Unchained

Bitcoin and SOL are flirting with all time highs, Ethereum is lagging behind, and the next six months could define the trajectory of crypto markets. In this episode of Bits + Bips, James Seyffart, Alex Kruger, and guest David Grider unravel the key stories driving the space: What could a meeting between Trump and Coinbase’s Brian Armstrong mean for crypto policy? Could a new Treasury Secretary pick become the industry’s biggest ally? And is Ethereum’s underperformance hiding a major comeback? Plus, what crypto categories might be winners in the near future. Show highlights: What the potential meeting of Trump with Brian Armstrong shows Which pick for the Treasury Secretary position would be most positive for crypto Whether Michael Saylor has been driving the bitcoin market Whether rate cuts are coming in December and what impact it’s having on the markets How tariffs are not as bad as people think, but massive deportation is, according to Alex Why a potential Treasury General Account (TGA) rundown would be bullish for the markets Whether traders will be taking profits at the $90,000 bitcoin level How ETH has been underperforming and why David sees a silver lining How the lack of institutional interest in ETH has changed dramatically since the election Why David is so optimistic about restaking across different ecosystems What the outlook for crypto regulation looks like in the near future and what will benefit the industry Why James believes that we’ll have in-kind creations and redemptions for bitcoin ETFs under new SEC leadership What the future trajectory of bitcoin’s price is and the role of a strategic bitcoin reserve How different categories within crypto will perform in the markets Hosts: James Seyffart, Research Analyst at Bloomberg Intelligence Alex Kruger, Founder of Asgard Guest: David Grider, Partner at Finality Capital Links Trump and politics: Unchained: Donald Trump to Meet Coinbase CEO Brian Armstrong: Report Truth Social in Talks to Acquire Crypto Platform Bakkt Who Might Trump Pick for S.E.C. Chair? This Is Who Jay Clayton Hopes to See The Trump-Connected Brad Bondi Is a New SEC Chair Contender and Pro-Crypto A Degen Administration? Why the Crypto Czar May Be Allowed to Own Tokens Markets: Unchained: Spot Ether ETFs See Record $515 Million Weekly Inflows Solana dApps See Massive Fees Amid Memecoin Frenzy Bitcoin ETF options: Unchained: Bitcoin Hits New All Time High as IBIT’s First-Day Volume Nears $1.9 Billion Why Bitcoin ETF Options Could Unlock Massive Amounts of Capital for Crypto Timestamps: 00:00 Intro 02:31 What a Trump-Brian Armstrong meeting means for crypto 07:36 Who could be crypto’s biggest ally as Treasury Secretary 12:43 Is Michael Saylor driving bitcoin’s rally? 14:46 Whether December rate cuts will shake the markets 19:33 Tariffs vs. deportation: What’s worse for crypto? 26:03 Whether a Treasury General Account rundown would be bullish for markets 30:19 Whether traders will take profits at $90K Bitcoin 35:50 Why ether’s underperformance might hide a comeback 47:15 Whether institutional interest in ETH has turned around 51:49 Why David is bullish on restaking across ecosystems 54:09 What’s next for crypto regulation and industry growth 1:06:55 Whether new SEC leadership would greenlight better bitcoin ETF structures 1:09:10 Whether strategic Bitcoin reserves could drive its price higher 1:17:25 Which crypto categories could lead the next rally Learn more about your ad choices. Visit megaphone.fm/adchoices

Martin Köppelmann, co-founder of Gnosis, has proposed that Ethereum should have native rollups—a vision aimed at addressing scalability and decentralization. Köppelmann critiques the current state of layer 2 solutions, highlighting their limitations in fully inheriting Ethereum’s security and composability. He proposes a bold alternative: 128 Ethereum-native rollups designed to expand block space, strengthen alignment with Ethereum’s core principles, and ensure long-term viability for developers and users. Plus, Martin tackles the controversies: Are L2s parasitic? Could native rollups spell the end for existing solutions? And why should they rely on zero-knowledge proofs instead of Optimism? Show highlights: Whether the Ethereum scaling roadmap is accomplishing its goals Why based rollups are not a full solution, according to Martin What Martin proposes instead Why Martin is proposing these rollups to be ZK-rollups instead of optimistic Whether the proposed solution would focus on privacy What it is about chain abstraction that Martin doesn’t like How he envisions that these native rollups will solve many composability issues across L2s Whether the community has embraced this proposal and how likely it is to be implemented What would happen to current L2s if native rollups get implemented Why despite being against the current state of L2s, Martin says that they are not parasitic to Ethereum Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com Thank you to our sponsors! Polkadot Robinhood & Arbitrum iYield Guest: Martin Köppelmann, Co-founder and CEO of Gnosis Links Previous coverage of Unchained on prediction markets: ETH Is Down Bad, While Layer 2s Are Ripping. Are L2s Parasitic to Ethereum? Are L2s ‘Parasitic’? Analysis Shows Ethereum Only Gets a Tiny Percentage of Fees Are Solana’s ‘Network Extensions’ Just Like Ethereum’s Layer 2s But by a Different Name? Ethereum Has Had a Banner Year in Most Areas. Except Price. Should Ethereum Layer 2s Urgently Decentralize Their Sequencers? Blockworks: Gnosis founder argues Ethereum needs native L2s Martin’s tweet on USDC yields Timestamps: 00:00 Intro 01:47 Is Ethereum’s scaling roadmap meeting its goals? 04:07 Why Martin believes based rollups aren’t the full solution 08:11 Martin’s bold proposal for native rollups 12:07 Why ZK-rollups over optimistic rollups 15:56 Whether these rollups should also preserve privacy 17:11 Martin’s issue with chain abstraction 22:35 How native rollups could solve L2 composability problems 26:49 Has the community embraced Martin’s vision? 30:52 What happens to existing L2s if native rollups win 36:06 Whether Martin thinks L2s are parasitic to Ethereum Learn more about your ad choices. Visit megaphone.fm/adchoices

