ROLLUP: Google’s Quantum Warning | Trump’s Iran Speech | Ethereum Economic Zones | Drift Hack
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What is the main topic discussed in this episode?
Bankless Nation, welcome to the first week of April. It's time for the Bankless Weekly Roll-Up. Google released a major quantum warning directed squarely at us, David.
How did Trump's Iran speech impact the markets?
Not you and me, but at crypto, let's say. They have an algorithmic breakthrough that just 20x'd progress towards cracking ECDSA and some of the crypto signatures that underlie Bitcoin, Ethereum, and basically everything we do here. How bad is it for crypto? I think it's pretty concerning. Some might call me a panicking, though. We'll get into the paper and see what Bankless listeners decide.
It's certainly worse for crypto when we can't seemingly come to consensus about how big of a deal it is, which makes it an even bigger deal. It's like a little bit of a coordination problem, if you will. Meanwhile, back into the Trump side of things, he addressed the nation last night about the state of the Iran war, the state of Operation Epic Fury. My take was that it was a 19-minute speech basically to deliver the bad news to the markets that we are in this for three more weeks. He said, we're going to talk about that, all that and more. He said the straight and poor moves will just open up naturally. Gas prices will come down and stock prices will go back up, but not before three weeks from now at the very least.
We'll see if the market is reassured by that when we get into it. Also, did Ethereum just come up with a plan to finally unite all of the Layer 2s?
What was Google's quantum warning for crypto?
They're called Ethereum Economic Zones. We'll spell out what that means. Aave V4 just released. What's new in that? Also, the biggest hack, I think, in Solana history, a $300 million hack, the Drift Exchange. This is a purpose exchange was hacked. What happened and what can we learn? It's all about the lessons we learn along the way, isn't it? Before we get started, Ryan, can I tell you a fun fact? Yeah. It genuinely needs to be fun, though. I don't want any of your not fun facts, okay? This needs to be a fun one.
It's fun because it implies good buying prices. Okay. Yeah.
Okay.
It's a bearish fun fact.
Yeah.
Tell me. We just survived the worst Q1 in Bitcoin since 2018. Oh, my God. This was it?
What happened during the $285M Drift hack on Solana?
Yeah. Can I give you another fun fact?
Wait, how, like what was the percent down? I mean, down 24% in Q1. And that was the worst Q1 we've ever had since 2018.
2018, yeah.
What are Ethereum's Economic Zones and their significance?
It wasn't that bad. Great, 2018, like the market topped December 2017 and then it fell like I think 60% in Q1 2018. I remember that Q1 very, very well because that was my foray into crypto. But my second fun fact for you, Ryan, is that Bitcoin had five red monthly candles in a row. But March, which the March candle finished two days ago, eked out a green candle. Is that it? Is that tiny thing? So we have the monthly candle for the month of March. was green after five red monthly candles.
How are crypto wallets evolving into super apps?
Five red monthly candles in Bitcoin is, I don't, I think this happened a very low number of times. David, I got to say that that is a tiny green candle right there.
That is a candle for ants. But it is green. Okay.
It's a tiny green candle, but it is green.
The smallest green candle I think on this chart maybe, but it was green in March. That's good news. You mentioned in the intro, the Trump speech that happened on Wednesday night So he said he was going to address the nation. I think he gave some 24 hour advance notice. Yeah. All TV networks have to broadcast it. What was the news? What did he say?
Yeah. So 19 minute speech about Operation Epic Fury, the war in Iran. After a week of just like posturing from Trump, two weeks even about posturing about negotiation talks, how the negotiation talks are going well, talking about how he's kind of done with Iran and de-escalation. Like weird stuff.
Like it was hard to know what was really going on. Right.
Well, no, I would say he was firmly posturing and signaling to the people in the market that like we're kind of wrapping this thing up.
Yeah.
Right. We're like we're we're we're getting we're getting.
But he was doing it Trump style. Like I got a prize, you know, from the Iranians. Like some strange it was it was hard to know actually to sort the signal through the noise.
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Chapters
6 chapters
1
What is the main topic discussed in this episode?
0:04–0:15
2
How did Trump's Iran speech impact the markets?
0:15–1:28
3
What was Google's quantum warning for crypto?
1:28–2:11
4
What happened during the $285M Drift hack on Solana?
2:11–2:24
5
What are Ethereum's Economic Zones and their significance?
2:24–2:57
6
How are crypto wallets evolving into super apps?
2:57–1:03:51
Speakers
4 identifiedMore from Bankless
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