Bitcoin & Geopolitical Threats ($)
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- 🇪🇺 EU Regulators Force Coinbase Removal of 'Non-Compliant' Stablecoins. Tether's USDT could soon be delisted by Coinbase as MiCA regulation goes into full effect.
- 🟠 IMF Urges El Salvador to Scale Back Bitcoin Adoption. The International Monetary Fund is sounding alarms around President Bukele's BTC push.
- 💪 September U.S. Jobs Numbers Push Crypto Prices Higher. A resilient labor market could complicate Wall Street's expectations for aggressive rate cutting.
In the latest Rollup, we discuss escalating global tensions and their impact on crypto markets, questioning whether Bitcoin is a risk-on or risk-off asset in times of instability.
We also cover legal developments around Tornado Cash, the potential for an XRP ETF amid SEC scrutiny, and Visa’s new fiat tokenization platform on Ethereum. Plus, don’t miss details on the upcoming Kain vs. David fight at Permissionless!
Hear all of the analysis! 👇
📸 Daily Market Snapshot: The crypto market wrapped the week on a high note as tokens pumped across the board, largely driven by positive reactions to the latest U.S. jobs numbers.
| Prices as of 5pm ET | 24hr | 7d |
|
Crypto $2.17T | ↗ 2.8% | ↘ 6.5% |
|
BTC $62,322 | ↗ 2.6% | ↘ 5.4% |
|
ETH $2,427 | ↗ 3.7% | ↘ 9.9% |
|
APT $9.11 | ↗ 7.5% | ↘ 8.8% |
Blur has had a rough 2024. The exchange saw gains and losses from its close association with the Blast L2, and the NFT market hasn't exactly been killing it lately either. But this has been a big month for BLUR's token, up a whopping 44% during a period where ETH has stayed flat.
In our latest update to Bankless Guides, we've shipped a new version of our Blur primer, capturing its activity, functionality, and future prospects.
Let's dig in 👇
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🧑🌾 Farming Alpha: Onchain dollar yields stayed strong this week. While BTC restaking returns have been cooling off, WBTC yields jumped ahead of the big custody changes happening next Tuesday. Restaked ETH yields are still down, but there’s a token-incentivized Convex pool offering solid returns on LSTs.
Top Opps:
- 🟠 BTC: 16% APY with Fraxlend’s WBTC pool on Ethereum
- 🟠 BTC: 7% APR with Convex’s EBTC-tBTC pool on Ethereum
- 🟠 BTC: 7% APY with Pendle’s LBTC (Corn) PT on Ethereum
- 🔵 ETH: 17% APR with Convex’s rETH-frxETH pool on Ethereum
- 🔵 ETH: 7% APY with Pendle’s agETH PT on Ethereum
- 🔵 ETH: 6% APY with Pendle’s amphrETH PT on Ethereum
- 🟢 USD: 24% APR with Aerodrome’s DOLA-USDbC pool on Base
- 🟢 USD: 22% APR with Convex’s crvUSD-sFRAX pool on Ethereum
- 🟢 USD: 13% APY with Pendle’s sUSDe PT on Ethereum
- 🟢 USD: 11% APY with Kamino’s PYUSD-USDC pool on Solana
Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter 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.