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SEC's Assault on Staking
Published on June 28, 2024

Sponsor: Uniswap Uniswap Extension — Say goodbye to pop-ups and hello to the sidebar.

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NEED TO KNOW
SEC Sues Consensys
  1. 😑 SEC Sues Consensys Over Alleged Securities Violations. The agency alleges that MetaMask, Lido, and Ethereum Ethereum Staking Protocol allowing flexible staking with rewards.View Profile" class="stubHighlight">Rocket Pool Rocket Pool staking services are unregistered securities.
    Read more on Bankless.com
  2. 💰 Kraken Kraken Founder Donates $1M to Trump Campaign. The founder joins a wave of industry support behind Trump during a key election moment.
    Read more on Bankless.com
  3. 🤝 Coinbase Coinbase Partners with Stripe. The partnership brings Base Base support to Stripe and Stripe support to Coinbase Wallet.
    Read more on Bankless.com
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MARKET VIBES
Assault on Staking

📸 Daily Market Snapshot: BTC tested falling below $60K after a week of rebuilding, but all eyes were on staking kingpin LDO which fell over 16% after the SEC named the asset as an unregistered security in its Consensys suit. RPL, which was also named, fell 7.5%.

Prices as of 5pm ET 24hr 7d
Crypto $2.24T ↘2.0% ↘4.3%
BTC $60,128 ↘2.0% ↘6.2%
ETH $3,382 ↘1.6% ↘3.9%
AVAX $28.07 ↗0.3% ↗1.7%

🔒
New Token Rating: AVAX may have better ETF chances than SOL. What performance do we expect from AVAX?
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ANALYSIS
The Legacy of Zuzalu: One Year Later
Bankless Author: David C.

One year ago this week, our very own David Hoffman shared details about his experience living with some of crypto’s brightest minds in the ephemeral city called Zuzalu. 

Inspired and initiated by Vitalik Buterin, Zuzalu blended structure and spontaneity to construct a successful experiment, but almost immediately after the ephemeral city dispersed, attendees wondered how they could keep the fire of Zuzalu alive and continue to offer places for the ethos of Ethereum to connect with disparate emerging technologies.

Let’s take a look at what they’ve been up to since 👇


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INVEST
This Week's Yield Opps

Each week, Citizens get a curated list of yield opportunities that the Bankless team is watching. As a free subscriber, you're missing out! 👇

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GO BANKLESS
Don't Miss Another Airdrop!

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Not financial or tax advice. Bankless content is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time we may add links in this newsletter to products we use. We may receive commission if you make a purchase through one of these links. Additionally, the Bankless team hold crypto assets. See our investment disclosures here.

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