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Why ConsenSys is Suing the SEC | Joseph Lubin & Matt Corva

Bankless

Release Date: 05/01/2024

Autonomous Worlds | Lattice’s Justin Glibert show art Autonomous Worlds | Lattice’s Justin Glibert

Bankless

In today’s episode, we’re exploring the frontier of onchain universes, on Ethereum. Autonomous Worlds is the new frontier of digital onchain universes, being pioneered by the Lattice team, of which Justin Glibert on the show today is the co-founder and CEO. Ethereum is not just a financial computer, but a root of state for an infinite number of universes, all with their own laws of physics, objects, players, agents, and state… and, like our universe, still continues with, or without, our presence. Justin walks us through the evolution of Autonomous Worlds. Get ready because you're going...

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✨ DEBRIEF | Ryan & David unpacking the episode:   ------ Bankless listener, if you want to survive this decade as an investor, as a market participant or even just as a citizen, you have to tune in to this episode with author and investor, Lyn Alden. We’re entering a new era. “Nothing Stops this Train” as Lyn would say. We’ve entered the Era of Fiscal Dominance. - What era is this? - Who will be the winners and losers?  - What about capital controls? - How can you prepare?  - How will Crypto perform? We get into all this and much more in what is a must-listen...

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Today we explore David's idea that this cycle is cooked and Ryan has some question starting with... what does that even mean? On this week's episode of Bankless Takes we answer that question and so much more as we take a deep dive into token distributions and how they're playing out this time around.  ------ 📣 TRANSPORTER - SECURED BY CHAINLINK CCIP | TRY IT OUT https://www.transporter.io/ ------ BANKLESS SPONSOR TOOLS: 🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE   🔗CELO | CEL2 COMING SOON       ⚖️ARBITRUM | SCALING ETHEREUM   🛞MANTLE | MODULAR LAYER 2...

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✨ DEBRIEF | Ryan & David unpacking the episode:   ------ What’s the Endgame for Bitcoin Scaling? That’s what we asked bitcoin builder and researcher Eric Wall. We start by exploring the evolution of Bitcoin and the genesis of scaling solutions on top of it. We then get into the intricacies of the BitVM, what exactly is a Bitcoin L2 and what’s coming next. Eric is the perfect guest to explore this frontier of Bitcoin Rollups, he tells it like it is and he understands both Ethereum and Bitcoin. ------ 📣 SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24    ------...

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Bankless Friday Weekly Rollup First Week Of May ------ 📣 TRANSPORTER - SECURED BY CHAINLINK CCIP | TRY IT OUT   ------ BANKLESS SPONSOR TOOLS: 🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE      ⁠  🛞MANTLE | MODULAR LAYER 2 NETWORK    🌐 CARTESI | APPLY FOR A GRANT   🔗CELO | CEL2 COMING SOON    🏠 CASA | SECURE YOUR GENERATIONAL WEALTH    🗣️TOKU | CRYPTO EMPLOYMENT SOLUTION    ⚖️ARBITRUM | SCALING ETHEREUM    ------ TIMESTAMPS & RESOURCES 00:00:00 Start 00:01:04 David's Eye Update  ...

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While it's still early in the race, Base is now one of Ethereum’s largest L2s.  In today’s episode, we brought back on repeat guest and co-creator of Coinbase’s L2, Base, Jesse Pollak.  We cover: - How Base plans to bring billions of users onchain - How Base is increasing its scale by 400x - How Coinbase is using Base to be more onchain  - Onchain Summer II ------ 📣 TRANSPORTER - SECURED BY CHAINLINK CCIP | TRY IT OUT ------ BANKLESS SPONSOR TOOLS: 🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE      ⁠   🛞MANTLE | MODULAR LAYER 2 NETWORK...

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Why ConsenSys is Suing the SEC | Joseph Lubin & Matt Corva show art Why ConsenSys is Suing the SEC | Joseph Lubin & Matt Corva

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“The U.S. is trying to disconnect from Ethereum," that’s what Joe Lubin the CEO of Consensys said in today’s conversation. He was talking about those in power trying to unplug Ethereum from the citizens. The SEC is going after Kraken, Coinbase, Uniswap and Metamask. They’re trying to turn every non-custodial wallet into a broker-dealer. We brought on Joe Lubin, a crypto OG and CEO of Consensys the company behind a number of massive crypto projects including the popular Metamask wallet, and Matt Corva, the General Counsel at Consensys, leading the charge against the SEC  Joe and...

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Eigenlayer token details are here! Don’t call it an Airdrop - This is a Stakedrop — because that’s the only thing you can do with your EIGEN tokens out of the gate.  15% of the total Supply of Eigen distributed over multiple Seasons, Season 1 starts today with 5% of the supply, and one of the most sophisticated set of smart contracts on Mainnet. EIGEN is not your typical ERC20 token. It’s got this feature called “Intersubjective Forking” that increases the scope of what Eigenlayer can provide security for.  In addition to the token details getting released, we’re also...

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More Episodes

“The U.S. is trying to disconnect from Ethereum," that’s what Joe Lubin the CEO of Consensys said in today’s conversation. He was talking about those in power trying to unplug Ethereum from the citizens.

The SEC is going after Kraken, Coinbase, Uniswap and Metamask. They’re trying to turn every non-custodial wallet into a broker-dealer.

We brought on Joe Lubin, a crypto OG and CEO of Consensys the company behind a number of massive crypto projects including the popular Metamask wallet, and Matt Corva, the General Counsel at Consensys, leading the charge against the SEC 

Joe and Matt are producing evidence that the SEC is coming after Ethereum itself. Sending discovery requests to Ethereum core developers, threatening their employers - pushing a coordinated effort to claim Ether is a security so they can control it.

So Consensys is taking them to court to settle the issue. If they’re successful it’ll be the first time we get a clear court ruling that Ether is a commodity and not a security.

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TIMESTAMPS

0:00 Intro
6:35 SEC vs. Ethereum 
9:45 The Uniqueness of This Case
11:15 88,000 Pages to the SEC
12:11 SEC Going After Devs? 
14:47 The Wells Notice
16:27 ETH ETF
17:58 Outcome of Consensys Winning  
21:29 U.S. Law Process & Timeline
25:55 Ether Isn’t a Security
34:50 Gary’s Confidence Conspiracy  
41:17 MetaMask Isn’t a Broker Dealer
47:10 What is Prometheum? 
51:10 How Can the SEC Win? What Happens to Crypto? 
55:49 What the Crypto Community Can Do
59:50 What Happens Next?
1:03:15 Closing & Disclaimers

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RESOURCES

Consensys Complaint 
https://consensys.io/crypto-regulations/defend-ethereum 
https://assets.ctfassets.net/gjyjx7gst9lo/Bu1bK7DF3tSig9Atde0lM/2fcaadea2b111a8c3f3ebce4a6a2386c/Consensys_sues_the_SEC_in_defense_of_the_Ethereum_ecosystem.pdf  

Joe Lubin
https://twitter.com/ethereumjoseph  

Matt Corva
https://twitter.com/MattCorva  

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