Ethereum Goes to Wall Street gm Bankless Nation,
With the first spot ETH ETFs greenlit, Ethereum's turned the corner on institutional adoption, and there's no turning back now! Today's Issue ⬇️ - 📊 Week in Markets: ETH on Wall St.
The mainstream era begins. - 🗞️ Recap: Big SEC Surprise
Gary Gensler backed down. - 🎧 Rollup: ETH ETFs Approved
ETH can no longer be ignored. - 🕰️ Catch Up: What We Published
Bankless Onchain. Basecamp 101.
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Sponsor: ORA — ORA is Ethereum’s Trustless AI, bringing Onchain AI to life. . . . GO BANKLESS Don’t Miss This Deal! You still have time to take advantage of our special discount offer. Through May 27th, when you become a Bankless Citizen, you can claim 15% and 30% subscription discounts. Make the most of this opportunity to become a well-informed crypto investor with Bankless. . . . THIS WEEK IN MARKETS The Big SEC Surprise 🤯 Approval Relief. Ethereum’s spot ETF was shockingly approved and the crypto market landscape will never be the same! What happened this week in markets accordingly? . . . WEEKLY RECAP ETH on Wall Street 1️⃣ ETH ETF Approved in a Break-Neck PivotThursday marked another historic event with the SEC approving eight spot Ethereum ETFs from institutions like BlackRock, Franklin Templeton, Fidelity, and VanEck. While these approvals signal a regulatory shift, especially after the complete 180 the agency seemed to pull, trading can't commence until the S-1 registration statements are approved, which may take weeks. While the ETFs are expected to attract billions in capital, further boosting institutional interest in crypto, it seems like the next few weeks to months may be the quiet before the storm. 2️⃣ House Passes CBDC Anti-Surveillance State Act and FIT21Also on Thursday, the U.S. House of Representatives passed the CBDC Anti-Surveillance State Act, blocking the Federal Reserve from issuing a central bank digital currency without Congressional approval. The bill, supported by 213 Republicans and 3 Democrats, aims to align any U.S. CBDC with American privacy values and free market competitiveness — essential given the potential for these tools to significantly compromise individual rights to freedom. Meanwhile, the House also passed the Financial Innovation and Technology for the 21st Century Act (FIT21), empowering the CFTC alongside the SEC to regulate the digital assets market. Both bills now move to the Senate, marking significant steps in shaping America's crypto regulatory landscape. 3️⃣ Jupiter’s GUM Alliance Aims to Bring Everything OnchainSolana DEX aggregator Jupiter announced its Grand Unified Markets (GUM) initiative to create a “single atomic market” on Solana. Featuring partnerships with the Solana Foundation and market makers like Wintermute and DWF Labs, the GUM Alliance intends to create liquid markets for not only crypto but also real estate, forex, stocks, and bonds on Solana. In other words, tokenize everything. 4️⃣ Farcaster Raises $150M to Grow its User BaseDecentralized social network Farcaster announced a $150M fundraising round led by Paradigm, with participation from a16z, Haun Ventures, Union Square, and more. The funds will be used to grow its user base and add developer tools. Since October, Farcaster has seen a 50x increase in network activity, boasting almost 35K unique daily users. While it struggles with some spam and bot activity, as all social media does, Farcaster's growth indicates strong demand for its network and, in turn, onchain social media. 5️⃣ Genesis Winning Approval to Pay Creditors, Beating DCGLast cycle’s debauchery seems to officially have come to a close with a U.S. bankruptcy court approving Genesis's Chapter 11 bankruptcy plan, allowing the return of about $3B in cash and assets to creditors. A victim of 3AC and FTX, Genesis won its case over parent company DCG, who will now eat a loss due to the judge’s ruling. Gemini, a major creditor of Genesis, will start reimbursing customers 97% of their losses from its defunct Gemini Earn program by the end of the month.
FRIEND & SPONSOR: ORA ORA is Ethereum's Trustless AI. ORA's Onchain AI Oracle brings Llama 3, Stable Diffusion, and OpenLM models onchain. You can start to earn ORA Points for using onchain AI at ora.io/app/tasks. Follow @ORAProtocol on X for the latest Onchain AI updates, hackathons, and rewards. . . . WEEKLY ROLLUP ETH ETFs Approved It was a landmark week for Ethereum thanks to the approval of the first ETH ETFs in the U.S. In the latest rollup, David & Ryan talk about how the markets have reacted to this monumental development, plus they dive into other big happenings around the crypto regulatory front. Listen in! 👇 . . . GET CAUGHT UP What We Published 📰 Articles:📺 Shows: | 
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