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&#39;s recent $150 million fundraise, the challenges of raising capital in a bear market, and the firm&#39;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&#39;s interaction with SBF, whom he calls a &quot;sociopath,&quot; and why he didn&#39;t invest in FTX

Hack VC&#39;s philosophy to &quot;back hackers&quot; in crypto

The goals behind Zuzalu, the new community that resembles Balaji Srinivasan&#39;s idea of a network state

What the main focus of Hack VC&#39;s investments are, including scalability, AI, and DeFi

Why Alex believes that &quot;we are still so early&quot;

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&#39;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&#39;s USDe

How to improve security in crypto, according to Alex

Why the outcome of the Bitcoin ETFs exceeded Alex&#39;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&#39;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&#39;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

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.
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&#39;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&#39;s future trajectory. 
Alex offers deep insights into the market value to realized value Z-score, explaining its relevance in assessing Bitcoin&#39;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 &quot;altcoin season&quot; and shares his price predictions for Bitcoin by the end of the year.
Learn more: Bitcoin ETFs Explained: What Are They &amp; How Do They Work?
Show highlights:

The main drivers for Bitcoin&#39;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&#39;s history is distinct

What the implications of Merrill and Wells Fargo offering Bitcoin ETFs to their customers are, and how this expands Bitcoin&#39;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 &quot;altcoin season&quot;

Alex&#39;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

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.
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&#39;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&#39;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&#39;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

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.
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

Stacks’ Muneeb Ali On Why Bitcoin Is Exciting Once Again - Ep. 612

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&#39;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&#39;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&#39;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 Le

The Chopping Block: Starknet's Airdrop, Founder Challenges, and Ethena's Mainnet - Ep. 611

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

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.
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

Is the Short Team Lockup for STRK ‘Misaligned’? No, Says Starkware CEO - Ep. 609

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&#39;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&#39;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&#39;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 implic

The Chopping Block: Navigating the New Era of Crypto Social Media with Farcaster's Insights! - Ep. 608

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

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.
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

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.

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

Why One Solana Builder Is Still Optimistic About the Network - Ep. 606

Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tarun Chitra, and Robert Leshner chop it up about the latest news and with special guest, and Farcaster aficionado Ted! This episode zooms in on Farcaster Frames: How are they revolutionizing the platform? We examine Farcaster's transformation and its impact on the future of social media: Can Farcaster redefine decentralized communication? Delving into its user base, we ask: What makes Farcaster's community unique? How do airdrop strategies and global hub distribution shape its ecosystem? And what's next for decentralized social networks like Farcaster? Join us for an insightful discussion on these pivotal questions impacting the crypto sphere.

Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform.

Show Highlights
🔹 Farcaster frames launch: Revolutionizing user engagement in crypto communities.
🔹 Social Media Evolution: Farcaster's Rise from Niche Network to Powerhouse.
🔹 Global dynamics: Farcaster's u.s. focus vs. Lens' worldwide appeal.
🔹 Decentralized platforms: the unique soul of Farcaster and Lens communities.
🔹 Airdrop strategies: boosting Farcaster's growth and user engagement.
🔹 From social networks to media: Farcaster's balancing act.
🔹 Overcoming adoption barriers: user reluctance vs. Farcaster's innovations.
🔹 A shift in content, authenticity and interaction on Farcaster.
🔹 Expanding Farcaster's ecosystem globally.
🔹 Farcaster's vision: the future of decentralized social networks.
🔹 Discovering Farcaster: overcoming hesitation, embracing curiosity.

Hosts
➡️Haseeb Qureshi, Managing Partner at Dragonfly 
➡️Tarun Chitra, Managing Partner at Robot Ventures
➡️Robert Leshner, Founder of Compound

Guest
⭐️ Ted, the Farcaster Fangirl #1

Disclosures
Links
Why Farcaster Frames are important: How a failed Facebook bet is coming to fruition in Web 3 By Antonio García Martínez
Learn more about your ad choices. Visit megaphone.fm/adchoices

The Chopping Block: Is Farcaster the Web3 Social Layer? - Ep. 605

Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Pandora, Google Podcasts, Amazon Music, or on your favorite podcast platform.

