ConsenSys sues the SEC, Stripe crypto payments - The Daily Gwei Refuel #771 - Ethereum Updates

Transcript

hello everyone welcome to another episode of delway refuel W up the latest news in eum ecosystem I'm your host Anthony s and today 26th of April 2024 right everyone let's get into it so welcome to the last refuel episode for about a month as I've mentioned previously I'm going to be on break from the refuel until May 23rd and I'm going to talk more about that at the end but yeah I mean it is a weird feeling saying that because this will be the longest break that I uh will have taken since I took a break I believe for two weeks when I went to Amsterdam like 2 years ago and but that was going to like a crypto conference so I was still out and about whereas this is just a break that I'm taking as you guys know due to burnout that I have been feeling over a

very long period of time actually but anyway as I said I'm going to get to that at the end because I want to get through all the news before I talk about that but let's start off with the biggest news of the last 24 hours which is kind of a funny bit of news to end the episode on because I believe over the next few weeks there's going to be a lot of uh uh uh guess like back and forth about this particular issue that I'm not going to be able to cover so as I said on yesterday's episode uh make sure you're following the right sources but what I'm talking about is that consensus uh the ethereum company consensus the uh the company founded by Joe Luben uh filed a lawsuit against the SEC today so the goal behind this lawsuit uh as they say here is to ensure

that ethereum remains a vibrant and indispensable blockchain platform and to preserve access for the countless developers Market participants and institutions who have a stake in the world's second largest blockchain so the reason why consensus has filed this suit against the SEC is because I think that consensus metamask received a Wells notice from the SEC earlier in the month basically with the SEC saying that we're going to sue consensus over metamask uh uh metamask kind of staking uh I guess like feature and basically saying that they were operating as a money transmedia business from from my reading there uh and also they're trying to go after consensus for the consensus' sales of eth and say that you know them selling eth is a Securities transaction now if you recall uh a judge actually ruled that xrp wasn't a security in the

Ripple case but said that the Ripple lab's sales of xrp to institutional clients uh were Securities transactions at least that's my that's my kind of um remembering of it there uh which means that uh you know they have precedent to stand on here when going up to consensus for this but of course it doesn't mean that the SEC is right here just because the judge ruled on it doesn't mean that the SEC is going to win this case based on uh based on that other case there uh but consensus obviously wanted to get ahead of this and they have filed lawsuit directly against the SEC and what I love about this is that it's continuing the trend of crypto not backing down anymore like when we're done kind of backing down we're done being bullied by the SEC as an industry we now are just taking the fight to them

you know you have consensus preemptively suing the SEC here you have Queen base not rolling over at all over the SEC suing them basically saying you know we're going to fight you for as long as it takes you have unisoft Labs doing the same you had obviously a while ago grayscale uh do the same with the SEC and ripple of course and a few others out there but now the SEC has just gone way too far right they've they've basically gone to the point where uh they've done that scorched Earth approach that I've I've talked about before where essentially everyone in crypto now realizes that if the S if s keeps doing this they're going to push all of the Innovation out of the US absolutely everything out of the US and they're going to uh very much harm the US economy in the grand scheme of things

and also harm us people and US citizens which is the exact opposite of what they should be doing but obviously we know the SEC is not a fair regulator it is not a regulator that is actually acting in the best interest of the people it is acting in the best interest of their political overlords and it's all political I mean I've talked about that a lot on the um the re refill before now another interesting point about this and this was a bit of news from Alan or Ted here in the actual lawsuit consensus hired some of the best lawyers in the US uh to represent them here against the SEC and you can see alen or said here uh watch all lawyers or watch sorry watch toil lawyers or walkt lawyers I don't know how to pronounce that uh she says yeah is widely regarded as one of the best

litigators in the world so not just the us but in the world um and then there's a quote here from from Andrew uh Andrew Keys who is a longtime etherion who says they certainly didn't cheap out on hiring the best law firms in the US so not only uh is consensus taking this to the SEC they're going with all the Firepower they can muster they're getting one of the best litigators in the world to represent them in this case to go after the SEC to get clarity around a whole host of things this isn't just for ethereum guys this is for crypto as a whole here and I think this is probably the best thing consensus has ever done consensus has done a lot of really great stuff for both ethereum and crypto ecosystems at large for those of you who don't know consensus has been

