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Unchained

Unchained

Crypto assets and blockchain technology are about to transform every trust-based interaction of our lives, from financial services to identity to the Internet of Things. In this podcast, host Laura Shin, an independent journalist covering all things crypto, talks with industry pioneers about how crypto assets and blockchains will change the way we earn, spend and invest our money. Tune in to find out how Web 3.0, the decentralized web, will revolutionize our world. Disclosure: I'm a nocoiner.

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How Gitcoin 2.0 Could Someday Help Reward People for Doing Good - Ep. 624

Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. In this episode, Laura interviews Meg Lister, GM of Grants Labs at Gitcoin, and Kevin Owocki, co-founder of Gitcoin.  They discuss the evolution of Gitcoin from a centralized platform to a decentralized suite of protocols, Gitcoin 2.0, which allows any Ethereum Virtual Machine (EVM) based ecosystem to fund its public goods. They also talk about the various funding mechanisms available, including quadratic funding, retroactive public goods funding, and conviction voting.  Learn more: What Is Retroactive Public Goods Funding? The team is also exploring more futuristic concepts such as private voting systems, angel investing 2.0, and impact attestations. The ultimate goal for Gitcoin is to create a capital allocation infrastructure that funds what matters to communities, whether they are towns, states, countries, or online interest groups. Show highlights: Kevin's background and how he came to found Gitcoin and why Meg joined the company The differences between Gitcoin 1.0 and 2.0 What quadratic funding is and why it is important in the blockchain ecosystem The problem of sybil attacks and how Gitcoin Passport aims to solve it Why Gitcoin has changed its approach to put more focus on scaling Ethereum rather than other types of grants How Gitcoin is trying to solve capital allocation efficiency with Allo (Capital Allocation) Protocol What streaming quadratic funding is and how it differs from traditional quadratic funding How retroactive public goods funding (RPGF) works What conviction voting is and how it addresses some of the current problems in DAOs Which projects are using Gitcoin Passport and what for Why Gitcoin is so focused on the Ethereum ecosystem and whether they will launch in other chains What the purposes of the GTC token are and how it could become a flywheel for Gitcoin How Gitcoin can become sustainable long-term, since it's free to use at the moment The features that are coming down the line for Gitcoin, including privacy and onchain "angel investing"  What the future could look like if Gitcoin succeeds in its mission, according to Kevin Thank you to our sponsors! Polkadot Guests: Kevin Owocki, Co-founder of Gitcoin Meg Lister, GM of Grants Labs at Gitcoin Links Gitcoin Gitcoin 2.0 Whitepaper, co-authored by Kevin Owocki and Meg Lister Public Goods Funding: The New Meta | Kevin Owocki - Gitcoin, presentation at ETH Denver 2024 Gitcoin Entering the End Game  Gitcoin?s Citizen Grants program Impact report CoinDesk: Why Crypto?s Most Altruistic Project Is Going (Kinda) Corporate Blockworks: Gitcoin is restructuring to focus on grants for the Ethereum ecosystem  Allo Protocol Announcement thread Web3 Ecosystem Funding State of Web3 Grants Report Web3 Innovations in Public Goods Funding How To Fund Innovation: A Guide to Web3 Grants, Meg Lister for BeIn Crypto Quadratic funding ORIGINAL WHITE PAPER, co-authored by Vitalik Buterin  Retro PGF Unchained: What Is Retroactive Public Goods Funding? Passport Introducing Passport - Digital Identity as a Public Good  Learn more about your ad choices. Visit megaphone.fm/adchoices
2024-03-26
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How BlackRock?s New Fund on Ethereum Got a Very Crypto Welcome - Ep. 623

Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. On Wednesday, BlackRock, the world's leading asset management firm, announced the launch of a tokenized investment fund, the BlackRock USD Institutional Digital Liquidity (BUIDL) Fund, developed in collaboration with Securitize.  Carlos Domingo, founder and CEO of Securitize, discusses the launch of the fund, which is native to the public Ethereum blockchain and aims to bring an institutional-grade cash management product to crypto institutions, offering faster token issuance, redemption, and transferability.  Learn more: What Is Real-World Asset (RWA) Tokenization? A Beginner's Guide He also talks about how Blackrock has embraced crypto, how the launch of the fund was ?front run? by crypto Twitter, and how Blackrock will deal with issues such as the fund being dusted with ETH tainted by sanctioned Tornado Cash ETH.  Show highlights: What the BUIDL fund is, its essence and objectives How the fund rewards its users, with a system similar to crypto airdrops Whether they were worried about regulatory aspects of bringing this product onchain Securitize's role in the partnership with BlackRock How much money flowed into the fund on the first day and who the target investor is Why BlackRock decided to build this product on Ethereum  What BlackRock's attitude towards crypto is, according to Carlos How the launch of the fund was frontrun by crypto insiders  How a wallet associated with the fund received unintended funds from North Korean tied wallets and whether Ethereum should implement a mechanism for addresses to approve funds that are sent to it Whether the contract is secure and what steps Securitize is taking to increase the safety of the users The roadmap for the partnership between BlackRock and Securitize Thank you to our sponsors! iTrustCapital Polkadot Uniswap Guest Carlos Domingo, Founder and CEO of Securitize Previous appearance on Unchained: Could Securitize Democratize Access to Different Asset Classes? Links Previous coverage on Unchained of real world assets: The Catalysts for This Crypto Bull Market: AI, DeFi, Real World Assets? The Chopping Block: Will Tokenizing RWAs Finally Click This Time? MakerDAO Has Brought in Real World Assets. Is It Worth the Risk? BlackRock USD Institutional Digital Liquidity (BUIDL) Fund The Block: BlackRock to launch tokenized investment fund with Securitize Unchained: BlackRock's Institutional Fund Wallet Receives Unsolicited ETH From Tornado Cash Within Hours of Launch BlackRock Receives Memecoins and NFTs After Putting $100 Million USDC Onchain Learn more about your ad choices. Visit megaphone.fm/adchoices
2024-03-22
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The Chopping Block: Memecoin Presales, MakerDAO?s Endgame, and BlackRock's Blockchain Bet! - Ep. 622

Welcome to The Chopping Block ? where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest news. In this week's episode, the squad dives into the riveting dynamics of meme coins and their undeniable sway over market sentiments, alongside a detailed exploration of BlackRock's groundbreaking leap into blockchain with its on-chain fund initiative. Is Solana redefining its role as the new haven for meme coin ventures, signaling a shift in blockchain platform dominance? And with Ethereum's recent 4844 and Dencun upgrades, can it hold its ground as the DeFi ecosystem's backbone amidst escalating competition? We delve into MakerDAO's ambitious 'Endgame' strategy, contemplating its potential to reshape governance within the DeFi sector. The conversation doesn't stop there; we untangle the complex web of crypto conspiracies and debate the evolving definition of 'fair launch' in the decentralized space. This episode is packed with analysis and insights as we navigate the speculative excitement of meme coins, the strategic moves of blockchain giants, and the transformative policies shaping the future of decentralized finance. Join us for a thought-provoking journey as we dissect these developments, with Robert Leshner shedding light on the alpha in Reg D filings, to unravel the narratives that could redefine the crypto ecosystem's future. Tune in for a compelling session that promises to peel back the layers of innovation, speculation, and strategic maneuvering in the ever-evolving crypto landscape. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show Highlights ? Unraveling Crypto Conspiracies: Delving into the speculative theories surrounding the surge of memecoins and their potential orchestration by exchanges or other entities. ? Redefining 'Fair Launch' in DeFi: A critique of the shifting meaning of 'fair launch' within the memecoin sector, highlighting the departure from traditional norms. ? Solana as the New Memecoin Haven: Examining Solana's burgeoning role as the preferred platform for memecoin activity and what it signifies for blockchain innovation. ? Ethereum's Technological Upgrades: Analyzing the implications of Ethereum's 4844 and Dencun upgrade for transaction fees, scalability, and the developer ecosystem. ? Debating the Future of memecoins: Insights into the dynamic world of memecoins, from the rise of pre-sales on Solana to the broader implications for the crypto market. ? The Evolution of MakerDAO: Discussion on MakerDAO's transformative 'Endgame' strategy, introducing new governance mechanisms and tokens to revitalize its ecosystem. ? BlackRock's Entry into Crypto: A glimpse into BlackRock's strategic move to launch an on-chain fund, marking a significant step by a major institutional player into the crypto space. Hosts ??Haseeb Qureshi, Managing Partner at Dragonfly  ??Tom Schmidt, General Partner at Dragonfly  ??Tarun Chitra, Managing Partner at Robot Ventures ??Robert Leshner, Founder of Compound Disclosures Links Pump.fun - https://www.pump.fun  3AC?s Kyle Davies on Why He?s Crypto?s Lloyd Blankfein and Why He?s Not Sorry - https://unchainedcrypto.com/3acs-kyle-davies-on-why-hes-cryptos-lloyd-blankfein-and-why-hes-not-sorry/  MakerDAO Endgame: Launch Season - https://forum.makerdao.com/t/makerdao-endgame-launch-season/23857/1  What Is a Fair Launch in Crypto? - https://www.coingecko.com/learn/what-is-a-fair-launch-in-crypto  Learn more about your ad choices. Visit megaphone.fm/adchoices
2024-03-21
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3AC's Kyle Davies on Why He's Crypto's Lloyd Blankfein and Why He's Not Sorry - Ep. 621

Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Few crypto figures have been as vilified as Kyle Davies, the co-founder, along with Su Zhu, of crypto hedge fund Three Arrows Capital, which imploded in mid-2022, losing $3 billion and bringing many pillars of the crypto industry down with it. Davies and Zhu have been accused of, among other things, lying about 3AC?s assets as the firm was imploding, trying to borrow money when the firm was insolvent, and seeking funding from the Mafia, all of which Davies denies.  But he remains unapologetic about 3AC?s demise, saying most, if not all, companies eventually go bankrupt, and that 3AC had a ?pretty spectacular? ten-year run. He joined Unchained to explain why he and Su Zhu were ordered to prison in Singapore for non-compliance with the liquidation proceedings, Zhu?s ?six weeks meditating? (in prison), where he?s living now, why he and Zhu went to Bali after the bankruptcy, his $25,000-a-month fee for consulting for crypto bankruptcy exchange OPNX, his and Zhu?s current work advising crypto derivatives platform OX.FUN, and what he wishes he would have done differently in terms of 3AC?s wind down.  Show highlights: Whether Kyle is cooperating with 3AC liquidator Teneo and his opinions of that firm His and 3AC co-founder Su Zhu?s prison sentences in Singapore Why Kyle says he didn?t know about the scheduled court date Why Dubai levied fines against him, according to Kyle Where he is living now Whether or not he made misrepresentations about 3AC?s assets to lenders before its implosion, traded when the firm was insolvent, and borrowed money from the mafia Why Kyle went to Bali after the bankruptcy  His defense of his $25,000 a month fee for consulting for OPNX Why Kyle thinks his reputation post-3AC was still ?huge? because all companies eventually go bankrupt Gamified derivatives platform OX.FUN, where he is an advisor His dreams of opening a cloud kitchen chicken restaurant Why he filed a lawsuit against Sixth Man Ventures? Mike Dudas What he could have done differently at the time of 3AC?s collapse Why Kyle is not sorry 3AC went bankrupt  Thank you to our sponsors! Polkadot Guest Kyle Davies, OX.FUN advisor and co-founder of Three Arrows Capital  Links Su Zhu?s Arrest Unchained: Three Arrows Capital Cofounder Su Zhu Arrested in Singapore 3AC Founders? Assets Frozen CoinDesk: Court Freezes $1 Billion of Assets of Three Arrows Capital Founders 3AC Ventures CoinDesk: Bankrupt Hedge Fund 3AC's Return as a VC Stirring Up Crypto Community Davies and Su?s Post Bankruptcy Lives New York Times: Their Crypto Company Collapsed. They Went to Bali New York Magazine: ?They Are Very Comfortable Lying?: How fallen crypto kingpins Su Zhu and Kyle Davies are dodging prison ? and rebranding  OPNX Wall Street Journal: Founders of Bankrupt Three Arrows Capital Plan Trading Platform for Distressed Crypto Debt  Cointelegraph: CoinFLEX creditors dissatisfied with restructuring to OPNX: Report Unchained: 3AC Founders? New Crypto Exchange OPNX to Shut Down Cointelegraph: OPNX to shut down with mysterious new exchange as replacement Decrypt: CoinFLEX Creditors React to OPNX Closure: 'They Have Left a Trail of Destruction' OX.FUN March 11 Twitter spaces on OX.FUN with Davies and Zhu  Learn more about your ad choices. Visit megaphone.fm/adchoices
2024-03-19
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How Ethereum?s Dencun Upgrade Could Lead to the Rise of Millions of Layer 3s - Ep. 620

Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Ethereum?s long-awaited Dencun upgrade finally went live this week, and many L2s immediately saw their transaction fees fall dramatically, as was the intention. Among them was the Coinbase-incubated Base, which was created by Jesse Pollak. Pollak joined Unchained to discuss the impact Dencun was having on Base; how he thinks Layer 1s and Layer 2s will start to differ from one another and eventually spawn a multitude of specialized Layer 3s; his response to criticisms of the increasing use of Layer 2s, what he?s focusing on now, and why he supports using the word ?onchain? over ?crypto? or ?web3.?  Show highlights: The problem that Dencun is trying to solve The benefits of blobs and blobspace How Dencun has already reduced Base?s fees, but also increased its transactions How Jesse thinks Layer 1s and Layer 2s will start to become differentiated from each other The rise of Layer 3s How Jesse addresses criticisms of fragmentation and centralization arising from the increasing use of Layer 2s Why Jesse is particularly excited about two features of the Dencun upgrade?transient storage and increased composability between L1s and L2s What Jesse and the Base team are focusing on now Why Jesse thinks that ?onchain? is a better word to describe the industry than ?crypto? or ?blockchain? or ?web3?  Thank you to our sponsors! iTrustCapital Polkadot Uniswap Guest Jesse Pollak, creator of Base at Coinbase Previous appearances: The Chopping Block: All About That Base With Jesse Pollak  Links Recent coverage on Unchained of the Dencun Upgrade and Base:  Dencun Day One: Ethereum Layer 2 Networks See Drastic Drop in Transaction Fees Ethereum Completes Milestone Dencun Upgrade, Which Should Substantially Reduce Fees How Much Will the Dencun Upgrade Really Reduce Ethereum Layer 2 Fees By? Why Base?s Creator Thinks Social Apps Will Be a ?Huge Part? of the Layer 2 Blockchain?s Success CoinDesk: Debating Dencun: Will Ethereum's Big Update Help or Harm the Network? Jesse?s tweets on Dencun October 2022  January 2024 March 13, 2024  Blobs / Proto-danksharding EIP-4844 proposal Blobs unleashed: Ethereum?s Dencun upgrade activates on mainnet  Base says it will support EIP-4844 from 'day 1' following Dencun upgrade  Ethereum stans are putting the Bee Movie on blobs for as little as $5 Superchain Decentralizing Base with the OP Stack and Optimism  Base?s Commitment to Decentralization with the Superchain  Learn more about your ad choices. Visit megaphone.fm/adchoices
2024-03-15
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The Chopping Block: The Ups-and Downs of Crypto since 2020 and where we are now! - Ep. 619

Welcome to The Chopping Block ? where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest news. In this week's episode the squad asks: Is MakerDAO setting a new precedent for DeFi protocols with its emergency rate hike? How significant is the role of meme coins in the crypto market's volatility, and what does Solana's prominence tell us about the future of blockchain platforms? Can Ethereum maintain its position as the backbone of DeFi amidst the growing competition from layer 1 and layer 2 solutions? This episode delves deep into the whirlwind discussions surrounding MakerDAO's sudden monetary policy adjustments, scrutinizing the balance between stability and adaptability in DeFi's fast-paced world. We explore the fascinating, yet often speculative, universe of meme coins, highlighting their impact on network activity and public perception of cryptocurrency's value. The conversation also navigates the evolving landscape of Ethereum as it faces challenges and opportunities in scalability and functionality. Join us as we tackle these thought-provoking questions, armed with Robert Leshner's expertise, to peel back the layers of complexity surrounding DeFi strategies, the meme coin craze, and Ethereum's strategic positioning. Tune in for a captivating session aimed at decoding these trends and offering insights into their potential to redefine the contours of the crypto ecosystem. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show Highlights ? MakerDAO's Monetary Strategy Shift: Exploring the implications of MakerDAO's emergency rate hike and its potential to redefine monetary policy in DeFi. ? The Meme Coin Madness: Diving into the dynamics of meme coins in the crypto ecosystem, focusing on their impact on market volatility and investor behavior. ? Ethereum's Position in the DeFi Ecosystem: Analyzing Ethereum's challenges and opportunities as it continues to be the backbone of decentralized finance amid rising competition. ? The Crypto Evolution and Reflection: Reflecting on the progress of the crypto industry by comparing current discussions to traditional banking models, highlighting the maturation of the sector. ? Solana's Influence in the Crypto Market: Investigating Solana's growing prominence for meme coin activity and what it signals about blockchain platform developments. ? DeFi Protocols as Financial Antidotes: Discussing the role of DeFi protocols in offering alternatives to traditional financial systems and their potential to disrupt. ? Intellectual Property Rights in a Digital Age: Speculating on the future of IP rights in the era of digital creation and AI, questioning the sustainability of current legal frameworks. ? The Crypto Market's Bullish Trends: Analyzing the current bullish trends in the cryptocurrency market, including Bitcoin and Ethereum's price movements and the factors fueling optimism. ? Governance and DAOs in Crypto's Future: Delving into the significance of decentralized autonomous organizations and governance models for the future of cryptocurrency and blockchain technology. Hosts ??Haseeb Qureshi, Managing partner at Dragonfly  ??Tom Schmidt, General Partner at Dragonfly  ??Tarun Chitra, Managing Partner at Robot Ventures ??Robert Leshner, Founder of Compound Disclosures Links Bitcoin Is Hitting All-Time Highs Around the World (CoinDesk) https://www.coindesk.com/markets/2024/02/29/bitcoin-is-hitting-all-time-highs-around-the-world/  Learn more about your ad choices. Visit megaphone.fm/adchoices
2024-03-14
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Why EigenLayer May Be the Most Innovative New Ecosystem Since Ethereum - Ep. 618

Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Sreeram Kannan, founder of EigenLayer, and Olaf Carlson-Wee, founder and CIO of Polychain Capital, an investor in EigenLayer, say that the developer ecosystem around EigenLayer is sprouting up very fast, which reminds Carlson-Wee of the developer excitement in Ethereum?s early days. They discuss the potential of EigenLayer, which uses a restaking mechanism to allow ETH stakers to reallocate their staked ETH and Liquid Staking Tokens (LSTs) to bolster security for other protocols. They cover how it could turbocharge Ethereum's rollup scaling roadmap and enable Ethereum to become a stack of decentralized software as a service providers. Additionally, they discuss the potential risks associated with restaking as well as how EigenLayer could work with AI. Read more: What Is EigenLayer? A Guide to the Decentralized ETH Restaking Protocol Show highlights: Sreeram's explanation of what EigenLayer is and what it allows on Ethereum why Polychain invested in EigenLayer's seed round why Sreeram believes that there are not just going to be three modules in blockchains, but thousands the types of applications that can be built with actively validated services, according to Sreeram why they both believe that EigenLayer will improve smart contracts whether EigenLayer will help solve the liquidity fragmentation issue in Layer 2s what Ethereum inclusion guarantees are and why they are important the potential risks of EigenLayer and why Olaf doesn?t agree that EigenLayer results in rehypothecation how attribution claims work in EigenLayer, allowing for "elastic scaling of security" EigenLayer?s points program and the likelihood of a token why Sreeram believes that an EigenLayer governance token wouldn't have the same issues as Lido's LDO whether EigenLayer should be a core part of the Ethereum protocol itself how AI and EigenLayer intersect and how to have permissionless innovation in the AI space Thank you to our sponsors! Polkadot Guest:     Olaf Carlson-Wee, founder and CIO of Polychain Capital Previous appearances on Unchained: OG Olaf Carlson-Wee on Why His Crypto Thesis Is Stronger Than Ever Olaf Carlson-Wee: 'If There Is a Money-Losing Exploit, the Money Is Gone'  Why The First Employee Of Coinbase Launched A Hedge Fund To the Moon and Back With Polychain's Olaf Carlson-Wee Special Episode with CNBC's Crypto Trader: Olaf Carlson-Wee on Why This Crypto Winter Is Different From Previous Ones All Things Cryptoeconomics, Pt. 1, With Olaf Carlson-Wee and Ryan Zurrer of Polychain Capital Sreeram Kannan, founder of EigenLayer Previous appearance on Unchained: Do You Need to Think Twice Before Restaking Your Assets? Links EigenLayer Unchained:  What Is Ethereum Restaking? A Beginner's Guide ETHDenver?s 2024 Hackathon: Onchain Security, AI, and Gaming Fun Dominate the Winning Projects A16z, Binance Labs Make Investments in EigenLayer Ecosystem EigenDA Overview Sreeram?s post on why ?building on EigenLayer, therefore, doesn't negate the utility of an AVS token? Points DL News: Kelp DAO opens trading of the $340m EigenLayer airdrop market with KEP CoinDesk: Omni Network Signs $600M Restaking Deal With Ether.Fi to Enhance Security Learn more about your ad choices. Visit megaphone.fm/adchoices
2024-03-12
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The Chopping Block: Meme Coin Frenzy, Decentralized AI, & Uniswap's Fee Strategy - Ep. 617

Welcome to The Chopping Block ? where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner dive into the hot topics stirring the cryptocurrency world. Could Uniswap's fee switch revolutionize DeFi's economic model? What's the real potential of decentralized AI in blockchain, and how close are we to seeing its practical applications? And in the whirlwind of the crypto market, what makes meme coins like Jeo Boden not just viral, but influential? This episode offers a detailed analysis of Uniswap's strategic move to potentially activate fee switches, exploring its implications for liquidity providers and the broader DeFi landscape. We also navigate the promising yet challenging terrain of Crypto AI, dissecting decentralized inference and the feasibility of verifiable training. The phenomenon of meme coins, with a spotlight on Jeo Boden, is dissected for its impact on community engagement and market dynamics. Join us as we probe these intriguing questions, equipped with Robert Leshner's insights, to unravel the complexities of DeFi innovations, Crypto AI's frontier, and the unique ecosystem of meme coins. Tune in for an enlightening session that aims to demystify these trends and provide a clearer understanding of their role in shaping the future of cryptocurrency. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show Highlights ? Uniswap's Fee Switch Debate: Unpacking the implications of Uniswap's potential fee switch activation and its impact on DeFi's revenue models. ? The Intricacies of Crypto AI: Diving deep into the world of Crypto AI, focusing on decentralized inference and the hurdles of verifiable training. ? Meme Coin Phenomenon: Analyzing the cultural and economic forces behind meme coins like Jeo Boden and their sway in the crypto community. ? Regulatory Winds in Crypto: Discussing the changing regulatory landscape and what Uniswap's move might signal about the future of DeFi regulation. ? Market Predictions and Speculations: Exploring expert predictions on Bitcoin and Ethereum's price movements and the factors driving market optimism. ? Technological Developments and Security: Delving into the significance of memory-safe programming and the White House's surprising tech endorsement. ? Attested Data in the Age of Synthetic Media: Examining the role of cryptographically signed data in ensuring content authenticity in the blockchain era. ? Decentralized Platforms' Disruption Potential: Probing the capability of decentralized platforms to reshape traditional social media models. ? The Economic Model of DeFi: Discussing the potential transformation in DeFi's economic landscape post-Uniswap's fee switch implementation. ? Crypto Culture and Community Dynamics: Investigating the unique cultural aspects of the crypto community, especially around meme coins and their market influence. Hosts ??Haseeb Qureshi, Managing partner at Dragonfly  ??Tom Schmidt, General Partner at Dragonfly  ??Tarun Chitra, Managing Partner at Robot Ventures ??Robert Leshner, Founder of Compound Disclosures Links Bitcoin Is Hitting All-Time Highs Around the World (CoinDesk) https://www.coindesk.com/markets/2024/02/29/bitcoin-is-hitting-all-time-highs-around-the-world/ Learn more about your ad choices. Visit megaphone.fm/adchoices
2024-03-09
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How, in 7 Weeks, Bitcoin ETFs Reached Inflows That Took Gold ETFs 3 Years - Ep. 616

Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. In this episode, Eric Balchunas, senior ETF Analyst at Bloomberg Intelligence, discussed the performance of Bitcoin ETFs since their launch two months ago.  Balchunas noted that the ETFs' performance exceeded his expectations, with a faster and more intense "second wind" than anticipated. He attributed this to a combination of asset managers buying in, retail interest, and the "ETF effect" where the knowledge of incoming flows encourages non-ETF investors to buy.  Balchunas also predicted that BlackRock's Bitcoin ETF would likely be the most successful of the nine new spot Bitcoin ETFs, while also doubting that any of the smaller issuers would bow out.  He also discussed the potential for spot Ether ETFs, but was less optimistic about their success compared to Bitcoin ETFs. Learn more: Bitcoin ETFs Explained: What Are They & How Do They Work? Show highlights: Why the Bitcoin ETF performance in the past couple of weeks exceeded Eric's expectations Whether Eric had ever seen the kind of hype around Bitcoin ETFs occur with other ETFs How there has been a lot of retail interest in these past few weeks Eric's insights into how bitcoin reached all-time highs again this week Whether a good portion of the ETF volumes is sustainable and what's driving those large volumes Whether it's safe to say that BlackRock is the winner among issuers Whether the smaller issuers in terms of volume and AUM will close their ETFs When options on Bitcoin ETFs will be approved Whether in-kind redemptions will be allowed in the near future and the role of politics in that Whether Grayscale will have to reduce its fees considering the huge outflows from GBTC Why Eric believes that spot ether ETFs won't have as much demand as the bitcoin ETFs did Reasons the SEC could use to reject spot ether ETFs Whether issuers will rebalance their portfolios at the end of quarters What Eric expects to see in terms of inflows by year?s end  Thank you to our sponsors! iTrustCapital Polkadot Uniswap Guest Eric Balchunas, Senior ETF analyst at Bloomberg Intelligence Previous appearances on Unchained: Why Spot Bitcoin ETFs Are Likely to Finally Start Trading on Thursday Will a Spot Bitcoin ETF Finally Get Approved? Links Recent coverage on Unchained of Bitcoin?s surge:  How the Bitcoins in Your ETF Get Sourced: The Real Story Should You Sell Bitcoin Now That It?s Nearing Its All-Time High? Miners Appear to Sell $69 Million Worth of Decade-Old Bitcoin Bitcoin Hits New All-Time High Above $69,000, Presaging More Potential Gains Previous coverage on the Unchained podcast of spot Bitcoin ETFs: Bitcoin?s Price Is Way Up. And $48 Trillion in Wealth Just Got Access Why Some Brokerage Firms Are Blocking Access to Spot Bitcoin ETFs Why the SEC May Want Cash Creation of Spot Bitcoin ETFs Why It Looks Like BlackRock Could Win America?s First Spot Bitcoin ETF The 4 Factors That Will Determine Which Spot Bitcoin ETFs Win Market Share How Much Money Will Flow Into Bitcoin ETFs? Here?s One Projection Eric?s tweet on $IBIT smashing $788m  Ethereum spot ETF: BitMEX Blog: Ethereum ETFs & Staking Eric?s tweet on ether ETFs  Unchained:  Why Spot Ether ETFs Likely Won?t Steal Bitcoin?s Thunder ? Even if Staking Is Included Spot Ether ETFs Could Introduce New Concentration Risk in Ethereum: S&P Global Learn more about your ad choices. Visit megaphone.fm/adchoices
2024-03-08
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The Catalysts for This Crypto Bull Market: AI, DeFi, Real World Assets? - Ep. 615

Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. In this episode of Unchained, Alex Pack, managing partner at Hack VC discusses the firm's recent $150 million fundraise, the challenges of raising capital in a bear market, and the firm's focus on early-stage Web3 infrastructure. He also shares his thoughts on the intersection of crypto and AI, the future of DeFi, and the importance of security in the crypto space. Pack believes that the current infrastructure of crypto is still in its early stages and needs significant improvement before it can reach mainstream adoption. He also sees potential in the development of more secure smart contracts and the integration of AI into decentralized applications. Show highlights: How Hack VC was able to raise $150 million in a bear market, especially after the blowups of FTX, 3AC, and Terra Alex's interaction with SBF, whom he calls a "sociopath," and why he didn't invest in FTX Hack VC's philosophy to "back hackers" in crypto The goals behind Zuzalu, the new community that resembles Balaji Srinivasan's idea of a network state What the main focus of Hack VC's investments are, including scalability, AI, and DeFi Why Alex believes that "we are still so early" How Alex believes crypto and artificial intelligence will intersect  The role of AI agents and how to use them in decentralized applications Why he thinks that EigenLayer is a great solution for middleware applications Alex's opinion on the modular vs. monolithic approach for scaling blockchains How DeFi survived the last bear market, contrasted with the collapses of CeFi companies like Celsius, BlockFi and FTX Whether algorithmic stablecoins can ever work and what Alex thinks of Ethena's USDe How to improve security in crypto, according to Alex Why the outcome of the Bitcoin ETFs exceeded Alex's expectations What he believes the catalysts are for the next bull market Thank you to our sponsors! Polkadot Guest: Alex Pack, Managing partner at Hack VC Previous appearances on Unchained: Dragonfly Capital on Why Ethereum Is So Far in the Lead ?The Last Big Whale?: Why the Crypto Contagion of 2022 Eventually Hit Genesis Links New fund Bloomberg: Hack VC Raises $150 Million for Bets on Battered Crypto Industry  Hack VC Closes $150M Venture Fund I, Bringing AUM to $425M Stablecoins: Unchained: What Is Ethena?s USDe Synethic Dollar? A Beginner?s Guide What Is Terra and Why Did It Fail? Why It's so Hard to Keep Stablecoins Stable  What Is Depegging in Crypto and Why Does It Occur? What Is Real-World Asset (RWA) Tokenization? A Beginner's Guide EigenLayer ecosystem Unchained: What Is EigenLayer? A Guide to the Decentralized ETH Restaking Protocol The Block: AltLayer closes $14.4 million strategic round co-led by Polychain and Hack VC Modular vs. monolithic approach Unchained:  What Are Modular Blockchains? A Beginner's Guide Three Crypto Pioneers on Crypto?s Monolithic vs. Modular Debate Crypto x AI crossover io.net and Ritual Collaborate to Boost Global AI Compute Landscape  Ritual x EigenLayer: Restaking for AI Unchained: 5 Use Cases of AI in Blockchain Zuzalu Decrypt: I Spent a Month Inside Vitalik Buterin?s Social Experiment?Here?s What It Was Really Like Learn more about your ad choices. Visit megaphone.fm/adchoices
2024-03-05
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Bitcoin?s Price Is Way Up. And $48 Trillion in Wealth Just Got Access - Ep. 614

Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. After a week in which Bitcoin nearly hit its all-time high, Alex Thorn, head of firmwide research at Galaxy, joins Unchained to discuss the pivotal role of ETF inflows in Bitcoin's recent price surge, the nuanced behaviors of long-term versus short-term holders, and the potential impacts of upcoming halvings and institutional involvement on the market's future trajectory.  Alex offers deep insights into the market value to realized value Z-score, explaining its relevance in assessing Bitcoin's valuation. He also delves into the implications of major financial institutions like Merrill and Wells Fargo embracing Bitcoin ETFs for their clients. Furthermore, Thorn speculates on the timing and conditions for an "altcoin season" and shares his price predictions for Bitcoin by the end of the year. Learn more: Bitcoin ETFs Explained: What Are They & How Do They Work? Show highlights: The main drivers for Bitcoin's recent surge, according to Alex Whether long-term Bitcoin holders are selling due to the recent surge in price What the MVRV (market value to realized value) Z-score is and how Alex uses this metric to assess the Bitcoin market Why Alex believes this period in Bitcoin's history is distinct What the implications of Merrill and Wells Fargo offering Bitcoin ETFs to their customers are, and how this expands Bitcoin's institutional appeal How the upcoming halving could affect the price, especially since Bitcoin is already closer to all-time highs than previous times ahead of the halving Why Alex thinks this might be the first time that highs in bitcoin and ether do not lead to an "altcoin season" Alex's price prediction for Bitcoin by the end of the year Thank you to our sponsors! Uniswap iTrustCapital Polkadot Guest Alex Thorn, Head of Firmwide Research at Galaxy Previous appearance on Unchained: How Much Money Will Flow Into Bitcoin ETFs? Here?s One Projection Links Recent coverage on Unchained of Bitcoin?s surge:  Should You Sell Bitcoin Now That It?s Nearing Its All-Time High? Bitcoin Watchers React to BTC Returning to the $60,000 Mark Coinbase App Crashes Amid Bitcoin?s Massive Rally Bitcoin Price Surges Past $61,000 Others: The Block: JPMorgan says bitcoin price could drop towards $42,000 after April halving Bloomberg: BofA?s Merrill, Wells Fargo Offer Bitcoin ETFs to Wealth Clients Previous coverage on Unchained of spot Bitcoin ETFs: Why Some Brokerage Firms Are Blocking Access to Spot Bitcoin ETFs Why Spot Bitcoin ETFs Are Likely to Finally Start Trading on Thursday  Why the SEC May Want Cash Creation of Spot Bitcoin ETFs Why It Looks Like BlackRock Could Win America?s First Spot Bitcoin ETF Will a Spot Bitcoin ETF Finally Get Approved? The 4 Factors That Will Determine Which Spot Bitcoin ETFs Win Market Share How Much Money Will Flow Into Bitcoin ETFs? Here?s One Projection Learn more about your ad choices. Visit megaphone.fm/adchoices
2024-03-01
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Famed White Hat Hacker Samczsun on How to Improve Crypto Security - Ep. 613

Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Well-known white hat hacker and head of security at Paradigm samczsun recently took the wraps off a new security organization called the Security Alliance (SEAL) that offers a 911 hotline for immediate response to security threats, runs war games to simulate potential security incidents, and provides a safe harbor agreement to protect white hat hackers from legal liabilities. He joined Unchained to discuss why he and his fellow white hat hackers decided to start the Security Alliance and how it operates, how the safe harbor agreement works, the measures he takes to maintain his anonymity and why, the top security measures people in crypto should take to protect themselves, and what attack areas in crypto Sam still considers ?scary.?    Show highlights: How samczsun got into white hat hacking The most memorable saves and rescues sam was able to perform  Whether there's a reason why sam is so good at noticing bugs in crypto The origin of his samczsun handle What the Security Alliance is and why it was formed How SEAL would approach a bug or a hack Whether black hat hackers are trying to exploit open groups Why the work in the group is volunteered, not paid, and whether that's sustainable How the SEAL War Games help in training on how to respond to an incident in Web3 What the Safe Harbor Agreement is and what it aims to accomplish for white hat hackers How sam protects his identity and whether his coworkers know what he looks like The top security measures people working in crypto should take How projects should approach the audit for their smart contracts given it's an expensive endeavor  What attack vectors still scare sam What is ?White Hat Hacking?? White hat hacking, often referred to as ethical hacking, is a cybersecurity practice where skilled computer experts use their knowledge for good, employing the same methods as malicious hackers (black hat hackers) but with a significant difference: they do so with permission and for a constructive purpose. These ethical hackers identify vulnerabilities in computer systems, networks, or applications before malicious attackers can exploit them. By detecting and resolving these security weaknesses, white hat hackers help organizations strengthen their defenses against cyber threats.  Thank you to our sponsors! Popcorn Network Polkadot Guest: Samczsun, CEO of Security Alliance (SEAL) and Head of Security at Paradigm Previous appearances on Unchained: The Chopping Block: Top White Hat Hacker Samczsun Discusses the State of Crypto Security Links Introducing the Security Alliance Bloomberg: Paradigm?s Famed ?White-Hat? Hacker Unites Peers Against Crypto Attacks,  White Hat Safe Harbor [Github] Chainalysis: Funds Stolen from Crypto Platforms Fall More Than 50% in 2023, but Hacking Remains a Significant Threat as Number of Incidents Rises sam?s tweet on security practices  Halborn: Explained: The Nomad Hack (August 2022) Learn more about your ad choices. Visit megaphone.fm/adchoices
2024-02-27
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Stacks? Muneeb Ali On Why Bitcoin Is Exciting Once Again - Ep. 612

Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Fifteen years after the birth of Bitcoin, the network is now entering an era of remarkable innovation and change, according to Stacks' co-creator Muneeb Ali. On this episode of Unchained recorded at the Bitcoin Builders conference, Muneeb explores the complexities and advancements within Bitcoin's Layer 1 and Layer 2. He shares his perspectives on what's fueling innovation in Bitcoin's Layer 1 and discusses the implications of Ordinal Inscriptions amid criticism of it by core developers.  He delves into the various scaling solutions within Bitcoin, highlighting how trust assumptions vary among them, and how BitVM could be a 'game changer'. He goes over the advantages of integrating smart contracts on Bitcoin, and why he considers BTC the only true form of monetary asset.  Show highlights: What's driving innovation in Bitcoin?s L1  How Muneeb feels about Ordinals Inscriptions in Bitcoin, considering the criticism from some core developers How, in the recent years, research and development in crypto happened outside of Bitcoin, and how that's changing now, according to Muneeb The different types of scaling solutions in Bitcoin and how the trust assumptions differ in each of them Why he feels like BitVM is a 'game changer' and what it enables What the Nakamoto upgrade is on Stacks The advantages of having smart contracts on Bitcoin, according to Muneeb Why he says that BTC is the only asset that is money The challenges to having privacy in Bitcoin Thank you to our sponsors! Popcorn Network iTrustCapital Polkadot Guest Muneeb Ali, co-creator of Stacks Previous appearances on Unchained:  Bitcoin Ordinal NFTs Are Hot and Getting Hotter. What's the Hype About? - NFT Crypto Blockstack On Getting Independence From Google, Facebook And Amazon Links Recent news: Unchained:  Stacks, a Bitcoin Layer 2 Protocol, Sees All-Time High in Total Value Locked A New Era for Bitcoin Is Here, Whether Bitcoin Maximalists Like It Or Not Bitcoin Passes the $1 Trillion Market Cap Mark; All Cryptos Combined Reach $2 Trillion Bitcoin L2s: Unchained:  Are Layer 2s on Bitcoin Having a Moment? How Botanix Aims to Enable Smart Contracts on Bitcoin An Ethereum-Like Experience Built on Bitcoin? Learn more: What Are Opcodes in Bitcoin? A Beginner's Guide What Are BRC-20 Tokens?  What Are ORC-20 Tokens?  How to Create a Bitcoin Ordinal Learn more about your ad choices. Visit megaphone.fm/adchoices
2024-02-23
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The Chopping Block: Starknet's Airdrop, Founder Challenges, and Ethena's Mainnet - Ep. 611

Welcome to The Chopping Block, where crypto experts Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner bring you inside perspectives on critical topics in the crypto world. This week the boys dive deep into Starknet's airdrop controversies, the psychological toll of internet backlash on founders, and the groundbreaking Ethena project inspired by Arthur Hayes. This episode questions the effectiveness of airdrop strategies in user engagement, the resilience founders must muster against online criticism, and Ethena's potential to revolutionize crypto finance with its tokenized cash and carry trade. We also tackle the security threats on platforms like GitHub, the balance between egalitarian distribution versus market dynamics, and the transparency required in token economics. What legal challenges arise from token vesting schedules, and how does Ethena innovate in crypto finance inspired by traditional models? Join us for an insightful exploration of these critical topics, aiming to enrich our understanding of cryptocurrency airdrops, founder resilience, and Ethena's ambitious financial mechanisms within the evolving cryptocurrency ecosystem. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show Highlights ? Starknet Airdrop Controversy: Exploring the backlash and debates over its distribution mechanics. ? The Psychology of Founders Facing Internet Critique: Discussing the impact of public scrutiny on creators. ? Innovation in Airdrop Strategies: Highlighting the need for creativity to engage and retain users. ? GitHub and Security Risks: Addressing the increase in phishing attacks and noise on developer platforms. ? Efficacy of Airdrops in User Engagement: Evaluating how airdrops influence community involvement and loyalty. ? Egalitarianism vs. Market Dynamics: Debating the balance between fair distribution and economic incentives. ? The Complexities of Vesting Periods: Unpacking the discussions around token unlock schedules. ? Legal Nuances of Crypto Vesting: Exploring the regulatory implications and challenges. ? Transparency in Token Economics: The importance of clear policies for investor confidence. ? The Inspiration Behind Ethena: Tracing the origins and motivations for its creation. ? Cash and Carry Trade Basics: Simplifying the concept and its significance in crypto finance. ? Analyzing Ethena?s Yield Mechanisms: Delving into the strategies and risks of yield generation. ? Risk Mitigation in Ethena?s Protocol: Investigating novel approaches to safeguarding assets. ? The Potential Ripple Effects of Ethena: Speculating on the impact of layered financial products. Hosts ??Haseeb Qureshi, Managing Partner at Dragonfly  ??Tom Schmidt, General Partner at Dragonfly  ??Tarun Chitra, Managing Partner at Robot Ventures ??Robert Leshner, Founder of Compound Disclosures Links ?Is the Short Team Lockup for STRK ?Misaligned?? No, Says Starkware CEO - Ep. 609?: https://youtu.be/0D0Qyw9TeoY  The Uniswap Airdrop - Lessons for the Industry by jhackworth: https://dune.com/blog/uni-airdrop-analysis  ?Dust on Crust? by Arthur Hayes: https://ehandbook.com/dust-on-crust-300d4b5cf3ec  Learn more about your ad choices. Visit megaphone.fm/adchoices
2024-02-22
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Why the Celestia Team Sees a Future With 10,000 Roll-Ups - Ep. 610

Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Celestia, a data availability layer for blockchains, was launched last October to much fanfare. The platform takes a modular approach to blockchains, allowing developers to post data onto it without the need for smart contracts or execution. This makes it extremely useful for scaling roll-ups and other layer two technologies.  Celestia co-founder Mustafa Al-Bassam and COO Nick White join Unchained to discuss what Celestia is and how it works, how data availability sampling allows for more scalability, how Celestia compares with other data availability layers, whether Celestia could become a data availability layer for Bitcoin, and comparisons between Celestia and Solana.  Show highlights: Mustafa?s background and how his project called Lazy Ledger ended up becoming Celestia Nick?s vision for modular blockchains Why Mustafa believes in the ?10,000 roll-up? endgame Why Mustafa thinks that gaming and NFT chains work better on a modular blockchain What Celestia is and how it resembles the publication of an article in a newspaper What data availability sampling (DAS) is and how it works to ensure that the data is available and accurate for validators How DAS allows for more scalability What types of applications can be built with this type of modular architecture Mustafa?s explanation of the concept of Blob stream and blob space How a roll-up can be an independent or sovereign layer, not just a layer 2 to a layer 1 How Celestia competes with other DA layers, like the future EigenDA The role of the TIA token in the Celestia ecosystem  How Mufasa hacked the CIA when he was 16 years old and how he transitioned into crypto Whether Celestia could become a DA layer for Bitcoin layer 2 roll-ups Whether Solana could end up becoming an Ethereum layer 2 using Celestia for data availability  The proposal to extend the functionality of Celestia without smart contracts in the base layer  Thank you to our sponsors! Popcorn Network Polkadot Guests: Nick White, COO at Celestia Labs Previous appearances on Unchained: Three Crypto Pioneers on Crypto?s Monolithic vs. Modular Debate Mustafa Al-Bassam, cofounder and CEO at Celestia Labs Links Modular vs. monolithic Alchemy: Modular vs. Monolithic Blockchains Visa: Monolithic vs. modular blockchain Chris Burniske?s tweet on modular vs monolithic ?The horrific inefficiencies of monolithic blockchains? by polynya Blockworks: A spicy salvo launched in the monolithic vs modular debate Unchained: What Is the Blockchain Trilemma? Celestia Celestia?s explanation of modular blockchains Data availability Data availability sampling An introduction to sovereign roll-ups Learn more about your ad choices. Visit megaphone.fm/adchoices
2024-02-20
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Is the Short Team Lockup for STRK ?Misaligned?? No, Says Starkware CEO - Ep. 609

Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Starknet made news this week for announcing what will be the largest initial airdrop by number of eligible addresses ever. But it faced heavy criticism online for many of the details of the airdrop, from the fact that Ethereum solo takers received almost 22% of the distribution to eligibility requirements that users held at least 0.005 ETH in their wallets as of Nov. 15, 2023 to the fact that the token generation event took place almost two years before the unlock date. Starkware CEO Eli Ben-Sasson joined Unchained to respond to the multiple critiques of the airdrop and discuss why he and the Starknet Foundation decided on the details that they did.   Show highlights: What the airdrop criteria was and why they decided to make it that way Why they allocated so much $STRK to Ethereum solo stakers Eli?s response to the criticism about how little Starknet network participants got in the airdrop Why the STRK Token Generation Event (TGE) was done in 2022, only to be airdropped two years later Why Eli believes that even if the unlock of tokens is in two months, it does not indicate misalignment of incentives Whether Eli will sell his tokens when they become unvested Thank you to our sponsors! Popcorn Network iTrustCapital Polkadot Guest Eli Ben-Sasson, CEO of Starkware Links Recent coverage of Unchained on airdrops: Jupiter Founder Meow to Critics of JUP Airdrop: ?Give Me a Break? Unchained:  Starknet?s Airdrop Plan Sparks Some Praise but Also Outrage Starknet?s First Token Distribution Will Be Available to Nearly 1.3 Million Addresses The Defiant: Starknet Faces Backlash Over Airdrop and Team Unlocks Loomdart?s tweet on the TGE Learn more: Do You Have to Pay Taxes on a Crypto Airdrop? What Is a Crypto Airdrop? A Beginner's Guide  Learn more about your ad choices. Visit megaphone.fm/adchoices
2024-02-16
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The Chopping Block: Navigating the New Era of Crypto Social Media with Farcaster's Insights! - Ep. 608

Welcome to The Chopping Block ? where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and special guest Dan Romero, co-founder of Farcaster, engage in a riveting discussion on decentralized social media and the burgeoning meme coin trend within the cryptocurrency ecosystem. This episode offers an in-depth analysis of Farcaster's innovative mechanisms for user engagement and its significant role in shaping the future of social interactions in the crypto domain. We delve into the mechanics behind meme coins, examining their influence on community dynamics, market behavior, and the broader implications for digital asset valuation. Our conversation navigates through the intricacies of decentralized platforms like Farcaster, probing into their potential to disrupt conventional social media models and foster a new era of user-centric, blockchain-enabled online communities. Join us for a comprehensive exploration of these pivotal developments, enriched with Dan Romero's firsthand insights, as we dissect the evolving landscape of social media in the crypto age and the captivating allure of meme coins, all aimed at providing a deeper understanding of their impact on the global cryptocurrency market. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show Highlights ? Decentralized Social Media Evolution: Exploring the growth and challenges of platforms like Farcaster in the decentralized web landscape. ? User Empowerment in Crypto: Analyzing how crypto-native features on platforms empower users through economic incentives and community building. ? The Rise of Social Tokens: Delving into the emergence of social tokens and their role in fostering online communities and creator economies. ? Interactive Crypto Features: Investigating innovative features like Farcaster's frames and their impact on user engagement and content sharing. ? Sustainable Tokenomics: Discussing the sustainability of token models in social platforms and the potential for long-term value creation. ? Behavioral Economics in Crypto: Understanding the psychological factors driving the speculative nature of meme coins and their market dynamics. ? Decentralization vs. Centralization: Debating the balance between decentralized ethos and the need for centralized governance in crypto platforms. ? The Future of Online Identity: Discussing the evolution of online identities in the context of decentralized platforms and blockchain technology. ? Celebrity and Crypto Synergies: Speculating on the future of celebrity involvement in crypto through personalized tokens and endorsements. ? Cross-Platform Crypto Integration: Exploring the possibilities and challenges of integrating crypto-native features across various social and digital platforms. ? Ethical Considerations in Crypto: Delving into the ethical implications of rapid token creation, distribution strategies, and their impact on unsuspecting users. Hosts ??Haseeb Qureshi, Managing partner at Dragonfly  ??Tom Schmidt, General Partner at Dragonfly  ??Tarun Chitra, Managing Partner at Robot Ventures Guest ?? Dan Romero, Farcaster Co-Founder Disclosures Links Eugene Wei?s ?Status as a Service (StaaS)?: https://www.eugenewei.com/blog/2019/2/19/status-as-a-service  Vitalik Buterin?s forum post on DAICOs: https://ethresear.ch/t/explanation-of-daicos/465/1  Learn more about your ad choices. Visit megaphone.fm/adchoices
2024-02-15
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How Decentralized Social Network Farcaster Hopes to Eventually Get to One Billion Users - Ep. 607

Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. In the two weeks since Farcaster introduced its Frames feature that allows developers to easily add mini apps to users? posts, the decentralized social network has become the talk of Twitter, now X, and increased its user base by ten times, according to co-founder Dan Romero.  Romero joins Unchained to discuss why Frames has become so popular, the philosophy behind Farcaster and its client Warpcast, why the crypto component behind Farcaster is being kept to a minimum, how Apple?s new Vision Pro could lead to the creation of a 3D social network on Farcaster, how he and his fellow co-founder?s background at Coinbase helped shape their decisions about building Farcaster, and his vision for eventually getting Farcaster to a billion-plus users.  Show highlights: What Farcaster is and what problems it?s trying to solve How and why Farcaster uses blockchain technology in the background  How you can use ENS (Ethereum Name Services) for your handles on Farcaster How the recovery of accounts works on Farcaster and what the security implications are What Frames is and why it?s significant for developers and creators What?s controlled by the protocol vs. the client  What Dan imagines could be built with the new Apple Vision Pro Whether there?s potential for better economics and ways to monetize content in Farcaster Why Farcaster is on Optimism, an Ethereum Layer 2, and whether it could be moved to another network How they are working to build a more decentralized network What the future of Farcaster and Frames could look like How Dan?s background at Coinbase shaped the way in which he decided to build Farcaster What the strategy is for scaling the platform to the numbers more associated with Web2 social media Thank you to our sponsors! Popcorn Network Polkadot Guest: Dan Romero, Co-founder of Farcaster Coinbase?s Pragmatic Crypto Culture by Dan Romero Links Unchained:  Bounties to Build Frames on Farcaster Are Growing Rapidly Farcaster's User Base Skyrockets Nearly 500% After Frames Launch What Is SocialFi? A Beginner?s Guide The Chopping Block: Is Farcaster the Web3 Social Layer? Dan?s ideas for Farcaster Farcaster architecture Architecture Onchain password reset mechanism Why Farcaster Frames are important The layers of Farcaster Farcaster charges ?rent? Learn more about your ad choices. Visit megaphone.fm/adchoices
2024-02-13
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How Crypto?s Version of 'Survivor' Ended Up With the Most Heartwarming Ending

Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Crypto: The Game captivated a large swath of the crypto community this past week. The game, modeled after ?Survivor,? was the brainchild of Dylan Abruscato, Tyler Cagle and Bryan Lee. The intention of the game, which was played virtually but also unfolded in real life, was to ruthlessly vote people off to determine a single winner. Throughout, multiple psy-ops operations created chaos. Despite all that, the competition ended up fostering numerous friendships (including for Unchained reporter Sage Young, whose coverage is below) and resulted in a shocking, but heartwarming ending.  On Friday afternoon, after the winner was announced, we hosted a Spaces with Dylan, the winner, and some of the more notable players, which we?re releasing here. In the discussion, we cover the inspiration for the game, some of the behind-the-scenes surprises, who was causing chaos for various teams and how, and why the winner may be one of the winning-est contestants ever.  Guest: Dylan Abruscato, founder of Crypto: The Game Links Unchained:  Day 6 of ?Crypto: The Game? Brutally Exposes the Problem of Trust in a Digital World Day 8 of ?Crypto: The Game? Puts Me on a Hit List for the Second Time Day 9: Cutthroat Contestants Put an End to My Time in ?Crypto: The Game? Learn more about your ad choices. Visit megaphone.fm/adchoices
2024-02-10
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Why One Solana Builder Is Still Optimistic About the Network - Ep. 606

Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. On Tuesday, Solana suffered a network outage, just shy of a year since its last shutdown. The blockchain had to quickly get a new version out and notify its validators to upgrade to it and restart their systems before blocks could be produced again, resulting in downtime of roughly five hours. This was previously something that had happened regularly to the blockchain, but seemed to have been largely addressed over the past year. Lucas, the CEO of Jito Labs, which builds infrastructure for Solana and staged a highly successful airdrop last year that helped rejuvenate the blockchain, joined Unchained to discuss what caused the outage, whether it?s something that builders on Solana should be concerned about for the future, recent improvements Solana has made to its technology, whether the implementation of Firedancer would have prevented this incident, and the promise of the Solana phone.  Show highlights: What caused the Solana blockchain?s outage this week Whether Solana needs to have better quality control  Whether the halt of the network affects the builders in the space What recent developments in the infrastructure surrounding Solana give Lucas confidence in the network Whether the Firedancer client that?s now in development would have prevented this week?s outage The promise of the Solana phone Whether the network going down presents a setback for the Solana community in terms of recognition and momentum Whether financial companies will consider using Solana if these issues keep occurring Thank you to our sponsors! Popcorn Network iTrustCapital Polkadot Guest Lucas Bruder, CEO of Jito Labs Links Recent coverage of Unchained on Solana: Jupiter Founder Meow to Critics of JUP Airdrop: ?Give Me a Break? Three Crypto Pioneers on Crypto?s Monolithic vs. Modular Debate Anatoly Yakovenko on Solana?s Astounding Recovery and Its Future Plans Outage Unchained: Solana Back Online Again After Suffering 5-Hour Outage Matthew Sigel?s explanation for why the outage happened Mert?s tweet on how Solana prioritizes security over liveness CoinDesk: Can We All Stop Pretending That Solana Is in Beta? Learn more about your ad choices. Visit megaphone.fm/adchoices
2024-02-09
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The Chopping Block: Is Farcaster the Web3 Social Layer? - Ep. 605

