ROLLUP: TRON's Massive Win | Dems Ignore Crypto | The $20M McDonalds Scam | Vitalik's Bull Post

Bankless Nation, it is the fourth week of August. It is time for the Bankless weekly roll-up. It's roll-up time. David, the uh Democrats dropped their 90-page policy platform. I'm sure they're trying to get it. And they mentioned crypto

How many times

Yeah. We're not gonna spoil it, okay? We gotta get it. We're not gonna spoil every

Everyone guess your number.

Think of a number right now. How many

time.

is crypto mentioned?

Yeah, and the the question, of course, this week as well as the last was was this the week for the Comlet Crypto Pivot? Or here's here's the other side of this uh maybe she's gonna nominate Gary Gensler for Trekkord Secretary Treasury.

Two polar opposites.

Yay. Which one is happening?

Also, in the world of crypto, why optimism disable their fraud proofs? Uh, good, bad, why is that even possible? What happens next? Why do they do that? And the new meta in crypto this week, Tron. All the meme coin traders are bridging over to Tron. And if you are hearing that line right now and you're like, ooh, I better get on Tron, you're probably too late.

Uh speaking meme coins, we've got to talk about the grimace coin, David. Um, is it a scam or is this something real that McDonald's has used with their Instagram?

From McDonald's Instagram. Scam or real? Everyone, place your bet. Scam or real?

David, these headlines, man, it's one of those weeks. But at least we got this, and you're gonna have to wait till the end of the podcast. Finally, Vitalik makes an Ethereum bullpost on Twitter.

Maybe the each Bitcoin ratio is saved, David. Maybe there's some hope here.

That's Vitalik doing his best to save the Bitcoin, ETH Bitcoin ratio. I'm also doing my part, uh announcing uh that me and Kane Warwick are fighting. Like fighting actual fight. This it this Ethereum and Ethereum fighting. Yeah, karate combat. Uh it was once upon a time Nick Carter, but now Nick Carter, uh, he's just like way out of my league. He's already killed a guy. Uh

Uh and so I'm uh committing elder abuse uh by fighting Kane Warwick at Permissionless on October 11th, uh the last day of permissionless. Yeah. So uh the fight's on. Uh getting getting back out of retirement uh that I never got out of in the first place. Uh to fight Kane Warwick. So if that interests you, if if yeah, two crypto Twitter people in uh fighting at Permissionless interests you, yeah, you should get a ticket.

I mean that's i i that's another reason to go to permissionless of course is to see you beat up Kane Warwick, right? Which is go which is obviously going to happen. Uh let's get the polling market ready.

To be fair, uh Kane has 30 pounds on me. Uh he's like 6'2,

I'm like 5'10.

He's got he's got like three to four inches on me. He's a uh he is a bigger human than me.

Yeah.

Uh and but he's agreeing to come down to we're fighting at 175. Uh so I'm going up fifteen, he's going down fifteen.

Uh that's yeah.

It's all gonna be like lean muscle. I know Kane. I mean he's a competitive dude.

Yeah.

Yeah, he when I was talking to him about potentially doing that, he was he was waiting for uh Suzu to get back to him about potentially fighting, but Suzu being um the spineless fraud that he is just ghosted him. Uh and so he gave he gave Suzu like 72 hours and then Suzu didn't say anything. And so then he's like, okay, now we're gonna fight. Uh now down to fight. Um I'm just trying to like close my saga on the like two months of training that I did with Nick. Like I did that. Uh and now I would like to put that to use, even though I haven't done anything since then. Um Kane had has much less fighting experience, uh, I'm assuming. Uh, but he's also uh apparently in really good shape because he's been like free diving for he said he's in the best shape of his life in cardio terms. Uh and so I've got fighting experience, he's got he's got cardio like readiness, and we've got seven weeks to train.

That's not a lot of time, David. And I know you're in R

Argentina.

I've I'm not gonna join an MMA gym in Argentina. I gotta wait until I get back to New York. So I have to

Well we'll we'll see what the odds look like once the the prediction markets kind of release them, but okay. Uh I who if if who wins, which one's bullish for Ethereum? Or is it just like bullish for Ethereum that we're having this fight?

Is that is that how you say that?

I don't know man. It's it's just it's just something something.

If that wasn't reason enough to come to permissionless to watch David beat up Kane, then uh we've got a lineup here, which is an incredible lineup. David, you should you should name a few guests. I know Chris Dixon is top of my list. Also, uh Bology, Srinivasan. Who else we got though?

