p.s. Thanks to The Rodman Law Group. Looking for experienced, crypto-native attorneys? Talk to The Rodman Law Group. Bankless Ventures uses them, and we couldn't be happier!
p.p.s. The Bankless Analyst Squad will be taking a couple days off for the holidays; see you back here on Thursday!
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🇺🇸 Trump Picks 'Crypto Council' Leader. Trump has selected Bo Hines, who unsuccessfully ran for Congress in 2022, to lead a council promoting crypto innovation.
😬 CoinDesk Owner Fires Top Editors. CoinDesk's corporate owners abruptly fired its top three editors, including its editor-in-chief, after the owners unceremoniously pulled a negative article about Tron founder Justin Sun.
🔴MicroStrategy Buys 5K More Bitcoin. Despite a sudden dip in crypto prices, MicroStrategy continued its drive to buy more and more BTC, announcing a new purchase just as it entered the Nasdaq 100.
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MARKET VIBES
Aptos Crash
📸 Daily Market Snapshot: Altcoins bled out last week, with Stacks (STX) and Aptos (APT) leading the way – both losing one-third of their value in the past 7 days. The fall in the Aptos native token appears to be especially concerning as it follows the unexpected resignation of the project's leader, whose departure came just as the token was seeing one of its biggest pumps ever.
Perhaps unsurprisingly, when we look back at the year, one token category outperformed all others — memecoins.
Fueled initially by growing critique and disillusionment with token launches that entered the market at high fully diluted valuations, memecoins shone brightly in 2024. Drawn by their simpler narratives, (often) reduced insider allocations, and low-cost trading fees, many traders gravitated toward memecoins, making them a core pillar of crypto's 2024 growth.
Let's examine how memecoins gained this momentum, explore the role of Solana and Pump.fun in accelerating their growth, discuss their evolution and implications on token value, and analyze their influence on AI agents in this evolving landscape 👇
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How do you spot the next asset that could 1000x? How do you find the next Bitcoin when it's still trading at $65?
For Dan Morehead, the answer lies in recognizing patterns most investors overlook. As the founder and CEO of Pantera Capital, Dan is no stranger to making bold, contrarian bets. His July 2013 investment letter, titled “Very Timely: We Should Buy Bitcoin Now at $65,” is the stuff of legends. Over the following two years, Pantera accumulated nearly 2% of the world’s bitcoin supply. Fast forward to today, and the fund boasts a lifetime return of over 131,000%.
In our conversation with Dan, we unpack the journey that led him to Bitcoin in 2013.
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 a commission if you make a purchase through one of these links. Additionally, the Bankless team holds crypto assets.
