ROLLUP: Coinbase Insider Trading | Three Arrows Capital Speaks! | The Merge Approaches

Just remember, I'm the better looking one, of course.

No, I'm the one that that actually exists in real life, so

Yeah, David's the one that you're actually gonna see at a conference.

Hey Bankless Nation, happy last week of July. Summer is almost over, but happy Friday morning to you. We're gonna be drinking a cup of coffee as we enjoy the weekly roll up. We hope you are as well. David, how are you doing today?

Oh, absolutely fantastic, Ryan. Um some more for a three Aeros Capital Fallout. Uh we saw we said last week that it was probably coming, but

as far as it goes, that's like the only contagion stuff we have to talk about.

Sick. Because a lot of time we talk about three three hours capital.

Well, I don't know about that. But like the topics like Celsius seems to be over, Voyager's over. It's only through Arrows Capital that's left.

Alright. I'm getting some closure this week, hopefully. Uh we're also gonna be talking about Coinbase. An employee got arrested for insider trading.

Yeah.

You can be an insider trader at at Coinbase, and there's some fallout with the SEC uh and Coinbase that got into another tussle, and that even the CFTC is weighing in on this. We're gonna cover that as well.

Big drama. Big drama in the regulatory space. And the last test net, the last test net ever. This is the last step before the actual merge is scheduled. It's here. The Gorley Testnet is coming in the 6th to 12th of August. We don't know when, because it's uh set by a TTD number. We'll talk about that later. But Ryan, it's happening. The merge

happening.

Lights in the background. That's great. As always, guys, this comes at you every Friday morning. This is the best way to recap your week in crypto. Hope you're joining us. And uh make sure you like and subscribe. Please. If you are, so if you're on YouTube, make sure you like this video and subscribe to the channel. And if you are listening to this on podcast form, rate and review wherever you listen to your podcast. On Spotify, by the way, this is now in video version. We partnered with Spotify. They partnered with us. I don't know, what are the other? We now have bankless video capability on Spotify, which gives us another platform beyond YouTube. It's pretty cool. I enjoy it.

Yeah, if you're a uh Spotify listener, you can become a Spotify viewer. And then at the crypto conferences, people can stop mixing me and you up.

That's great. Just remember, I'm the better looking one.

Well, I'm the one that that actually exists in real life, so

Yeah, David's the one that you're actually gonna see at a conference. Like it so it's definitely gonna be David, alright? Um all right, all right David, let's get to the markets. Bitcoin, what's it doing?

Some good things. Uh Bitcoin started the week at $23,200, ending the week at $23,700. Up two and a half percent. Up two and a half percent. Nice green week. Green weeks, stacking on green weeks. We got I think green three green weeks in a row, right? Knock on wood. Knock on wood.

Happen?

Yeah.

That can happen during the barrel?

Hmm. It's allowed. But the bigger story was this one. What's this chart telling us? This is uh this is a Bitcoin chart again, but let me actually pull up the Ethereum chart. Yeah, we're gonna go.

Started the the week at 1570. We are currently clocking in at 1726. Wow. Up eight point seven percent. Uh was it was it last week that ETH was up thirty percent? I think it was. So again, just stacking your head screen to work. Oh, don't ask me to do that.

No, that's not how it works. You can't add you can't add percentages.

I know.

Yeah.

I didn't know that. Yes, I do.

I'd have to go back to the 14 day.

Right, right, right.

The good news is we're green, we're up, and we're heading in a good direction. Um, I think there's a story here. Uh d did you see it just like suddenly leap up?

Yeah.

I guess that was Wednesday on the day of recording. And that something to do with the Fed, actually. Jerome Powell

Yeah.

spoke that line, that nice green candle, into existence, I think. And we're gonna get to get to why that is in that story. But before we do, let's

Love to be able to speak green candles into existence.

go sorry.

You have to apply for the position of central banker, David.

Oh,

Do you want that job?

I'm out. No. No, I don't.

Sounds like a terrible job.

Sounds like an awful.

Like honestly, everyone hates you all of the time. Sorry, pal. ETH Bitcoin ratio, what's the ratio telling us?

Up six point two percent uh is up to point zero two. My ETH BTC trade finally coming back to parity.

Is that a real trade you made or is that

Oh really?

Yeah, I mean like I would do that by just h holding ETH over Bitcoin over the long time horizon, but like actually trading this ratio is like scary to me. Spooky territory.

I admire you, David. Have I told you that?

You're trading you're trading not your trading game. Uh we could always look at the ETH deep DPI ratio if um if you're curious about ratios. But how about the crypto market cap? Are we above a trillion this week?

Yeah, we're above a trillion. We were at one trillion last week. We are up to one point one three eight trillion. Uh the math is easy this week. We are up thirteen point eight percent.

Nice. Uh gas prices still down, honestly.

Uh gas prices like crazy low. 10. 10 Gway average Gway fee. You know what? You know what we'd be like super ironic, Ryan? What? Is if like we merge and there's no burn? Ether is not deflationary

No ultrasound money after all of this.

after all that. So like the the deflationary threshold is seven, and we are at 10.

Ah, we're just hanging on.

Or hanging on.

So um I don't know. What's so funny is

when transaction fees are high, people get bearish or because they're like Ethereum is not scaling. What's the matter? Transaction fees are so high. Now on the flip side, when transaction fees are low, they're like bearish again. No one's using Ethereum, David.

Yeah.