The permissionless lineup I think is one of the greatest lineups of a crypto conference that I've ever seen. Kioni from Monads, Rerom, of course, Ben, Ben Jones from Optimism, Nick White from Celestia, Harry from Arbitrum, Luca from Putgy Penguins, Kane, of course. Vance from Framework, Tommy from Delphi, Santi from Empire Podcast, and previously Parrify, Haseeb, Tom Schmidt, Dan Robinson from Paradigm, Lucas from Jito, Tushar and Kyle from Multicoin. Like, who else do you want? Oh, do you want Stani? Because we also have Stani. Who else do you want? Samara Cohen from BlackRock? Like the queen of the ETFs? Like, we got everyone. We got everyone. It's gonna be really, really cool. Three days, a lot of content.

There's somebody else on this list too. I'd rather see you fight. You should go fight Mert, David. Was that not an option?

I do not, I will not be fighting.

We'll not be fighting murder.

Well, of course, guys, if you don't have a ticket for permissionless, you can go grab one. There's a link in the show notes. And if you're a bankless citizen, you get uh, what is it, 30% off that ticket?

30% off. Bankless listeners, non-citizens, get 10% off. Bankless 10. Bankless citizens get 30% off on your guys' perks page where we per all of your guys' perks.

Amazing. All right. Well, uh, let's talk about markets this week, David. The the the Bitcoin markets, what's the price point? Are we above 60k? Looks like we are.

Yep. Holding head and shoulders above 60K, 60,600, up 2% on the week. ETH price start of the week at 2,640, ending the week 2,610, down 1% on the week. Call it flat for both, I would say.043.

But we won't talk about that. Um, the ether flows, the ether TF flows are

terrible. They're pretty bad. They're not great. They're not great. Uh, they have been negative since August 15th. Uh, and so negative 40 million on the 15th, uh, negative 15 million on the 16th, negative 13 million on the 19th on the 19th, uh, negative 6 million on the 20th, and negative 18 million on the 21st. Wow, oof. Yeah. Totaling of all time since uh since inception, negative 458 million dollars. Yikes.

It was a bad week for net outflows of uh Ethereum. And so, like it, and so when you say uh inflows, outflow is like not great. I mean, historically they've been pretty good. I mean, if you look at all of the ETFs, uh ETH is like number five in terms of you know best top performing ETFs. Total new

Inflows, yeah.

Yeah. The the the problem is, particularly this week, we got absolutely slammed with a whole bunch of outflows. All of that, of course, coming from grayscale ether e. So you could say

From Grayscale.

Yeah, you could say, look, it's just, you know, accelerating. This needed to happen anyway. But the net of it is like last week when we were saying these numbers, we were at, you know, 360 net outflows, right? We want to get that to zero, and then we want to get that to positive territory. This week, we're at uh 460 million net outflows. So uh that's not feeling great. Do you think do you think some of the bears were right that like institutional investors don't care about Ethereum?

Uh well, I will say, granted, the amount of time that we were all surprised about the Bitcoin outflows from the GPT C when the Bitcoin ETFs launched, that was like that was about two weeks of outflows and like dashed expectations about the Bitcoin ETFs. And then things reversed. And we are at

Two plus like a little over two weeks. Two weeks. We started on the fifth. We were at the twenty the twenty second. So like it's about the same amount of time before things reverse for Bitcoin. Uh before and also when the GBDC hole really got plugged. Uh on the bright side of things, um, ETH A from BlackRock passed a billion dollars in total inflows. That's big. So one one billion, four million, dollars of total inflows into the BlackRock ETF. Uh Fidelity doing great at 375, Bitwise doing great at 310, and then like almost like no third fourth place. Uh Vandeck is in fourth at 60 million, but it's really those three contenders here.

I guess I would say it's probably still too soon to tell would be the TLDR of whether this has been bullish or bearish, but it hasn't been bearish yet. I mean, I I don't think the data's fully in. We just had a bad week, um, let's say on that side of things. Total crypto market cap, 1.2 trillion, about flat from last week, I think. David.

2.2 trillion. That's why I do it.

Oh, did I get it wrong?

It's what point one? It's 1.2 trillion.

No, it's two point two trillion.

I was looking at this. What is this? Oh, this is Bitcoin. Yeah, that's why you do it, David. I was looking at

Yes, this is

Bitcoin is one point two trillion and total crypto market cap is two point two. I can't believe I just like lost a trillion

temporary Bitcoin Maxi.