BlackRock’s entry into crypto through its bitcoin ETF (and later on the spot ether ETF) has rewritten the record books, driving massive inflows and reshaping the narrative for institutional crypto adoption. Robbie Mitchnick, head of digital assets at BlackRock, unpacks the story behind this monumental shift. He shares the journey from skepticism to success, how BlackRock’s ETF has changed the market, and the surprises even he didn’t expect. Plus, he explains why he believes people mistake bitcoin for a risk-on asset, what the investment case is for Ethereum, and what’s next for crypto in 2025. Show highlights: 01:31 What and who is driving this massive amount of activity in bitcoin trading 05:05 Why Robbie offers some caution about the future of digital asset regulation 08:35 What about crypto captivated Robbie 13:32Whether Robbie was the one who “orange pilled” BlackRock CEO Larry Fink 14:37 Why Robbie thinks that bitcoin is not a risk-on asset 18:08 The backstory of how BlackRock ended up filing for a spot bitcoin ETF 20:15 How inflows into ETFs surprised Robbie, even considering fairly optimistic projections 24:14 Why BlackRock’s clients always ask about bitcoin’s correlation with other assets 27:22 Robbie’s take on the critique that BlackRock could centralize a decentralized ecosystem 29:34 What his thesis is on stablecoins, payments, and tokenization 31:25 The reasons why Ethereum ETFs have not been as successful as bitcoin 34:14 How Robbie pitches the ether ETF to clients 35:26 Why BUIDL is built on Ethereum, a public blockchain, rather than on a private one 36:48 Why DeFi’s potential is “immense,” according to Robbie 41:56 How bitcoin ETF options will impact the behavior of investors 43:57 What features BlackRock would love to see under a new SEC regime 45:32 What it’ll take for regulators to approve staking in ether ETFs 46:33 Why Robbie is not sure which crypto ETFs might come next 48:16 Whether BlackRock will develop proof of reserves for its ETFs 52:21 Robbie’s outlook for the markets in 2025 Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com Thank you to our sponsors! Polkadot Mantle’s FBTC Guest: Robbie Mitchnick, Head of Digital Assets for BlackRock Links Previous coverage of Unchained on Bitcoin ETFs: Why Bitcoin ETF Options Could Unlock Massive Amounts of Capital for Crypto How, in 7 Weeks, Bitcoin ETFs Reached Inflows That Took Gold ETFs 3 Years Bitcoin’s Price Is Way Up. And $48 Trillion in Wealth Just Got Access How Small Bitcoin ETF Issuers Will Compete With the Likes of BlackRock Unchained: BlackRock’s Spot Bitcoin ETF Eclipses Firm’s Gold ETF in Net Assets CNBC: BlackRock CEO Larry Fink: I believe bitcoin is a legit financial instrument CoinDesk: BlackRock Sees Sovereign Wealth Funds, Pensions Coming to Bitcoin ETFs Forbes: A Trump U.S. Strategic Bitcoin Reserve ‘Game-Changer’ Is Suddenly Hurtling Toward The Bitcoin Price Learn more about your ad choices. Visit megaphone.fm/adchoices

The 2024 elections have reshaped the future of crypto in Washington. With almost $200 million in donations, the Fairshake Super PAC not only backed pro-crypto candidates but also took bold risks by challenging entrenched incumbents. This strategic gamble appears to have paid off, leading to the most crypto-friendly Congress in U.S. history. In this episode, Coinbase’s Faryar Shirzad and Kara Calvert reveal the behind-the-scenes decisions that drove this unprecedented effort, discuss why crypto needs to transcend partisanship, and explain how this election could usher in long-awaited regulatory clarity. They also delve into the global stakes of blockchain adoption and whether the U.S. can reclaim its leadership as other nations surge ahead in Web3 innovation. Show highlights: 01:48 The journey of how crypto became so important in this election 04:16 The differences between Fairshake and Stand With Crypto 08:48 How Fairshake decided which candidates to support 12:48 How Washington reacted to the massive influx of money to support pro-crypto candidates 15:51 Why Fairshake stayed out of the Presidential race 18:23 How hard it was for Fairshake to handle its non-partisan stance with both parties 22:32 How the U.S.’s approach to crypto can be compared to how it lost on the cutting-edge technologies of 5G and semiconductors 26:41 What drove the decision to attempt to unseat Sherrod Brown, which ended up giving Sen. Warren more power on the Senate Banking Committee 32:54 Whether Sen. Warren’s anti-crypto stance has been diminished after the elections 35:28 How the industry got past the fiasco of Sam Bankman-Fried and FTX 42:07 Why Faryar believes that “anyone would be an upgrade” from Gary Gensler as Chair of the SEC 46:45 How blockchain technology allows for instant settlements, a feature so needed in capital markets 49:36 What could happen with the SEC’s legal actions against crypto companies now that Gensler will lose his position as SEC chair 53:22 What Faryar and Kara expect the new administration to do around crypto 56:47 How DeFi can be regulated in the U.S. and whether Trump will support the motto “code is free speech” 1:01:37 The perception of Washington insiders about Polymarket 1:04:28 Whether the technology sector will be on the Republican side from now on Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com Thank you to our sponsors! Polkadot Robinhood & Arbitrum iYield Guests: Faryar Shirzad, Coinbase Chief Policy Officer Kara Calvert, Coinbase Head of US Policy Links Previous coverage of the elections on the podcast: Under Trump, the First Crypto President, Where Will Markets Go? Bits + Bips: Trump Won and the Question Is: Do You Have Enough Crypto? How Arthur Hayes Has Prepared His Portfolio for the Elections The Chopping Block: 2024 Election Debate feat. Mike Novogratz & Shaun Maguire It’s Not Just the Presidency. Congressional Races Matter a Lot for Crypto Unchained: DeFi Tokens Jump on Hopes That Trump Will Provide Crypto Regulatory Clarity What Gary Gensler Could Still Do Against Crypto in His Remaining Days as SEC Chair Elizabeth Warren Will Be the Top Democrat on the Senate Banking Committee Stand With Crypto Says These Races Are Crucial for Crypto. But Why? Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner get together and give the industry insider's perspective on crypto. This week, Laura Shin joins the squad to help break down the aftermath of the 2024 U.S. presidential election and its impact on the crypto landscape. With a new pro-crypto administration on the horizon, they explore what Trump’s stance on blockchain regulation could mean for the industry, from ETFs and stablecoin legislation to the potential of a national Bitcoin reserve. They also dig into the power of prediction markets, which outperformed mainstream media in election coverage, signaling a shift in trust and transparency. From the populist appeal of crypto to the challenges facing a divided Democratic Party, this episode uncovers the political dynamics that could drive innovation or stifle growth in the U.S. crypto market. Expect insights on the forces shaping America’s crypto future and the role of policy in crypto’s place on the global stage. Show highlights 🔹 Prediction markets outpaced mainstream media in calling the 2024 election, marking a shift in how people track election outcomes. 