around for a very long time it was one of the first or if not the first company that was founded uh that surrounds ethereum by Joe Lubin which is one of the ethereum co-founders and it's also funded a lot of ethereum development over the years they developed things like met mask and other popular tools like in fura so they've been a staple of the ethereum ecosystem for a very long time now but even in the face of all of that I think this is the best thing they've ever done I think this is going to be so good it's going to cost a lot of money but it's going to be so good to to basically show the SEC that the cryp and show I guess like The Wider us regulatory regime that the crypto ecosystem is not just going to sit there and take it anymore we're going to take

the fight to you and we're going to try out hardest and as hard as we can to win against you by hiring the best litigators in the world which is in insane uh and I I think that given that these companies have you know the money to do this it's great that they're doing you know coinbase unisoft Labs consensus they have so much money and of course they've also got VC backers as well which are you know have funded them but I'm sure they're happy to see that that that money is going towards this use as well because as I said this is bordering on existential threat for crypto in the US if the SEC and other regul Regulators keep being extremely hostile and push the uh push crypto out of the US this is really bad for the US economy uh if you if you believe as I do that crypto is

you know the next internet is the next financial system is going to lead to trillions of dollars of of value generation over decades to come uh and it's also uh really really bad for um for the US persons as well because it just takes away opportunities from us people uh to work within crypto unless they move somewhere else unless they work remotely for an overseas company there and again I guess like US economy loses out here now I will say on this as well uh in in terms of like Democrat versus Republicans there was a bit of discussion about this today I said in the daily gr Discord Channel today without getting too political that like I wouldn't rely on a change of admin here I wouldn't rely on the Republicans winning in order for us to have more favorable kind of crypto I guess like

stances from the politicians I wouldn't rely on that at all guys because I I mean I'm I don't even vote in the US elections obviously because I'm not a US citizen here but like I'm not going to lie I don't really have a feeling that Trump's going to win I feel more like that Biden's going to win and as I said I don't want to dive into the politics here but from everything that I've seen if I was to put a bet on it I put a bet on that and I could be completely wrong on this but that's why I'm also saying that there's no point relying on a change of admin here because that is placing a pretty big bet uh that may not pan out and then you're basically out of luck so by doing this by suing the SEC by going after this

administration's uh kind of regulatory apparatus here and basically getting them to continue to lose in court and and and and getting them to continue to be forced to give Clarity on these things that to me is a much better path than just relying and betting on a change in admin I just don't think that's going to be something that works in our fa favor even if you know Trump was to to win and the admin was to change there is also no guarantee that we have more favorable crypto legislation under Republicans or crypto regulations under Republicans as we do Democrats it probably will be more favorable but there's not a guarantee uh so that's why I'm saying that we shouldn't just like put all our I guess like chips on that we should be doing as much as we can to ensure that uh crypto

survives in the US and crypto continues to thrive in in the US yeah but as I said you know you guys know I'm not a US citizen I live in Australia but obviously the US is the biggest crypto market right now it is the biggest it is basically the center of um you know a lot of the big crypto companies in the world and all that's going to happen is that crypto is not going to die crypto is not going anywhere but what's going to happen is that crypto is going to die in the US if they keep on this path if The Regulators keep on this path and they keep just screwing around people are eventually going to give up and basically say it's not worth it to stick around but at this point in time we haven't given up yet we're at the then

they fight you stage and you know what we're fighting back we're not going to lay down and get bullied anymore so that's why I thought that this was really bullish today not just for ethereum but crypto generally and I think this is the best thing consensus has ever done and I obviously hope they win I hope coinbase wins but as you guys know these things take years to play out unfortunately this is not going to be settled overnight and by the time it even gets settled Gary Gensler may not even be the chair of the SEC anymore that's how long they these things take to play out now the final thing I'll say on this is with regards to the E ETF obviously this is bearish for the E ETF approval because of the fact that if the SEC is being this aggressive if they're

