ROLLUP: Ledger Recovery Concerns | Ethereum Finality Issues

Is your ledger safe or should you throw it down the toilet? Uh Ethereum, it's got a finality outage. Is it safe or should you also throw it down the toilet? We don't know.

Bankless Nation, it is the third Friday in May, and it's morning time on Friday or afternoon time or evening time.

30 PM.

Alright, well, it's a warning for me, David, and I can't wait to have you on the East Coast, but you're still in Montenegro. But okay, this intro is going long. We got something to tell him. It's time for the what?

Bankless Friday 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. It's gonna be a long one today, so I'm speaking fast.

Alright, that's good. Let's keep let's keep up that pace, David. Topics of the week. Did we just get rugged by Ledger, the hardware wallet? Or is this just mob season on Twitter? Is this Ledger getting canceled? That's uh number one. What else are we covering this week?

Ethereum's non-finality event. Is non-finality an event? Did Ethereum break or is it working as intended? We'll talk about that and more. And Gary Gensler continues to be in the hot seat. Nice. Uh Bedrock, WorldCoin, Dogecoin, plenty of things to talk about there. But bigly, most bigly, Nike's.swoosh program, a program that no one is paying attention to, which might be the coolest Web3 metaverse thingy thingy that got released that everyone else is just ignoring because we're we're busy canceling each other on Twitter.

That that was can't it was cancel week for sure. Uh maybe some of it justified though. We'll get into uh we'll get into the story. Definitely the bankless cancelship was uh was justified a little bit.

Those guys.

All right, David, what are the markets telling us this week, starting with Bitcoin?

It's flat. 27,300. Start of the week, end of the week. It's flat.

You did it you put the same number twice. I'm looking I'm looking at the the agenda here, which I print out by the way. Every week I print out so I can look down on paper. 27,300 is the start, and you have the current 27,300.

Same number. It can't be.

I know those are the same, but like, really?

I mean, give or take a few dollars.

But you just rounded it, huh? You just like it's flat.

How do you know?

It's that season.

You go check them out.

I don't know. I'm just trusting you. Every week I don't even look at it. I barely look at this, even though the charts are beautiful. Thank you, Kraken Pro, for these charts. I barely look at this. I just hear you tell me numbers each week. What is the ETH price?

1820. It was 1820 seven days ago. It's 1820 today. It's a flat week.

You know what? Something suspicious about these numbers. You're just copying and tasting, I think. ETH Bitcoin, the ratio.

Uh, flat.

Are you serious?

Of course it's not.

Do markets anymore.

Okay. Whatever.

And Bankless Nation, please uh open up your price checker apps, open up your Kraken app on your phone and check the crap price currently because it might not be flat. Who knows?

Yeah. Verify this for me.

Yeah.

With uh David.

Trust.

I I mean I'm sure this is for most bankless listeners. This is the first time they'll be checking prices this week, by the way. Like they just wait until uh we we prompt them.

People actually listen to the bankless podcast in order to hear about the crypto prices. They don't know the prices until we tell them.

It's a global source of truth for this. Uh we'll we'll tell them the uh market cap of crypto then while we're at it.

Coming in at a whopping $1.18 trillion. So I think we are up $60 billion from last week, marginally up. So some chitcoins got pumped. If Bitcoin is flat, Ether and flat, but the total crypto market cap is up.

You can't you can't call the rest you can't call everything non ether and and non bitcoin shitcoins, David.

I've just really

I think I just did.

I know and I feel like I should cancel you for that for saying that

Oh God.

uh

Beacon chain ETH supply it's all time highs.

Up. It's up.

This ain't flat. Um we're continuing to go up. Okay, what is so this chart is all time highs. How much ETH do we have deposited?

18 and a half million ether. Yeah. So if you zoom in real close, I think this is one of those charts where you can click and drag and it'll automatically zoom in. Uh and we can get real close.

Uh I can get you the month

for that.

Yeah, 18.5 million ether is deposited onto the beacon chain. It is going up faster than it has ever gone up before,

which is pretty cool.

A lot of people were wrong about this. They said uh post withdrawals it would be going down and it's not going down. It's going down.

Well, it went down for um not even two weeks. It went down for like 10 days. So here's a cool new website. I mean, actually, it's really boring. Uh it's actually a very boring website, but it's still

It's not you

there where there are five wine.

website I've ever seen.

Yeah, so this is Ethereum 2.0 validator queue, validator hyphen queue, hyphen monitoring. God, I'm not even gonna read that. There's a link in the show notes. It basically tells you two things.

Sucks, honestly.

Sorry whoever made this website. Extremely useful. It is basically uh a tug of war between the depositors and the validators, and it tells you who is winning that tug of war. So pending validators on the entry queue is at 55,000 pending validators. 55,000 uh pending dollars. If you want to make a new validator, it will take you 731 hours to get through that line. If you are a validator who would like to exit and stop being a validator, it will take you drum roll.

Four minutes.

Four minutes?