The Importance of Restaking

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Restaking is when you stick your ETH to Ethereum and then you stake it again. Eigenlayer really opened up the door to the concept of restaking. So they are launching their main net stage one, stage one main net soon TM. They said they've got over 9,000 submissions with interest between 0.1 ETH and 30,000 ETH to all begin doing restaking things for other networks. It's going to shake everything up if this is successful, I think.

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0:00 Intro

3:30 MARKETS 4:42 FED raised rates by 25 basis points https://www.federalreserve.gov/newsevents/pressreleases/monetary20230503a.htm https://twitter.com/carlquintanilla/status/1653822271520223232 https://twitter.com/RyanSAdams/status/1653856569145081856 10:31 Jim Bianco’s take: THEY KNEW THE RISKS https://twitter.com/biancoresearch/status/1653777745791401986

15:20 Banks Failure - Season 2! https://www.fdic.gov/news/press-releases/2023/pr23034.html 24:40 Comparison of the US banks’ failures since 2002 https://twitter.com/mbostock/status/1653221977895882752 27:49 Arthur Hayes’ take: The U.S. Banking System is now Nationalized https://twitter.com/CryptoHayes/status/1653175131123126272

33:41 Meanwhile, Balaji lost the Bitcoin bet https://twitter.com/balajis/status/1653451860488130565 https://twitter.com/balajis/status/1653449321185169409 https://imgur.com/a/Eu4aIIb https://imgur.com/a/Zg9Gh8r

41:48 Coinbase Going International https://twitter.com/coinbase/status/1653385513011740672 https://www.coinbase.com/blog/introducing-coinbase-international-exchange 44:44 In good news…Gary’s GOT 10 DAYS https://twitter.com/iampaulgrewal/status/1653898889311948800

48:35 VENMO bringing Wallets to 60M Americans https://twitter.com/RyanSAdams/status/1652049681050943489 51:00 EigenLayer Stage 1 Mainnet is set to launch https://twitter.com/eigenlayer/status/1653536292171567104 55:20 Sui Mainnet https://twitter.com/SuiNetwork/status/1653731940107956225 SUI coming in at a $13B valuation https://www.coingecko.com/en/coins/sui https://thedefiant.io/sui-raises-300m 59:10 Alexlar https://twitter.com/axelarcore/status/1653384907085737985 Bankless Show https://www.youtube.com/watch?v=erZyGlxchsA 1:01:59 Lens Layer 3 https://twitter.com/StaniKulechov/status/1651898620973576193

1:03:30 New Zachxbt Victim https://twitter.com/zachxbt/status/1651238822963826694 https://twitter.com/CoinGurruu/status/1651250297530974208

1:04:40 Biden proposes 30% climate change tax on cryptocurrency mining https://www.whitehouse.gov/cea/written-materials/2023/05/02/cost-of-cryptomining-dame-tax/

1:08:12 Jobs https://pallet.xyz/list/bankless/jobs

1:11:24 Questions from the Nation

1:16:27 Takes of the Week https://twitter.com/RyanSAdams/status/1653011542563069952 https://twitter.com/TrustlessState/status/1653674756715978752 https://twitter.com/erikvoorhees/status/1653935801338822663

1:20:44 What David’s Bullish On https://twitter.com/TrustlessState/status/1652053503307644930 1:24:34 What Ryan’s Bullish On

1:26:41 MEME of the Week https://twitter.com/natfriedman/status/1625850766039842824

1:30:05 Moment of Zen https://twitter.com/dcbuild3r/status/1653737344170618882 ---- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://www.bankless.com/disclosures