going this scorched Earth then it's safe to say that they you know them approving an eth ETF would be really bizarre right it would be very very bizarre but hey we live in bizarre times so maybe it still happens but you know as you guys know I said that I'd give it to like the end of April before I basically uh you know threw in the here but then I changed my stance on that basically saying that I I'm just going to stick to my yes is getting approved by May 23rd If I'm wrong I'm wrong but no one can be blamed in my opinion at this stage and no one can be faltered for thinking that these things are going to be uh denied based on all of the information that we have and as I like it's not the end of April yet but it's the last refill I'm going

to do in April so I figured it was worth basically saying you know that that's that's basically it guys I think we're at the end here of this this circus is not over but this part of it is this act is the circus is going to continue for years to come unfortunately there's going to be immediate lawsuits filed if the E ETFs get denied we already know that we already know everything that's going into that but as I said like at this point in time I would not fault anyone for thinking with 100% certainty that the eth ETFs are getting denied even with like 95% certainty or something like that uh just based on the facts and circumstances that we have in front of us which is unfortunate you know I'm a big believer in uh you know in staying hopeful till the very last

kind of I guess like chance that you can I'm going to be hopeful right up until May 23rd but now I guess like what I shift to is more about why the SEC is going to deny the e e ETFs what justification are they going to use are they going to say it's because they believe e is in security are they going to use the spot correlation stuff are they going to say that there's too many Active cases against companies in ethereum's orbit so that means we're not comfortable approving an e ETF I don't even know if they could use that reason but hey I don't think they actually care what they can and can't do at this point in time they seem to be taking the Scorch Earth approach I do still think that they're not going to deny the ETFs by saying that they think ether is a

security I I think that they're going to deny for a different reason um but if they do deny based on you know their belief that ether is a security that wouldn't come as a shock to me at this point in time given the behavior of the SEC under Gary gendler and you know this isn't just got to do with crypto either there is a lot of people a lot of people in and outside of crypto even people that don't like crypto saying that this uh SEC is the worst in the sec's history this chair is the worst in history it's doing nothing to protect anyone and doing everything to drive in ation out of the United States which is just absolutely insane but that's the reality that we live in uh today but anyway just wanted to recap all of that for you guys as I said over the next few weeks I'm

sure there's going to be more and more stuff coming out around this and the eth ETS I'm not going to be here to cover it and I'm actually going to be radio silent from May 6 to May 23rd so I'm not even going to know what's going on uh and I'm going to come back on May 23rd and it's going to be quite quite a I I think like jading uh experience for me to come back on that date I'm sure that it's going to be quite fun for me to basically spend that whole day catching up with things but hey that's the denial or approval date we'll have to see what happens uh there all right moving on so another big piece of news over the last 24 hours was that stripe the $80 billion payments network uh or guess like payments uh uh company that has been

around for quite a while now is getting back into the crypto payments game so they showed off a demo at one of their I don't even know what it was it might have been like an investor presentation or something like that um that they're going to start off support start by supporting ethereum Main polygon their polygon POS chain and salana with their crypto payments infrastructure here and I said in my tweet I bet they'll quickly add L2 support with bass being at the Forefront as in my opinion bass is the perfect payments layup for usdc so great to see them just getting back into the crypto payments game here you know I've been doing a fair bit of crypto payments uh recently actually I've um there's a figurine uh store that I I I buy off online and they actually use coinbase Commerce which uses base or and which is

really cool because they use anything that I have on base I've been able to buy figurines with usdc uh with eth and with dgen as well I had some D gen left over that I used to buy figurines on bass so it works it works really well bass is just awesome fast cheap love it right uh and the same is going to be true for stripy yes obviously it's table Stakes to support ethereum mainnet polygon's chain is actually supported by a lot and I can't wait for the POS chain to become an L2 here and obviously salana was is supported as well uh because I I think at this point in time in terms of of like attention on the different chains out there salana definitely has a lot of attention when it comes to payments but as I said I still believe that Bas is the perfect

payments layer for usdc specifically because usdc is 25% owned or circled the company is 25% owned by coinbase coinbase has massive massive vested interest in uh in scaling up usdc and obviously they also have a massive vest invested interest in base so it makes total sense to me that this is going to happen and I could see in the future know all payments that go through stripe using uh usdc on base are free like that is what we've been trying to do for so long now uh with with crypto and it's great to see that we're actually you know seeing the kind of Finish Line here but it also speaks to the fact that you know these big us-based companies like stripe are still getting involved with crypto you know black rock is just like is just like the tip of the iceberg here

