ROLLUP: Saylor Risk? | Warsh’s New Fed | SpaceX IPO | Coinbase’s Everything Exchange
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What is the main topic discussed in this episode?
Bankless Nation, it's time for another weekly roll-up. It is the third week of June, and once again, Ryan Trott Adams is on vacation. Well-deserved.
What is causing the divergence between equities and crypto markets?
And we got Tom Schmidt. Usually we tap in Hasib, but we have tapped in Hasib like so many times. So we're bringing my BFF back. Tom, welcome back to Bankless.
I'm glad I'm the BFF, not Hasib. I've seen him on Bankless too many times, so thanks for having me.
Yeah, I really appreciate you. Tom, you're in New York.
What insights did Kevin Warsh share during his first FOMC meeting?
Why aren't you at the Knicks parade?
You know, I'm gainfully employed, so I felt like it's very difficult to do both that and be at the Knicks parade. But it looked insane. I was like, Fulton Street is completely jammed, full of people. So I'm also happy to just observe it digitally, you know.
How did SpaceX achieve a significant market valuation?
Yeah, I wake up and do the thing that you shouldn't do, which is I immediately open up my phone, and I pulled open Instagram and looked at stories, and there were all of my friends, like two hours ago, already in Manhattan at like 6.30 in the morning. I'm like, Jesus, what are you guys doing?
I don't get it. I'm also, you know, I'm one of those bandwagon Knicks fans, so I can't really cop to being a Knicks fan. I'm just like, I'm here.
Yeah, I'm glad it's happening. The energy in the city is great. I get to write it. We got some news to talk about.
What is the significance of Jito's recent performance in the crypto space?
Equities are up on the week, but crypto is down. Strategies stretch is trading 15% off par while there's a lot of grave dancing going on on Twitter. We have the new FOMC meeting with the new brand new shiny new Fed chair, Kevin Warsh. He said... While he was getting the job, while he was going through the job interview process, that he's going to cut. And then once he got the job, it turns out when he just was saying what Trump wanted him to say, now he's got the job, he doesn't have to say that anymore.
What updates did Coinbase announce regarding their platform?
So now he's saying something else. There was the SpaceX IPO on Friday, and now it's the seventh largest company in the world. And I got a question, why is Jito, the block building software on Solana, up 70% in 30 days? And then also, Coinbase launched 21 new products, all with their system update event. We're going to go through all of this and more. But first, before we get into today's episode, Tom, I got to talk to our friends and sponsors over at OKEx.
How is Anchorage enhancing institutional trading with Hyperliquid?
The Intercontinental Exchange, which is the parent company of the New York Stock Exchange, they backed OKEx at a $25 billion valuation with a plan to launch tokenized New York stock exchange stonks and derivatives later this year on OKEx. This is putting just TradFi and DeFi into the same app. Finally, OKEx is trusted by over 120 million global users and is bringing products to the U.S. market that Wall Street has been talking about for years and OKEx is delivering them. This is the OKEx new money app. It's not just a vision, but it's a roadmap with institutional backing to execute on it. Not an OKEx user yet. If you are not, you can get $500 in Bitcoin through the link in the show notes, unless you are living in New York or Texas.
Sorry about that. All you got to do, go to OKEx, click that link, verify your identity, deposit $100. You get some money, deposit more money, get some more money, trade more money, get more money. all up to $500.
What implications does the UK’s social media ban for children have?
There's a link in the show notes to get started. Let's just go back to equities. Equity is looking good on the week, still rallying after the Iran war. A peace deal got minted. Bitcoin and crypto followed them shortly, but not anymore. Not yesterday and definitely not today. Bitcoin is now trading back right at the 200-week moving average at $62,600. I think maybe this is just me, but I think people's eyes are all on Michael Saylor's Stretch product. which was starting to recover after it dipped down to $91 last week, June 5th, and they recovered up to like $96, $97, but it caught all the way down to $82, Tom. This morning, it's trading back up to $87. So far. So far, almost 20% off of its peg of $100, making people very bearish about the confidence of strategy.
I don't know if you pay attention to Stretch.
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Chapters
8 chapters
1
What is the main topic discussed in this episode?
0:04–0:11
2
What is causing the divergence between equities and crypto markets?
0:11–0:29
3
What insights did Kevin Warsh share during his first FOMC meeting?
0:29–0:46
4
How did SpaceX achieve a significant market valuation?
0:46–1:16
5
What is the significance of Jito's recent performance in the crypto space?
1:16–1:43
6
What updates did Coinbase announce regarding their platform?
1:43–2:08
7
How is Anchorage enhancing institutional trading with Hyperliquid?
2:08–3:05
8
What implications does the UK’s social media ban for children have?
3:05–1:00:12
Speakers
2 identifiedMore from Bankless
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