ROLLUP: $19B Flash Crash | Binance Fee Leak | China L2 on ETH | $14B BTC Reserve

Bullish:

• $BLK - BlackRock CEO Larry Fink expresses strong conviction in tokenization of all assets, with BlackRock already having a $100B Bitcoin ETF and plans to tokenize more products across real estate, equity, and bonds.

  • “I do believe we're just at the beginning of the tokenization of all assets from real estate to equity to bonds across the board.”

    Larry Fink·9:14
• $STABLES - Massive growth potential for stablecoins as they unbundle traditional banks, with US Treasury estimating $6.6 trillion could flow from bank demand deposits into stablecoins.

  • “6.6 trillion in M1 will leak out of demand deposits in banks... and going to stablecoins, because stablecoins are in the process, basically unbundling the banks.”

    Ryan·15:01
• $DEFI - DeFi protocols, particularly Aave, demonstrated resilience during market stress test, handling $180 million liquidation flawlessly with $75 billion in capital, outperforming centralized exchanges.

  • “DeFi was pretty much fine. In particular, Aave. So big stress test of Aave... Handled it flawlessly. Love it. 75,000,000,000 capital and just ate that $180,000,000 liquidation.”

    Ryan·41:00

Bearish:

• $BANKS - Traditional banks face disruption from stablecoins and crypto infrastructure, with tectonic shifts expected to unbundle banks over the next three years.

  • “We are watching the banks get unbundled in the next three years. Things are going to have tectonic shifts. We are watching it unfold in real time.”

    David·17:08