yes they are the biggest asset manager in the world but it's them PayPal and Visa have been involved for a while you know have stripe there's so many others out there there's all these Banks out there so I really do think that the the the the um the I guess like hostility we've seen in the US is really just a speed bump I really don't think that the um the SEC or any Regulators or any politicians are going to be able to push crypto out of the US there's just too much involvement from the different us companies big us companies you know especially things like Black Rock and other tradire institutions there there's just too much activity happening there but great to see stripe getting back into the payments game after I think like 8 years ago or 10 years ago they stopped supporting crypto payments but

now they're back into to it and they're supporting ethereum mainnet polygon POS and salana right now with L2 support I'm sure coming soon all right so we have an allore devs recap here from Tim boo now this was a bit of a spicy allcore devs from what I read and saw there has been a lot of discussion around EIP 3074 which is the account abstraction EIP that I've covered on the refuel before a lot of people are I don't know like I don't know if I say up in arms about it but they're very concerned about a few different things and I discussed this on a episode a couple of weeks ago so I'm not going to re it here but there was a lot of discussion about that on the call so if you're interested in that you should go check it out otherwise there

was a bunch of other things discussed such as devet zero uh spec for the um the Petra devet so this will be the first uh Petra devet and there is currently a spec uh uh in place right now or kind of being worked on right now uh there was implementation uh implementation chat about Dev Net Zero there were some more eips slated for inclusion within Petra that was decided on on this call so a 7685 EIP 6110 and 702 have been updated to take into account that 7685 is now included and there are two other eips considered for inclusion 7212 and 7623 bunch of updates given on eips and a and a discussion around L1 L2 governance so

you can go give the whole summary a read for yourself I'll link it in the YouTube description below as well as watch the Youtube stream stream if you would like there I'll of course link that down below for you all right so hero cphs has gotten an updated white paper here so this is fully unclassified so you remember I covered this project a couple weeks ago where the white paper actually had a bunch of it blacked out well the white paper has been updated and the blacking out has been removed so now you can go see what this is all about I'm not going to spoil it for you guys I'm not going to try and tldr it it's a very short wi paper so I highly recommend you go and read it but I'm pretty excited about this project and I can't wait to see uh

how it um how it evolves from here I think that it could move the needle on getting more people involved with solo staking and basically turning degens into Regens as you guys uh you know know that I that's that's one of the things that I really like in the ethereum ecosystem is where we come up with nice creative and innovative ideas of turning like the degenerate Behavior within crypto into regenerative behavior that basically is a net good for the ecosystem so yeah you can go give this updated white paper a read on the heroglyph protocol zerox Macky is the one leading this right now but there are a bunch of other people working on it and some of them are credited in the white paper so I'll link this in the YouTube description below for you to go check out all right so uh this account on

Twitter I haven't come across before it's Tam tamarat tr. eth has announced on in a Twitter thread that uh they've quit their job at Apple to build blob space derivatives and contribute to the E ecosystem so they started off their tweet thread by saying blobs unlock I'm preceded and scaling for l2s but have huge gas spikes and price volatility they lack financialization like hedging and fractionalization so uh basically what tomorrow wants to build is blob space derivatives uh which I think has been talked about for a little while uh and has been uh something that people have been speculating on that would come to market for a little while uh but essentially what this is It's like a Futures Market I guess for for blobs it's it's basically if you consider

blobs to be a commodity you can basically bet on this commodity and there's a whole blog post here describing this I'll link it in the YouTube description below but the tldr is that uh you know she's developing um the financial markets for ethereum Block space designed to increase efficiency around price Discovery and improve the user and developer experience for data publication to ethereum uh and then the rest of the post goes into details around this now I think this is really cool you know it's very similar to what people have tried to do with just like the normal gas markets in the past where essentially you could create derivatives around um gas where by when it's you know it's low like right now when it's single digits and then use that when it's more expensive you used to be able to do that in protocol with um G refunds which

