🏴 Is This Cycle Cooked?

gm Bankless Nation, points-driven airdrop campaigns aren't letting retail investors get rich, and it's harshing crypto's vibes.

Is This Cycle Cooked? Published on May 6, 2024 View in Browser gm Bankless Nation, Points-driven airdrop campaigns for big VC-backed crypto projects aren't letting retail investors get rich, and it's harshing crypto's vibes. Today's Issue ⬇️ ☀️ Need to Know: Robinhood Hit Robinhood get a Wells Notice. 📊 Today in Markets: GBTC Turns Grayscale gets first spot ETF inflows. 🗣️ Opinion: This Cycle is Cooked The 'points' meta isn't sustainable. 🎧 Latest Pod: VCs vs. Retail Are the VCs stealing your upside? p.s. Thanks to Transporter. Underpinned by Chainlink CCIP, Transporter is an app for bridging tokens across blockchains with seamless UX and 24/7 support. Try it out at transporter.io! Sponsor: Kraken — Sign up for an account and see what crypto can be. Sign up for Kraken .  .  . NEED TO KNOW Robinhood Next? 🪶 Robinhood hit with Wells Notice. The stock and crypto-trading app is likely the next crypto exchange facing the ire of the SEC and its anti-crypto agenda after receiving the notice of potential future enforcement action. 🤔 Coinbase hit with lawsuit. Brian Armstrong and Coinbase are facing a class action suit from investors who say that they suffered losses as the result of being sold illegal securities in the form of SOL, MATIC, and other tokens. 🌊 Justin Sun apes into Swell. With a 120k ETH deposit into the Swell L2, the billionaire Tron founder’s now massive 40%+ position is raising eyebrows ahead of the project’s planned airdrop. .  .  . TODAY IN MARKETS Grayscale Turns it Around 📊 GBTC Goes Big. The Grayscale Bitcoin Trust (GBTC) experienced its first net inflow since converting to a spot ETF! Did we just enter a more bullish paradigm, or is there an alternative explanation for this unexpected inflow? Read More Analysis on Bankless.com Prices as of 6pm ET 24hr 7d Crypto $2.35T ↘ 0.3% ↗ 0.4% BTC $63,465 ↘ 0.5% ↗ 0.5% ETH $3,082 ↘ 1.5% ↘ 3.1% .  .  . OPINION Why This Cycle Is Cooked Bankless Author: David Hoffman Is this cycle already over? A confluence of factors has led to structural problems with the vibes in crypto: an overabundance of VC capital, a lack of new entrants, and an overbearing regulator. Why are the factors causing these problems, and who are the ones losing out because of them? Read the article!👇 Read the Full Rundown FRIEND & SPONSOR: KRAKEN Kraken is one of the largest and most secure crypto platforms in the world. They've been in the crypto game for over a decade, and now they're inviting us all on a journey to see what crypto can be. Sign up for Kraken .  .  . LATEST POD VCs vs. Retail Investors Are crypto VCs and retail investors sworn enemies in this cycle? Today we explore the frontier of Venture Capitalists vs Retail Investors, are they at war? That’s exactly what we debate on the show with crypto writer and VC Regan Bozman. Bankless Citizens get an exclusive Debrief of the episode 👇 Watch the Full Episode .  .  . GO BANKLESS Don't Miss Another Airdrop! Thousands of Bankless Citizens scored an average of $3,500 worth of tokens after Ether.fi's airdrop. Did you miss out again? Ether.fi was in the Bankless Airdrop Hunter, and you could have gotten into the latest drop by following our quests! There are nearly 80 other crypto protocols in Airdrop Hunter waiting for you. Upgrade Your Account Manage your account Not financial or tax advice. Bankless content 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 we may add links in this newsletter to products we use. We may receive a commission if you make a purchase through one of these links. Additionally, the Bankless team holds crypto assets. See our Investment Disclosures | Terms & Conditions | Privacy Policy Bankless © 2024 – Unsubscribe