🔹 Trump’s pro-crypto stance signals potential changes for the industry, from new ETFs to a possible federal Bitcoin reserve. 🔹 The Democratic Party’s anti-crypto stance highlights a disconnect between progressive values and blockchain innovation. 🔹 As prediction markets gain popularity, more Americans rely on them over traditional media for real-time election insights. 🔹 One high-stakes bettor’s multi-million-dollar wager on the election paid off, thanks to a unique strategy involving the "neighbor effect." 🔹 The Democratic Party’s focus on "woke" issues may have contributed to a historic loss, raising questions about the future of these policies. 🔹 With pro-crypto Republicans in control, sweeping legislative changes are expected, from stablecoin laws to crypto tax reforms. 🔹 Crypto’s anti-elite appeal is resonating with populist movements, indicating a potential path for mass adoption. 🔹 The idea of Bitcoin on the U.S. national balance sheet is gaining traction as a pro-crypto administration takes office. 🔹 Political choices could propel or stifle America’s standing as a global leader in blockchain innovation and technology. Hosts ⭐️Haseeb Qureshi, Managing Partner at Dragonfly ⭐️Tom Schmidt, General Partner at Dragonfly ⭐️Robert Leshner, CEO & Co-founder of Superstate ⭐️Laura Shin, journalist, author of ‘The Cryptopians,’ founder and CEO of Unchained Disclosures Links Kamala Harris Shouldn’t Just Embrace Crypto. She Must Help It Flourish by Laura Shin: https://time.com/7111315/kamala-harris-crypto-laura-shin-essay/ How the Trump Whale Correctly Called the Election by Alexander Osipovich https://www.wsj.com/finance/how-the-trump-whale-correctly-called-the-election-cb7eef1d Timestamps 00:00 Intro 01:17 Election Night Observations 04:32 Polymarket's Role 06:19 French Whale x Neighbor Effect 14:52 Mainstream Media vs. Prediction Markets 25:54 The Future of Prediction Markets 27:26 Crypto and the Democratic Party's Missteps 30:30 Democratic Party's Superiority Complex 31:38 Crypto's Global Impact and Legislation 43:23 Predictions for Crypto's Future in the U.S. 49:47 The Return of Crypto Companies to the U.S. Learn more about your ad choices. Visit megaphone.fm/adchoices

With a friendlier regulatory environment in sight, will crypto finally get its moment? Jeff Park, head of alpha strategies at Bitwise, joins Unchained to break down what a pro-crypto approach in Washington could mean for the industry, why DeFi tokens such as UNI are thriving, and whether Bitcoin has a place as a strategic national asset. Plus, Park shares insights into how China will respond to Trump’s economic measures and explains what he means by the “radical portfolio” thesis. Tune in to find out how this new political era could set the stage for crypto’s long-awaited breakout. Show highlights: Jeff’s main takeaways from the intersection of crypto and politics this cycle Whether crypto has become a partisan issue Why Jeff highlights the usefulness of Polymarket to track the chances of each candidate Why Uniswap’s token UNI outperformed the broader market What sectors of the industry could boom with more regulatory clarity Whether the idea of using bitcoin as a strategic reserve is feasible How China will respond to Trump’s economic measures What is the “radical portfolio” thesis and what’s bitcoin’s role in it Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com Thank you to our sponsors! Polkadot Mantle’s FBTC Guest Jeff Park, Head of Alpha Strategies at Bitwise The Radical Portfolio Theory Links Unchained: Ether Breaks Past $2,800 to 3-Month High Following Trump’s Victory DeFi Tokens Jump on Hopes That Trump Will Provide Crypto Regulatory Clarity Bitcoin Just Gained $100 Billion in Market Cap Overnight. Is it Time to Take Profits? Bitcoin Hits New All-Time High of $75,000 What Gary Gensler Could Still Do Against Crypto in His Remaining Days as SEC Chair Haralabos Voulgaris’s tweets on gambling: Expressing concern about gambling addiction Contrasting gambling now vs. when he started His opposition to how much gambling is promoted Timestamps: 00:00 Intro 01:13 Key takeaways on crypto’s role in politics 02:38 Has crypto become a partisan issue? 06:47 Why Polymarket is crucial for tracking election odds 09:29 Why UNI is outperforming the market 11:56 Which sectors could thrive with regulatory clarity? 15:07 Could Bitcoin become a national strategic reserve? 18:32 How might China respond to Trump’s economic policies? 20:17 What is the “radical portfolio” thesis? 29:57 Crypto News Recap Learn more about your ad choices. Visit megaphone.fm/adchoices

Donald Trump is headed back to the White House, and the crypto markets are surging in response. This episode of Bits + Bips dives into what the election means for crypto, the potential crypto IPOs coming soon, why DeFi tokens are outperforming, and what changes in U.S. regulation could mean for investors. Ram Ahluwalia and Noelle Acheson join to explore this unprecedented moment in crypto and how inflation and policy changes may boost Bitcoin and the broader ecosystem. Show highlights: Everyone’s initial reactions to Trump’s win How some crypto companies could have their IPO soon Whether it’s time to take profits after the substantial run Why DeFi tokens have been the biggest winners What the next crypto spot ETF will be and whether we’ll see staking rewards for ETH Why mainstream media didn’t see the Trump win coming Why Ram and Alex believe that Kamala Harris was not the right candidate How Trump won the appeal of the lower class in the U.S. Whether immigration was key to sustaining the GDP and avoiding a “hard landing” Crypto’s massive win in Congress How much impact Elon Musk had in the outcome of the elections How Polymarket has become a “new source of truth,” according to Ram Why the Fed doesn’t have a need to accelerate rate cuts Whether Trump’s policies will be inflationary and whether he’ll go forward with tariffs Whether the 10-year bond will reach new highs Thanks to Gemini for sponsoring this episode of Bits + Bips. Hosts: James Seyffart, Research Analyst at Bloomberg Intelligence Alex Kruger, Founder of Asgard Guests: Ram Ahluwalia, CFA, CEO and Founder of Lumida Noelle Acheson, Author of the “Crypto Is Macro Now” Newsletter Timestamps: 00:00 Intro 01:57 Reactions to Trump’s election win 03:13 Which crypto companies might IPO soon? 09:28 Is it time to take profits in crypto? 17:30 Why are DeFi tokens surging? 20:31 What’s next for crypto ETFs and ETH staking rewards? 28:00 Why mainstream media missed Trump’s victory 33:44 Ram’s thoughts on Kamala Harris’s candidacy 43:52 How Trump gained appeal with lower-income voters 45:41 Did immigration help sustain GDP? 53:11 Crypto’s big win in Congress 56:53 Elon Musk’s influence on the election outcome 1:04:10 Is Polymarket becoming a “new source of truth”? 1:10:30 Why the Fed may not need faster rate cuts 1:13:26 Will Trump’s policies drive inflation? 1:17:08 Will the 10-year bond hit new highs? Learn more about your ad choices. Visit megaphone.fm/adchoices