Trying to regulate DeFi is a huge challenge because in a truly decentralized system, there should be no centralized actors to make and enforce rules for. This could make combating illicit finance challenging since traditionally, regulation has been targeted at centralized intermediaries. Yet Rebecca Rettig, Chief Legal and Policy Officer at Polygon Labs; Michael Mosier, the co-founder of boutique law firm Arktouros; and Katja Gilman, senior lead for public policy at Polygon Labs, published a paper last week that proposes to do just that. 

Rebecca and Michael join Unchained to discuss what prompted them to write the paper, what the difference is between &quot;onchain CeFi&quot; and &quot;genuine DeFi,&quot; how targeting high-risk wallets can be one part of the solution, how critical communications transmitters (CCTs) are another piece of the puzzle, and what next steps they are pursuing. 

Show highlights:

The motivations behind their paper and Michael and Rebecca’s legal backgrounds

Why Michael views the Bank Secrecy Act as outdated in the context of DeFi

How critical KYC and AML compliance is for the integrity of DeFi

What Rebecca identifies as the principal risks in the DeFi sector

Why their proposal targets the protocol layer for effective DeFi regulation

How &quot;onchain CeFi&quot; differs fundamentally from &quot;genuine DeFi&quot;

Whether a decentralized protocol can be effectively regulated when controlled by a DAO

How if DeFi were to be classified as critical infrastructure by the Cyber and Information Security Agency (CISA), it would impact the sector

Whether the critical components of blockchain networks, such as RPCs, can be regulated effectively

How categorizing wallets based on risk can be one part of the solution to fighting illicit finance

Why Rebecca considers Tornado Cash a prime example of “genuine DeFi”

What steps Rebecca and Michael plan to take next following the publication of their paper


Thank you to our sponsors!

Popcorn Network

Polkadot


Guest:


Rebecca Rettig, Chief Legal and Policy Officer at Polygon Labs

Previous appearances on Unchained:

Just a Coincidence? Coinbase and Polygon Lawyers See Bad Omens in SEC Crackdown

Kik’s Surprising Move in Its Lawsuit With the SEC


Michael Mosier, cofounder of Arktouros PLLC

Links

Previous coverage of Unchained on the topic: Could the Bank Secrecy Act Harm Crypto? Coin Center Thinks So 



Full paper: Genuine DeFi as Critical Infrastructure: A Conceptual Framework for Combating Illicit Finance Activity in Decentralized Finance

Rebecca’s thread


Coin Center: Broad, Ambiguous, or Delegated: Constitutional Infirmities of the Bank Secrecy Act


Tornado Cash
Unchained: Given the Sanctions on Tornado Cash, Is Ethereum Censorship Resistant?

Illicit funds in crypto:
Unchain

2 Lawyers on How the U.S. Can Finally Regulate DeFi - Ep. 604

Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest news and with special guest Aevo&#39;s Co-Founder - Julian Koh. This episode zeroes in on the latest buzz around the Jupiter ($JUP) airdrop: What&#39;s the real story behind Jupiter’s valuation and controversy? We peel back the layers of Jupiter&#39;s token strategy and its impact on market dynamics. The dialogue then shifts to the innovative approaches of Aevo (formerly Ribbon Finance) in pre-launch derivatives and the burgeoning trend of airdrop farming: How are Airdrop strategies altering the landscape of token valuation and investor behavior? The debate intensifies as we tackle the contentious battle between points systems and traditional airdrops: Are points a revolutionary engagement tool or a complex web of incentives? With the resurgence of ICOs and the strategic pivot of Ribbon Finance, we explore the implications of rebrands on the crypto ecosystem. Join us for an in-depth exploration of these critical topics and their profound impact on the world of cryptocurrency.

Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform.