Welcome to The Chopping Block ? where crypto insiders Haseeb Qureshi, Tarun Chitra, and Robert Leshner chop it up about the latest news and with special guest, and Farcaster aficionado Ted! This episode zooms in on Farcaster Frames: How are they revolutionizing the platform? We examine Farcaster's transformation and its impact on the future of social media: Can Farcaster redefine decentralized communication? Delving into its user base, we ask: What makes Farcaster's community unique? How do airdrop strategies and global hub distribution shape its ecosystem? And what's next for decentralized social networks like Farcaster? Join us for an insightful discussion on these pivotal questions impacting the crypto sphere. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show Highlights ? Farcaster frames launch: Revolutionizing user engagement in crypto communities. ? Social Media Evolution: Farcaster's Rise from Niche Network to Powerhouse. ? Global dynamics: Farcaster's u.s. focus vs. Lens' worldwide appeal. ? Decentralized platforms: the unique soul of Farcaster and Lens communities. ? Airdrop strategies: boosting Farcaster's growth and user engagement. ? From social networks to media: Farcaster's balancing act. ? Overcoming adoption barriers: user reluctance vs. Farcaster's innovations. ? A shift in content, authenticity and interaction on Farcaster. ? Expanding Farcaster's ecosystem globally. ? Farcaster's vision: the future of decentralized social networks. ? Discovering Farcaster: overcoming hesitation, embracing curiosity. Hosts ??Haseeb Qureshi, Managing Partner at Dragonfly  ??Tarun Chitra, Managing Partner at Robot Ventures ??Robert Leshner, Founder of Compound Guest ?? Ted, the Farcaster Fangirl #1 Disclosures Links Why Farcaster Frames are important: How a failed Facebook bet is coming to fruition in Web 3 By Antonio García Martínez Learn more about your ad choices. Visit megaphone.fm/adchoices
2024-02-08
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2 Lawyers on How the U.S. Can Finally Regulate DeFi - Ep. 604

Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Pandora, Google Podcasts, Amazon Music, or on your favorite podcast platform. Trying to regulate DeFi is a huge challenge because in a truly decentralized system, there should be no centralized actors to make and enforce rules for. This could make combating illicit finance challenging since traditionally, regulation has been targeted at centralized intermediaries. Yet Rebecca Rettig, Chief Legal and Policy Officer at Polygon Labs; Michael Mosier, the co-founder of boutique law firm Arktouros; and Katja Gilman, senior lead for public policy at Polygon Labs, published a paper last week that proposes to do just that.  Rebecca and Michael join Unchained to discuss what prompted them to write the paper, what the difference is between "onchain CeFi" and "genuine DeFi," how targeting high-risk wallets can be one part of the solution, how critical communications transmitters (CCTs) are another piece of the puzzle, and what next steps they are pursuing.  Show highlights: The motivations behind their paper and Michael and Rebecca?s legal backgrounds Why Michael views the Bank Secrecy Act as outdated in the context of DeFi How critical KYC and AML compliance is for the integrity of DeFi What Rebecca identifies as the principal risks in the DeFi sector Why their proposal targets the protocol layer for effective DeFi regulation How "onchain CeFi" differs fundamentally from "genuine DeFi" Whether a decentralized protocol can be effectively regulated when controlled by a DAO How if DeFi were to be classified as critical infrastructure by the Cyber and Information Security Agency (CISA), it would impact the sector Whether the critical components of blockchain networks, such as RPCs, can be regulated effectively How categorizing wallets based on risk can be one part of the solution to fighting illicit finance Why Rebecca considers Tornado Cash a prime example of ?genuine DeFi? What steps Rebecca and Michael plan to take next following the publication of their paper Thank you to our sponsors! Popcorn Network Polkadot Guest: Rebecca Rettig, Chief Legal and Policy Officer at Polygon Labs Previous appearances on Unchained: Just a Coincidence? Coinbase and Polygon Lawyers See Bad Omens in SEC Crackdown Kik?s Surprising Move in Its Lawsuit With the SEC Michael Mosier, cofounder of Arktouros PLLC Links Previous coverage of Unchained on the topic: Could the Bank Secrecy Act Harm Crypto? Coin Center Thinks So  Full paper: Genuine DeFi as Critical Infrastructure: A Conceptual Framework for Combating Illicit Finance Activity in Decentralized Finance Rebecca?s thread Coin Center: Broad, Ambiguous, or Delegated: Constitutional Infirmities of the Bank Secrecy Act Tornado Cash Unchained: Given the Sanctions on Tornado Cash, Is Ethereum Censorship Resistant? Illicit funds in crypto: Unchained: How Much Money Are Terrorists Actually Raising in Crypto? Learn more about your ad choices. Visit megaphone.fm/adchoices
2024-02-06
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The Chopping Block: Points or Airdrops, Which Is the Better Engagement Model for Crypto Projects? - Ep. 603

Welcome to The Chopping Block ? where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest news and with special guest Aevo's Co-Founder - Julian Koh. This episode zeroes in on the latest buzz around the Jupiter ($JUP) airdrop: What's the real story behind Jupiter?s valuation and controversy? We peel back the layers of Jupiter's token strategy and its impact on market dynamics. The dialogue then shifts to the innovative approaches of Aevo (formerly Ribbon Finance) in pre-launch derivatives and the burgeoning trend of airdrop farming: How are Airdrop strategies altering the landscape of token valuation and investor behavior? The debate intensifies as we tackle the contentious battle between points systems and traditional airdrops: Are points a revolutionary engagement tool or a complex web of incentives? With the resurgence of ICOs and the strategic pivot of Ribbon Finance, we explore the implications of rebrands on the crypto ecosystem. Join us for an in-depth exploration of these critical topics and their profound impact on the world of cryptocurrency. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show Highlights ? Jupiter Airdrop Deep Dive: Unraveling the complexities and controversies behind the Jupiter ($JUP) airdrop. ? Valuation Variance: Examining the fluctuations in Jupiter token valuation and their market repercussions. ? Community Engagement: Evaluating the effectiveness of @weremeow's live streams in shaping community perceptions. ? Airdrop Discontent: Analyzing the liquidity dynamics and user dissatisfaction stemming from airdrop strategies. ? Innovations in Derivatives: Exploring Aevo's unique approach to pre-launch derivatives in the DeFi space. ? The Airdrop Farmer's Dilemma: Discussing the strategies used by airdrop farmers to hedge against price volatility. ? Points vs. Airdrops Debate: Delving into the pros and cons of points systems compared to traditional airdrop mechanisms. ? Rebranding Strategies: Assessing the impact of token rebrands, with a focus on Ribbon Finance's evolution. ? Pre-IPO Markets and Crypto: Drawing parallels between traditional pre-IPO conversion markets and crypto points systems. ? The Uncertainty Factor: Considering how the allure of uncertainty influences engagement and investment in crypto. ? Protocol Dynamics: Investigating the effects of airdrop farmers on the health and engagement of blockchain protocols. ? ICO Resurgence: Discussing the potential comeback of Initial Coin Offerings and their role in the crypto funding landscape. ? Stress Testing with Points: Highlighting innovative uses of points for protocol stress testing like Eigenlayer. ? Referral Systems in Crypto: Analyzing the impact of referral-based points systems on protocol engagement and growth. Hosts ??Haseeb Qureshi, Managing partner at Dragonfly  ??Tom Schmidt, General Partner at Dragonfly  ??Tarun Chitra, Managing Partner at Robot Ventures Guest ?? Julian Koh, Aevo's Co-Founder Disclosures Links Jupiter LFG Launchpad Blog Article - https://station.jup.ag/blog/jupiter-lfg-launchpad  Blockworks: ?Jupiter airdrop draws criticism, but support remains strong? - https://blockworks.co/news/jupiter-airdrop-draws-criticism  Proposal: ?Merge Ribbon Finance into Aevo? - https://gov.ribbon.finance/t/rgp-33-merge-ribbon-finance-into-aevo/709  Weremeow?s Twitch Stream: https://www.twitch.tv/weremeow  Learn more about your ad choices. Visit megaphone.fm/adchoices
2024-02-03
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Jupiter Founder Meow to Critics of JUP Airdrop: ?Give Me a Break? - Ep. 602

While Solana DeFi protocol Jupiter staged what was by most measures a very successful airdrop launch on Wednesday, achieving a market cap of close to $800 million, the company?s critics pointed out numerous ways the company seemed to unfairly enrich itself in the process. While Jupiter?s founder, who goes by the pseudonym Meow, acknowledges he might have done some things differently, he finds the criticisms of the launch mostly based on ?bad faith? and misinformation.   Meow joined Unchained to discuss the thinking behind the launch mechanics of JUP, how the prior launch of memecoin WEN served as a dry run for JUP, whether the aggressive pricing strategy of JUP was a mistake, and what he hopes to achieve with Jupiter next, including the possibility of enabling companies of all kinds to list themselves publicly on chain.  Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Show highlights: What Jupiter is and how it extends its functionality beyond mere token swapping What users are primarily utilizing the dollar-cost-average feature of Jupiter for Meow?s background in crypto and how he ended up in the Solana ecosystem Why a launchpad seemed the ideal choice for Jupiter's token launch What prompted the decision to release WEN, a memecoin, before launching JUP Meow's response to criticisms regarding the launchpad's mechanics Whether the aggressive pricing strategy for Jupiter was a misstep How Meow feels about being targeted for criticism What's on the horizon for Jupiter as a platform following the airdrop Thank you to our sponsors! Popcorn Network iTrustCapital Guest: Meow, cofounder of Jupiter Links Unchained:  Jupiter Traders Claim Whopping 545 Million JUP Tokens in First 8 Hours of Airdrop Jupiter?s Airdropped Token JUP Debuts at a $878 Million Market Cap Pro-Ethereum Crowd Slams Solana-based Jupiter Airdrop as ?Absolute Trash? Breakpoint 2023 Meow conference The Block: Solana DEX aggregator Jupiter confirms token release date Learn more about your ad choices. Visit megaphone.fm/adchoices
2024-02-02
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A16z Crypto?s Chris Dixon on How Blockchains Can Save the Internet - Ep. 601

Sign up for our free newsletter here! Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Chris Dixon, founder and managing partner of a16z crypto, believes the Internet?s early ideals of democratization and community ownership have been subverted by the consolidation of power into just a few small companies like Facebook and Google. He?s written a new book called Read Write Own in which he writes about this phenomenon, and argues that blockchain technology can help reverse the trend by providing an environment in which developers and entrepreneurs can once again build direct relationships with their audiences.  Dixon joins Unchained to discuss criticisms of crypto VC firms, how he feels now about a16z?s previous investment in Facebook, how crypto has become overly politicized in the U.S., why Facebook?s Libra project was ultimately shut down, the significant promise of restaking and EigenLayer in particular, and why he believes that creator royalties are essential for the NFT market.   Show highlights: what inspired Chris to write his new book and why he thinks the crypto industry is misunderstood what the current problems of the Internet are and how just a few companies control most of the revenue how Chris explains the concept of blockchains to the layman the importance of property rights in the real world and how blockchains make this better how Chris responds to the criticism that venture capital firms ?dump on retail? and what a proper allocation of tokens to VCs is what the best designs are to achieve good governance in decentralized networks how the crypto industry has become politicized in the U.S.  what Chris thinks about a16z?s investment in Facebook why Facebook?s Libra project was shut down and his takeaways from the venture what lessons Chris learned from the 2022 crypto debacle, with the collapse of FTX, Terra, Celsius, 3AC, etc. where Chris sits in the debate about modular vs. monolithic networks how restaking and EigenLayer could ?unlock a bunch of new design possibilities,? according to Chris the role of open source software in driving a better environment and better projects how decentralized social networks could attract new levels of adoption  whether creator royalties are necessary and why Chris believes that they are ?non-negotiable? Thank you to our sponsors! Popcorn Network Guest: Chris Dixon, founder and managing partner of a16z crypto, author of Read Write Own Previous appearance on Unchained: Chris Dixon on How Trust Is the Best Lego Links Tokenomics Unchained: What Is Tokenomics? A Beginner's Guide Venture Capital Unchained: Does Venture Capital Investment Violate the Ethos of Crypto? Sequoia Says No Modular vs. monolithic Unchained:  Three Crypto Pioneers on Crypto?s Monolithic vs. Modular Debate What Are Modular Blockchains? A Beginner's Guide Restaking Unchained:  Do You Need to Think Twice Before Restaking Your Assets?  What Is Ethereum Restaking? A Beginner's Guide Royalties Unchained: Are NFT Royalties the Way? How to Build a Sustainable Creator Economy The Chopping Block: Two on Two Debate: NFT Royalty Throwdown! The 2022 debacle Unchained: Collapses, Bankruptcies, and Fraud: How 2022 Became the Year of Crypto Carnage SocialFi Unchained: What Is SocialFi? A Beginner?s Guide Crypto & AI Unchained: When AI and Blockchain Meet, How Can Each Technology Benefit? The Chopping Block: Why AI Will Change the Course of History in Crypto Learn more about your ad choices. Visit megaphone.fm/adchoices
2024-01-30
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The Black Swan Event That Could Cause a Fork in Ethereum (Again) - Ep. 600

Sign up for our free newsletter here! Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. This week a major potential risk to Ethereum was highlighted by a bug that surfaced in Nethermind, a minority execution client. While the bug was fixed quickly, it raised the question of what would happen to the blockchain if Geth, which is used by more than two-thirds of validators and so is considered a ?supermajority client,? had a bug. The situation could potentially result in a catastrophic fork of Ethereum.  Ethereum developer Lefteris Karapetsas joined Unchained to discuss the different scenarios of what could happen, the potential impact of a supermajority client issue on staking services such as Lido, why he feels the incentive system is poorly designed, and what other solutions are out there to address the lack of client diversity.  Show highlights: What a consensus issue is in Ethereum and what happened with Nethermind last weekend Why it would be a big problem if a supermajority client had a bug The potential impact on staking services such as Lido Why Lefteris feels like he is reliving the historic Ethereum DAO hack all over again Whether the largest entities running nodes will start pursuing client diversity How the data on the prevalence of specific Ethereum execution clients is not verifiable or programmatic, making it less transparent and difficult to analyze Why Lefteris believes that the incentive system is not designed to achieve client diversity Whether there are developments in the works to try to solve the lack of client diversity  Thank you to our sponsors! Popcorn Network iTrustCapital Guest  Lefteris Karapetsas, Founder of Rotkiapp Previous appearance on Unchained: Is Code Law? Should the Hacker Be Punished? The DAO Creators Disagree Links Unchained:  Most Ethereum Staking Pools Are Using Just One Execution Client, Potentially Increasing Risks to the Network The Chopping Block: Data Availability & Why It?s Important CoinDesk: Bug That Took Down 8% of Ethereum's Validators Sparks Worries About Even Bigger Outage The Defiant: Ethereum Software Client Centralization Sparks Concern Crypto.news: Nethermind rolls out urgent fix for block processing bug in Ethereum client Lukasz Rosmej?s tweet that minority client Nethermind had a consensus issue Lefteris? tweet on a supermajority Ethereum client bug  Coinbase CEO Brian Armstrong's tweet on what he?d do in a censorship resistance request scenario Run the majority client at your own peril! by Dankrad Feist Learn more about your ad choices. Visit megaphone.fm/adchoices
2024-01-26
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The Chopping Block: Data Availability & Why It?s Important - Ep. 599

Welcome to The Chopping Block ? where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest news. This week kicks off with a crucial question: Are the latest trends in crypto ETFs signaling a major shift in the investment landscape? We delve into the market's nuanced response to these ETFs and what it means for investors. How important is client diversity for Ethereum's stability and future growth? The squad engages in a lively debate on this topic. With the advent of Proto-Danksharding, how might Ethereum's scalability be impacted, and what are the implications for the blockchain ecosystem? We further examine the user experience across blockchain platforms, particularly comparing Solana and Ethereum in terms of their user interfaces and transaction dynamics. Looking to the future, what breakthroughs and challenges can we anticipate in blockchain technology? Join us for an in-depth exploration of these key questions and their profound impact on the world of cryptocurrency. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform.   Show highlights:  ? ETF Market Analysis: Dissecting the impact of GBTC and other ETFs on the crypto market. ? Client Diversity in Ethereum: Debating the pros and cons of multiple clients for network resilience. ? Proto-Danksharding Effects: Assessing its potential to lower rollup costs and enhance scalability. ? User Experience in Crypto: Exploring how fees and speeds affect user interactions on various platforms. ? Solana vs. Ethereum UX: Comparing their user interfaces, focusing on transaction costs and latency. ? Blockchain's Future Trends: Delving into predictions and emerging innovations in the blockchain world. ? Ethereum's Protocol Evolution: Discussing the roadmap and future developments in Ethereum. ? Scalability Solutions: Evaluating different approaches to scaling blockchains effectively. ? Layer 2 Dynamics: Analyzing the growth and challenges of Layer 2 solutions on Ethereum.   Hosts Haseeb Qureshi, managing partner at Dragonfly  Robert Leshner, founder of Compound Tom Schmidt, general partner at Dragonfly  Tarun Chitra, managing partner at Robot Ventures   Disclosures Links Vitalik's post about Cypherpunk values: https://vitalik.eth.limo/general/2023/12/28/cypherpunk.html  PolyMarket for gas price per blob after EIP 4844: https://polymarket.com/event/gas-price-per-blob-1-month-after-eip-4844?tid=1706149992794  Tweet thread from DC investor: https://twitter.com/iamDCinvestor/status/1749410364666606075  Ethereum's Proto-Danksharding and EIP-4844: https://www.eip4844.com/  Ethereum 2.0 Clients Dashboard: https://clientdiversity.org/#distribution  Solana's Firedancer: https://github.com/firedancer-io Learn more about your ad choices. Visit megaphone.fm/adchoices
2024-01-25
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OG Olaf Carlson-Wee on Why His Crypto Thesis Is Stronger Than Ever - Ep. 598

Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Polychain Capital founder and CIO Olaf Carlson-Wee has been through every single bubble in crypto history, from Bitcoin?s rise past the single digits in 2012 to the ICO craze of 2017 to 2021?s NFT mania, and he says his main thesis about crypto has remained consistent since the beginning. That is, that crypto constitutes an ?incentive vortex? that will replace the world?s preoccupation with country-backed currencies.  Carlson-Wee, who was the first employee at Coinbase, joins Unchained to discuss the significance of the launch of spot Bitcoin ETFs, how he successfully navigated all the industry blow-ups in 2022, the challenges of balancing incentives for early adopters versus new users, why EigenLayer is so significant, why Worldcoin?s distribution strategy is a ?disaster,? and the strange places that the intersection between crypto and AI could take us.  Show highlights: Why Olaf sees the current market as the cusp of another bull run and how his thesis has remained consistent since 2011?? How the launch of spot Bitcoin ETFs marks a significant milestone  Why criticisms of the crypto space are really criticisms of money in general  The fundamental differences between Web3 applications and the Web2 ecosystem and why they matter The importance of fair token distribution in enhancing the value of Web3 projects When Olaf expects Bitcoin to replace legacy financial systems The areas and technologies Olaf and his fund are keen to invest in Why Olaf thinks a modular blockchain architecture is superior to a monolithic one in the long term How EigenLayer is innovating to enable new types of applications and whether it competes with Celestia How Polychain managed to avoid being hurt by the major market blowups of 2022, including Terra and FTX The evolution of the space from an ideologically driven to a more pragmatic approach The significance of incentive design in crypto ecosystems and the trade-offs involved in system design Olaf?s perspective on the recent rise of points systems The growth of privacy-focused crypto projects and the potential for private blockchains to become the norm Why he thinks Worldcoin?s distribution strategy is a ?disaster? Olaf?s interest in the intersection of AI and crypto and potential developments in this area His bullish outlook on SocialFi and Web3 gaming Thank you to our sponsors! Popcorn Network Guest: Olaf Carlson-Wee, founder and CIO of Polychain Capital Previous appearances on Unchained: Olaf Carlson-Wee: 'If There Is a Money-Losing Exploit, the Money Is Gone'  Why The First Employee Of Coinbase Launched A Hedge Fund To the Moon and Back With Polychain's Olaf Carlson-Wee Special Episode with CNBC's Crypto Trader: Olaf Carlson-Wee on Why This Crypto Winter Is Different From Previous Ones All Things Cryptoeconomics, Pt. 1, With Olaf Carlson-Wee and Ryan Zurrer of Polychain Capital Links Olaf Carlson-Wee Forbes:  This Man Has Been Living On Bitcoin For 3 Years Why This Hedge Fund CEO Once 'Put Most Of My Meager Life Savings Into Bitcoin' TechCrunch: The future is a decentralized internet Blockworks: Why Polychain Capital Founder Never Sells His Crypto  CoinDesk: Olaf Carlson-Wee: Crypto Is the Great Wealth-Redistribution Machine Restaking/EigenLayer Unchained:  DeFi Protocol EigenLayer Reaches Restaking Capacity, Pushing TVL Past $1.4 Billion Do You Need to Think Twice Before Restaking Your Assets?  Olaf?s tweet on EigenLayer Crypto + AI Olaf?s tweet: ?in crypto nearly 100% of value accrues to start-ups and outsiders, not existing establishment interests? Visit Unchained for more links and details Learn more about your ad choices. Visit megaphone.fm/adchoices
2024-01-23
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Why the SEC?s Case Against Coinbase Is So Significant for Crypto - Ep. 597

On Wednesday, a federal court in New York heard oral arguments in Coinbase?s motion to dismiss the SEC?s case against it for, among other things, allegedly acting as an unregulated securities exchange. Notably, Judge Katherine Polk Failla pressed the SEC to explain how it has jurisdiction over Coinbase in the case by defining what it considers a security.  Sam Enzer, a partner at Cahill Gorden & Reindel who represents Coinbase but not in this matter, joined Unchained to discuss why this case is so significant for the crypto industry, how he believes the government contradicted itself on the crucial definition of what constitutes a security, why he thinks the judge will not dismiss the case at this early stage, how the Ripple and Terraform Labs cases could be used by each side, and why he thinks Judge Failla is such a perfect choice to rule in this case.   Show highlights: Why SEC v Coinbase holds important implications for the U.S. crypto ecosystem What the SEC alleges against Coinbase, focusing on its trading platform, wallet, and staking services How Coinbase forcefully counters the SEC's claims as it strives to get the case dismissed What the ?major questions doctrine? entails and its critical role in this dispute Why Sam perceives the judge as ?extremely skeptical? of the SEC's stance Whether inconsistencies surfaced in the SEC lawyers' arguments What ?strict liability? means and its frequent mention in this legal battle What takeaways from the Ripple and Terraform Labs cases offer about secondary market sales Why Sam believes Judge Katherine Polk Failla is exceptionally well-suited for this case Whether Judge Failla might reject the motion to dismiss, and when  Thank you to our sponsors! Popcorn Network iTrustCapital Guest Sam Enzer, partner at Cahill Gordon & Reindel Previous appearances on Unchained:  Why SBF's Testimony So Far Has Likely Already Doomed Him Another Bad Week for Sam Bankman-Fried in His Criminal Trial Why These Lawyers Say It's Over for SBF-But His Only Hail Mary Is to Testify SBF Trial: How Sam Bankman-Fried?s Lawyers Might Try and Win His Case SBF?s Lawyers Could Be Annoying the Judge How Might That Impact the Trial? Links Previous coverage of Unchained on the Coinbase case and the topic of securities: SEC Sues Binance, Coinbase: ?This Is Not the End of Crypto in the United States?  These 2 Crypto Trading Platforms Agree With SEC Chair Gary Gensler Coinbase?s Legal Action Against the SEC: How It Will Likely Unfold  ?Is ETH a Security?? Why Gary Gensler Couldn?t Give Congress a Straight Answer Gary Gensler vs. Crypto: What Will the SEC Attack Next? Rep. Emmer on Why He Believes Gary Gensler Is a ?Bad-Faith Regulator? Coinbase vs. SEC Unchained:  Federal Judge Presses SEC Over Jurisdiction in Case Against Coinbase SEC Sues Coinbase for Breaking Securities Laws SEC Files Motion to Freeze Binance?s Assets, Asks for ?Sworn Accounting? SEC Files 13 Charges Against Binance Including the Mishandling of Funds, Sale of Unregistered Securities SEC Calls Solana, Polygon, Algorand and Other Tokens Securities but Misses Ether in Binance Lawsuit Cointelegraph: Senator Lummis files amicus brief supporting Coinbase?s dismissal motion against SEC. Other cases Kraken CNBC: Crypto exchange Kraken settles with SEC for $30 million, will close US staking operation XRP Unchained: SEC vs Ripple: Judge Rules XRP Sold on Exchanges Is Not a Security Terraform Labs Reuters: Judge sides with US SEC, says Terraform Labs crypto founder Do Kwon violated law Learn more about your ad choices. Visit megaphone.fm/adchoices
2024-01-19
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The Chopping Block: When Will the ETF Hype End? - Ep. 596

Welcome to The Chopping Block, where crypto experts Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner bring you inside perspectives on critical topics in the crypto world. This episode delves into the complexities and market impact of crypto ETFs: Are they a game-changer for investors? The team also examines the controversies surrounding Tether, exploring its stability and the implications of recent scandals. They then shift focus to the burgeoning world of asset-backed securities and crypto casinos: What potential and challenges do they present? NFTs and their evolving role beyond digital art are scrutinized, along with the integration of crypto technology in devices like the Solana phone. Tune in for a thought-provoking discussion on these critical developments shaping the future of cryptocurrency. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show highlights:  ? ETF Performance Analysis: Grayscale Bitcoin Trust and Competitors. ? Circle IPO: Impact on Stablecoin Market and Financial Ecosystem. ? Tether Controversy: Financial Backing and Southeast Asian Scams. ? Vivek Ramaswamy's Political Future: Influence on Crypto Policy. ? Asset-Backed Securities (ABS) in Crypto: Opportunities for Investors. ? Crypto Casinos: Rise in Popularity and Move Toward Transparency. ? NFTs in Mainstream Culture: Adoption and New Use Cases. ? Crypto and Traditional Finance: Stablecoins like USDC and Tether. ? Crypto Integration in Devices: Solana Phone and Market Adoption. Hosts Haseeb Qureshi, managing partner at Dragonfly  Robert Leshner, founder of Compound Tom Schmidt, general partner at Dragonfly  Tarun Chitra, managing partner at Robot Ventures Disclosures Links Blockworks: Tether says UN needs more blockchain education in response to USDT report by Casey Wagner  UNODC: Casinos, Money Laundering, Underground Banking, and Transnational Organized Crime in East and Southeast Asia: A Hidden and Accelerating Threat CNBC: Costco sold more than $100 million in gold bars last quarter by Spencer Kimball Number Go Up: Inside Crypto's Wild Rise And Staggering Fall by Zeke Faux CNBC: BlackRock CEO Larry Fink: Bitcoin ETF approvals are ?stepping stones? towards tokenization Learn more about your ad choices. Visit megaphone.fm/adchoices
2024-01-18
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How Small Bitcoin ETF Issuers Will Compete With the Likes of BlackRock - Ep. 595

Thursday was a momentous day in crypto as the first SEC-approved spot Bitcoin ETFs finally began trading after more than a decade of waiting, and by almost all accounts, it was a huge success, with more than $625 million in inflows on the first day of trading.  Bitwise CIO Matt Hougan and VanEck head of digital assets research Matthew Sigel joined Unchained to discuss their approaches towards selling their products in the market, the challenges of competing with larger firms like BlackRock and Fidelity, the fee wars and where those are headed, the importance of specialist expertise in the crypto investment space, and how Bitcoin prices might react to all the new supply in the market.  Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Show highlights: Why Matt Hougan regards the first week as a massive success for Bitcoin How Matthew Sigel emphasizes the costs and benefits ETFs offer to retail investors The strategic marketing approaches of VanEck and Bitwise aligning with Bitcoin community values The reasons for Bitwise's standout performance in the first days of trading, according to Matt Whether the introduction of Bitcoin ETFs will reshape the broader ETF landscape Matt's perspective on why some financial institutions resist Bitcoin, and their eventual openness to crypto Whether the established players in finance feel threatened by the rise of open source technologies Whether Gary Gensler?s statement after the approval is ?totally crazy? Why data for the various ETFs in the market should be analyzed on a weekly or monthly basis The ongoing fee competition and how smaller entities can compete against giants like BlackRock and Fidelity Grayscale's strategies to remain competitive with higher fees and the possibility of launching a new, low-fee ETF How investment advisors might adapt to these new crypto products and the potential for mainstream adoption Matthew?s predictions for when BTC investors, both short-term and long-term, will take profits Why they are both closely monitoring Ethereum's performance and the prospects for a spot ether ETF in the market Thank you to our sponsors! Arbitrum Foundation Popcorn Network Guests: Matt Hougan, Chief Investment Officer at Bitwise Asset Management Previous appearances on Unchained: Why a Spot Bitcoin ETF Will Probably Launch No Later Than January 10 Matthew Sigel, Head of Digital Assets Research at VanEck. Links Previous coverage of Unchained on spot Bitcoin ETFs: Why Some Brokerage Firms Are Blocking Access to Spot Bitcoin ETFs Why Spot Bitcoin ETFs Are Likely to Finally Start Trading on Thursday  Why the SEC May Want Cash Creation of Spot Bitcoin ETFs Why It Looks Like BlackRock Could Win America?s First Spot Bitcoin ETF Will a Spot Bitcoin ETF Finally Get Approved? The 4 Factors That Will Determine Which Spot Bitcoin ETFs Win Market Share How Much Money Will Flow Into Bitcoin ETFs? Here?s One Projection Approval: Unchained:  Spot Bitcoin ETFs Finally Receive SEC Seal of Approval What Officials, ETF Issuers, and Others Are Saying About the SEC's Spot Bitcoin ETF Approvals Laura Shin?s op-ed on Unchained: Why Spot Bitcoin ETFs Are (But Mostly Aren't) a Big Deal for Crypto David Z. Morris? op-ed on Unchained: The SEC?s Bumbling Bitcoin ETF Rollout Was Perfectly On-Brand First days of trading Unchained:  Spot Bitcoin ETFs Record $4.6 Billion First Day Trading Volume Spot Bitcoin ETF Inflows Topped $625 Million on First Day in ?Phenomenal? Debut, Led by Bitwise Vanguard Isn?t Allowing Customers to Buy Spot Bitcoin ETFs Visit Unchained for more links and details Learn more about your ad choices. Visit megaphone.fm/adchoices
2024-01-16
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Why Some Brokerage Firms Are Blocking Access to Spot Bitcoin ETFs - Ep. 594

Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Unless you've been living under a rock, you probably heard that spot Bitcoin ETFs were finally approved by the SEC this week. That set the stage for 11 such offerings from the likes of BlackRock, Fidelity, and ARK 21Shares to begin trading on Thursday. On this episode of Unchained, Nate Geraci, president of the ETF Store; Eric Balchunas, senior ETF analyst at Bloomberg Intelligence; and James Seyffart, research analyst at Bloomberg Intelligence discussed the initial record trading volumes, the mechanics of how the funds work, the botched roll-out process, the pointed commentary from SEC commissioners, the potential for future Ethereum spot ETFs and predictions for total inflows. Plus, they explain why brokerage firms like Vanguard, Merrill and others were blocking customer access to the ETFs. Show highlights: The initial impact and trading volumes on the launch day of the ETFs How BlackRock?s ETF, IBIT, had a lot of volume in pre-market and what that means Why Eric was surprised that BlackRock proceeded with a waiver for its ETF, but realized that it was ?genius marketing? Whether there?s a problem that ETFs don?t trade 24/7, unlike BTC itself Why James says the spot ETFs are not going to have significant premiums or discounts to NAV  What the percentage premium is and how it will play out with spot Bitcoin ETFs Whether the SEC will ever allow in-kind creation and redemption Why Nate and Eric believe that the SEC?s denials of spot Bitcoin ETFs for a decade was ?completely suboptimal? for retail investors How the SEC commissioners pointedly disagreed with each other in their comments and dissents The politics of the approval process Whether Ethereum spot ETFs will be approved next Why some big platforms and brokerages are not offering the spot Bitcoin ETFs How RIAs will respond to the ETF and whether there?s going to be mainstream adoption by advisors Thank you to our sponsors! Arbitrum Foundation Popcorn Network iTrustCapital Guests James Seyffart, Research analyst at Bloomberg Intelligence Previous appearances on Unchained: Why Spot Bitcoin ETFs Are Likely to Finally Start Trading on Thursday Why the SEC May Want Cash Creation of Spot Bitcoin ETFs Why It Looks Like BlackRock Could Win America?s First Spot Bitcoin ETF Why a Spot Bitcoin ETF Will Probably Launch No Later Than January 10 Eric Balchunas, Senior ETF analyst at Bloomberg Intelligence Previous appearances on Unchained: Why Spot Bitcoin ETFs Are Likely to Finally Start Trading on Thursday Will a Spot Bitcoin ETF Finally Get Approved? Nate Geraci, President of The ETF Store Links Previous coverage of Unchained on spot Bitcoin ETFs: The 4 Factors That Will Determine Which Spot Bitcoin ETFs Win Market Share How Much Money Will Flow Into Bitcoin ETFs? Here?s One Projection The Chopping Block: Are We Back? The ?Low IQ? Response to the Potential Spot Bitcoin ETF Approval: Unchained:  Spot Bitcoin ETFs Finally Receive SEC Seal of Approval What Officials, ETF Issuers, and Others Are Saying About the SEC's Spot Bitcoin ETF Approvals Laura Shin?s op-ed on Unchained: Why Spot Bitcoin ETFs Are (But Mostly Aren't) a Big Deal for Crypto David Z. Morris? op-ed on Unchained: The SEC?s Bumbling Bitcoin ETF Rollout Was Perfectly On-Brand Learn more about your ad choices. Visit megaphone.fm/adchoices
2024-01-12
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The Chopping Block: Unraveling the SEC Hack, Futarchy, and Twitter Trolls - Ep. 593

Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Welcome to The Chopping Block, where crypto experts Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner bring you inside perspectives on critical topics in the crypto world. In this episode, they're joined by Gwart, the caustic comedian of Crypto Twitter, as they explore questions like: What is Gwart's stance on the overhyped nature of DAOs and governance in crypto? How does Gwart view the potential and risks of NFTs, particularly Bitcoin-based Ordinals? The team also dives into the recent SEC Twitter hack - what does this incident reveal about market manipulation and the importance of cybersecurity? They then explore the competitive landscape of Bitcoin ETFs, discussing the implications of their fee structures. Finally, they consider the significance of developing crypto infrastructure that resonates with the average user, not just the niche crypto enthusiast. Tune in for an engaging exploration of these pivotal questions shaping the future of cryptocurrency. Show highlights:  ?The concept of Ethereum alignment and its origins ?The SEC's Twitter account being hacked and a fake BTC ETF approval tweet ?Fees for different ETF issuers and Grayscale's fee reduction for GBTC ?The SEC's Twitter account being hacked and the fake BTC ETF approval tweet ?The potential use case of prediction markets in Taiwanese elections ?Imprisonment of individuals in Taiwan for betting on the election through PolyMarket ?Discussion on the concept of futarchy and its potential implementation ?The prevalence of centralized exchanges and their impact on user adoption ?Gwart's role as an observer and heckler in the crypto space ?Building infrastructure for onboarding users in crypto ?The dichotomy between the ideal of decentralization and the reality of user adoption ?Criticism of DAO governance and lack of significant innovation Hosts Haseeb Qureshi, Managing Partner at Dragonfly  Robert Leshner, Founder of Compound Tom Schmidt, General Partner at Dragonfly  Tarun Chitra, Managing Partner at Robot Ventures Guest Gwart, Crypto Twitter Icon Disclosures Links Justin Drake on Bankless? ?57 - Ultra Sound Money | Justin Drake?: https://youtu.be/bWqhn1hXvVc  Justin Drake on ?ETH?s Biggest Upgrade Since EIP1559 | MEV Burn w/ Justin Drake and Dom?: https://youtu.be/nb7x7n8Ga3U  Eliezer Yudkowsky ? ?AI Alignment: Why It's Hard, and Where to Start?: https://youtu.be/EUjc1WuyPT8   Eliezer Yudkowsky - ?Why AI Will Kill Us, Aligning LLMs, Nature of Intelligence, SciFi, & Rationality?: https://www.dwarkeshpatel.com/p/eliezer-yudkowsky   Vitalik Buterin?s ?An Introduction to Futarchy?: https://blog.ethereum.org/2014/08/21/introduction-futarchy   Arthur Breitman?s ?Towards Futarchy in Tezos?: https://medium.com/tezos/towards-futarchy-in-tezos-54a7b8926967   ?More arrests for betting crypto on Taiwan election via blocked website? by Jono Thomson (Taiwan News, Staff Writer): https://www.taiwannews.com.tw/en/news/5070386   Learn more about your ad choices. Visit megaphone.fm/adchoices
2024-01-11
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Why Spot Bitcoin ETFs Are Likely to Finally Start Trading on Thursday - Ep. 592

It?s set to be a historic week in crypto, with the SEC widely expected to finally approve a spot Bitcoin ETF, although it?s not a 100% certainty. Two Bloomberg analysts who have followed all the developments closely since the beginning, James Seyffart and Eric Balchunas, join Unchained to discuss the final filings, the likely schedule, and whether all the applications are likely be approved on the same day. Then they dive into the real action: the cutthroat wars that have already begun, why Grayscale might be keeping its fees on the Grayscale Bitcoin Trust so high, and who the likely winners in what has traditionally been a ?winner take most? category will be.  Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Show highlights: What the recent 19b-4 and S-1 filings say about how close the ETFs are to approval Whether Hashdex's existing futures ETF impacts its treatment in the spot Bitcoin ETF process The likely timeline for trading to start post-ETF approval The possibility of simultaneous launches for all approved ETF issuers The SEC's concerns about ensuring a fair launch, informed by the BITO experience Eric?s surprise at JP Morgan's involvement as an Authorized Participant Why the SEC is approving the ETF despite Gensler?s stance against crypto What extreme cases Eric believes might cause the ETF not to be approved  How BlackRock's low fees set a challenging benchmark for competitors The potential for an issuer to offer even lower fees than current players How issuer margins are thin due to marketing fees, and the impact of waivers James? theory about why Grayscale might be keeping the fee on GBTC so high Predictions about which issuer(s) will gain the bulk of assets under management The rumor about BlackRock introducing substantial liquidity on the ETF's first day Eric and James's expectations for ETF inflows and market dynamics Thank you to our sponsors! Arbitrum Foundation Popcorn Network Guest: James Seyffart, Research analyst at Bloomberg Intelligence Previous appearances on Unchained: Why the SEC May Want Cash Creation of Spot Bitcoin ETFs Why It Looks Like BlackRock Could Win America?s First Spot Bitcoin ETF Why a Spot Bitcoin ETF Will Probably Launch No Later Than January 10 Eric Balchunas, Senior ETF analyst at Bloomberg Intelligence Previous appearances on Unchained: Will a Spot Bitcoin ETF Finally Get Approved? Links Previous coverage of Unchained on spot Bitcoin ETFs: The 4 Factors That Will Determine Which Spot Bitcoin ETFs Win Market Share How Much Money Will Flow Into Bitcoin ETFs? Here?s One Projection The Chopping Block: Are We Back? The ?Low IQ? Response to the Potential Spot Bitcoin ETF Fees  Unchained: Fee Competition Heats Up Among BlackRock and Other Spot Bitcoin ETF Applicants Caitlin Long?s tweet warning about no fees Fidelity set their fee to .39% Invesco/Galaxy chose to waive fees Market participants: Unchained: Goldman Sachs Could Take Vital Role in BlackRock, Grayscale Spot Bitcoin ETFs: Report The Block: Nasdaq to meet with SEC today to discuss spot bitcoin ETFs: Source Reuters: BlackRock, VanEck among asset managers that submitted updated filings for spot bitcoin ETF CoinDesk: BlackRock, Valkyrie Name Authorized Participants Including JPMorgan for Bitcoin ETF Others: Better Markets? letter: The SEC Must Follow the Law and Reject Spot Bitcoin ETPs Which Will Inflict Massive Investor Harm FXSTREET: BlackRock might be on track to create history with $2 billion inflows in spot Bitcoin ETF in a week Eleanor Terrett of Fox News? tweet on Better Markets? letter Scott Johnson of Van Buren Capital?s estimate Learn more:  Unchained:  Bitcoin ETFs Explained: What Are They & How Do They Work? Why The Spot Bitcoin ETF Is a Big Deal Deciding on Bitcoin: Should New Investors Jump In Now or Wait for an ETF? Learn more about your ad choices. Visit megaphone.fm/adchoices
2024-01-09
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The 4 Factors That Will Determine Which Spot Bitcoin ETFs Win Market Share - Ep. 591

Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. The past few days have been a busy stretch in the run-up to a potential spot Bitcoin ETF approval by the SEC. Goldman Sachs was revealed as a possible authorized participant (AP) for BlackRock and Grayscale?s offerings, the SEC met with representatives of major stock exchanges, and a report skeptical of an imminent SEC approval likely caused a 7% decline in Bitcoin. Spencer Bogart, general partner at venture capital firm Blockchain Capital, joined Unchained to break down what all of these events mean, as well as discuss who the likely winners will be among ETF issuers, the impact of a spot bitcoin ETF on companies such as MicroStrategy and Coinbase, and how a spot ETF will affect Bitcoin futures ETFs and leveraged crypto ETFs. Show highlights: Why the newly authorized participants in the spot Bitcoin ETFs are critical for maintaining the ETF?s price alignment The reasons behind the excitement over Goldman Sachs becoming an authorized participant in the spot Bitcoin ETFs How the Matrixport report led to a 7% drop in BTC value The importance of seed funding for ETFs and its impact on their stability and growth The pivotal role of distribution in an ETF and why Spencer emphasizes its significance Whether the fees charged by ETF issuers will become a decisive factor for consumers in choosing their preferred ETF The potential impact of changes in the Grayscale board on its aspirations to launch an ETF How the introduction of a spot Bitcoin ETF might influence BITO, the futures-based Bitcoin ETF Whether the launch of a spot Bitcoin ETF could affect the stock value of MicroStrategy Spencer's reasoning behind why Coinbase stands to "absolutely benefit" from the introduction of a spot Bitcoin ETF Thank you to our sponsors! Arbitrum Foundation Popcorn Network iTrustCapital Guest Spencer Bogart, General Partner at Blockchain Capital Links Previous coverage of Unchained on spot Bitcoin ETFs: Why the SEC May Want Cash Creation of Spot Bitcoin ETFs Why It Looks Like BlackRock Could Win America?s First Spot Bitcoin ETF Why a Spot Bitcoin ETF Will Probably Launch No Later Than January 10 How Much Money Will Flow Into Bitcoin ETFs? Here?s One Projection Why It Looks Like BlackRock Could Win America?s First Spot Bitcoin ETF The Chopping Block: Are We Back? The ?Low IQ? Response to the Potential Spot Bitcoin ETF Matrixport report Why the SEC will REJECT Bitcoin Spot ETFs again Jihan Wu?s tweet defending the analyst  Unchained: Why Did Bitcoin's Price Dip as ETF Approval Nears? Market participants: Unchained: Goldman Sachs Could Take Vital Role in BlackRock, Grayscale Spot Bitcoin ETFs: Report The Block: Nasdaq to meet with SEC today to discuss spot bitcoin ETFs: Source Reuters: BlackRock, VanEck among asset managers that submitted updated filings for spot bitcoin ETF CoinDesk: BlackRock, Valkyrie Name Authorized Participants Including JPMorgan for Bitcoin ETF 8-As The Block: Fidelity, Grayscale filing 8-A forms show progress for spot bitcoin ETF applications Fees Fidelity set their fee to .39% Invesco/Galaxy chose to waive fees Grayscale: Unchained: DCG CEO Silbert, President Murphy Exit Grayscale Board  Learn more:  Unchained:  Bitcoin ETFs Explained: What Are They & How Do They Work? Why The Spot Bitcoin ETF Is a Big Deal Deciding on Bitcoin: Should New Investors Jump In Now or Wait for an ETF? Learn more about your ad choices. Visit megaphone.fm/adchoices
2024-01-05
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The Chopping Block: If Vitalik Is the Pope of Crypto, Is Justin Sun the Inverse Pope? - Ep. 590

Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Welcome to The Chopping Block ? where crypto insiders Haseeb Qureshi, Tom Schmidt, and Tarun Chitra chop it up about the latest news. This week, they are joined by Laura Shin, the host of Unchained, to discuss the latest post from Ethereum co-founder Vitalik Buterin, who argues that crypto needs to get back to its idealistic cypherpunk roots. Is Vitalik the Pope of crypto, as Haseeb argues, and is there even a need for such an exemplary-type figure? And how do other influential crypto folks like Solana?s Anatoly Yakovenko and Tron?s Justin Sun fit into this dynamic? The gang also discusses the likely imminent approval of a spot Bitcoin ETF in the U.S. and what it might mean for Bitcoin?s price and Ordinals Inscriptions. Show highlights:  Who won the group?s bet on what the circulating supply of PayPal?s stablecoin, PYUSD, would be at the end of the year The Orbit Bridge hack and how the potential involvement of North Korea could be a problem for the industry How Vitalik?s post urging for a return to the cypherpunk ideals sparked a debate within the community Whether Vitalik is like ?the Pope of crypto? and whether there?s even a need for one Why it?s so important to keep the cypherpunk ethos, according to Tarun Why Tom believes, after reading Vitalik?s post, that the wrong lessons are being learned How Vitalik and Solana?s Anatoly Yakovenko could represent the religious leaders of two different approaches Whether Justin Sun is the ?inverse of Vitalik? How GBTC holders are the most impacted ones given that the spot Bitcoin ETFs will be created and redeemed in cash Whether the SEC is picking favorites in the Bitcoin ETF landscape What could happen to the price of BTC if the ETF is approved Whether the rise in Bitcoin?s price will increase fees so much that it crowds out Ordinals Inscriptions Hosts Haseeb Qureshi, managing partner at Dragonfly  Tom Schmidt, general partner at Dragonfly  Tarun Chitra, managing partner at Robot Ventures Guest Laura Shin, journalist, author of ?The Cryptopians,? founder and CEO of Unchained Disclosures Links Cypherpunk ideals Make Ethereum Cypherpunk Again by Vitalik Buterin Quotes on Vitalik?s post on X Business Insider: 'Heed these words of warning:' Ethereum founder threatens to leave if the crypto community doesn't grow up The Block: Solana Labs CEO: It ?doesn?t really matter? if the network goes down again Spot Bitcoin ETF Unchained:  77% of Financial Advisors Are Waiting for a Spot Bitcoin ETF to Offer Their Clients How Much Money Will Flow Into Bitcoin ETFs? Here?s One Projection Should First-Time Bitcoin Investors Buy Now or Wait for the ETF? Signs Increasingly Point to January Approval of Spot Bitcoin ETF Applications Why The Spot Bitcoin ETF Is a Big Deal Deciding on Bitcoin: Should New Investors Jump In Now or Wait for an ETF? CoinDesk: Michael Saylor Commences Plan to Sell $216M Worth of MicroStrategy Stock Options PayPal?s PYUSD bet: The Chopping Block: Curve Crisis Concludes With a Whimper, PayPal?s PYUSD Raises New Questions Orbit Bridge hack Unchained: Orbit Chain Announces 'Significant Clue' in $81 Million New Year's Eve Hack The Block: Orbit Chain's bridge reportedly hacked for $81.5 million Learn more about your ad choices. Visit megaphone.fm/adchoices
2024-01-03
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Three Crypto Pioneers on Crypto?s Monolithic vs. Modular Debate - Ep. 589

In this episode of Unchained, Anatoly Yakovenko, co-founder of Solana Labs, Nick White, COO at Celestia, and Chris Burniske, partner at VC firm Placeholder discuss the differences between modular and monolithic, or integrated, blockchains, with Solana epitomizing the monolithic approach and Celestia the modular one. They all agree that both approaches have their merits and will likely coexist, but argue each lends itself to specific use cases and developer preferences.They also discuss what will drive the next crypto bull cycle, and each gives their best predictions for a specific development in the crypto industry in the next few years.  Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Show highlights: Chris?s explanation of the modular vs. monolithic approach in blockchains What drove Anatoly to prioritize speed in Solana's architecture and its impact on the network What Celestia is and how it represents the first modular blockchain network Whether developers and users will gravitate more towards modular or monolithic blockchains How Solana, as one of the fastest blockchains, is gearing up to handle massive usage and scalability Why Chris views Celestia as a frontrunner in the data availability sector How Nick perceives the philosophical similarities and executional differences between Celestia and Solana Whether there's potential for Solana to transition into a modular blockchain in the future Why Chris believes that the Solana Virtual Machine (SVM) might surpass the Ethereum Virtual Machine (EVM) in user adoption What challenges Bitcoin faces in developing actual Layer 2 solutions, especially considering its "doomers storage" issue What could drive the next crypto bull market Top predictions for 2024 and beyond  Anatoly?s perspective on how a significant hack could pose a serious setback for the entire industry  Thank you to our sponsors! Arbitrum Foundation Popcorn Network iTrustCapital Guests: Anatoly Yakovenko, cofounder of Solana Labs Previous appearances on Unchained: Anatoly Yakovenko on Solana?s Astounding Recovery and Its Future Plans Will Solana Be the Execution Layer and Ethereum the Settlement Layer? Can Solana Seize Marketshare From Ethereum With Serum? Anatoly Yakovenko on Why Solana Is Building the SAGA Chris Burniske, partner at Placeholder Previous appearances on Unchained: Two VCs on Why This Is the Perfect Time to Invest in Crypto 2022 in Review + How Cobie and Chris Burniske Are Playing the New Year Cobie and Chris Burniske on How to Navigate a Crypto Bear Market How To Value A Crypto Asset Nick White, COO at Celestia Labs Links Modular vs. monolithic Alchemy: Modular vs. Monolithic Blockchains Visa: Monolithic vs. modular blockchain Chris Burniske?s tweet on modular vs monolithic ?The horrific inefficiencies of monolithic blockchains? by polynya Blockworks: A spicy salvo launched in the monolithic vs modular debate Unchained: What Is the Blockchain Trilemma? Celestia Celestia?s explanation of modular blockchains Data availability Data availability sampling An introduction to sovereign rollups Spot Bitcoin ETF: Unchained:  Why The Spot Bitcoin ETF Is a Big Deal Deciding on Bitcoin: Should New Investors Jump In Now or Wait for an ETF? Ledger ConnectKit incident Unchained: Ledger Library Compromised, Causing Confusion and Panic in Crypto Community Learn more about your ad choices. Visit megaphone.fm/adchoices
2024-01-02
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The Chopping Block: How Jito Helped Put Solana on the Map Again - Ep. 588

Welcome to The Chopping Block ? where crypto insiders Haseeb Qureshi, Tom Schmidt, and Tarun Chitra chop it up about the latest news. This week, they are joined by Lucas Bruder, co-founder and CEO of Jito Labs, an infrastructure provider that mitigates the impact of maximum extractable value (MEV) on Solana ? specifically spam and wasted block space. He and the gang discuss how the Jito airdrop this month helped rejuvenate Solana; how Jito differs from Flashbots, its counterpart on Ethereum; Solana?s potential scalability; and how Solana believers have been vindicated by the developments of the last few months.  Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show highlights:  Why Jito is a crucial development in the Solana ecosystem and its potential impact on network performance What sets Jito apart from its counterpart on Ethereum, Flashbots, in terms of functionality and benefits Whether Solana's speed uniquely influences Jito's effectiveness compared to Flashbots Lucas' explanation of maximum extractable value (MEV) and how it operates within the Solana network, providing insight into its complexities and advantages Whether Solana's infrastructure could sustain block production if the AWS integration encounters disruptions How the Jito airdrop may have rejuvenated the Solana network, potentially marking an end to its "ice age" What recent surges in on-chain activity in Solana indicate about the network's health and user engagement Where MEV fees in Solana are directed and who benefits from this value accrual within the ecosystem Whether Solana dapps are evolving their architectures to mitigate MEV opportunities and enhance network security How Tarun envisions the design of Solana's fee market for optimal efficiency and fairness Whether Solana has the inherent capacity for infinite scalability and what potential bottlenecks might impede this growth Hosts Haseeb Qureshi, managing partner at Dragonfly  Tom Schmidt, general partner at Dragonfly  Tarun Chitra, managing partner at Robot Ventures Guest: Lucas Bruder, CEO of Jito Labs Links MEV: Previous coverage of Unchained on MEV:  Unchained: Why Is Ethereum Trying to Maximize Value From Users? Two Sides Debate The Chopping Block: Why the Once-Taboo MEV Is Now a Core Part of Ethereum CoinDesk: What Is MEV, aka Maximal Extractable Value? Jito:  Unchained: Jito, Solana-Based Liquid Staking Protocol, Airdrops Governance Token Solana Validator 101: Transaction Processing Jito Block Engine Expands Access to All Solana MEV Traders Solana?s recent activity and bull run: Unchained:  Anatoly Yakovenko on Solana?s Astounding Recovery and Its Future Plans Solana Takes the Lead in Daily Stablecoin Transfer Volume Solana Surges to $84, Flips Ethereum in Weekly DEX Volume Paxos Bringing Stablecoin Issuance on Solana, Diversifying Beyond Ethereum Solana?s model: Solana Proof of History: How Solana brings time to crypto Learn more about your ad choices. Visit megaphone.fm/adchoices
2023-12-29
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Arthur Hayes on Why Bitcoin Is Money and ETH Is a Shitcoin He Loves - Ep. 587

