----- 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 ... https://www.youtube.com/watch?v=yo_-EnsOqN0
Bankless Fan and SEC Commissioner Hester Peirce comes on the podcast to discuss tokens, DeFi, 'self-driving banks,' and regulation.
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Bankless Podcast #60 - SEC & DeFi
Guest: Hester Peirce
Hester Peirce is one of five SEC Commissioners and has been a knowledgable advocate for crypto as the world works out how to regulate the budding industry. The main goals of the Security & Exchange Commission are threefold – to protect investors; maintain fair, orderly, and efficient markets; and facilitate capital formation. The SEC governs far more than crypto, but increasing attention is coming to the space as capital gravitates into it.
Regulating crypto begins with officially establishing the asset class, e.g. currencies, capital assets, commodities, equities, et al. The next step is giving these assets legitimacy in existing financial institutions through exchange-traded products like a Bitcoin ETF.
Below the base money layer, there exists Layer 0, the social layer. Layer 0 must be willing to officially play ball with the cryptoeconomy, and that's what makes regulators like Hester so important. The net optimization of these layers makes for an unequivocally better society: a more inclusive, equitable, and efficient one.
Hester believes in governing principles, not specific technologies. It's important here to remember the three main goals of the SEC. The value propositions of crypto – providing a permissionless, trustless, and verifiable means to transact – are in accord with the values of a free state. The role of government is to encourage and protect mutually beneficial, voluntary engagement among citizens.
Although the harmony between crypto's core values and those of a free state are readily apparent to a seasoned Bankless listener, the rest of Layer 0 must still be convinced. Crypto is a frontier with infinite possibilities, and effectively regulating such an ecosystem is a massive task. However, based on this conversation, there seem to be many reasons to be optimistic about the future of Crypto & DeFi regulation.
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Topics Covered:
0:00 Intro
4:57 Crypto Mom
10:14 Regulating Principles
14:07 ? Atomic Trading ?
17
...
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Recources:
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https://newsletter.banklesshq.com/p/bankless-2023-predictions
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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
...
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What does a fully on-chain crypto game really look like?
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There are more laws about selling sandwiches than creating potentially apocalyptic AI…
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ROLLUP: 2nd Week of November
What are we doing:
Happy Friday morning...
End of the week rollup
Dedicating 5 minutes to 5 topics, same 5 topics every week
- Market
- Releases
- News
- Takes
- What are you excited about?
(MARKET) What’s the Market saying?
BTC Price
- 16k
- BTC Treasuries website (https://bitcointreasuries.org/))
- BTC on Ethereum: 153k
ETH Price
$1B of ETH in Grayscale (https://www.theblockcrypto.com/linked/83854/grayscale-ethereum-trust-1-billion-aum)
TVL in DeFi - up $1B from last week
DeFi Token price - remember last wk when DeFi was dead?
(RELEASES) What got released?
- PayPal removes waitlist - all paypal users can use crypto now (https://www.coindesk.com/paypal-removes-waitlist-for-new-crypto-service)
- LiquidStake (https://www.coindesk.com/ethereum-heavyweights-launch-liquidstake-loans-to-ease-eth-2-0-lockup)
Dharma Bank Account Integration (https://twitter.com/Dharma_HQ/status/1323311960432148481)
Bank Account - Dharma - Uniswap
Synthetix synthetic Oil and inverse-synthetic Oil now available (link)
Oracles through Chainlink
Chainlink working on xDAI network (https://www.xdaichain.com/about-xdai/project-spotlights/chainlink)
1inch V2 launched (https://1inch.exchange/#/)
Looks hot
Improved routing
Better APIs for builders
EIP1559 Updates
Tim Beiko tweet thread (https://twitter.com/TimBeiko/status/1325839080974774272?s=20)
- Mainnet-condition testnets
- Developer tooling for easy 1559 integration
Micah Zoltu blog post (https://medium.com/@MicahZoltu/a-tale-of-two-pricing-schemes-dc9c8717906)
A short story that reads as a narrative of all the problems that EIP1559 fixes
Worth mentioning to inform people
(NEWS) What’s in the news?
Infura CRASH (https://www.theblockcrypto.com/post/84232/ethereum-infrastructure-provider-infura-is-down)
In response, someone made EthereumNodes.com to report who has endpoints up and who doesn’t
Zapper gets $1.5M in funding (https://www.coindesk.com/defi-dashboard-zapper-snags-new-funding-from-delphi-and-coinbase
...
https://www.youtube.com/watch?v=92y4YhjPKq4
Justin Blau, known by his stage name 3LAU, is a DJ turned crypto-entrepreneur. At the end of February, he auctioned collectible NFTs for his 'Ultraviolet' album for a record-setting $11.7M.
We look under the hood of 3LAU's story, diving into what this means for crypto and the disruption of the music industry.
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SotN #37: 3LAU | The Frontier of NFTs
Topics Covered:
0:00 Intro
1:36 Making a Statement
3:42 Ripe for Disruption
5:20 The Auction
9:33 The NFTs
14:46 Fans & Creators
19:25 Digital Goods
24:28 The Music Industry
30:22 Managers
33:34 Agents
34:50 Spotify, Youtube, Instagram
36:43 Record Labels
40:43 The Power of Tokens
42:57 An Investable Layer
48:39 Equity in Art
53:55 Disintermediation
58:37 Boundless Art
1:02:00 Closing
1:04:05 Risks & Disclaimers
Justin Blau, known by his stage-name 3LAU, has been experimenting in the crypto space since 2014. From February 25-28, he auctioned a total of 33 NFTs commemorating his album 'Ultraviolet', originally released in 2018. 3LAU discusses how he applied his knowledge of game theory to optimize the auction mechanism. The sales totaled $11.7M.
3LAU's biggest takeaway from all this is that the music industry is ripe for disruption. NFTs can remove intermediaries and bridge the gap between fans and creators. Transparent, immutable digital goods are increasingly accessible to the public. These tools promote direct-to-consumer transactions, democratization of data, and self-distribution.
The argument here is that given the technology of distributed ledgers, record labels are now obsolete. With an investable layer, fans are able to contribute capital and hold equity in an artist's work. 3LAU is pioneering how decentralized tokens can be optimized for medium-dependent art spaces. The future of art is decentralized, allowing infinite collaborative possibilities among fans and creators of all forms of media.
Justin on Twitter
https://twitter.com/3LAU?s=20
3LAU Website
https://3lau.com/
3LAU NFT Auction
https://nft.3lau.com/#/auction
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