actually got removed from the protocol because it was quite toxic to the protocol it wasn't actually a you know a positive for the protocol uh but building uh I guess like derivative products on top building kind of Futures products on top of these markets or of these kind of in protocol markets is a really smart way to do it because it's not being done at the protocol level it's being done extra protocol but it still offers a solution for those who want to take advantage of it so you can go check this out I'll link the blog post in the YouTube description below uh for you to do so all right so you can now swap tokens from any supported chain onto arbitrum using Robin Hood's wallet so and the best part is that Robin Hood takes zero fees here so this flies under the radar

a lot and I don't understand why this is a pretty big deal guys you know Robin Hood has a lot of non- crypto users they definitely do have crypto users but a lot of the people that use Robin Hood are very much trading stocks and like options and kind of tradire things right like in in the tradire world not necessarily crypto related things but arbitrum is working closely with Robin Hood to make it so that people can essentially use the arbitrum ecosystem and arbitrum networks to buy crypto assets all all fully onchain in in a non-custodial way I believe as well and as I said this has flown under the radar it's just not something that I see people being excited about which is absolutely bizarre to me this is a huge partnership guys like this is a real partnership it's not one of those fluffy

fluffy marketing Partnerships that people kind of come up with in order to pump a token this is real this is something that that real users of Robin Hood can take advantage of and real users of arbitrum can take advantage of as well which is uh great to see here so this is being powered actually the the actual bridging by uh lifi protocol in in the background here um and which is really cool and you can download the app on IOS and Android if you haven't yet for for Robin Hood um but this is cool cross chain swaps on ethereum and arbitrum and polygon POS chain using lifi uh I I hope to see more of this uh kind of action happening on Robin Hood but also on other tradire platforms I think that eventually you're going to see like all of these tradire platforms offer crypto Trading uh not just crypto

trading but offer like onchain things and I'm curious to see where that all lands like does it all land in the ethereum ecosystem or do these other things uh do these um tradire institutions just support everything I do think they're going to start off by supporting the ethereum ecosystem first because it's the largest and it's got the most liquidity and it's easy to integrate with because a lot of it is just evm based so there's no need to CH change things around from going from kind of chain to chain here because you know most of the l2s are evm based as well so that's really really great to see there but you can check out more details about this I'll link it in the YouTube description below for you to do so right speaking of l2s and evm l2s and non evm l2s uh there was a a project

that I mentioned or talked about a little while ago called movement uh that is developing a move based layer to on ethereum here now a discloser I am an adviser to movement here I think what they're building is really cool I think the move ecosystem has a lot of potential and I'd love to see that potential realized as a layer two on ethereum obviously there are layer ones out there like Aptos that are using move but as you guys know I'm a layer 2 guy I'm a modular guy I much prefer these things done at layer 2 well the reason why I'm bringing up movement today is because they announced that they had a $38 million series a round LED by polychain here that's a pretty big round guys I think and it just speaks to the fact that ler 2os on ethereum are attracting a lot of capital A lot of

capital into their fundraisers a lot of attention because I think that even if these I guess like VCS or whatever they you want to call them or these investors or whatever they are think that the l1's uh that they're investing in is going to return them you know money or or or be a return on investment they may not believe that it's actually going to be a long-term sustainable solution here and I think that if that you talk to the smartest people in this ecosystem in the crypto ecosystem at large most of them will say that the layer 2 or modular road map is the sustainable solution you don't know who's going to win you can't really pick winners right now um you know I think that there's a strong case to be made that ethereum is going to be the winner and he's already the winner

and will continue to be the winner into the future uh but that's just my take a lot of people can't really decide on a winner that they want to pick I think ethereum is going to win don't know which l2s are going to win you know we've seen that the the fact that things can change very quickly you know arbitrum 1 has been leading and is still leading uh for on the L2 side but Bas has been having a a really good time over the last few months it's gotten a lot of new activity into it and it's climbing up the ladder of both activity and tvl there so yeah it really is anyone's game you can't look 5 to 10 years out and have any certainty over which L2 is going to succeed I can look out 5 to 10 years and say uh with 100%

