ROLLUP: Will FAILING Banks Bring Down the Economy?!
Bankless
Bankless
4.7 • 1.2K Ratings
🗓️ 5 May 2023
⏱️ 94 minutes
🧾️ Download transcript
Summary
Bankless Weekly Rollup
1st Week of May 2023
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Topics Covered
0:00 Intro
3:30 MARKETS
4:42 FED raised rates by 25 basis points
https://www.federalreserve.gov/newsevents/pressreleases/monetary20230503a.htm
https://twitter.com/carlquintanilla/status/1653822271520223232
https://twitter.com/RyanSAdams/status/1653856569145081856
10:31 Jim Bianco’s take: THEY KNEW THE RISKS
https://twitter.com/biancoresearch/status/1653777745791401986
15:20 Banks Failure - Season 2!
https://www.fdic.gov/news/press-releases/2023/pr23034.html
24:40 Comparison of the US banks’ failures since 2002
https://twitter.com/mbostock/status/1653221977895882752
27:49 Arthur Hayes’ take: The U.S. Banking System is now Nationalized
https://twitter.com/CryptoHayes/status/1653175131123126272
33:41 Meanwhile, Balaji lost the Bitcoin bet
https://twitter.com/balajis/status/1653451860488130565
https://twitter.com/balajis/status/1653449321185169409
https://imgur.com/a/Eu4aIIb
https://imgur.com/a/Zg9Gh8r
41:48 Coinbase Going International
https://twitter.com/coinbase/status/1653385513011740672
https://www.coinbase.com/blog/introducing-coinbase-international-exchange
44:44 In good news…Gary’s GOT 10 DAYS
https://twitter.com/iampaulgrewal/status/1653898889311948800
48:35 VENMO bringing Wallets to 60M Americans
https://twitter.com/RyanSAdams/status/1652049681050943489
51:00 EigenLayer Stage 1 Mainnet is set to launch
https://twitter.com/eigenlayer/status/1653536292171567104
55:20 Sui Mainnet
https://twitter.com/SuiNetwork/status/1653731940107956225
SUI coming in at a $13B valuation
https://www.coingecko.com/en/coins/sui
https://thedefiant.io/sui-raises-300m
59:10 Alexlar
https://twitter.com/axelarcore/status/1653384907085737985
Bankless Show
https://www.youtube.com/watch?v=erZyGlxchsA
1:01:59 Lens Layer 3
https://twitter.com/StaniKulechov/status/1651898620973576193
1:03:30 New Zachxbt Victim
https://twitter.com/zachxbt/status/1651238822963826694
https://twitter.com/CoinGurruu/status/1651250297530974208
1:04:40 Biden proposes 30% climate change tax on cryptocurrency mining
https://www.whitehouse.gov/cea/written-materials/2023/05/02/cost-of-cryptomining-dame-tax/
1:08:12 Jobs
https://pallet.xyz/list/bankless/jobs
1:11:24 Questions from the Nation
1:16:27 Takes of the Week
https://twitter.com/RyanSAdams/status/1653011542563069952
https://twitter.com/TrustlessState/status/1653674756715978752
https://twitter.com/erikvoorhees/status/1653935801338822663
1:20:44 What David’s Bullish On
https://twitter.com/TrustlessState/status/1652053503307644930
1:24:34 What Ryan’s Bullish On
1:26:41 MEME of the Week
https://twitter.com/natfriedman/status/1625850766039842824
1:30:05 Moment of Zen
https://twitter.com/dcbuild3r/status/1653737344170618882
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Transcript
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| 0:00.0 | The reason Powell is raising rates is because he's trying to fight inflation. |
| 0:03.8 | And the more he raises rates, the more economic turmoil that seems to be causing. |
| 0:09.8 | Namely, and we're going to get to this in a little bit in the realm of bank failures. |
| 0:14.3 | Okay, so that's starting to happen. |
| 0:16.3 | Another bank failed this week, which we'll talk about in a minute. |
| 0:21.0 | Bankless Nation, it is the first Friday of May. |
| 0:23.8 | It's Friday morning. |
| 0:24.8 | Hope you brought your coffee. |
| 0:25.7 | David, what time is it? |
| 0:27.0 | Ryan, it's the bankless Friday, weekly roll-up where we cover the entire weekly news |
| 0:30.8 | in crypto, which is always ambitious endeavor, yet we persevere nonetheless into the frontier. |
| 0:36.8 | How are you doing this week? |
| 0:37.8 | David. |
| 0:38.8 | I'm doing well. |
| 0:39.8 | I don't know if the banks can say the same, though, because we got more bank failures |
| 0:44.0 | on the menu. |
| 0:45.0 | That's a big topic. |
| 0:47.2 | Big topic of conversation. |
| 0:48.2 | We're also going to talk about Jerome Powell and the Fed raising interest rates. |
| 0:52.9 | How high can they go? |
| 0:54.3 | That's the question. |
| 0:55.3 | We got to ask. |
... |
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