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Daily Brief

Solana's Oval Office Opp

Citizen Brief: gm Bankless Nation, upgrade to get the goods.
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Jan 23, 20253 min read
Solana's Oval Office Opp
Published on Jan 23, 2025
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Sponsor: Frax — Fraxtal Ecosystem: Where DeFi Meets AI.

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NEED TO KNOW
Trump's Crypto Decree
  1. 🇺🇸 Trump Announces Creation of Crypto Working Group. Trump's latest executive order tasks czar David Sacks with creating a working group to tackle regulation.
  2. 💸 Binance's CZ Returns to Rebranded Binance Labs as Investor. The Binance founder is done sitting on the sidelines after his brief prison term.
  3. 🚔 Ledger Co-Founder Safe Following Kidnapping. David Balland had been taken from his home in France on Tuesday.
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Daily Market Snapshot: Bids on a number of top AI Agent plays dropped Thursday, with AI16Z (-30% WoW) and VIRTUAL (-23% WoW) hit particularly hard. This happened as OpenAI debuted its first agent product, Operator, which laid out the wide potential of agents but perhaps also highlighted how many of those opps could likely be realized by centralized LLM owners.
Prices as of 6pm ET 24hr 7d
Crypto $3.60T ↗ 0.6% ↗ 2.3%
BTC $104,354 ↗ 0.5% ↗ 4.5%
ETH $3,334 ↗ 2.9% ↗ 1.1%
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DEEP DIVE
Citizen-Only: Solana's Meteora Trade
Bankless Analyst: Jack Inabinet

Solana was perhaps the biggest beneficiary of President Donald Trump’s recent foray into memecoins, and its Meteora exchange has been at the center of the madness, processing billions of dollars in transactions each day as traders rush to acquire TRUMP.

Meteora received the honor of being the initial source of onchain liquidity for TRUMP tokens, a potent first-mover advantage that allowed it to amass over $750M in new deposits and triple total value-locked overnight!

Today, we dissect this rapidly growing tokenless exchange. 👇

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CHEAT SHEET
Surf the Rainbow

Every Thursday, Citizens get access to the top Market Plays, Hot Reads, Farming Opps, and Airdrop Hunts that our analyst team is tracking! Don't miss out! 👇


FRIEND & SPONSOR: FRAX

The Fraxtal ecosystem is expanding at lightning speed—this month’s biggest highlight is IQAI.com, the newest Agent Tokenization platform from IQ and Frax. IQ is building autonomous, intelligent, tokenized agents launching on Fraxtal in Q1. Empower on-chain agents with built-in wallets, tokenized ownership, and decentralized governance—all within a fast-growing Fraxtal ecosystem.

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CITIZEN-ONLY TOKEN RATING
Ethena's Yield Depression?
Bankless Analyst: Jack Inabinet

Every weekday, our analyst team gives a bullish or bearish rating on a new token. Get access to the Token Hub by becoming a Citizen! 👇

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.