Crypto networks are meant to be decentralized, community owned systems. But they’re turned out to be dominated by whales and to have more mercenaries who are just interested in getting free tokens to dump them, rather than having long-term believers who want to build the ecosystem. How can tokens be launched in a way that gets token holders aligned with long-term success? Today’s guests, Mike Dudas, founding partner of 6th Man Ventures, and Matt O’Connor, co-founder of Legion, believe there’s room for improvement. In this episode, they share how Legion aims to reshape the process, focusing on fair distribution, incentivizing organic user growth, and building loyal communities. They explore Legion’s approach to token sales, its compatibility with regulatory frameworks, and why it might be the key to bringing new people into crypto. Show highlights: How Legion was born and what its main goal is The problems with how token launches currently work Why projects don’t want to return to the ICO model Whether the criteria to earn a better reputation on Legion is gameable How Legion actually works and what the role of KYC is What type of regulatory framework Legion is leveraging How MiCA’s rules for token offerings allowed for this type of project to emerge Whether the U.S. should follow Europe in establishing a crypto framework like MiCA What the business model of Legion is What the difference is between Legion and other similar platforms such as Cobie’s Echo Whether token sales is a better distribution mechanism than airdrops Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com Thank you to our sponsors! Polkadot Mantle Robinhood & Arbitrum Guests: Mike Dudas, Founding partner of 6th Man Ventures Matt O’Connor, Co-Founder of Legion Matt’s open source publication: Tokenomics for Builders Links Unchained: Legion Launches New Tool to Identify Best Contributors in Crypto Fundraises Legion Whitepaper Timestamps: 00:00 Intro 01:49 How Legion was born and its main goal 05:33 What’s wrong with current token launches? 11:13 Why projects avoid the ICO model 13:37 Can Legion’s reputation system be gamed? 26:18 How Legion works and the role of KYC 35:23 The regulatory framework behind Legion 39:06 How MiCA enabled this type of project 44:09 Should the U.S. adopt a framework like MiCA? 46:32 What is Legion’s business model? 50:28 How Legion differs from Cobie’s Echo 53:18 Are token sales better than airdrops for distribution? Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner slice into the juiciest topics in crypto. This week, Robert Leshner welcomes two special guests: Mike Novogratz, CEO of Galaxy, and Shaun Maguire, general partner at Sequoia Capital, for a one-of-a-kind debate on how the upcoming 2024 U.S. presidential election could shape the future of crypto. With the stakes higher than ever, they explore what a Harris or Trump presidency could mean for crypto regulation, market infrastructure, and the populist undercurrents driving the industry forward. From blockchain voting possibilities to the macroeconomic forces impacting Bitcoin and stablecoins, the conversation pushes beyond policy to the heart of crypto's role in tomorrow's world. This episode delivers crucial insights on the political forces that could redefine crypto’s trajectory in the U.S. and beyond. Show highlights 🔹 Crypto in the Election Crosshairs: Mike Novogratz and Shaun Maguire debate how a Trump or Harris presidency could reshape the U.S. crypto landscape. 🔹 Deregulation vs. Innovation: Trump’s pro-deregulation stance meets Harris’s pro-innovation campaign promises. Which path is better for crypto growth? 🔹 Crypto's Populist Appeal: How Trump’s base connects with crypto’s populist movement and why that resonates with “the people at the bottom” of the income bracket. 🔹 Deep State and Political Jaywalking: Shaun Maguire dives into the concept of “political jaywalking” and its impact on trust in U.S. elections. 🔹 The Future of Blockchain Voting: Could blockchain-based voting bring transparency to elections? The crew weighs in on the feasibility and timing of decentralized voting. 🔹 Bitcoin's Role in Macro Trends: With U.S. debt surging, Mike and Shaun share their thoughts on Bitcoin as a hedge, whether Trump or Harris takes office. 🔹 The Crypto Political Machine: A look at how crypto insiders engage with political campaigns and the industry’s impact on down-ballot races. 🔹 Wildcard Assets: How a national Bitcoin reserve might impact U.S. fiscal policy – could it ever happen under Harris? Hosts ⭐️Robert Leshner, CEO & Co-founder of Superstate Guests ⭐️Mike Novogratz, CEO of Galaxy ⭐️Shaun Maguire, general partner at Sequoia Capital Disclosures Timestamps 00:00 Introduction 02:03 Shaun’s Argument for Trump 05:10 Mike's Argument for Harris 11:10 Political Bias and Prediction Markets 18:25 Flynn & Political Jaywalking 24:26 Macroeconomic Implications for Crypto 30:29 Bitcoin Price Predictions Post-Election 32:38 Gold & Central Bank Dynamics 34:41 Nation States & Bitcoin Reserves 37:35 Military Technology & Future Dominance 39:10 Presidential Campaign Issues & AI 47:44 Election Integrity & Blockchain Voting 53:17 Crypto's Influence in Politics 56:42 $WLFI Endeavors 01:00:17 Closing Thoughts Learn more about your ad choices. Visit megaphone.fm/adchoices

