The Importance of Restaking in the Banking Industry

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The Sui network is the newest, shinyest layer one blockchain on main nets. They are boasting a whopping number of 100 globally distributed validators to achieve a peak throughput of 300,000 transactions per second with finality inside of a lot of 8,000 milliseconds. So these are the numbers that super speedy layer one. I have not looked under the hood of this thing, but I'm going to classify this as what I would call a juice layer one.

Bankless Weekly Rollup 1st Week of May 2023

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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