ROLLUP: Is SBF Killing DeFi?? | Aptos Launch Down Bad | Ethereum Censorship Heats Up | Reddit Onboarding Millions

Hey Bankless Nation, happy third Friday of October, David! What time is it?

Ryan, it's the Friday Bankless Weekly Roll Up where we cover the entire weekly news in crypto, which is always an ambitious endeavor, yet we persevere nonetheless. Into the frontier with coffee. With your coffee, with your Friday morning coffee.

David, before the show you told me you had too much coffee. How much is too much for you, man?

Three cups.

Three cups? So is that what you had? Yeah before recording this?

Yeah.

And that's like before one p.m. three

Yes, that's three cups at before 11 a.m.

How do you know it's too much?

Uh I Yeah, you just kind of you just know it. You just feel a little bit jittery, yeah. A little bit uh manic, you know. You know.

People know.

I'm on my seventh cup, David.

That is insane. That is insane. I would die.

I think.

I would be I would have to like sit down on the ground and just wait for that to pass.

Sorry, seventh so far. I shouldn't limit myself. The day is still young. Yeah, I might have a problem. Anyway, happy weekly roll up. Just enjoy one cup of coffee, if you will. We're not encouraging more than that. Just one with your weekly roll up. David, we got a lot of hot topics this week. Number one, SPF. That is Sam Bankman Fried, the billionaire, super billionaire, founder of FTX. He's got some ideas on how to regulate DeFi. David, I don't love a lot of these ideas. How about you?

No, no, I don't I don't remember seeing him asking the rest of DeFi about thoughts about things. He's kind of going rogue on this one. Following SPF, Aptos, the newest layer one on the block from ex meta employees. Launched, but also flopped. We'll talk about that. Ryan, what are we coming in third?

Uh, Ethereum censorship. It's been a hot button topic. We did that episode with Justin Drake, but it is increasingly a hot button topic, particularly around relayers. We're gonna talk about what relayers are, flashbots, all of these things. And the big question I think for the Ethereum community is are we in a critical state? Or is this a nothing burger? Do we have to sound the alarm or not? So we'll get into all of these things. As always, make sure you like and subscribe wherever you are listening to, wherever you are watching. That gets us up to the top of the charts. David, before we get in, we have a message from our friends and sponsors at um all right, tell us about markets. Speaking of price, what's Bitcoin doing this week?

Uh nothing. Not really anything. Started the week at $19,150-ish dollars ending the week at $1,000-ish dollars so flat. Super flat.

Uh, I'll take it.

Yeah.

Better flat than down.

Yeah.

How about ETH?

Uh ETH, also flat, $12,800 or $12,800 currently. And that's where it started this week.

Is this another crab market? Is this like the summertime?

Yeah. So so when we recorded the last weekly roll up, it was like when we had like nuked down to like $1,200. And then as soon as we got done recording the weekly roll up, we bounced right back up to $1,300. Correlation. The $1,300 like number for Ether and like $1,900 number for Bitcoin is like super just a magnet, I guess. Like yeah, sticky.

Sticky right now, until something new happens.

Yeah.

What is that new thing gonna be? It's gotta be macro. It can't be in crypto. There's not much.

It's got

We're post-merge. What's the next exciting news in crypto? The happening?

there's a b there's that's the thing, there's like a bunch of exciting things in crypto. So no one can like have no one can focus on one meme 'cause there's like three different things and they're all like smaller than the merge.

A lot of smaller building going on. No like main chain uh major events here. How about the uh ETH Bitcoin ratio?

It's flat. It's flat.

Also flat.

Right.

That's actually not bad for ETH in the bear market, though. I mean, you'd expect during the bear market uh much more loss on the ratio, and we're not seeing it.

In history, yes. If you uh if you look back to history, yeah.

This is history. Look at this.

Yeah, yeah. That there's that ratio looks so good. Is it the problem is the ratio looks so good over like a almost coming up on three year time horizon now. So in order for that to like continue it looking good, like it's just gonna take 1.5 more years for that to like keep on going up. Anyways, long long term focus. Long term focus.

You know what I saw this week, David?

What what?

You have hashtag Bitcoin in your Twitter bio note right now.

I saw that.

There's a story behind that.

Do you have this story? Is this a story that is disposable?

No, it's not.

Yeah. Bitcoin shells paid David. That's what it means.

Chills, yeah.

Is that what happened? I think this is a private bet among friends that he made. That's my guess. Just the body language here. And maybe he lost. Okay. There are worse things to lose. Uh that's pretty funny though. David, David, the Bitcoin bull. Um, global crypto market cap. What are we looking at? Are we under a trillion?

Uh under a trillion, nine five six billion. Nine hundred and fifty six billion.

Okay, that's all is that also flat in the week? Yes. Neither up nor down.

It was a flat week.

Summary, flat week. Neither up nor down. Um housing. Mortgage rates are going up though. This is a tweet from Guinevere. Breaking 30 year fixed rate mortgages hit 7.15%. Also breaking the housing market.

It feels that way. 7.15%. I've never seen rates this high in my probably lifetime. My adult lifetime. I d

So what what what does this mean for me? I'm a crypto d person who bought a house during the bull market. You are

Own a house. Good job.

Okay. Thank you. Can I ask you? Uh did you buy that house or do you have is this a personal question? Do you buy that house or do you have a mortgage?

I have a mortgage. I p