gm Bankless Nation, despite another insane weekend of political turmoil, Trump is still planning to launch his DeFi project tonight. Will crypto embrace the play?
gm Bankless Nation, Despite another insane weekend of political turmoil, Trump is still planning to launch his DeFi project at 8 pm ET tonight. Will crypto embrace the play?
Today's Issue ⬇️
☀️ Need to Know: WLF Incoming Crypto cozies up to Trump's DeFi effort.
📊 Market Vibes: How Low? Rate cut ratcheting / ENA rating.
🌍 Scroll Founder and Polychain GP Join Trump's World Liberty Financial as Advisors. The soon-to-launch DeFi project adds its most prominent advisors yet.
🇧🇹 Bhutan Holds $780M Bitcoin Acquired Via Stated-Funded Mining. Bhutan is now the 4th largest government holder of BTC.
🧑⚖️ SBF Appeals Fraud Conviction, Claiming Unfair Trial. SBF claims that he was the victim.
. . .
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📸 Daily Market Snapshot: Rate cuts are coming, but expectations of a quarter-point cut have given way to a half-point, and now Sen. Elizabeth Warren is clamoring for a 75-basis-point cut to rates amid fears the labor market has already slowed too much. Crypto prices took a hit Monday as traders questioned whether the soft landing equation had shifted.
Prices as of 4pm ET
24hr
7d
Crypto $2.02T
↘ 3.2%
↗ 0.5%
BTC $57,901
↘ 3.3%
↗ 1.7%
ETH $2,276
↘ 4.1%
↘ 2.9%
ENA $0.21
↘ 4.0%
↘ 10.1%
⬛
New Token Rating: Ethena's ENA continued on its relentless 5-month grind lower today. Will the pain ever end?
The Ethereum Follow Protocol is, as its name suggests, a protocol designed for following Ethereum accounts. You can think of EFP as an onchain social graph—a follower list you own.
The system is built around the Ethereum Name Service, and the connections you make and manage in the protocol don’t just exist on one website. Instead, they’re onchain data objects that can be seen and used anywhere else, like integrations in third-party apps.
The protocol hits mainnet next week, but you can follow our guide to try it out in testnet today. 👇
Mantle kickstarts Season 1 of Methamorphosis. Building on the success of their Liquid Staking Token, mETH, Mantle LSP announces plans for a new Liquid Restaking Token, cmETH, along with a governance token, COOK. With Methamorphosis, participants can now farm Powder for future COOK tokens and position themselves early for upcoming cmETH release.
That’s right, Bankless Nation, BlackRock is on the podcast today.
BlackRock is the world’s largest asset manager, a company that manages over $10 trillion dollars in assets around the world. To put that in perspective, that’s 5x the crypto market cap. But here at Bankless, we wanted to figure out what they’re doing in crypto. That’s why we brought on Robbie Mitchnick, BlackRock’s Head of Digital Assets.
We explore Crypto narratives in TradFi, how BlackRock measures the risk profile of Crypto, and their plans for the future of tokenization.
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.
