Bankless ROLLUP: Stablecoin Surge | Hyperliquid Drama | Tornado Cash Freed | Robinhood Banking
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Mar 28, 2025 Mike Ippolito, a crypto media colleague and co-host of the Bell Curve podcast, shares insights on the recent surge in institutional interest in stablecoins. He discusses the drama surrounding Hyperliquid, which faced a market manipulation attack, and the significant milestone of the U.S. Treasury removing Tornado Cash from its sanctions list. Additionally, the conversation covers Robinhood's new banking features and what this means for the future of decentralized finance, sparking lively debates about the evolving crypto landscape.
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Shifting Sentiment in Crypto
- Institutions are bullish on crypto due to the increasing focus on RWA, stablecoins, and regulatory embrace.
- Builders are less optimistic, possibly due to compromises required for scaling and the changing landscape.
Michael Saylor's Bitcoin Strategy
- Michael Saylor strategically uses MicroStrategy to acquire Bitcoin, leveraging Wall Street's interest.
- This strategy, likened to a "Wall Street meme coin," allows him to issue equity and buy Bitcoin despite MicroStrategy's limited cash flow.
Stablecoin Gold Rush and Distribution
- Stablecoin supply has surged, with new entrants and tokenized money markets emerging.
- Distribution rails and trading pair liquidity are key factors for stablecoin success, with Tether dominating offshore exchanges and USDC leading in DeFi.