The SEC After Gary
View in Browser
Sponsor: Mantle — mETH Protocol kickstarts Season 2 of Methamorphosis.
- 🟠 BTC ETF Options Bonanza. iShares Bitcoin ETF (IBIT) options debuted with nearly $2B in notional volume and attracted heavy bullish call sentiment.
- 📈 MicroStrategy Increases Convertible Note Sale. MicroStrategy is upping the size of its latest bond offering by 50% and has been the most actively traded stock in the world today.
- 👨⚖️ FTX Co-Founder Sentenced. Gary Wang will not face prison time in connection with his role at the collapsed crypto exchange.
📸 Daily Market Snapshot: While upside was nonexistent for many crypto tokens today, bitcoin achieved new all-time highs just below $95K on news that MicroStrategy will accelerate its cash raise to buy even more BTC.
| Prices as of 6pm ET | 24hr | 7d |
|
Crypto $3.04T | ↘ 0.6% | ↗ 4.9% |
|
BTC $94,004 | ↗ 0.9% | ↗ 4.4% |
|
ETH $3,057 | ↘ 2.4% | ↘ 3.5% |
President-Elect Donald Trump stole the crypto industry’s heart with promises to end the Biden Administration’s anti-crypto crusade and “fire” SEC Chair Gary Gensler on day one.
While Trump has yet to propose a Gensler replacement and his ability to relieve sitting SEC commissioners appears legally dubious, crypto participants are nonetheless ecstatic about prospects that a new SEC chair will soon alleviate one of the industry’s greatest regulatory pain points.
Commissioners Hester Peirce and Mark Uyeda may have already removed themselves from contention for the chair, but both have been outspoken advocates for digital asset liberties and regulatory restraint throughout their tenures at the SEC.
Today, we explore their dissenting statements in hopes of gleaning what a pro-crypto SEC might look like under Trump. 👇
Season 2: Methamorphosis is now live on mETH Protocol, following the launch of their governance token, COOK, and cmETH, the liquid restaked version of mETH. With cmETH, holders can enjoy yields across multiple restaking protocols like Karak, EigenLayer, Symbiotic, while earning Powder for more COOK.
You're not bullish enough (on based rollups).
In this episode, Spire Labs co-founder Mteam introduces the concept of "Based Rollups" and details how they help ETH's value accrual properties.
Many attendees at Bankless Summit 2024 considered this to be the most technically impressive talk they heard. This session should serve as a call to action for crypto enthusiasts to recognize the unparalleled potential of Ethereum and its native asset, ETH.
Catch the full presentation to learn why it’s impossible to be bullish enough on based rollups and their value accrual benefits for Ethereum! 👇
Get the full Bankless premium experience – featuring exclusive content, ad-free podcasts, access to Token Hub, and more!