As the 2024 U.S. election draws near, the crypto market is buzzing with speculation on what’s next. Arthur Hayes, co-founder of BitMEX, joins Unchained to discuss how Bitcoin and altcoins might react depending on who wins. Hayes shares his insights on election trade strategies, from the importance of sticking to the majors to his preference for Solana over Ethereum in the short term. He also dives into whether Trump will fulfill his promises to the crypto community and drops a banger explanation on what could be the next Federal Reserve move. (Hint: it’s not about interest rates.) Plus, Unchained reporter Veronica Irwin joins the show to discuss her latest scoops on Stand With Crypto’s scoring system and SEC Commissioner Hester Peirce’s stance on whether she would want to become Chair of the agency in replacement of Gary Gensler. Show highlights: 01:39 How the market could react based on the election outcome 03:53 Has a Trump win been priced in? What if there’s no clear winner? 06:30 Arthur’s short-term trade strategy for the elections 13:00 Will Bitcoin surge, and is an altcoin rotation coming? 16:52 Why Arthur favors SOL over ETH right now 21:28 Whether Layer 2s are parasitic to Ethereum 24:19 Could crypto regulation reform come after the election? 26:12 Whether Trump would deliver on his promises to the crypto community 29:45 The election outlook for memecoins 30:52 Why traders should focus on high-cap AI memecoins 36:41 Why Arthur believes the Fed need to restart quantitative easing 47:55 How much money China will print to tackle its property crisis 52:21 Arthur’s take on Japan’s political shift and economic impact 54:44 Whether Stand With Crypto has been honest with the crypto community 56:20 A potential conflict of interest of one of the top executives 56:58 Stand With Crypto’s affiliation with PAC Fairshake 1:04:19 Whether Hester Peirce will become SEC Chair if Trump wins 1:08:27 Crypto News Recap Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com Thank you to our sponsors! Polkadot Mantle’s FBTC Guest Arthur Hayes, Co-Founder of BitMEX and CIO at Maelstrom Previous appearances on Unchained: Arthur Hayes and Will Clemente on How This Bitcoin Halving Is Different 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 Links Unchained: Why You Might Have to Wait a Little Longer for a Crypto Bull Market What Needs to Happen for Altcoins to Finally Pump: Report Arthur’s latest blog post Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner slice into the juiciest topics in crypto. This week, the crew tackles everything from AI-powered memecoins and the explosive rise of GOAT token to the ongoing rivalry between Ethereum and Solana. They break down the appeal of AI-driven assets, analyze Trump’s World Liberty Finance flop, and debate whether Ethereum’s current fragmentation is hurting its narrative. With Halloween thrills and market chills, this episode delivers insider insights on the trends pushing crypto forward. Show highlights 🔹 GOAT Token Madness: The latest in AI memecoin hype and how GOAT token captured the attention of investors and Twitter alike. 🔹 Memecoin Stagecraft: Are AI-driven coins here to stay, or is it all clever stagecraft? Our thoughts on the future of AI-based assets. 🔹 AI Meets Memecoins: Is character-driven AI the secret sauce in building compelling memecoins? Exploring the potential of charismatic, interactive assets. 🔹 World Liberty Finance Flop: Trump's crypto token sale misses the mark—are accredited investor rules and lack of memes to blame? 🔹 Trump’s Role in Crypto: How Trump’s “hands-off” approach may have impacted World Liberty’s slow start. 🔹 Ethereum vs Solana: Ethereum’s current challenges and Vitalik’s roadmap defense—can Ethereum reclaim its narrative from Solana’s simpler, single-layer approach? 🔹 Fragmentation in Ethereum’s Ecosystem: How Ethereum’s L2 rollup competition might be confusing new users and hurting its narrative. Hosts ⭐️Haseeb Qureshi, Managing Partner at Dragonfly ⭐️Tom Schmidt, General Partner at Dragonfly ⭐️Robert Leshner, CEO & Co-founder of Superstate ⭐️Tarun Chitra, Managing Partner at Robot Ventures Disclosures Timestamps 00:00 Intro 02:12 The Rise of GOAT Token 11:41 The Future of AI Coins & Meme-Based Value 21:50 The Importance of Attention in Crypto 23:53 Trump's World Liberty Finance Token Sale 31:24 Ethereum's Struggles and Vitalik's Response Learn more about your ad choices. Visit megaphone.fm/adchoices

Subscribe to Unchained’s new regulatory newsletter Unregulated. With the presidential race in the spotlight, it’s easy to overlook the powerful role that Congress could play in shaping crypto policy in the coming years. From committee chairs to legislative allies, crypto advocates are keenly focused on the outcome of key Congressional races. Kristin Smith of the Blockchain Association and Alex Grieve of Paradigm join us today to break down which races and committees are critical for crypto, why the industry is more visible in Washington than ever, and what the chances are for lame duck legislation this year. Read more: How Congressional Committee Leadership Could Shake Out for Crypto This Election Show highlights: Why this election is “incredibly important” for crypto How the presence of Fairshake is increasingly noticed by Washington Why some committees are more important than others for the industry Why the Senate Banking Committee is key Whether Alex and Kristin are concerned about Sen. Warren becoming chair of the Senate Banking Committee What could happen to the House Financial Services Committee Who is likely to take on both of the Agricultural Committees, which is in charge of the CFTC How the Senate Commerce affects the crypto industry How the members of the House Energy Committee don’t have a strong stance on crypto What the stance of the Finance Committee on crypto is Why there is an opportunity in the House Ways and Means Committee Whether crypto tax legislation is in the works Who could be the SEC Chair under a Trump or Harris presidency Who could be the next Chair of the CFTC Whether Yellen will be replaced on Treasury, with many pro-crypto options on tap Why the Federal Reserve matters much more if they get to regulate stablecoins What the odds are for crypto legislation being passed this year Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com Thank you to our sponsors! Polkadot Mantle Robinhood & Arbitrum Guests: Kristin Smith, CEO of the Blockchain Association Kristin’s Op-ed on Unchained: In the Ongoing SAB 121 Fight, Here’s How Crypto Can Move Forward With Bipartisan Support Previous appearances on Unchained: Kristin Smith on Why Crypto Legislation Could Be Passed by Year's End Can Crypto Be a Force in the Midterms? Yes, Say Kristin Smith and Jake Chervinsky What the Crypto Industry Could See Under a Biden Administration Alexander Grieve, VP of Government Affairs at Paradigm Links Previous coverage of Unchained on the elections: With Rate Cuts and Upcoming Elections, What’s the Best Play in Crypto? Why Congressman Ro Khanna Is Hopeful the Democratic Party Will Embrace Crypto Why Gary Gensler Will Likely Be Out as SEC Chair No Matter Who Wins the Election Congressman French Hill on Crypto and His Top Pick for the Next SEC Chair Timestamps: 00:00 Intro 01:55 Why this election is pivotal for crypto 04:50 How Fairshake’s presence is catching Washington’s eye 16:39 Which committees matter most for crypto? 22:49 Why the Senate Banking Committee is crucial 28:54 Concerns about Sen. Warren as potential chair? 38:15 Possible shifts in the House Financial Services Committee 41:47 Who could control the Agricultural Committees and CFTC oversight? 47:35 How the Senate Commerce Committee impacts crypto 51:04 House Energy Committee’s stance on crypto 53:21 Finance Committee’s crypto perspective 55:03 Opportunities in the House Ways and Means Committee 57:28 Is crypto tax legislation in the works? 1:01:23 Potential SEC Chairs under Trump or Harris 1:03:57 Who could be the next CFTC Chair? 1:05:46 Will Yellen be replaced with a pro-crypto Treasury option? 1:08:06 Why the Fed’s role could be pivotal for stablecoin regulation 1:10:46 Odds of crypto legislation passing this year Learn more about your ad choices. Visit megaphone.fm/adchoices

Subscribe to our new regulatory newsletter Unregulated: https://unchainedcrypto.substack.com/s/unregulated The two-week-old GOAT memecoin, which hit a market cap of almost $880 million on Thursday, is captivating everyone in crypto. Not because this is memecoin szn, but because its rise was fueled by an AI called Truth Terminal, which is itself, a baby of two other AI models. Teng Yan, founder of Chain of Thought, joins Unchained to break down how this unexpected AI creation has turned into a phenomenon, why it has captured the attention of the crypto world, and what the future holds for AI-driven tokens. At the end, Laura also discusses with Unchained’s regulatory reporter Veronica Irwin two interesting and important news stories: who Kamala Harris is vetting for SEC chair and how one Senate race could inadvertently give Senator Elizabeth Warren more power over crypto. Show highlights: How an AI experiment unexpectedly led to the creation of GOAT and sparked interest in AI-generated subcultures How "Terminal of Truth" evolved its own personality, gained attention from Marc Andreessen, and began posting about a new "Goat Sea gospel" religion How the spelling mistake sparked skepticism about the AI model What happened with the $50,000 in BTC that Marc Andreeseen gave to Truth Terminal Whether an AI can have its own wallet and what the implications are Whether AI memecoins could start surging on other chains What we can expect in terms of the proliferation of AI memecoins What the future looks like for the intersection of crypto and AI Who Kamala Harris is considering for SEC Chair if she wins the U.S. election Why one Senate race could give Elizabeth Warren more power over crypto Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com Thank you to our sponsors! Polkadot Mantle’s FBTC Guest Teng Yan, Founder of Chain of Thought Teng’s article: GOAT: The Gospel of Goatse Links Previous coverage of Unchained on GOAT: GOAT Hits a Record $879 Million Market Cap After Brian Armstrong Offers to Help Truth Terminal GOAT: How AI Agents Talking Turned Into a $268 Million Memecoin 'Religion' Infinite backrooms Andy : https://x.com/AndyAyrey Andy Ayrey's (creator of Truth Terminal) research paper on LLMtheism: Truth Terminal's X account Kaito: GOAT’s mindshare Timestamps: 00:00 Intro 01:28 How an AI experiment led to the creation of GOAT 06:16 The rise of “Terminal of Truth” and its unexpected evolution 11:57 How a simple spelling mistake raised skepticism 20:09 What happened to the $50,000 in BTC from Marc Andreessen? 21:06 Whether AI models can have their own wallets 24:17 Whether AI memecoins will surge on other chains 26:19 What’s next for the rise of AI memecoins 28:35 The future of AI and crypto’s intersection 31:39 Who Kamala Harris may consider for SEC Chair 34:12 How one Senate race could boost Elizabeth Warren’s power over crypto 40:33 News Recap Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner slice into the juiciest topics in crypto. In this episode, the crew is joined by special guest Anatoly Yakovenko, the mastermind behind Solana, for a deep dive into the network’s evolution and future. The conversation kicks off with a look at Solana's rapid rise from its rocky early days to its current status as a blockchain powerhouse. They debate the role of memecoins in Solana’s ecosystem and whether they’re here to stay or just a passing craze. Next, Anatoly opens up about Fire Dancer’s impact on the network’s scaling and performance, sparking a broader discussion about vertical vs. horizontal scaling. Finally, they explore Solana’s ambitious push into the mobile space with the Seeker phone and its implications for the broader crypto industry. Packed with expert insights, bold predictions, and a few surprises, this episode is a must-listen for anyone following the future of 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 🔹 Solana’s Rise: Solana’s journey from early turbulence to becoming a blockchain powerhouse. 🔹 Memecoin Frenzy: The explosive growth of memecoins on Solana and their impact on the ecosystem. 🔹 Fire Dancer Impact: How Fire Dancer could revolutionize Solana’s scalability and performance. 🔹 Vertical vs Horizontal Scaling: Is Solana’s vertical scaling approach stronger than Ethereum’s rollups? 🔹 Seeker Phone: Solana’s ambitious push into mobile with the Seeker phone and its potential disruption of the app store landscape. 🔹 ETHOS Phone: How does Ethereum’s new phone compare to Solana’s mobile vision? 🔹 Network Extensions: The introduction of network extensions and whether they align with Solana’s long-term vision. 🔹 App Chains: Could the rise of app-specific chains lead to fragmentation or strengthen Solana’s ecosystem? 🔹 Developer Experience: The challenges of Solana’s development environment and their impact on innovation. 🔹 Ethereum Rivalry: With both networks advancing, how is the competition between Solana and Ethereum shaping up? Hosts ⭐️Haseeb Qureshi, Managing Partner at Dragonfly ⭐️Tom Schmidt, General Partner at Dragonfly ⭐️Tarun Chitra, Managing Partner at Robot Ventures Special Guest ⭐️Anatoly Yakovenko, Co-Founder & CEO Solana Labs Disclosures Timestamps 00:00 Intro 02:56 TCB’s Criticisms 05:12 Evolution of Solana's Ecosystem 17:36 Solana's Competition 22:05 What Is Solana's Moat? 28:31 The Role of Atomicity and Composability 34:11 Network Extensions 44:20 First Mover vs. Second Cohort 48:44 Future of Asset Types and Content 52:49 Developer Experience and Token Implementations 1:00:38 Solana Phone vs. EthOS 1:09:16 Thoughts and Criticism Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode of Bits + Bips, hosts James Seyffart, Alex Kruger, and Joe McCann are joined by Jeff Park of Bitwise to discuss some of the latest developments in the crypto world. They share their thoughts on a controversial ECB paper about Bitcoin, breaking down why they believe the authors missed the mark. They also dive into the rising institutional interest in spot Bitcoin ETFs and how Trump’s momentum in the polls could impact the market, especially for altcoins. Plus, the conversation explores the significance of Bitcoin ETF options and why they could have a larger impact than many expect. Show highlights: Why the guys believe that the ECB paper on Bitcoin is a joke How the Minneapolis Fed report said that prohibiting Bitcoin would allow the government to operate at permanent deficits The institutional demand for spot bitcoin ETFs How Trump has been rising in the polls and what the Trump trade looks like at the moment Whether polls and Poylmarket bets on the U.S. elections are manipulated How the Fed is putting more focus on jobs than inflation When the bitcoin ETF options might launch and which issuers will get it first How memecoins succeed and the rise of AI memecoins like GOAT, fueled by the AI bot truth_terminal What the $1.1 billion acquisition by Stripe of stablecoin company Bridge means Why Donald Trump’s World Liberty Financial token sale was a flop Sponsors: Gemini Stellar Hosts: James Seyffart, Research Analyst at Bloomberg Intelligence Alex Kruger, Founder of Asgard Joe McCann, Founder, CEO, and CIO of Asymmetric Guest: Jeff Park, Head of Alpha Strategies at Bitwise Links ECB paper on bitcoin: Bitcoin Appreciation Could Be ‘Fuelling The Division Of Society’ Omid Malekan’s rebuttal to the paper by Bindseil & Schaaf (of the ECB) Minneapolis Fed report: Unique Implementation of Permanent Primary Deficits? | Federal Reserve Bank of Minneapolis Alex Kruger’s tweet on memecoins Alex Thorn’s tweet on bitcoin adjusted by inflation Timestamps: 00:00 Intro 03:08 Why the ECB’s Bitcoin paper missed the mark 10:17 Political motivations behind the Minneapolis Fed report on Bitcoin 14:18 Rising institutional demand for spot Bitcoin ETFs 21:38 How Trump’s poll momentum could impact crypto 32:14 Are election polls and Polymarket bets manipulated? 43:36 Why the Fed is prioritizing jobs over inflation 52:37 When will Bitcoin ETF options launch? 1:01:08 What makes memecoins, including AI memecoins like GOAT, succeed? 1:13:00 The significance of Stripe’s $1.1 billion crypto deal 1:18:02 Why the WLFI token sale was a “flop” Learn more about your ad choices. Visit megaphone.fm/adchoices

Africa is quickly becoming one of the most dynamic regions for crypto adoption, but the story unfolding there is very different from what many in the West might imagine. Chris Maurice, co-founder and CEO of Yellow Card, joins the show to share how stablecoins are already transforming businesses across the continent, solving real-world problems, and taking on SWIFT. Plus, he explains why USDT is the stablecoin of choice there. He also dives into the long-term economic impact of crypto adoption and explains why anyone serious about business should be paying close attention to Africa. Show highlights: What Yellow Card is and the focus on U.S. Dollar stablecoins The complexities of doing business in Africa Which African countries have the highest rate of adoption Chris’s background and his fun story of how he got into working in Africa How operating a company in Africa is different from other places Why Yellow Card is currently operating with three stablecoins, and the dominance of USDT Why Yellow Card only offers centralized stablecoins Why everyone should pay more attention to the continent, according to Chris Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com Thank you to our sponsors! Polkadot Mantle Robinhood & Arbitrum Guest: Chris Maurice, cofounder and CEO of Yellow Card Links Previous coverage of Unchained on stablecoins and emerging markets: Anita Posch on Why ‘Bitcoin Is a Tool for Freedom’ – Especially in Africa 6 Stablecoins That Are Driving the Sector’s Two-Year High in Market Capitalization Castle Island Ventures’ report: Stablecoins: The Emerging Market Story Timestamps: 00:00 Intro 02:03 What Yellow Card is and why it focuses on U.S. dollar-denominated stablecoins 04:31 The complexities of doing business in Africa 10:42 Which African countries have the highest crypto adoption 19:17 How Chris got into working in Africa 25:11 How operating in Africa differs from other regions 32:42 Why USDT dominates Yellow Card’s stablecoin business 38:31 Why Yellow Card only uses centralized stablecoins 39:22 Does Africa deserve more attention? Learn more about your ad choices. Visit megaphone.fm/adchoices

How do you determine the value of decentralized networks like Bitcoin, Ethereum, or Solana? It’s not as straightforward as traditional investments. Jon Charbonneau, general partner at crypto investment firm DBA, joins Unchained after writing a paper that dives deep into the complexities of valuing blockchain networks. He explains why applying traditional equity models to networks such as Bitcoin falls short, how tax inefficiencies in staking rewards impact valuations, and whether Layer 2 solutions like Optimism and Arbitrum are helping or hurting the long-term value of Layer 1 blockchains. Also, he looks at the big question—are these networks sustainable in the long run? Show highlights: What motivated Jon to write the paper What the main points of the paper are Why tax inefficiencies in staking rewards are a critical factor in valuing decentralized networks and how they differ from traditional corporate taxes What makes valuing networks tricky, as Jon explains how proof-of-work vs. proof-of-stake systems differ from traditional equity models How he thinks about valuing Layer 2s and whether they are parasitic to the L1 Whether blockchains are sustainable in the long term Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com Thank you to our sponsors! Polkadot Mantle’s FBTC Guest Jon Charbonneau, co-founder and General Partner at DBA L1 & L2 Token Value Capture Links Previous coverage of Unchained on this topic: How to Figure Out Whether a Crypto Token Is Worth Its Trading Price ETH Is Down Bad, While Layer 2s Are Ripping. Are L2s Parasitic to Ethereum? Are Layer 2s Parasitic to Ethereum and ETH as an Asset? Are L2s ‘Parasitic’? Analysis Shows Ethereum Only Gets a Tiny Percentage of Fees Ether-Bitcoin Ratio Is at Multi-Year Lows, But It’s Just ‘Temporary’ and an ‘Opportunity’ Timestamps: 00:00 Intro 01:25 What sparked Jon's interest in this topic? 