Take the Unchained 2023 survey! Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. As 2023 nears its end, the crypto community is abuzz with speculation: will the relentless crypto winter give way in 2024? Crypto OG Arthur Hayes is confident that crypto is on an upswing. According to Hayes, these market cycles are historically recurrent, indicating a potential bull run in the near future.  In this episode, Hayes offers his insights on a range of compelling topics, from what he believes will be a resurgence of central bank money printing between 2024 and 2027 to the effect spot Bitcoin ETFs will have on crypto markets.  He also shares his views on the post-FTX blockchain landscape, the dynamics of Ethereum and memecoins, and why he thinks Tether won?t last.  Show highlights: Why Arthur believes that central banks across the globe might resort to printing money again between 2024 and 2027 Why he's anticipating a bull run in the crypto market within the next year Whether the financial system established post-World War II is on the verge of a breakdown What Arthur recommends investors should do in the event of a spot Bitcoin ETF launch Why he is confident that the launch of a Bitcoin ETF won't immediately lead to a massive surge in prices How, according to Arthur, the collapse of FTX actually validated the resilience of the blockchain ecosystem Whether the DCG crisis is likely to have a far-reaching impact on the crypto industry Why Arthur maintains a bullish stance on ETH and the Ethereum ecosystem, despite labeling it a ?shitcoin? Whether he sees the use of the Bitcoin blockchain for trading memecoins (BRC-20s) as problematic Why Arthur thinks Tether's dominance will be challenged with the entry of major U.S. banks into the stablecoin market Why he firmly believes that AI systems will favor Bitcoin over traditional forms of money Why, in Arthur's view, China may not aim to become the issuer of the global reserve currency The investment strategy of Arthur?s family office, Maelstrom Thank you to our sponsors! Arbitrum Foundation Uniswap Popcorn Network Guest Arthur Hayes, CIO of Maelstrom. Previous appearances on Unchained: Arthur Hayes, Former Ethereum Skeptic, on Why the Merge Makes Him Bullish on ETH  Arthur Hayes of Bitmex on Why Countries Will Turn to Digital The Chopping Block: Arthur Hayes on Why Crypto Needs to Ditch the Banks How Crypto and Blockchain Technology Could Change Financial Services Links Macroeconomics CoinDesk: The Relationship Between Bitcoin and Interest Rates Is Breaking Down: Arthur Hayes Bad Gurl by Arthur Hayes The Periphery by Arthur Hayes Arthur Hayes? tweet: ?the U.S. banking crisis is back? Bitcoin ETFs and markets Forbes? Billy Bambrough on Arthur Hayes? hot ETF take - ?If ETFs managed by TradFi asset managers are too successful, they will completely destroy Bitcoin.? Blockworks: Institutional custody of bitcoin could kill it, cautions Hayes Arthur?s tweet on cash or in-kind Bitcoin ETFs Unchained: Why the SEC May Want Cash Creation of Spot Bitcoin ETFs Arthur?s meme on BlackRock  SBF and FTX White Boy by Arthur Hayes White Man by Arthur Hayes New York Magazine: The Original King of Crypto Is Back Arthur Hayes rubbed success in the Feds? face and got busted. Now he?s returning to a shell-shocked industry. CZ and Binance Panda Power by Arthur Hayes Unchained:  How Binance Will Open All Its Activity to the U.S. Government Binance to Pay $4.3B Penalty to Resolve U.S. DOJ Criminal Investigation; Changpeng Zhao Resigns, Pleads Guilty to Money Laundering Charges For more detail and links visit Unchained! Learn more about your ad choices. Visit megaphone.fm/adchoices
2023-12-29
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2023 Crypto Year in Review: Is a Bull Market Around the Corner?- Ep. 586

Take the Unchained 2023 survey! Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. In 2023, the crypto industry began with post-FTX fallout such as Operation Chokepoint 2.0, the failures of banks serving the crypto industry and the SEC's Wells Notice against Coinbase. Meanwhile, Bitcoin Ordinals brought innovation to the Bitcoin network, while Ethereum's Shanghai upgrade introduced new functionalities.  The criminal trial of Sam Bankman-Fried was the dramatic climax of the year, as lawmakers? concerns about crypto being used for terrorist financing brought crypto into the mainstream conversation. The year ended with Binance's substantial settlement with the U.S. government and spot Bitcoin ETFs in the horizon, ushering in what looks like the beginnings of another bull market.  Thank you to our sponsors! Arbitrum Foundation Uniswap Popcorn Network Links DCG Unchained: Gemini vs. DCG Is Heating Up. Could Gemini Force Genesis Into Bankruptcy? Reuters: Crypto lending unit of Genesis files for U.S. bankruptcy CELSIUS Unchained:  7 Revelations From Celsius? Examiner Report Why the Celsius Examiner Report Shows 'a Complete Disaster in Almost Every Way' Operation Chokepoint 2.0 WSJ: Regulator Orders Crypto Firm Paxos to Stop Issuing Binance Stablecoin The Verge: Kraken pays a $30 million fine and shuts down crypto staking in the US Unchained:  Coinbase?s Top Lawyer Calls SEC Wells Notice a ?Massive Overreach? Just a Coincidence? Coinbase and Polygon Lawyers See Bad Omens in SEC Crackdown Bitcoin Ordinals Unchained:  Bitcoin Ordinal NFTs Are Hot and Getting Hotter. What's the Hype About? Bitcoin?s Daily Transaction Fees Surpass Ethereum?s for First Time Since 2020 Signature, Silvergate, SVB, USDC depeg Investopedia: What Happened to Silicon Valley Bank? CNBC: Stablecoin USDC breaks dollar peg after firm reveals it has $3.3 billion in SVB exposure Unchained:  The Chopping Block: Was Crypto Just Debanked? Why Caitlin Long and Meltem Demirors Are Worried About Crypto?s Future in the US - Cryptocurrency SEC Issues Coinbase a Wells Notice Rep. Emmer on Why He Believes Gary Gensler Is a ?Bad-Faith Regulator? Reuters: Signature Bank failure due to 'poor management,' US FDIC report says The Verge: Silvergate has collapsed Ethereum?s Shanghai upgrade Unchained:   Shapella in the Rearview: After Major Upgrade, What?s Next for Ethereum?  Staked Ethereum Withdrawals Enabled As Shanghai Upgrade Goes Live CoinDesk: What?s Next After the Ethereum Shanghai Upgrade Known as Shapella PROMETHEUM Unchained:  Prometheum and Paradigm in Debate: Can the Status Quo Work for Crypto These 2 Crypto Trading Platforms Agree With SEC Chair Gary Gensler Crypto Community Unearths Questionable History of SEC-Aligned Prometheum - Cryptocurrency Regulation SEC vs. Binance and Coinbase Unchained:  SEC Files 13 Charges Against Binance Including the Mishandling of Funds, Sale of Unregistered Securities SEC Sues Coinbase for Breaking Securities Laws SEC Sues Binance, Coinbase: ?This Is Not the End of Crypto in the United States? RIPPLE Unchained:  New Order in SEC vs. Ripple Over XRP Is a Win for Crypto: What Happens Now? The Chopping Block: Jake Chervinsky on How the SEC Has Lost Credibility CoinDesk: Ripple, Crypto Industry Score Partial Win in SEC Court Fight Over XRP Visit our site to see more details and links! Learn more about your ad choices. Visit megaphone.fm/adchoices
2023-12-26
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Crypto Points Systems Are a 100x Opportunity, But Founders, Be Wary - Ep. 585

Take the Unchained 2023 survey! Over the past year, the crypto industry has seen the rise of a new trend: the adoption of points systems.  Li Jin, cofounder of Variant Fund, says that while points systems have long been a staple in the Web2 domain, their integration into the crypto ecosystem could have pitfalls.  She covers how these points are currently being leveraged within crypto applications in the hopes of driving user engagement and retention, why they?re taking off now, and why they?re off-chain. She also points out that, if implemented poorly, they could engender disloyalty instead of leading to sustainable communities, and urges founders to be thoughtful about the design of these systems, especially about how points translate to economic value. Show highlights: What points are in crypto and their role in rewarding user behavior?? Examples of popular projects that have successfully implemented points systems?? Why points mechanisms are gaining traction in crypto, offering benefits of tokens without the downsides?? Whether points, which are currently off-chain, will eventually move on-chain, and the implications for users and founders?? How points can incentivize inorganic behavior, drawing from Li Jin's experience in the Web2 sector?? The potential pitfalls of points systems and how they can sometimes create more disloyalty than loyalty?? Identifying which crypto projects are best suited for using points, and the importance of product-market fit?? Why keeping the economic value of points ambiguous can enhance user engagement and loyalty?? Whether points are being used by projects to navigate around regulatory challenges?? Future developments in points systems, including the potential of bringing points on-chain for a universal loyalty system?? Thank you to our sponsors! Arbitrum Foundation Uniswap Popcorn Network Phemex Guest Li Jin, cofounder and General Partner at Variant Fund Previous appearances on Unchained:  Will Every Piece of Media Enter the Internet as an NFT? Variant Fund Says Yes The Chopping Block: Two on Two Debate: NFT Royalty Throwdown! Links Points Li?s Newsletter: Lessons on Points Programs for Crypto Apps Li?s comments on the topic:  Tweet 1 on points entering ?the crypto app zeitgeist? Tweet 2 on points discounting the cost of the product Tweet 3 on points and product-market-fit Tweet 4 on how points can ?distort activity? CoinDesk:  Crypto Points: Off-Chain Derivatives That Everyone is Talking About  Web3 Loyalty Programs Are a Trojan Horse for Good Crypto Policy DL News: Why DeFi protocols love to offer ?points? before airdrops  Projects using points Rainbow wallet Friend.tech Blast Blackbirds Marginfi Parcl Learn more about your ad choices. Visit megaphone.fm/adchoices
2023-12-22
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Why Swan CEO Cory Klippsten Is Still Convinced That Bitcoin Is Headed to $1 Million - Ep. 584

Take the Unchained 2023 survey! Swan founder and CEO Cory Klippsten is all-in on Bitcoin. Not only does he believe that Bitcoin is poised to reach $1 million by 2030, he also thinks most alt-coins add little to no value and will eventually all go to zero. Accordingly, his company is a massive bet on the future of Bitcoin, from educating people about the world?s first crypto and convincing them to eventually self-custody, to making private equity investments in the Bitcoin ecosystem, to eventually planning to launch the first US Bitcoin-only trust company to create a safer environment for investors.  Here he talks to Unchained about his crypto journey, the likely impact of spot Bitcoin ETFs on crypto adoption and prices, his extreme skepticism about Bitcoin Ordinals, when he first knew Sam Bankman-Fried was a fraud and why he thinks that crypto VCs have done a ?massive disservice? to the world. Show highlights: What Swan Bitcoin is, its origin story and the future trajectory envisioned by Cory Cory's journey into crypto, his journalism background and the shift to a Bitcoin-centric focus How Cory is navigating discussions with hedge funds, family offices, and insurance companies in anticipation of a Bitcoin spot ETF Swan?s Bitcoin-only investment strategies How lending and borrowing with Bitcoin is evolving Cory's private equity investments within the Bitcoin ecosystem The rationale behind Swan launching the first US Bitcoin-only trust company Swan's stance on financial privacy, especially after warning customers that banks might close their accounts if they used mixers Cory's reasoning for advising against "trading" the Bitcoin spot ETF launch Predictions on when BTC might reach new all-time highs Cory's perspective on Bitcoin Ordinals and their impact on the Bitcoin mempool The concerns about decreasing block rewards and the future security of Bitcoin Why Cory was convinced of FTX's fraudulent nature after reviewing the balance sheet that led to SBF's downfall Why he thinks that VCs have done a "massive disservice? to the world Thank you to our sponsors! Uniswap Popcorn Network Arbitrum Foundation Guest: Cory Klippsten, CEO of Swan Bitcoin Links: Swan Bitcoin: Fortune: Swan deployed more than $200 million in 2023 building out institutional offerings such as Bitcoin-backed lending Protos: Some Swan Bitcoin customers lose banking access CoinDesk: BitGo, Swan to Form Bitcoin-Only Trust Company WSJ: Crypto Custodian Prime Trust Files for Bankruptcy Protection Decrypt: Swan, Coinbits Disclose Prime Trust Ties as Fallout Continues Cointelegraph: Swan Bitcoin to terminate customer accounts that use crypto-mixing services Bitcoin ETFs: Previous coverage on spot Bitcoin ETFs: How Much Money Will Flow Into Bitcoin ETFs? Here?s One Projection Why a Spot Bitcoin ETF Will Probably Launch No Later Than January 10 Why It Looks Like BlackRock Could Win America?s First Spot Bitcoin ETF The Chopping Block: Are We Back? The ?Low IQ? Response to the Potential Spot Bitcoin ETF Unchained:  Why the SEC May Want Cash Creation of Spot Bitcoin ETFs Bitcoin ETFs Explained: What Are They & How Do They Work? BlackRock Updates Bitcoin ETF Filing to Make Access Easier for Wall Street Banks  FTX CoinDesk: Divisions in Sam Bankman-Fried?s Crypto Empire Blur on His Trading Titan Alameda?s Balance Sheet Ordinals: Cory?s tweet on Ordinals  Unchained: Bitcoin Ordinals-Related Token ORDI Passes $1 Billion in Market Value Bitcoin Mempool Reaches Record Levels of Congestion Bitcoin Ordinal NFTs Are Hot and Getting Hotter. What?s the Hype About? Bitcoin?s BRC-20 Mania: Is It Sustainable? Why All 10,000 OnChainMonkey NFTs Will Move From Ethereum to Bitcoin Learn more: What Are BRC-20 Tokens?  What Are ORC-20 Tokens?  How to Create a Bitcoin Ordinal Learn more about your ad choices. Visit megaphone.fm/adchoices
2023-12-19
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The Chopping Block: Crypto?s Best and Worst in 2023 - Ep. 583

Welcome to The Chopping Block ? where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest news. This week, after an incredibly eventful year for crypto, The Chopping Block crew makes its picks for the best and worst of 2023, including its biggest winners and losers, biggest surprises, best memes, best or worst pivots, biggest flops, best comeback stories, favorite podcast guests and predictions for 2024. Hear why some in the gang consider Solana to be the year?s biggest winner, Circle the biggest loser, MicroStrategy the best and worst pivot, Coinbase the best comeback and a renewed boom in crypto lending one of the top predictions for 2024.  Hosts Haseeb Qureshi, managing partner at Dragonfly  Robert Leshner, founder of Compound Tom Schmidt, general partner at Dragonfly  Tarun Chitra, managing partner at Robot Ventures Disclosures Links Surprises:  The Chopping Block: Was Crypto Just Debanked? What Is Depegging in Crypto and Why Does It Occur? Flops: The Chopping Block: Why the Azuki Elementals Drop Was a Big Flop The Chopping Block: Michael Lewis Swindled, SBF?s Effective Altruism Ruse, Ethereum Protocol Enshrinement The Block: Worldcoin unveils integrations with Minecraft, Reddit, Telegram and Shopify CoinDesk: Future of Solana's Hyped Saga Phone Is 'Under Internal Discussion' as Sales Figures Fail to Wow ApeCoin DAO Governance Winners: Unchained:  SEC vs Ripple: Judge Rules XRP Sold on Exchanges Is Not a Security Anatoly Yakovenko on Solana?s Astounding Recovery and Its Future Plans  Bitcoin?s Daily Transaction Fees Surpass Ethereum?s for First Time Since 2020 What Are BRC-20 Tokens? A Brief Introduction The Chopping Block: Wizards vs. Laser Eyes for the Future of Bitcoin Memes: Dexerto: What is TikTok?s viral NPC fetish? New streaming kink explained David Beckham?s memes Favorite guests: The Chopping Block: Top White Hat Hacker Samczsun Discusses the State of Crypto Security The Chopping Block: How This DeFi Hack Negotiator Gets Hackers to Return Stolen Money The Chopping Block: Why Vivek Ramaswamy Wants Less Crypto Regulation The Chopping Block: Coinbase?s Paul Grewal on Why the SEC Is Going After Crypto So Aggressively Others Unchained:  Ledger Library Compromised, Causing Confusion and Panic in Crypto Community Vitalik Buterin Supports Integrating Zero-Knowledge Ethereum Virtual Machines Into Main Ethereum Chain Learn more about your ad choices. Visit megaphone.fm/adchoices
2023-12-15
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Why the SEC May Want Cash Creation of Spot Bitcoin ETFs - Ep. 582

Take the Unchained 2023 survey! Unchained is doing its annual survey. Let us know what we?re doing well, how we can improve, what you?d like to see more of, and generally, how we can serve you better. The survey also helps us find sponsors whose products and services would appeal to you. Plus, participating gives you an opportunity to win Unchained merch! Five randomly selected respondents will receive one free Unchained t-shirt or mug ? your choice. Click here to participate. Thanks so much! The long-awaited approval of a spot bitcoin ETF looks to be mere weeks away, and Bloomberg ETF analyst James Seyffart joins Unchained to discuss the final issues and considerations, especially the battle over whether the new funds will feature in-kind vs. cash creation and redemptions, which appears to be one of the last main sticking points in negotiations between the SEC and fund companies. He also discusses the specific impact of an ETF approval on Grayscale, which runs the $26.6 billion Grayscale Bitcoin Trust, and why he thinks the SEC has thrown in the towel on trying to classify Ethereum as a security.  Show highlights: Why James views the multitude of potential issuers meeting with the SEC as a positive sign for the future of ETFs When James anticipates the ETFs will actually be listed on exchanges, which differs from their approval dates The crucial differences between in-kind versus cash creation and redemptions in ETFs and their impact on market dynamics How the choice of in-kind or cash creation and redemptions influences the overall cost structure of these financial products Whether the current actions of ETF issuers suggest a "bending the knee" approach to the SEC's preference for cash creations and redemptions How the selected ETF model will specifically impact Grayscale and the future of its GBTC offering The potential strategies behind BlackRock's private trust, especially in terms of integrating its Bitcoin holdings into its prospective ETF Why James holds a more cautious outlook for the approval of an Ethereum spot ETF compared to his confidence in Bitcoin ETFs Thank you to our sponsors! Arbitrum Foundation Popcorn Network Uniswap Guest James Seyffart, Research analyst at Bloomberg Intelligence Previous appearances on Unchained: Why It Looks Like BlackRock Could Win America?s First Spot Bitcoin ETF Why a Spot Bitcoin ETF Will Probably Launch No Later Than January 10 Links Previous coverage on spot Bitcoin ETFs: How Much Money Will Flow Into Bitcoin ETFs? Here?s One Projection Why a Spot Bitcoin ETF Will Probably Launch No Later Than January 10 Why It Looks Like BlackRock Could Win America?s First Spot Bitcoin ETF The Chopping Block: Are We Back? The ?Low IQ? Response to the Potential Spot Bitcoin ETF Unchained:  Bitcoin ETFs Explained: What Are They & How Do They Work? BlackRock Updates Bitcoin ETF Filing to Make Access Easier for Wall Street Banks  Understanding the ETF creation and redemption mechanism Nate Geraci?s tweet on in-kind/cash James comments ?the people want in-kind? James: ?I think everyone is gonna have to bend the knee to cash creates and redeems.? Eric Balchunas suggests the SEC is only letting cash-create ETFs launch initially Learn more about your ad choices. Visit megaphone.fm/adchoices
2023-12-15
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How Binance Will Open All Its Activity to the U.S. Government - Ep. 581

Unchained is running its annual survey to better serve you. Please answer our annual survey here. The record $4.3 billion settlement reached between Binance and the U.S. government over charges of money laundering and sanctions violations calls for the world's largest crypto exchange to maintain an independent compliance monitor for the next five years. Michael Dawson, a partner at WilmerHale, and Dorothy DeWitt, founder and CEO of Tolt Strategies, a former director at the CFTC and former general counsel at Coinbase, dissect the intricacies of this arrangement, delving into the roles and responsibilities of the compliance monitor, the potential impact on Binance's operations and the broader implications for the crypto industry. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Show highlights: what exactly is a compliance monitor, and why it's essential in the Binance settlement  which regulatory agencies the monitors report to and their significance why the DOJ insisted on including a compliance monitor in its settlement with Binance how Binance?s compliance monitor is expected to create a ?ripple effect across the industry,? according to Michael why Binance, despite being a non-U.S. entity, is subject to a U.S.-appointed monitor Dorothy's perspective on why more monitorships might be appointed in the crypto industry going forward how much the monitorship will cost Binance and the factors influencing their choice of monitor whether the government will be able to discover other crimes with all this new information, which will be used by other agencies such as the IRS and the FBI who might be appointed as the compliance monitor for Binance and why Michael favors Patrick McHenry what constitutes the SAR lookback and AML program consultancy what could happen when the government gets to look at all past transactions what happens if the monitor discovers any wrongdoing within Binance whether the monitorship is likely to impact Binance's business operations advice from Dorothy and Michael for Binance's new CEO on navigating these challenges why predicting the future of Changpeng Zhao, Binance's ex-CEO, is complex, according to Dorothy Thank you to our sponsors! LayerZero Popcorn Network Arbitrum Foundation Guests: Michael Dawson, partner, Financial Institutions Group at WilmerHale Dorothy DeWitt, founder and CEO of Tolt Strategies and former Director of the Division of Market Oversight at the CFTC Links Settlement DOJ Settlement Text FINCEN Settlement Text CFTC Settlement Text OFAC Settlement Text WSJ: Binance Penalties Include a Number of Crypto Industry Firsts: The Treasury Department?s FinCEN is imposing its first-ever monitorship on the cryptocurrency exchange CoinDesk: Binance's Future and Other Questions Post-Settlement  Unchained: Binance to Pay $4.3B Penalty to Resolve U.S. DOJ Criminal Investigation; Changpeng Zhao Resigns, Pleads Guilty to Money Laundering Charges Law360: Binance's Compliance Chief Is Optimistic About Monitorship The CFTC?s guidance on monitorships CFTC Releases Enforcement Advisory on Penalties, Monitors and Admissions Other monitors at crypto companies  Coinbase (independent monitor): Press Release- January 3, 2023: Superintendent Adrienne A. Harris Announces $100 Million Settlement with Coinbase, Inc. after DFS Investigation Finds Significant Failings in the Company?s Compliance Program | Department of Financial Services Robinhood Crypto (independent compliance consultant): Press Release- August 2, 2022: DFS Superintendent Harris Announces $30 Million Penalty on Robinhood Crypto for Significant Anti-Money Laundering, Cybersecurity & Consumer Protection Violations | Department of Financial Services (ny.gov) Learn more about your ad choices. Visit megaphone.fm/adchoices
2023-12-12
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Market Forecaster Raoul Pal Says There?s a Good Chance Bitcoin Will Hit $100K-$200K in 2024 - Ep. 580

Unchained is running its annual survey to better serve you. Please answer our annual survey here. The likely impending approval of spot bitcoin ETFs has already sparked a major rally in the price of bitcoin and other cryptocurrencies, but will the bull run continue once the funds are up and running? On this episode of Unchained, the founder and CEO of Global Macro Investor, Raoul Pal, describes why a spot bitcoin ETF is such a significant development, likening it to a free trade agreement with the traditional financial world. He also discusses what effect a spot Ether ETF is likely to have on Ether prices, the relative merits of Ether vs. Solana, the usefulness of BRC-20 tokens and why 2024 is likely to be a very good year for crypto and the economy as a whole.  Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Show highlights: How Pal sees crypto as creating a new parallel financial system that a spot Bitcoin ETF will soon offer entrée to  what he believes will be the key catalysts for the upcoming bull market in crypto why Raoul is predicting a "very strong 2024" for the crypto market, including his outlook for the price of Bitcoin how he thinks investors and institutions will respond to the potential launch of an ETH spot ETF why Raoul is bullish on both Ethereum and Solana what developments in the Solana ecosystem are making Raoul particularly optimistic which network Raoul expects to emerge as the winner in the blockchain space why he views BRC-20s and Ordinals inscriptions as positive developments for Bitcoin Thank you to our sponsors! Arbitrum Foundation Phemex Popcorn Network Guest Raoul Pal, cofounder and CEO of Real Vision Links Bitcoin ETF and markets: Unchained:  Bitcoin Surges Past $40,000 for First Time Since April 2022 Signs Increasingly Point to January Approval of Spot Bitcoin ETF Applications 77% of Financial Advisors Are Waiting for a Spot Bitcoin ETF to Offer Their Clients How Much Money Will Flow Into Bitcoin ETFs? Here?s One Projection Why a Spot Bitcoin ETF Will Probably Launch No Later Than January 10 Why It Looks Like BlackRock Could Win America?s First Spot Bitcoin ETF The Chopping Block: Are We Back? The ?Low IQ? Response to the Potential Spot Bitcoin ETF Learn more: Bitcoin ETFs Explained: What Are They & How Do They Work? Ordinals and BRC-20s Unchained:  Bitcoin Ordinals-Related Token ORDI Passes $1 Billion in Market Value Bitcoin Mempool Reaches Record Levels of Congestion Bitcoin Ordinal NFTs Are Hot and Getting Hotter. What's the Hype About? Bitcoin?s BRC-20 Mania: Is It Sustainable? Why All 10,000 OnChainMonkey NFTs Will Move From Ethereum to Bitcoin Learn more:  What Are BRC-20 Tokens?  What Are ORC-20 Tokens?  How to Create a Bitcoin Ordinal Solana vs. ETH Unchained: Anatoly Yakovenko on Solana?s Astounding Recovery and Its Future Plans Learn more about your ad choices. Visit megaphone.fm/adchoices
2023-12-08
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The Chopping Block: Top White Hat Hacker Samczsun Discusses the State of Crypto Security - Ep. 579

Welcome to The Chopping Block ? where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest news. This week, they are joined by Samczsun, an anonymous security researcher at Paradigm, who delves into the intricacies of crypto security, ethical hacking and the shifting landscape of smart contract vulnerabilities. He also discusses his strong feelings about the ?Code Is Law? philosophy and gives tips on how people in crypto can best protect their online security.  Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show highlights:  what led Sam to a career in crypto security and his current role at Paradigm how Sam uncovered one of crypto's most legendary vulnerabilities why security experts like Sam choose the path of white hat hackers over black hats The craziness of the KyberSwap hacker's proposal parallels that Robert draws between this case and Avi Eisenberg's Mango Markets exploit what advice Sam has for the KyberSwap hacker  whether Sam, as a security expert, trusts storing his money on-chain how the Platypus hack ruling by a French judge challenges the 'Code Is Law' philosophy what the Security Alliance aims to achieve and its impact on the industry how Sam suggests individuals should practice personal crypto security, including the importance of using password managers and hardware wallets, and avoiding SMS two-factor authentication Hosts Haseeb Qureshi, managing partner at Dragonfly  Robert Leshner, founder of Compound and Superstate Tom Schmidt, general partner at Dragonfly  Disclosures Guest:  Samczsun, security researcher at Paradigm Links Hacks Episode with Ogle: The Chopping Block: How This DeFi Hack Negotiator Gets Hackers to Return Stolen Money Unchained: $48 Million Drained from KyberSwap in Hack  Kyberswap hacker's latest message Cointelegraph:  KyberSwap hacker offers $4.6M bounty for return of $46M loot Platypus exploiters walk free after claiming to be ?ethical hackers? Code is law: The Chopping Block: ?Code Is Law? Is ?Obviously Not How Anything Works Ever? Unchained: The Mango Markets Attacker on Whether His 'Trade' Was Ethical or Not Thread by Gabriel Shapiro on the topic and Vy Le?s response Learn more about your ad choices. Visit megaphone.fm/adchoices
2023-12-07
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Anatoly Yakovenko on Solana?s Astounding Recovery and Its Future Plans - Ep. 578

Unchained is running its annual survey to better serve you. Please answer our annual survey here. Solana?s native token SOL has been one of the best-performing cryptos of the year, up more than 500% so far, but you wouldn?t have guessed that would be the case given how closely tied the blockchain was to FTX, which held huge amounts of SOL and was a big supporter of the platform. The blockchain also experienced numerous outages in 2022. But Anatoly Yakovenko, Solana?s co-founder, says the discipline imposed by FTX?s collapse, as well as improvements to the technology, have made Solana stronger.  On this episode of Unchained, Yakovenko talks about the impact of FTX?s collapse, his early impressions of Sam Bankman-Fried, the SEC?s designation of SOL as a security, how entrepreneurs are leaving the U.S. because of the regulatory risk, SOL?s share of the stablecoin market, and why he thinks it?s inevitable that finance will eventually run on something like Solana.  Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Show highlights: How the Solana ecosystem weathered the FTX crisis How FTX?s collapse was like ripping off a band-aid for Solana Anatoly's initial impression of SBF as a ?super genius? Why, despite SOL's strong 2023 performance, the Solana ecosystem hasn't experienced a corresponding growth in active developers What factors Anatoly believes contribute to the relatively low number of daily active wallet addresses in Solana How Solana addressed and rectified the outage issues that were so frequent in previous years Why Anatoly draws a parallel between Ethereum and Windows 95, and Solana and Windows 2000 Why he's not worried about Jump Crypto building a client for the blockchain The ongoing debate within Solana on open-source versus closed-source culture, and the potential for future shifts How the Solana Foundation is handling the SEC's classification of SOL as a security Whether there's a trend of developers and founders relocating from the United States in search of a more supportive ecosystem Why Solana holds a low market share of stablecoins across various blockchains, and the implications of this trend Why Anatoly considers trading volume a more critical metric than Total Value Locked (TVL) in assessing blockchain success How Web3 gaming has been flourishing on Solana Why Anatoly is confident that DeFi will find its rightful place on the Solana network The future plans for the Saga phone after its market challenges What Anatoly thinks is the number one focus for Solana for the near term Thank you to our sponsors! LayerZero Popcorn Network Arbitrum Foundation Guest: Anatoly Yakovenko, Co-founder of Solana Labs Previous appearance on Unchained: Will Solana Be the Execution Layer and Ethereum the Settlement Layer? Previous appearance on Unchained: Can Solana Seize Marketshare From Ethereum With Serum? Previous appearance on The Chopping Block: Anatoly Yakovenko on Why Solana Is Building the SAGA Links Unchained: Solana Saga review  Decrypt: Mad Lads NFTs Hit All-Time High as Backpack Taps FTX Lawyer for Exchange Launch  Op-ed by Anatoly on Fortune: Solana co-founder: 'To keep the next great American founder in America, Congress must regulate crypto. But first lawmakers should learn how it works' Learn more about your ad choices. Visit megaphone.fm/adchoices
2023-12-05
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The Chopping Block: How This DeFi Hack Negotiator Gets Hackers to Return Stolen Money Ep. 577

Welcome to The Chopping Block ? where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest news. This week, the gang sits down with Ogle Crypto, a veteran negotiator in crypto hacks, to discuss the recent KyberSwap exploit, which involved an almost $50 million loss across various chains.  Ogle shares how he initially became a negotiator, including his first case in which he tracked down a group of hackers from Hong Kong when they fled to Great Britain after stealing $24 million in funds. Ogle also shares his negotiation tactics, the typical profile of hackers he encounters today and his empathetic approach towards these often young and financially struggling individuals.  Then the group raises concerns around the hype and marketing strategies of Blast, a new Layer 2 on Ethereum offering ?native yields? that achieved $620 million of TVL in less than two weeks. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show highlights:  How KyberSwap's sophisticated security was breached, resulting in an almost $50 million loss across various blockchain networks. Why Tarun suspects the behind-the-scenes workings of an organized group, rather than a lone attacker, in the KyberSwap incident. The evolution of crypto hacks towards more systematic and professional negotiations with hackers. Ogle's journey into the world of crypto hack negotiations, highlighted by a fascinating case of pinpointing hackers who had fled Hong Kong. Ogle's strategic approach to negotiating with hackers, balancing empathy and tactical communication. Profiling the typical hackers in these scenarios, focusing on their youth, origins, and backgrounds. Ogle's perspective on why he often finds a sense of understanding towards these young, misguided hackers. Assessing the crypto industry's response to white hat hackers: Are they adequately rewarded for safeguarding the digital frontier? The curious surge of investments into Blast, Ethereum's new Layer 2 contender, amidst swirling concerns and skepticism. Robert's take on why the Blast phenomenon could signal a troubling trend, surpassing the chaos of 2017, paralleled by Tarun's analogy to a ?decentralized Herbalife.? Were Blast?s marketing tactics misleading or merely overly optimistic? Hosts Haseeb Qureshi, managing partner at Dragonfly  Robert Leshner, founder of Compound Tom Schmidt, general partner at Dragonfly  Tarun Chitra, managing partner at Robot Ventures Disclosures Guest Ogle Crypto, Crypto sleuth and negotiator Links Hacks Unchained: $48 Million Drained from KyberSwap in Hack  Kyberswap?s hacker latest message HackerNoon: Mark Cuban's Bane: How Iron Finance's $TITAN Crypto Crashed From $60 to $0  Cointelegraph: KyberSwap hacker offers $4.6M bounty for return of $46M loot Blast Unchained: Blast Surges to $300M TVL, Rapidly Gaining on Top Ethereum L2s Amid Concerns DefiLlama: Blast TVL Learn more about your ad choices. Visit megaphone.fm/adchoices
2023-12-01
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Why Presidential Candidate Vivek Ramaswamy Is So Pro-Crypto - Ep. 576

Unchained is running its annual survey to better serve you. Please answer our annual survey here. Vivek Ramaswamy is likely the biggest supporter of crypto among the current crop of presidential candidates. But his enthusiasm comes not from an inherent love of the technology or its principles themselves, but a dissatisfaction with what he calls the ?administrative state? that?s stifled innovation in a number of important industries, crypto among them.  On this episode of Unchained, Ramaswamy discusses his radical plan to slash the number of people working at federal agencies; his three-point crypto policy plan based on the freedom to code as a protected form of expression, the freedom of financial self-reliance, and the freedom to innovate free from regulatory overreach; why the current orientation of the U.S. government towards regulation of the crypto industry by enforcement isn?t helping anyone; his plans to stabilize the U.S. dollar by pegging it to a basket of commodities that could eventually include Bitcoin; why he?s so opposed to central bank digital currencies; and what industries he thinks could benefit from the use of blockchain technology. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Show highlights: how Vivek, who has a background in biotech, fell down the ?crypto rabbit hole? how the administrative branch of government doesn't work like it's supposed to, according to Vivek why he believes the government poses a threat to the future of crypto how he would respond to a situation in which the code of a smart contract is exploited how Vivek would prevent the use of crypto for illicit ends why he thinks that the current status quo in terms of crypto regulation is the ?worst of all worlds? Vivek?s plan to stabilize the U.S. dollar by pegging it to a basket of commodities, potentially including Bitcoin why he is so against the creation of a central bank digital currency in the U.S. how blockchain technology can be used to help the U.S. maintain its technological supremacy Thank you to our sponsors! Arbitrum Foundation Phemex Popcorn Network Guest Vivek Ramaswamy, 2024 U.S. Presidential Candidate Vivek on The Chopping Block: Why Vivek Ramaswamy Wants Less Crypto Regulation Links Original speech unveiling his crypto policy plan at the North American Blockchain Summit 2023 Unchained: GOP Candidate Vivek Ramaswamy Makes the Case for Reduced Crypto Regulation Bloomberg: Ramaswamy?s Crypto Deregulation Plan Is Scaring the Industry CoinDesk: Ramaswamy Shares Crypto Plan, Making Him the Only GOP Candidate Who Has One Learn more about your ad choices. Visit megaphone.fm/adchoices
2023-12-01
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