Joining us this week is Alex Thorn to break down why crypto markets are taking a hit. Major hacks, bearish macro signals, and fresh tariffs from the U.S. all played a role. But it’s not all bad news: the SEC is backing off from lawsuits against Coinbase, OpenSea, and Uniswap, signaling a potential shift in regulatory pressure. Plus, Bybit suffered the biggest crypto hack ever, losing $1.5B—how did it happen, and who’s behind it?
Follow Alex: https://x.com/intangiblecoins)
------ 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24 https://bankless.cc/spotify-premium)
------ BANKLESS SPONSOR TOOLS:
🪙FRAX | SELF SUFFICIENT DeFi https://bankless.cc/Frax)
🦄UNISWAP | SWAP ON UNICHAIN https://bankless.cc/unichain)
⚖️ARBITRUM | SCALING ETHEREUM https://bankless.cc/Arbitrum)
🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle)
🌐CELO | BUILD TOGETHER AND PROSPER https://bankless.cc/Celo)
🦋MORPHO | CRYPTO-BACKED LOANS https://bankless.cc/Morpho)
----- ✨ Mint the episode on Zora ✨ https://zora.co/coin/base:0xca607e1fcbdf83f893891742bf2f4933a609a9a2?referrer=0x077Fe9e96Aa9b20Bd36F1C6290f54F8717C5674E)
TIMESTAMPS & RESOURCES 00:00:00 Intro To Alex
00:01:21 Market Breakdown https://www.cnbc.com/2025/02/25/how-trumps-tariffs-on-mexico-and-canada-will-sweep-across-us-states.html)
00:09:43 Treasuries vs Equities
00:22:12 The Largest Hack In History https://x.com/Bybit_Official/status/1892965292931702929) https://x.com/smyyguy/status/1893007399687958586/photo/1) https://x.com/benbybit/status/1892969284587966869) https://x.com/benbybit/status/1893102137711960486) https://www.chainalysis.com/blog/bybit-exchange-hack-february-2025-crypto-security-dprk/) https://x.com/StefanDGeorge/status/1894781521803858353) https://x.com/hasufl/status/1894772256179405158) https://x.com/arkham/status/1893033424224411885?s=46&t=v4MeJk18PFydz-g2BpdAVg) https://x.com/Jesseeckel/status/1893047605133037905) https://x.com/mudit__gupta/status/1893290720603050121) https://x.com/Bybit_Official/status/1893687749229563958) https://x.com/benbybit/status/1893865556840775758) https://x.com/lookonchain/status/1893840256342040727) https://x.com/TimBeiko/status/1893412457567383559) https://x.com/ethena_labs/status/1892971552565805309)
00:34:12 Ethereum Hard Fork Backlash
00:43:03 SEC Drops Lawsuits https://x.com/coinbase/status/1892923603814936896) https://x.com/dfinzer/status/1893086281300582772) https://x.com/Uniswap/status/1894452298698358989) https://x.com/econoar/status/1894501626209271973)
00:48:32 Hester Peirce Update
00:54:46 Bullish Or Bearish?
01:04:48 A16Z’s Newest Hire https://x.com/patrickmchenry/status/1894735546213171378)
01:06:30 Stablecoin Issues
01:12:31 US Treasury Updates https://x.com/Bitcoin_Laws/status/1893399549454229690) https://bitcoinlaws.io/)
01:15:58 Find Alex on Twitter https://x.com/intangiblecoins)
------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures