Show cover of 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.

Tracks

After the Bitcoin Halving, Will the Runes Protocol Live Up to the Hype? - Ep. 634
Listen to the episode on Apple Podcasts, Spotify, Pods, Fountain, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Not only will April 20 (or 19, depending on which part of the world you are) mark the fourth Bitcoin halving, but also the launch of a new primitive on Bitcoin called Runes Protocol.  Charlie Spears, co-founder of Blockspace Media, joined Unchained to talk about all things Runes, which is a messaging protocol that allows for the creation of fungible tokens on Bitcoin. It is designed to fix some of the issues with the BRC-20 token standard, such as inefficiency and proliferation of unspent transaction outputs. Charlie believes that the launch of Runes will increase demand for Bitcoin's blockspace and potentially lead to higher transaction fees. He also discusses the potential for Runes to interact with Bitcoin covenants and layer two solutions. Show highlights: What Runes is and why Charlie believes that it is the hottest thing since Ordinals The differences between Runes and BRC-20 fungible tokens  Runes’ unique features, with Charlie pointing out that this is “what the degens really want” Whether the Runes Protocol will create a “burst of demand” and have a positive impact on miners  Whether the launch of Runes will be successful in the long-term and how Bitcoin’s blockspace could become more attractive Whether Bitcoin L2s will help clear Bitcoin’s mempool, and why Charlie believes that they won’t reduce fee pressure on the base layer The coolest things that Runes Protocol will enable, according to Charlie How Taproot Assets and RGB differ from Runes and why they have not taken off Why Casey, the founder of Runes, will claim the first inscription with Uncommon Goods Thank you to our sponsors! iTrustCapital Polkadot Guest Charlie Spears, cofounder of Blockspace Media Links Recent coverage on Unchained of the Bitcoin halving: Arthur Hayes and Will Clemente on How This Bitcoin Halving Is Different Runes Unchained: What Are Runes? A Guide to the New Fungible Token Protocol on Bitcoin Bitcoin Runes Explainer by Charlie Spears BRC-20s and Ordinals: Unchained: What Are BRC-20 Tokens? A Brief Introduction Bitcoin’s BRC-20 Mania: Is It Sustainable? How to Create a Bitcoin Ordinal Bitcoin Ordinal NFTs Are Hot and Getting Hotter. What's the Hype About?  Halving Unchained:  Bitcoin Halving: What Is It & How Is It Determined? Here’s Why No One Agrees Exactly When The Bitcoin Halving Will Happen Bitcoin Miners Diversify Their Revenue Streams as Halving Nears Bitcoin L2s Unchained:  Stacks’ Muneeb Ali On Why Bitcoin Is Exciting Once Again Citrea: An Ethereum-Like Experience Built on Bitcoin? How Botanix Aims to Enable Smart Contracts on Bitcoin Learn more about your ad choices. Visit megaphone.fm/adchoices
42:31 19/04/2024
Arthur Hayes and Will Clemente on How This Bitcoin Halving Is Different - Ep. 633
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. The Bitcoin halving is just around the corner, expected to be on April 19 or April 20.  Arthur Hayes, CIO of Maelstrom, and Will Clemente, co-founder of Reflexivity Research discuss the rise in Bitcoin prices ahead of the halving, the impact of the approval of spot Bitcoin ETFs in the US, and the potential effects of the halving on the price trajectory post-halving. They also discuss the potential impact of a new class of investors on Bitcoin's price, volatility, and decentralization.  Learn more: Bitcoin Halving: What Is It & How Is It Determined? Moreover, they dive into the impact of the macroeconomics, geopolitical, and demographic conditions for the crypto asset industry, the potential for L2s on Bitcoin, and their price predictions for bitcoin by year-end.  Show highlights: How the approval of spot Bitcoin ETFs altered the price trajectory of BTC before the halving Whether the introduction of spot Bitcoin ETFs impacts Bitcoin's decentralization and price volatility Whether this cycle could be the "last cycle" or the "supercycle" Why Arthur predicts a 90% drawdown in the future and how they determine when the markets are nearing the top of the cycle The effect of high inflation, the election, and the termination of the bank term funding program on Bitcoin How artificial intelligence is expected to trigger a productivity boom, according to Will Why Will considers Coinbase to be mispriced Whether Bitcoin L2s have a future and if security budgets are a concern Their views on Bitcoin Ordinals and the Runes Protocol launch Why Will views DOGE as a purer commodity than ETH Arthur's rebuttal to claims that Ethena could follow in Terra/Luna’s footsteps Arthur's and Will’s Bitcoin price projections for the end of the year and the cycle Thank you to our sponsors! Polkadot Guest: Arthur Hayes, CIO of Maelstrom. Previous appearances on Unchained: Arthur Hayes on Why Bitcoin Is Money and ETH Is a Shitcoin He Loves 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 Will Clemente, Co-founder of Reflexivity Research Previous appearance on Unchained: Strong Hands Aren't Selling Bitcoin. So Who Is?  Links This cycle Naval’s tweet: “The narrative for this cycle is ‘this is the last cycle.’” Unchained:  Here’s Why No One Agrees Exactly When The Bitcoin Halving Will Happen Bitcoin Miners Diversify Their Revenue Streams as Halving Nears Heatwave by Arthur Hayes Dissecting Bitcoin's “4 Year Cycle,” guest post by Will Clemente on The Pomp Letter Bitcoin ETFs: Unchained:  The Best Spot Bitcoin ETFs for Different Types of Investors Who Is Buying Into Spot Bitcoin ETFs? We'll Soon Start to Get an Idea Bitcoin ETFs Explained: What Are They & How Do They Work?  Macroeconomic conditions CNBC: Consumer prices rose 3.5% from a year ago in March, more than expected FT: Investors lose hope of rapid US interest rate cuts this year Block size wars Bloomberg: The Block War Is Still a Sore Subject for ‘Bitcoin Jesus’  Bitcoin L2s Unchained: Stacks’ Muneeb Ali On Why Bitcoin Is Exciting Once Again  Runes Decrypt: Bitcoin Runes Launch at the Halving: Here's Everything You Need to Know Ethena Hayes’ tweet on Ethena Unchained:  ENA Surges 20% to New All-Time High as Ethena Rolls Out Reward Boosts Ethena’s USDe Grew to $2 Billion in 7 Weeks. Is It Safe? What Is Ethena's USDe Synethic Dollar? Learn more about your ad choices. Visit megaphone.fm/adchoices
67:57 16/04/2024
Gary Gensler’s Case Against Uniswap: Does the SEC Even Stand a Chance? - Ep. 632
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, the U.S. Securities and Exchange Commission (SEC) issued a Wells notice to Uniswap Labs, the team behind the prominent decentralized exchange (DEX) Uniswap, signaling a forthcoming enforcement action. Amanda Tuminelli, Chief Legal Officer at the DeFi Education Fund, joined Unchained to unpack what the case could mean for Uniswap and the overall decentralized finance (DeFi) industry. Amanda also talks about the DeFi Education Fund's recent lawsuit against the SEC over its airdrop policies and the industry’s need for a proactive counteroffensive approach in dealing with the SEC. Show highlights: Why Amanda thinks that the SEC is going to take a “kitchen sink approach” to their charges How the SEC could make a case that some of the tokens traded via Uniswap are securities What the next steps are in the case, with a lawsuit possibly coming soon Whether there’s an inconsistency between the SEC’s position and Judge Failla’s rejection of the motion to dismiss the Coinbase lawsuit How the different components of Uniswap make it hard to prove that Uniswap Labs is responsible for everything that happens on the protocol Why the DeFi Education Fund recently filed a lawsuit against the SEC Why Amanda believes in a “proactive counteroffensive strategy” with the SEC How Amanda would like legislation to be implemented in the U.S. Why the Tornado Cash developers are not liable for the actions of third parties such as North Korean hackers, according to Amanda Why Amanda thinks Uniswap will ultimately win against the SEC Thank you to our sponsors! iTrustCapital Polkadot Guest Amanda Tuminelli, Chief Legal Officer at DeFi Education Fund Previous appearance on Unchained: Is This the End of DeFi? Why the US Government Is Going After Tornado Cash You’ve got a friend in me: How amicus briefs are helping the crypto industry win over the courts, Amanda’s op-ed for Fortune Links Wells Notice Unchained: SEC Puts DeFi in Its Sights With Potential Uniswap Suit Unchained: UNI Drops 16% as SEC Targets Uniswap Labs Uniswap Blog Post on the Wells notice Marvin Ammori Thread on Wells notice Other cases: Fortune: Don't blame Uniswap for crypto scams, judge rules—and she's right The Block: Three crypto advocacy groups file amicus briefs in Tornado Cash developer Roman Storm's case The DeFiant: SEC Faces Lawsuit Seeking To Exempt Airdrops From Securities Classification Unchained: Court Rejects Coinbase's Bid to Dismiss SEC Charges Against It Social media commentary: Paul Grewal’s tweet on the potential inconsistencies with the Coinbase case. Gabriel Shapiro’s tweet on how Uniswap AMM smart contracts are not run by the Uniswap company Learn more about your ad choices. Visit megaphone.fm/adchoices
41:10 12/04/2024
The Chopping Block: The EVM Parallelization Dilemma, Solana's Network Congestion, and Avi Eisenberg's Legal Battle - Ep. 631
Welcome to The Chopping Block, where Haseeb Qureshi, Tom Schmidt, and Robert Leshner dive into the crypto universe's hottest topics. In this episode, we have the CEO/Co-Founder of Monad to explore the fascinating world of Monad and its ambitious endeavor to revolutionize EVM scalability through innovative parallelization techniques. The discussion shifts gears to the recent turmoil in Solana, dissecting the network's congestion issues and the broader implications for blockchain efficiency and scalability challenges. As the conversation deepens, we pivot to the gripping courtroom drama surrounding Avi Eisenberg, challenging the foundational crypto principle of 'code is law' and sparking debate over the legality of smart contract exploitation. Through these discussions, we untangle the complex interplay between technological innovation, regulatory frameworks, and the ethical considerations that define the crypto industry. Join us as we navigate the intricate dynamics shaping the future of blockchain technology, providing insightful analysis on the strategic developments and moral dilemmas at the heart of the digital age. Tune in for a compelling journey through the strategic and ethical battlegrounds that are forging the path forward for crypto and blockchain. 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 🔹 Dive into Monad’s efforts to revolutionize Ethereum with parallelization for higher transaction throughput and efficiency. 🔹 Discussion on Solana's congestion issue, its impact on network performance, and lessons for future scalability. 🔹 Examination of Avi Eisenberg's courtroom saga, challenging the boundaries between legal systems and blockchain autonomy. 🔹 Insight into the scalability challenges facing blockchains and the innovative solutions proposed by new projects. 🔹 Analyzing the ethical considerations in exploiting blockchain vulnerabilities and the responsibility of the crypto community. 🔹 Debate on the future of smart contracts in light of legal challenges and the evolving concept of 'code is law'. 🔹 Perspectives on the balance between innovation and user protection in the rapidly evolving landscape of decentralized finance. Special guest ⭐️ Keone Hon, Cofounder/CEO at Monad Labs  Hosts ⭐️Haseeb Qureshi, Managing Partner at Dragonfly  ⭐️Tom Schmidt, General Partner at Dragonfly  ⭐️Robert Leshner, Founder of Compound Disclosures Links The Mango Markets Attacker on Whether His 'Trade' Was Ethical or Not - Ep. 413 https://unchainedcrypto.com/podcast/the-mango-markets-attacker-on-whether-his-trade-was-ethical-or-not-ep-413/  Nickel Blowup Made a Lot of Trouble by Matt Levine https://www.bloomberg.com/opinion/articles/2022-03-14/nickel-blowup-made-a-lot-of-trouble  Learn more about your ad choices. Visit megaphone.fm/adchoices
64:57 11/04/2024
Polygon’s AggLayer Wants to Be a Hub for Ethereum Layer 2s. Can It Succeed? - Ep. 630
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. Polygon Labs CEO Marc Boiron and co-founder Brendan Farmer discussed everything about the AggLayer, a decentralized protocol built by Polygon that enables fast, secure cross-chain interactions and allows different chains to use the same native bridge. This allows users to seamlessly move assets across chains in the AggLayer ecosystem.  The AggLayer aims to unify blockspace so that it feels like a single chain, improving user experience. Boiron and Farmer also discussed the potential for Layer 2 solutions to scale Ethereum, the benefits of zero-knowledge technology, and the future of Polygon's proof-of-stake chain. Learn more: What Are Zero-Knowledge Proofs? Show highlights: Background of Brendan and Marc and how they joined Polygon A brief description of what Polygon is overall What the AggLayer is and how it aims to enable the best of monolithic and modular blockchains How Brendan differentiates the AggLayer from its competitors, such as Optimism's Superchain or Cosmos and why he believes that zk-technology is such a game changer How the interoperability experience gets better in such a system, according to Marc and Brendan, and what will become possible that's not now Which chains can use the AggLayer and how it works to improve security across chains The tradeoffs between the various types of zkEVM provers  How projects should decide their architecture and when it would make sense to tap the AggLayer Why projects should build on the AggLayer, including layer 1s, according to Marc How Layer 1s can still join the AggLayer and retain their own consensus and sovereignty  Why Polygon believes that zk-technology is the future of blockchain architecture Why the Polgyon zkEVM suffered an outage on March 30 Whether Layer 3s are needed to scale the Ethereum ecosystem Why Brendan believes that EigenLayer is not a good fit for rollups to use The transition of the Polygon PoS chain to become an Ethereum L2 using the AggLayer When EIP-4844/Dencun will go live on Polygon Thank you to our sponsors! Polkadot Guests: Marc Boiron, CEO of Polygon Labs Previous appearances on Unchained: Gary Gensler vs. Crypto: What Will the SEC Attack Next? The Chopping Block: The SEC Is Attacking Crypto – Will Gary Gensler Succeed? Brendan Farmer, co-founder of Polygon and co-lead of Polygon Zero Links AggLayer Polygon: Aggregated Blockchains: A New Thesis More technical Agglayer explainer CoinDesk:  Polygon Lands Astar Network as First User of New 'AggLayer’ Cosmos-Based Canto Blockchain Reverses Course on Polygon Layer-2 Plans, Unveils New Roadmap  Zaki on the comparisons with Cosmos zk-Technology Polygon: Upgrading Every EVM Chain to ZK: Introducing the Type 1 Prover The different types of ZK-EVMs by Vitalik Unchained: Why Zero-Knowledge Proofs Are Critical to Ethereum’s Future Polygon zkEVM Unchained: Polygon zkEVM Chain Goes Down for 10 Hours Blockworks: Polygon unpacks zkEVM outage and ‘emergency’ upgrade Layer 3s Unchained: Layer 3s Only Exist to Take Value Away From Ethereum: Polygon Labs CEO 0xCygaar on L3s and L2s Potuz on the benefit of L3s Learn more about your ad choices. Visit megaphone.fm/adchoices
71:03 09/04/2024
Ethena’s USDe Grew to $2 Billion in 7 Weeks. Is It Safe? - Ep. 629
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. This week, Ethena was in the spotlight after the airdrop of ENA, its new governance token. Ethena’s flagship product, the “synthetic dollar” USDe has amassed a $2 billion market cap in less than two months. Meanwhile, ENA’s market capitalization sits around $1.4 billion, with a fully diluted valuation of $15.5 billion.  In this episode, Guy Young, founder of Ethena Labs, discusses the risks associated with Ethena, including custodial risks and counterparty risks to exchanges. Young also talks about the use cases of Ethena's governance token, and discusses the potential for Ethena to be integrated with DeFi and CeFi. Show highlights: An introduction to what Ethena is and how USDe works Why the team doesn't want to refer to USDe as a stablecoin, and prefers to use the term "synthetic dollar" What the risks of USDe are, including custody, counterparties, and smart contracts Why Guy is "pleased" with how the ENA airdrop went through How ENA will be used and what its role will be in the governance of Ethena Why Ethena is now onboarding Bitcoin as collateral Why Guy thinks that there's been an "exaggeration" regarding the situation with Maker and Aave Guy's response to the critics who say that Ethena is essentially Terra/Luna Whether USDe would only work in a bull market How the Ethena insurance fund works and what it aims to accomplish What's next for Ethena after onboarding Bitcoin, with Solana potentially being the next asset Thank you to our sponsors! Polkadot iTrustCapital Guest Guy Young, founder of Ethena Labs.  Previous appearance on Unchained: How Ethena's USDe Challenges Traditional Stablecoin Models Links Ethena:  Unchained: What Is Ethena’s USDe Synethic Dollar? A Beginner’s Guide Decrypt: Ethena Just Launched to a $1.2 Billion Market Cap: Here’s What You Need to Know  Dust on Crust by Arthur Hayes Airdrop: Unchained: Airdrops From Wormhole and Ethena Labs Set to Inject $2.4 Billion Into Crypto Market This Week  Cointelegraph: Ethena will become highest revenue-generating crypto project — Delphi Labs CEO ENA Airdrop and Season 2: Sats Campaign  Learn more: What Is a Crypto Airdrop? A Beginner’s Guide MakerDAO/Aave controversy:  The Block: MakerDAO proposes allocating $600 million worth of DAI into USDe and sUSDe The Defiant: DeFi Projects Clash After MakerDAO Adds Ethena’s USDe As Collateral,  Comparisons to Terra’s UST:  The Defiant: Ethena Stablecoin’s 27% Yield is Triggering Terra-Induced PTSD Andre Cronje’s thoughts on USDe Cointelegraph: Ethena Labs founder clarifies USDe stability amid high yield worries Learn more about your ad choices. Visit megaphone.fm/adchoices
42:46 05/04/2024
The Chopping Block: The Dawn of the DeFi Civil War - Ethena, SBF, Blast & More - Ep. 628
Welcome to The Chopping Block, where Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner dive into the crypto universe's hottest topics. In this episode, amidst the crypto bull market's fervor, the boys dissect the launch of Ethena and its repercussions, including a potential DeFi civil war spurred by integration disputes between MakerDAO and AAVE. The conversation then shifts to the broader implications of SBF's sentencing, exploring how this landmark legal decision could reshape the landscape of trust and regulation within the crypto community. Moreover, we tackle the ethical and operational dilemmas faced by Blast in response to a significant hack, debating the merits and risks of potential rollbacks and the preservation of user funds against the backdrop of decentralized ideals. As we navigate through these complex issues, we shed light on the dynamics between decentralization, regulation, and innovation, offering nuanced perspectives on the challenges and opportunities that lie ahead for crypto. Tune in for an insightful journey through the strategic battlegrounds and evolutions that are defining the future of blockchain technology. 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 🔹 Analysis of Ethena's token launch impact on the crypto bull market and the crypto ecosystem 🔹Insight into the ongoing DeFi civil war triggered by MakerDAO's integration of Ethena, extending into Aave's strategic response and the broader DeFi ecosystem. 🔹Examination of SBF's sentencing, exploring its repercussions for crypto regulation, investor trust, and the legal landscape of the crypto industry. 🔹Evaluation of Blast's response to a significant security breach, debating the implications of potential rollbacks for DeFi security and user trust. 🔹Exploration of the balance between DeFi innovation, regulatory challenges, and the need for a stable legal framework to support crypto growth. 🔹Analysis of the crypto community's response to the DeFi civil war, SBF's sentencing, and security issues in decentralized finance platforms. 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 MakerDAO Proposal: “Morpho Spark DAI Vault Update” - https://forum.makerdao.com/t/morpho-spark-dai-vault-update-1-april-2024/24006  AAVE’s Proposal: “Risk Parameters for DAI Update” https://governance.aave.com/t/arfc-risk-parameters-for-dai-update/17211  Barbara Fried’s SBF sentencing submission https://storage.courtlistener.com/recap/gov.uscourts.nysd.590939/gov.uscourts.nysd.590939.419.0_1.pdf  Learn more about your ad choices. Visit megaphone.fm/adchoices
66:01 04/04/2024
The Real Reason Why the SEC Might Be Going After Ethereum - Ep. 627
On March 20, Fortune reported that the SEC was investigating the Ethereum Foundation and was looking for legal ways to label ETH as a security. Sam Enzer, partner at Cahill Gordon & Reindel, and Greg Strong, partner at DLx Law joined Laura to discuss everything about the investigation and its implications.   The guests speculate about the hidden motivations behind the SEC's investigation and discuss the likelihood of the approval of spot Ether ETFs. They also discuss the recent ruling in the SEC vs Coinbase case, where the judge dismissed claims that Coinbase's wallet was acting as an unregistered brokerage, but allowed the rest of the suit to proceed.  Lastly, they touch on the devastating impact on the crypto industry if the SEC were to win a case alleging ETH is a security and what they are looking out for in the next couple of weeks and months. Show highlights: Whether the investigation into the Ethereum Foundation is confirmed and why the SEC would do this Why Sam Enzer believes that the SEC would be "utterly wrong and ridiculous" in alleging ETH is a security Whether the number of people working on Ethereum could make the argument that it is decentralized How would the SEC justify that ETH is a security and whether the Foundation is running Ethereum’s managerial efforts Whether the SEC is looking for evidence to deny spot ether ETFs Why SEC chair Gary Gensler has changed his mind on many of his previous stances regarding crypto assets and whether he's acting in good faith The ongoing battle between the SEC and the CFTC and the need for Congress to regulate the industry What the possible outcome of this investigation could be, and whether we'll have a court case soon What the impact would be if ETH were classified a security Whether Prometheum could launch its platform offering custody of ETH as a security before an SEC designation Why Sam believes that the spot ETH ETFs will be denied on May 23rd How the SEC has already made up its mind even before gathering the facts, according to Sam Whether the recent judgment on Coinbase's case affects the potential case against the EF Whether Ethereum transactions are security transactions, and the difference between primary and secondary sales What to expect in terms of regulation and enforcement actions in the short term, given the number of cases at the moment Thank you to our sponsors! Polkadot Guests: Sam Enzer, Partner at Cahill Gordon & Reindel Previous appearances on Unchained: How 'a Criminal Choice' Got Sam Bankman-Fried a 25-Year Prison Sentence Why the SEC’s Case Against Coinbase Is So Significant for Crypto 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? Greg Strong, partner at DLx Law Previous appearance on Unchained: Why These Lawyers Say It's Over for SBF-But His Only Hail Mary Is to Testify Links Ethereum Foundation investigation: Fortune: SEC probing crypto companies in Ethereum investigation as hopes for ETF dim CoinDesk: Ethereum Foundation Faces Inquiry From a Government; Fortune Says SEC Investigating ETH Unchained: Ex-CFTC Commissioner Says ETH Can Be Both a Commodity and a Security Unchained: SEC Investigating Ethereum Foundation Regarding Proof-of-Stake Transition: Report  Ethereum’s security status Unchained: Ex-CFTC Commissioner Says ETH Can Be Both a Commodity and a Security Fortune: SEC’s Gensler seen telling hedge funds that Ethereum and Litecoin are ‘not securities’ in 2018 video CNBC:  SEC Chair Gary Gensler on potential Crypto regulation: It's within the securities laws SEC Chair Gary Gensler discusses potential crypto regulation and stablecoins For more details and links, visit Unchained Learn more about your ad choices. Visit megaphone.fm/adchoices
83:40 02/04/2024
How 'a Criminal Choice' Got Sam Bankman-Fried a 25-Year Prison Sentence - Ep. 626
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. Sam Bankman-Fried (SBF), FTX's co-founder, was sentenced to 25 years in prison and $11 billion in forfeiture for massive fraud, marking a historic moment in the crypto industry. Judge Lewis Kaplan emphasized the sentence's necessity due to Bankman-Fried's risk-oriented decision-making philosophy known as “expected value” and lack of remorse.  Sam Enzer joined Unchained to unpack the sentencing, discussing the fairness of the length, explaining how the $11 billion forfeiture would work and how it’s different from the bankruptcy proceedings. Additionally, Enzer provided insights into the kind of prison SBF would end up in and into the three-year supervised release SBF will face after his prison term. The conversation further delved into the broader impact of the sentencing on the crypto industry, suggesting it could signify the end of a dark chapter.  Show highlights: Whether the 25-year sentence is fair, according to Sam What the $11 billion in forfeiture means for SBF Whether the assets of SBF actually belong to the FTX estate Where SBF will likely go to prison and why Sam believes that SBF will not go to a maximum security prison When the clock starts ticking for the 25-year sentence Why SBF will not be eligible for parole and whether he could get "good time credit" What the defense will attempt in appealing the conviction What types of behavior could get SBF enough credit to appeal for a reduced sentence Why SBF will have to be supervised for three years after his release How SBF’s philosophy about “expected value,” was the theme of the crime, according to Judge Kaplan Whether the co-conspirators, such as Caroline Ellison, will be sentenced and serve in prison Why Sam says that the sentencing represented "the closing of a dark chapter" in crypto Thank you to our sponsors! iTrustCapital Polkadot Guest Sam Enzer, Partner at Cahill Gordon & Reindel Previous appearances on Unchained: Why the SEC’s Case Against Coinbase Is So Significant for Crypto 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 Unchained:  FTX Founder Sam Bankman-Fried Sentenced to 25 Years for Historic Fraud SBF’s Prison Sentencing Is Coming Up. How Many Years Will He Get? Is Prison Crypto’s New Glow-Up? Post-Incarceration Do Kwon and SBF Are Admired What to Expect from Sam Bankman-Fried’s Sentencing – and the Lessons We Should Learn Learn more about your ad choices. Visit megaphone.fm/adchoices
49:22 29/03/2024
The Chopping Block: Institutional Memecoin Craze, BASE vs. Ethereum, and Legal Clamps on Rogue Exchanges! - Ep. 625
Welcome to The Chopping Block, where Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner dive into the crypto universe's hottest topics. In this episode, we're tackling pressing questions: "Are Memecoins a Good Bet for Institutional Investors?" and "Can BASE Catalyze a Shift in Ethereum's DeFi Dominance?" Amidst Ethereum's upgrades, we explore the impact on scalability and the Layer 2 landscape. The legal entanglements of KuCoin with the DOJ and Beba's lawsuit against the SEC prompt a discussion on "What Do These Legal Challenges Mean for Crypto's Regulatory Future?" Additionally, we analyze the Blast Layer 2 security breach, questioning its implications for decentralized finance's security. Plus, a hypothetical scenario with Mr. Beast airdropping his own token leads us to ponder, "Can Celebrity-Endorsed Cryptocurrencies Create Real Value?" Join us as we dissect these pivotal developments, offering insights into the strategic maneuvers and policy shifts shaping crypto's future. Tune in for a compelling narrative on innovation and speculation in the rapidly evolving world of blockchain technology. 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 🔹 BASE's Growth and Challenges: Discussing BASE's explosive growth amidst Ethereum's upgrades, and how it's shaping the Layer 2 landscape amidst rising gas fees and scalability solutions. 🔹 Beba & DeFi Education Fund vs. SEC: Unpacking the lawsuit against the SEC for clearer airdrop regulations, highlighting its significance for future of airdrops. 🔹 KuCoin's Legal Battle: Insights into KuCoin's indictment by the DOJ, emphasizing the exchange's challenges and the broader implications for crypto regulations. 🔹 Blast L2 Security Incident: Analyzing the $62 million hack on Blast L2, exploring its impact on security perceptions and the debate over centralized control in DeFi. 🔹 Institutional Engagement with Memecoins: Exploring the surprising trend of reputable investment firms and family offices venturing into the volatile world of memecoins.  🔹 The Mr. Beast Coin Hypothesis: Exploring the theoretical impact of a Mr. Beast coin on the crypto economy, debating whether celebrity-backed coins can lead to genuine wealth creation. 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 BEBA LLC and DEFI EDUCATION FUND v. SEC - https://www.defieducationfund.org/_files/ugd/84ba66_3f7a8f2ca6614d7381122cb1beeed4a8.pdf  Prominent Global Cryptocurrency Exchange KuCoin And Two Of Its Founders Criminally Charged With Bank Secrecy Act And Unlicensed Money Transmission Offenses - https://www.justice.gov/usao-sdny/pr/prominent-global-cryptocurrency-exchange-kucoin-and-two-its-founders-criminally  Tweet “Learn about that touch and the intersection of AI and blockchain” - https://twitter.com/NEARProtocol/status/1772494712525426865  Learn more about your ad choices. Visit megaphone.fm/adchoices
56:19 28/03/2024
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
69:20 26/03/2024
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
39:43 22/03/2024
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
44:23 21/03/2024
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
79:11 19/03/2024
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
40:46 15/03/2024
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
59:09 14/03/2024
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
78:52 12/03/2024
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
76:49 09/03/2024
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
57:06 08/03/2024
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
67:29 05/03/2024
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
47:41 01/03/2024
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
60:49 27/02/2024
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
46:58 23/02/2024
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
65:02 22/02/2024
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
72:31 20/02/2024
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
44:42 16/02/2024
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
71:32 15/02/2024
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
93:57 13/02/2024
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
59:45 10/02/2024
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
35:23 09/02/2024

Similar podcasts