certainty that I believe ethereum is still going to be at the Forefront of everything in this ecosystem but when it comes to l2s I have much less confidence in in any of them I think that like they're all great teams they're all building really great stuff but it's really hard to know which one's are going to be the winner so in that world what investors want to do is they want to diversify their bets on these different al2s uh and that's why they're funding things like movements and and other al2s out there is because they want to be you know they want a piece of everything and they want to make sure that they can have exposure to all of it and that's the same for me when I invest in the l2s when I advise them I want to be across as many of them as possible as

well because I don't know who the winners are going to be either I want to be at the Forefront of all of them I especially want to be uh involved with the nonm ones because I think that's going to be a big thing even though the evm is still going to remain dominant for the foreseeable future I think the non-m chains are going to be very exciting as well and they're going to open up a you know many New Paths uh into the ethereum ecosystem for developers that don't know solidity but know other languages and there's plenty of those there's way more of those than people who know solidity here but anyway congrats to movement on the race here you can learn more about them I'll link it in the YouTube description below for you to do so all right last up here speaking of

l2s Bas now has the most usdc usdc after ethereum so you can go to usdc docool to actually see these stats and in order to see that Bas has more usdc than ethereum you have to tick this bridged usdc uh thing here so you can see on this website that ethereum mainnet has $24 billion worth of usdc Bas has $2.5 $45 Million worth of billion dollars worth of usdc and salana is in third place with $22.44 billion of usdc on there and then you have the long taale of others I mean album is pretty much up there as well $ 1.4 billion and then there's all the other networks listed here as well but you can see here that ethereum just dwarfs absolutely everything you know $24 billion compared to B's $2.4 billion

I think that that's going to change relatively Qui quickly I do think that as I said coinbase and circle have a very big vest vested interest in making sure that bass is the usdc payments layer and can scale usdc up especially in the face of all the tether competition so I do think you're going to see that change but in terms of other networks look I think that they're all going to be like they're all going to keep growing uh but if you untick bridged here a lot of them have a lot of bridged usdc in not native usdc there's a very big difference between bridged and Native usdc um and I think that what Circle wants to do is they want to increase the amount of native usdc on base not bridged usdc and that's why you can see that most of the usdc on base I

believe like 2.37 billion of it out of the two total 2.45 billion is native usdc not bridged and and I believe that uh uh most of it on ethereum is native as well so very cool to see this very cool to see that Bas is caught up very very quickly here and I believe that Bas is definitely going to be the payments layer of the future as I was discussing uh before U but yeah I think that's it for all of the new news guys and that's it really I'm getting a little bit emotional here that is the last episode for a month of the refuel now just a few housekeeping items before I leave you all for a month so first off I will still be active on socials so on Discord and Twitter until May 6th because I'm going to a

conference in Sydney next week and I figured that there's no point not being Conta contactable on socials because there's going to be a lot of stuff going on so I want to be able to be contactable on there but there will be no refuel during that time from starting from today basically after this episode there will be no refills until May 23rd that will be the first episode I do when I get back and I've decided that what I'm going to do is I'm going to split it up into multiple episodes when I get back I'm not going to do a mega episode of like 3 hours going over everything I'm going to record it uh as 3 hours honestly and then I'm going to break it up into into multiple episodes uh because I I I think that releasing them over time as well is just better for

everyone so I'm going to do that when I get back I believe May 23rd is a Thursday so what I'm going to do is let me have a look here May 230 is a Thursday so what I'm going to do is on that Thursday I'm going to record the mega episode then going to I'm going to split it up into 30 minute chunks to release on Thursday Friday Saturday and Sunday so that we'll give you guys 4 days of uh of of refills in a row there uh when I get back and then go back into the normal Cadence from that uh following Monday there so yeah just to repeat we'll be active on socials until May 6th but then from May 6th until May 23rd I will not be available on socials I will not be on Twitter farcaster Discord nothing I'm removing all the

apps from my phone I'm closing down everything on my computer I am going to be completely un uncontactable on there I will still be responding to emails and telegram messages which are critically important for things like you know teams that I'm invested in or things that I have to follow up I'll still be replying to those sorts of things but generally I'll be trying to be as disconnected as possible from uh crypto because I really think that I need to take a a a proper break and not just a break of oh yeah I won't do the refuel but I'll still be on Twitter no I need to be completely disconnected from it and I'm hoping it really Reen energizes me because I'll be honest guys at this point in time I have become very disillusioned with crypto not with ethereum I obviously love ethereum but crypto generally is such a

