Welcome to Uptober $

gm Bankless Nation, we're so back and we've got a lot to talk about.
Bankless Bankless Oct 24, 20233 min read
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Welcome to Uptober $
Welcome to Uptober
Published on Oct 24, 2023
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Sponsor: Kraken โ€” Sign up for an account and see what crypto can be.

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NEED TO KNOW
Welcome to Uptober
  1. ๐Ÿ’ฐ BlackRock ETF maneuvers. As Bitcoin rages past $34k, attention is zeroing in on spot ETFs. BlackRock is seeding theirs, but the ticker just disappeared?
  2. ๐Ÿ”‘ Ledger launches Recover. The hardware wallet co faced a PR nightmare after announcing its seed phrase recovery service. The service just launched.
  3. ๐Ÿ‘จโ€โš–๏ธ Emmer snags Speaker nom. Friend of crypto Tom Emmer could become the top dog in Congress, but he has to win over some critics in his party first.

Prices updated at 4:00 pm ET 24HR
Crypto Market Cap $1.25T โ†— 5.2%
Bitcoin $33,756 โ†— 7.5%
Ethereum $1,775 โ†— 3.9%

๐Ÿ“ˆ Today marks an industry-wide change in sentiment. At some point, people get exhausted being bearish. Strong signs of the stage being set for a spot ETF. Short squeezes and bear liquidations across the board.

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TAKE ACTION
DeFi Needs Your Help

Regulators are regulating an industry they don't understand, and they're trying to take the decentralization out of DeFi. We can't let them! In a special guest column, we unpack newly proposed U.S. Treasury rules and detail how you can get involved to protect DeFi.

tl;dr โ€“ Send a comment to the IRS right now!

Why this matters:

These latest rules don't make any sense, and regulators need to hear how unclear rules could seriously damage the crypto industry. The last thing we need is more anti-crypto regulators getting carte blanche to do whatever they want.

The takeaway:

Sometimes, to protect your vision of the future, you need to play by the old rules to get anything done. Filling out comments and sending them to the IRS shouldn't be a necessary step to getting halfway sensible legislation across the finish line, but this is what we need to do!


FRIEND & SPONSOR: KRAKEN

Kraken is one of the largest and most secure crypto platforms in the world. They've been in the crypto game for over a decade, and now they're inviting us all on a journey to see what crypto can be.

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LATEST PODCAST
US Gov is Trying to Kill Crypto
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We need to stop the US from killing crypto. The new IRS proposals could effectively destroy DeFi and other crypto use cases. The good news? We can change this. Five minutes is all it takes to leave a comment and get the interpretation delayed.

In this episode, we bring on Miller Whitehouse-Levine of the DeFi Education Fund and tax lawyer Jason Schwartz to discuss the proposed rules and their catastrophic implications.

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ALPHA OF THE WEEK
๐Ÿ”’ What We're Doing

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