A new story from Bankless
Welcome to Bankless, where we explore the frontier of internet money, and we protect that frontier from rogue, unelected regulators whose sole focus appears to be stopping anyone from exploring and settling on that crypto frontier. Bankless Nation, on Monday, the SEC announced their lawsuit against CZ and Binance. On Tuesday, yesterday, while Coinbase's chief legal officer was busy testifying in front of the House Agricultural Committee about a new and progressive market structure bill for digital assets, the SEC announced their lawsuit against Coinbase. What are they accusing Coinbase of exactly? Allowing securities to trade on its platform, an activity that is integral and fundamental to both Coinbase and the entire crypto industry, and is also an activity that the SEC themselves approved of when they allowed Coinbase to become a public company back in 2021. So what gives? What gives is the question. And today on the show, we're bringing on two legal minds to help answer that question. Legal minds from outside of Coinbase. We had Paul Graywall on yesterday to give us the Coinbase perspective. But today on the show, we have Jake Stravinsky and Amanda Tuminelli from the Blockchain Association and the DeFi Education Fund to give their independent objective perspectives on the matters at hand. But before we get into that, into the conversation with Jake and Amanda, first got to talk about asymmetric protocol. If you are familiar with pool together, asymmetrics is like pool together except for eth staking. Is regular old 4 .5, 5 % eth yield just not boring enough? How about anywhere between zero and a thousand percent? With asymmetrics, you can put all of your ether into the asymmetrics protocol, it will stake it on your behalf, and you have a chance of winning everyone's yield or nothing at all. The yield goes to one lucky winner. Right now, 315 users are competing over 6 .6 ether worth of reward that is accumulated over the last five or six days. Rewards get sent out every seven days. So if you want to add a little bit more excitement to the eth staking in your life, asymmetrics protocol can get you anywhere between zero and one thousand percent yields.