Cess pit like I hate the crypto ecosystem if I'm being honest guys I love the ethereum ecosystem but the broader crypto ecosystem does not Vibe with me at all I don't Vibe with any of it honestly and you can call me an eth maxi for this but I just don't Vibe with any of the other stuff if it wasn't for ethereum I wouldn't be in crypto it's simple as that now I've also become because I'm I'm so you know involved with ethereum involved with crypto I've become very burnt out and need this break because of that as i' as I've described before so I I'm hoping that I It recharges me because the disillusionment I have towards crypto generally right now is really bad like it's really bad guys I mean the other day I almost raged quit and just threw in the tow because I was just at my wits

end of like why am I even doing this if I just like feel like about it all the time like if it's not bringing me joy anymore why am I doing this and then you know I talked to some friends about it and I I let let things settle for a couple days you know I was like you know what I absolutely love ethereum I still love ethereum I love everything about ethereum it makes me so happy doing the refuel makes me so happy being in the ethereum ecosystem it's the wi crypto space that has just got me down and also the general burnout that I feeling after not taking a break for so long uh there but I I and I do want to end this here you know I don't want to ramble too on but I do want to end too long for too

long I do want to end this here by saying to you guys that do not be afraid to speak up when it comes to mental health I think that there is this like stigma around mental health which I absolutely hate of people being afraid to speak up or thinking that it makes you look weak if you speak up or thinking that no one else uh you know feels the way you do and they're going to just like look at you like you're weird or silly like I'm here to tell you that like I believe that there are a lot of people that you'd be shocked to know in the crypto ecosystem that feel the same way I do right now uh and that feel potentially even worse than I do about the crypto ecosystem uh generally but also they feeling they're feeling the burnout that I'm feeling too they're

feeling the disillusionment that I'm feeling too and I think that a lot of us get stuck into this mindset of being on always on with crypto 24/7 and it really erods at our brain's ability to deal with things it really erods at our at at our general ability to filter through things so please don't be you know cons shy or don't be don't feel like you can't speak up about these things you know in the daily grade disc score Channel we have a mental health channel in there feel free to speak your mind in there there'll be plenty of people uh in there to to speak with and to talk with and you don't have to go too deep you don't have to say things you don't want to say that you you feel like you don't uncomfortable saying but really it is good to talk I think it is good to talk

about this stuff it is good to get it out and it is good to take a break I mean I already am very much looking forward to my cold turkey break on May 6th like I I'm very excited for it because it as I said it's the first time I'll be doing this in like s years uh where I actually won't even be looking at prices I will not know what the price of eth is between May 6th and May 23rd I've already told all of my friends that are in crypto my real life friends guys I don't want to talk about crypto at all don't talk to me about crypto when we see each other don't tell me what the price of eth is nothing so it'll be the first time in since early 2017 that I will not know know the price of eth for

even a single day even a single 24-hour period and I'm doing it from May 6 to 23rd I'm looking forward to that I know it sounds weird but like that's kind of where I'm at right now so yeah anyway uh I think that that's it guys like uh thank you for sticking with me hopefully you'll be here when I get back on the 23rd of May there uh and yeah as I as I mentioned yesterday please make sure to get your news from good sources do not believe uh all the narrative do not believe all the fake news stick to the good sources uh stick to what you know check in the daily grade Discord Channel if something is true or not there's a lot of good great people in there it's still going to be up I'm not shutting down the Discord or anything

like that I just won't be in there there's mods in there to deal with Spam and scams and stuff like that so that's all set there and I'm trusting that the the gay Guardians as I call them the mods on there to do that for me uh but other than that yeah this will be this will be it that's it I will see you guys on uh May 23rd when I when I get back for that Mega episode or that I guess like those four episodes in a row but I'll be recording it as a mega episode episode there so yeah thanks everyone for listening and watching be sure to subscribe to the channel if you haven't yet give that video a thumbs up subscribe to the newsletter join the Discord Channel and I'll catch you all on May 23rd thanks everyone