Show Highlights
🔹 Jupiter Airdrop Deep Dive: Unraveling the complexities and controversies behind the Jupiter ($JUP) airdrop.
🔹 Valuation Variance: Examining the fluctuations in Jupiter token valuation and their market repercussions.
🔹 Community Engagement: Evaluating the effectiveness of @weremeow&#39;s live streams in shaping community perceptions.
🔹 Airdrop Discontent: Analyzing the liquidity dynamics and user dissatisfaction stemming from airdrop strategies.
🔹 Innovations in Derivatives: Exploring Aevo&#39;s unique approach to pre-launch derivatives in the DeFi space.
🔹 The Airdrop Farmer&#39;s Dilemma: Discussing the strategies used by airdrop farmers to hedge against price volatility.
🔹 Points vs. Airdrops Debate: Delving into the pros and cons of points systems compared to traditional airdrop mechanisms.
🔹 Rebranding Strategies: Assessing the impact of token rebrands, with a focus on Ribbon Finance&#39;s evolution.
🔹 Pre-IPO Markets and Crypto: Drawing parallels between traditional pre-IPO conversion markets and crypto points systems.
🔹 The Uncertainty Factor: Considering how the allure of uncertainty influences engagement and investment in crypto.
🔹 Protocol Dynamics: Investigating the effects of airdrop farmers on the health and engagement of blockchain protocols.
🔹 ICO Resurgence: Discussing the potential comeback of Initial Coin Offerings and their role in the crypto funding landscape.
🔹 Stress Testing with Points: Highlighting innovative uses of points for protocol stress testing like Eigenlayer.
🔹 Referral Systems in Crypto: Analyzing the impact of referral-based points systems on protocol en

The Chopping Block: Points or Airdrops, Which Is the Better Engagement Model for Crypto Projects? - Ep. 603

While Solana DeFi protocol Jupiter staged what was by most measures a very successful airdrop launch on Wednesday, achieving a market cap of close to $800 million, the company’s critics pointed out numerous ways the company seemed to unfairly enrich itself in the process. While Jupiter’s founder, who goes by the pseudonym Meow, acknowledges he might have done some things differently, he finds the criticisms of the launch mostly based on “bad faith” and misinformation.  

Meow joined Unchained to discuss the thinking behind the launch mechanics of JUP, how the prior launch of memecoin WEN served as a dry run for JUP, whether the aggressive pricing strategy of JUP was a mistake, and what he hopes to achieve with Jupiter next, including the possibility of enabling companies of all kinds to list themselves publicly on chain. 

Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.
Show highlights:

What Jupiter is and how it extends its functionality beyond mere token swapping

What users are primarily utilizing the dollar-cost-average feature of Jupiter for

Meow’s background in crypto and how he ended up in the Solana ecosystem

Why a launchpad seemed the ideal choice for Jupiter's token launch

What prompted the decision to release WEN, a memecoin, before launching JUP

Meow's response to criticisms regarding the launchpad's mechanics

Whether the aggressive pricing strategy for Jupiter was a misstep

How Meow feels about being targeted for criticism

What's on the horizon for Jupiter as a platform following the airdrop


Thank you to our sponsors!

Popcorn Network

iTrustCapital

Guest:

Meow, cofounder of Jupiter
Links

Unchained: 

Jupiter Traders Claim Whopping 545 Million JUP Tokens in First 8 Hours of Airdrop

Jupiter’s Airdropped Token JUP Debuts at a $878 Million Market Cap

Pro-Ethereum Crowd Slams Solana-based Jupiter Airdrop as ‘Absolute Trash’ 

Breakpoint 2023 Meow conference

The Block: Solana DEX aggregator Jupiter confirms token release date



Learn more about your ad choices. Visit megaphone.fm/adchoices

Jupiter Founder Meow to Critics of JUP Airdrop: ‘Give Me a Break’ - Ep. 602

Sign up for our free newsletter here!
Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.
Chris Dixon, founder and managing partner of a16z crypto, believes the Internet’s early ideals of democratization and community ownership have been subverted by the consolidation of power into just a few small companies like Facebook and Google. He’s written a new book called Read Write Own in which he writes about this phenomenon, and argues that blockchain technology can help reverse the trend by providing an environment in which developers and entrepreneurs can once again build direct relationships with their audiences. 
Dixon joins Unchained to discuss criticisms of crypto VC firms, how he feels now about a16z’s previous investment in Facebook, how crypto has become overly politicized in the U.S., why Facebook’s Libra project was ultimately shut down, the significant promise of restaking and EigenLayer in particular, and why he believes that creator royalties are essential for the NFT market.  
Show highlights:

