Bankless

ROLLUP: M2 Money Supply Flipped Bullish | Robinhood Wells Notice | Trump Supports Crypto | Friend.tech Token

May 10, 2024

59:40

Snipd AI

This podcast covers the bullish flip of the M2 Money Supply and its impact on the crypto market, Robinhood's SEC trouble, Trump's support for crypto, and the influence of crypto-positive voters on elections. It also discusses a bankruptcy case in the crypto space, a new token launch by Friend.tech, and Nigeria's crackdown on crypto trading with implications for capital controls.

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Episode notes

Podcast summary created with Snipd AI

Quick takeaways

SEC's SAB 102 rule hindering banks from offering digital asset custody; a bill to reverse it passes the House with bipartisan support.

Biden's administration signals veto intent on bill promoting regulatory clarity for banks to custody crypto assets, exacerbating partisan divide.

Trump leverages anti-crypto sentiment among Democrats to rally support, making crypto regulation a polarizing electoral issue.

Deep dives

Crypto Industry Challenges SEC's SAB 102 Rule in Attempt to Allow Banks to Custody Assets

Congress addresses the SEC's SAB 102 rule hindering banks from offering digital asset custody, seen as a maneuver to suppress crypto. A bill to reverse the rule passes the House with bipartisan support undermining SEC's restrictive stance on disclosure and custody. Gary Gensler's firm opposition to the bill prompts Biden's vow to veto impacting investor protection and straining market dynamics.

Introduction

2min

Market Trends and Financial Indicators Analysis

12min

Efficiency of MEV in Solana and Robinhood's SEC Woes

6min

Crypto Regulation and Political Dynamics

17min

Exploring the Influence of Crypto Voters on Elections and Teasing Upcoming Topics

6min

Crypto Bankruptcy Case & New Token Launch

12min

Implications of Capital Controls on Cryptocurrency in Nigeria

5min

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------ TIMESTAMPS & RESOURCES 00:00 Intro

01:28 Markets https://pro.kraken.com/app/trade/btc-usd https://pro.kraken.com/app/trade/eth-usd https://www.coingecko.com/en/global-charts

03:40 M2 Money Supply https://twitter.com/thomas_fahrer/status/1786196603931644086

08:18 GBTC Inflows https://x.com/JSeyff/status/1787506564267393037 https://twitter.com/JSeyff/status/1787610459413102688

09:49 Stablecoin Mkt Supply https://twitter.com/alpha_pls/status/1787405833279545393

10:55 Bullish for Solana https://twitter.com/smyyguy/status/1787892675145781611

18:43 Robinhood Wells Notice https://newsroom.aboutrobinhood.com/robinhood-response-to-receipt-of-wells-notice-from-the-u-s-securities-and-exchange-commission/ https://x.com/vladtenev/status/1787595555981668751 https://twitter.com/BSCNews/status/1787811373361107092

22:32 Gary's Take https://x.com/RyanSAdams/status/1788313202024915178

28:27 Biden Administration Against Crypto https://twitter.com/BitcoinMagazine/status/1788274505753755836 https://twitter.com/jchervinsky/status/1788281811086221646?s=46&t=2ZINVXJQKx6xO_6Wiiu_2g https://x.com/RyanSAdams/status/1788289854574322049

34:09 Trump Response https://twitter.com/frankdegods/status/1788359051031761269?s=46&t=2ZINVXJQKx6xO_6Wiiu_2g

42:16 FTX Creditors Make 118%? https://www.bloomberg.com/news/articles/2024-05-07/ftx-has-billions-more-than-needed-to-repay-bankruptcy-victims?cmpid=BBD050824_MONEYSTUFF&utm_medium=email&utm_source=newsletter&utm_term=240508&utm_campaign=moneystuff

44:42 Friend.Tech Token https://x.com/friendtech/status/1786573081240297926

47:06 Eigen Stakedrop Update https://twitter.com/TrustlessState/status/1786172333717066237 https://x.com/BanklessApp/status/1786055564629348383

48:28 $MODE Token https://x.com/modenetwork/status/1786115439212294386

49:43 Optimism L3 https://optimism.mirror.xyz/6idqs2nEDLdezbSynrYsakliSCm3VyzA3WWj6esBbbM

51:29 BOB Bitcoin Chain https://twitter.com/build_on_bob/status/1785601054966771970

52:10 Autonomous Worlds https://twitter.com/redstonexyz/status/1785715921014960188

54:48 Nigeria Banning P2P Crypto Trade https://www.bloomberg.com/news/articles/2024-05-07/nigeria-to-ban-person-to-person-crypto-trade-in-battered-naira

57:05 Revolut X https://www.revolut.com/blog/post/revolut-x-launch/

57:59 Meme of The Week https://x.com/jonwu_/status/1787512817303629962 ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠

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Bankless

ROLLUP: M2 Money Supply Flipped Bullish | Robinhood Wells Notice | Trump Supports Crypto | Friend.tech Token

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

Crypto Industry Challenges SEC's SAB 102 Rule in Attempt to Allow Banks to Custody Assets

Biden Administration's Veto Threat Sparks Political Discord on Crypto Regulation

Trump Seizes on Democrats' Anti-Crypto Sentiment for Political Advantage

Crypto Policies and Political Influence in the US Government

FTX Bankruptcy and Creditor Compensation

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Bankless

ROLLUP: M2 Money Supply Flipped Bullish | Robinhood Wells Notice | Trump Supports Crypto | Friend.tech Token

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

Crypto Industry Challenges SEC's SAB 102 Rule in Attempt to Allow Banks to Custody Assets

Biden Administration's Veto Threat Sparks Political Discord on Crypto Regulation

Trump Seizes on Democrats' Anti-Crypto Sentiment for Political Advantage

Crypto Policies and Political Influence in the US Government

FTX Bankruptcy and Creditor Compensation

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Save anymoment

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