. We have a live audience for the first time ever. It's a little bit intimidating. There's live

live studio audience.

bankless citizens, people in the bankless Dow all watching us as I speak these words right now. I don't know how I feel about that, but here we go.

You know what? We're just going with it. This is uh a fantastic setup that we have here at at uh permissionless 2023. Actually, permissionless two. Permissionless two is what they call it. And Kraken put this booth together for us. So extremely grateful for the hospitality. This is a professional setup.

Yeah, this is uh

Way better than my home office.

amateur shit, that's for sure.

I know. And uh so David and I are in person today, obviously. And we're here to bring you.

The weekly roll up

Alright. Topics of the week, David. What are we talking about, man?

uh the CFTC has joined the SEC in the fight against crypto. Oh wait, that's bad. That's a bad thing.

Yeah, I thought they were the good guys.

That's not great. Okay. Well, okay. There's more. FTX is about to sell a huge portion of their token holding. Should we? Oh, that's also bad. Oh no. Uh Ethereum Foundation just dropped a proposal on a native liquid staking. That's good. That's good. That's a good thing. And then finally, friend.tech, not dead yet. Okay, also good. Also good. I came back from Burning Man and I thought that Friends Tech would be dead, and it was like four times larger than I ever thought that it would be.

Is there some signal there?

Yeah. And then I my share price going into Burning Man was 0.7.

Dude, I don't want to hear about your share price and stuff.

And I came back from Burning Man, it was point two, and I was bad.

Well, that makes me happy. Sorry, David.

Then some uh some more bad news of the week. Vitalik's Twitter got hacked, uh X got hacked, some details around that, and how to protect yourself from Twitter and how to make sure that you actually might uh might be exposed. If you you might have your phone number in Twitter and you don't know about it. Uh so we're gonna talk about that.

One that I didn't know. Like if Italic can get hacked, then uh you know what about the rest of us? Um, David, uh, before we get into the chatter of the week, and I know we want to talk about permissionless even before we get to the markets. Uh we gotta do a shout out to our friends and sponsors over at before we get to markets, I think the people deserve an update on permissionless. Yeah. Okay, so let's talk permissionless. Um, it's been great so far.

We are we're on the second, the last third of the last day of permission, so it's coming to a close.

So do you want to tell me about uh some of your favorite talks so far? Let's start with the content.

I've done eight talks.

We've done eight talks

Uh excuse me, I have moderated eight panels.

Yes.

Uh so I'm racking up the content. How many did you get to?

Um I did one, David.

Eight to one.

Wow. Is

Anytime I'm asked

lower better or higher better?

Um, I don't it depends on whether you like to do lots of panels or not.

I love doing panels.

Okay, I don't. So anytime someone asks me to do a panel, I'm like, David, would you like to do this panel?

Wait, that's how I ended up with eight? Okay. That's it. I think that my favorite one was uh we did a Jesse Polluck and Ben Jones uh on chain is the new online uh conversation, which I mean we just had them on for the super chain, uh, but this was a net new episode, net new uh conversation. Uh and I I really enjoyed that one. That one felt really fun. And that one I actually just did not prepare for because I just know these guys and I just haunted in sphere.

What was the takeaway from that?

Um, so we have like on-chain is the new online. This is the new top of funnel uh for base. Base is kind of like base in the front, optimism governance in the back. We have the golden era of Web3 design happening around base. Like we're getting better at design for attracting new people to get them on-chain. And then we have retroactive public goods funding in the back. And so connecting that, those dots and filling in the gaps a little bit, and then talking about how this is a flywheel, right? More people coming in on base leads to more retroactive public goods funding, which makes base better as a part of the OP stack, which leads to more people coming into base. And this is all a flywheel that hopefully scales public goods out to the world. That is the TLDR of the conversation. Doesn't mean that you shouldn't also go listen to it. It's available on the YouTube, on Blockworks YouTube, not Banklets YouTube, actually.

Yeah, there's an you know, yeah um do you want to ask me what my favorite one was?

Sure, right.

It was it was actually the one that I I loved, and it wasn't because of me. It wasn't because of the moderator,

Yeah.

but the panel that um we got to do with the regulators. So it was Hester Peirce. I think we'll talk about it later in the episode. Hester Peirce, Brian Quinten, CFTC regulator, Tom Emmer,

Mm-hmm.

uh majority, house majority whipped. So we got a congr a member of Congress.

To come to our crypto conference. Uh, and then Kristen Smith, of course,

Of course.

and she's kind of a crypto lobbyist. And this honestly, it gave me some hope, David, because things are looking kind of bleak from a US regulatory perspective. And this gave me some hope. Uh, because these these people were fired up and they were ready to fight for crypto, and they have some power in DC to do that.

You say bleak, but it's definitely bleak with str strong notes of optimism.

Yeah.

Yeah. Uh the I think uh the comment that got the most applause was towards the end where Hester Pearce said, We don't even need to uh well I can't remember what she said the details but but the punchline was like the law is on our side. Yeah.

Yeah.

So we just have to, you know, make sure that the United States has this just runs by the rule of law and then we will be golden.

Yeah, absolutely. It's

It's nice having the law on your side.