03:35 Key takeaways from the paper 08:30 How staking taxes could change the game 13:46 Why traditional models fail for blockchain 20:10 Are Layer 2s helping or hurting Layer 1s? 26:51 Can blockchains survive long term? 29:20 News Recap Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner slice into the juiciest topics in crypto. In this episode, the crew dives headfirst into the “Memecoin Supercycle,” sparking a debate on whether these wild, meme-powered coins are just a fleeting obsession or a genuine revolution. They then dissect Uniswap’s bold leap to launch its own chain on the Optimism Superchain, asking if this move could steal the spotlight from Ethereum and forever reshape the DeFi landscape. And just when you think it’s all about tech, they dive into Kamala Harris’ latest crypto play, with an eyebrow-raising appeal to memecoin investors. From soaring hype to DeFi drama and political power moves, this episode is packed with hot takes, spicy predictions, and a glimpse at what might lie ahead in the world of crypto. Show highlights 🔹 “Memecoin Supercycle” and whether memecoins are on track to overtake traditional altcoins as they fuel a new wave of financial speculation. 🔹 Unichain: Uniswap’s bold move to launch its own chain on the Optimism Superchain, questioning whether this could pull DeFi liquidity away from Ethereum and reshape the crypto ecosystem. 🔹 Kamala Harris’ unexpected crypto appeal in her new “opportunity agenda for Black men,” which includes a vague promise for regulatory protection for digital assets. 🔹 Memecoins vs. VC Coins: Murad’s thesis on memecoins outshining VC-backed tokens sparks a heated debate on whether financial nihilism is driving this trend and what it means for the future of crypto investing. 🔹With the new Unichain possibly diverting DeFi liquidity, the crew ponders whether Ethereum is at risk of losing its dominance as the “home of DeFi.” Hosts ⭐️Haseeb Qureshi, Managing Partner at Dragonfly ⭐️Tom Schmidt, General Partner at Dragonfly ⭐️Robert Leshner, CEO & Co-founder of Superstate ⭐️Tarun Chitra, Managing Partner at Robot Ventures Disclosures Timestamps 00:00 Intro 2:10 The Memecoin Supercycle 9:13 VC Coins vs. Memecoins 25:30 Unichain: A New Era for Uniswap 31:51 Token Issuance on Ethereum vs. L2s 35:59 Uniswap's Future and Asset Creation 38:30 Predictions for Unichain's Impact 44:11 Retail Flow and MEV Extraction 53:31 Kamala Harris' Crypto Policy 56:05 Trump vs. Harris Learn more about your ad choices. Visit megaphone.fm/adchoices

DeFi tokens have faced significant challenges in recent years. However, are we now on the verge of a new bull market? Arthur Cheong, founder and CIO of DeFiance Capital, and Jordi Alexander, founder of Selini Capital and chief alchemist at Mantle, join the show to discuss why they believe DeFi is poised for growth. They dive into how DeFi's security and user experience have improved, the impact of Layer 2 solutions on Ethereum, and whether Ethereum or Solana will drive the next bull run. Plus, they discuss whether interest in memecoins takes attention from DeFi, and why sustainable tokenomics matters when it comes to valuing coins. Are DeFi tokens finally ready to shine again? Show highlights: Why they believe that DeFi is poised for a bull cycle How DeFi's security and UX have improved Whether DeFi activity can be sustained in the long term Why Jordi thinks that Layer 2s are not parasitic to ETH but Arthur thinks they are Whether the DeFi bull case is stronger on Ethereum, Solana or other chains Whether the Ethereum Foundation and Vitalik Buterin should be more proactive in supporting DeFi How memecoins reflect a broader societal problem The importance of tokens that don’t have big unlocks How the lack of solid frameworks for valuing tokens might be causing capital misallocation in crypto Whether a liquid venture investing approach is better for crypto Why Jordi says that there’s a lot of “potential to unlock” with the overlap of Bitcoin and DeFi Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com Thank you to our sponsors! Polkadot Mantle Guests: Arthur Cheong, founder and CIO of DeFiance Capital Aave, the Core Pillar of Decentralized Finance and Onchain Economy Liquid Venture Investing in Crypto Jordi Alexander, Chief Alchemist at Mantle, Founder of Selini Capital Links Previous coverage of Unchained on this cycle & DeFi :Has Decentralized Finance Hit Bottom? Kain Warwick’s tweet on Vitalik being anti-DeFi Cointelegraph: Vitalik Buterin responds to criticism that Ethereum ‘doesn’t care’ about DeFi The great return of DeFi, by @tradetheflow Bitcoin DeFi Bitcoin Layer 2s Aim to Attract Ethereum-Like Dapps. Will They Succeed? Bitcoin Is Worth Over $1 Trillion. How Much Will Coinbase’s New cbBTC Grab? L2s and ETH: ETH Is Down Bad, While Layer 2s Are Ripping. Are L2s Parasitic to Ethereum? Are L2s ‘Parasitic’? Analysis Shows Ethereum Only Gets a Tiny Percentage of Fees Learn more about your ad choices. Visit megaphone.fm/adchoices

Ryan Salame, the former CEO of FTX Digital Markets, is headed to prison, but not before sharing his side of the story. Ryan talks candidly about the decisions he made at FTX, why he withdrew millions of dollars worth of assets in the days leading up to its bankruptcy, and the backstory behind the Thai prostitute trading scheme to unfreeze Alameda’s funds in China. He also disputes the claims about his campaign finance violations, while explaining why he thinks Caroline Ellison is “at least as guilty as SBF” and that Nishad Singh lied. Show highlights: Ryan’s life pre-FTX and how he got into crypto His three attempts to quit working at FTX How Ryan committed campaign finance violations Why Ryan disputes claims that FTX misled banks and misused customer funds How Ryan was involved in setting up trading accounts with the identities of Thai prostitutes to unfreeze Alameda’s funds Whether Ryan was involved in bribing a Chinese official Why he withdrew millions of dollars worth of assets from his FTX accounts right before its bankruptcy Why Ryan claims he was cooperative with prosecutors, despite common belief How he refuses to comment on his wife Michelle Bond's case, but denies wrongdoing Why Ryan pleaded the Fifth Amendment His allegations that prosecutors lied to his lawyers about whether they would pursue charges against Michelle Why he thinks that SBF could have never coerced Caroline Ellison and whether Ellison is “equally guilty” as SBF Why Ryan believes Nishad Singh lied to save himself and his take on Gary Wang How, if he didn’t know about the fraud, he could be so certain that Caroline or Nishad lied Whether the legal advice from FTX’s and Alameda’s lawyers should have been considered in Bankman-Fried's trial Whether testimony from more employees could have created reasonable doubt in SBF's trial Why Ryan is going to law school His plans post-prison What Ryan learned from the FTX debacle Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com Thank you to our sponsors! Polkadot Mantle Guest: Ryan Salame, former CEO of FTX Digital Markets Learn more about your ad choices. Visit megaphone.fm/adchoices