what inspired Chris to write his new book and why he thinks the crypto industry is misunderstood

what the current problems of the Internet are and how just a few companies control most of the revenue

how Chris explains the concept of blockchains to the layman

the importance of property rights in the real world and how blockchains make this better

how Chris responds to the criticism that venture capital firms “dump on retail” and what a proper allocation of tokens to VCs is

what the best designs are to achieve good governance in decentralized networks

how the crypto industry has become politicized in the U.S. 

what Chris thinks about a16z’s investment in Facebook

why Facebook’s Libra project was shut down and his takeaways from the venture

what lessons Chris learned from the 2022 crypto debacle, with the collapse of FTX, Terra, Celsius, 3AC, etc.

where Chris sits in the debate about modular vs. monolithic networks

how restaking and EigenLayer could “unlock a bunch of new design possibilities,” according to Chris

the role of open source software in driving a better environment and better projects

how decentralized social networks could attract new levels of adoption 

whether creator royalties are necessary and why Chris believes that they are “non-negotiable”

Thank you to our sponsors!
Popcorn Network
Guest:

Chris Dixon, founder and managing partner of a16z crypto, author of Read Write Own


Previous appearance on Unchained: Chris Dixon on How Trust Is the Best Lego


Links
Tokenomics
Unchained: What Is Tokenomics? A Beginner&#39;s Guide

Venture Capital
Unchained: Does Venture Capital Investment Violate the Ethos of Crypto? Sequoia Says No

Modular vs. monolithic

Unchained: 

Three Crypto Pioneers on Crypto’s Monolithic vs. Modular Debate

What Are Modular Blockchai

A16z Crypto’s Chris Dixon on How Blockchains Can Save the Internet - Ep. 601

Sign up for our free newsletter here!
Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.

This week a major potential risk to Ethereum was highlighted by a bug that surfaced in Nethermind, a minority execution client. While the bug was fixed quickly, it raised the question of what would happen to the blockchain if Geth, which is used by more than two-thirds of validators and so is considered a “supermajority client,” had a bug. The situation could potentially result in a catastrophic fork of Ethereum. 
Ethereum developer Lefteris Karapetsas joined Unchained to discuss the different scenarios of what could happen, the potential impact of a supermajority client issue on staking services such as Lido, why he feels the incentive system is poorly designed, and what other solutions are out there to address the lack of client diversity. 

Show highlights:

What a consensus issue is in Ethereum and what happened with Nethermind last weekend

Why it would be a big problem if a supermajority client had a bug

The potential impact on staking services such as Lido

Why Lefteris feels like he is reliving the historic Ethereum DAO hack all over again

Whether the largest entities running nodes will start pursuing client diversity

How the data on the prevalence of specific Ethereum execution clients is not verifiable or programmatic, making it less transparent and difficult to analyze

Why Lefteris believes that the incentive system is not designed to achieve client diversity

Whether there are developments in the works to try to solve the lack of client diversity 

Thank you to our sponsors!

Popcorn Network

iTrustCapital

Guest 


Lefteris Karapetsas, Founder of Rotkiapp

Previous appearance on Unchained: Is Code Law? Should the Hacker Be Punished? The DAO Creators Disagree


Links

Unchained: 

Most Ethereum Staking Pools Are Using Just One Execution Client, Potentially Increasing Risks to the Network

The Chopping Block: Data Availability & Why It’s Important

CoinDesk: Bug That Took Down 8% of Ethereum's Validators Sparks Worries About Even Bigger Outage


The Defiant: Ethereum Software Client Centralization Sparks Concern


Crypto.news: Nethermind rolls out urgent fix for block processing bug in Ethereum client


Lukasz Rosmej’s tweet that minority client Nethermind had a consensus issue

Lefteris’ tweet on a supermajority Ethereum client bug 

Coinbase CEO Brian Armstrong's tweet on what he’d do in a censorship resistance request scenario


Run the majority client at your own peril! by Dankrad Feist


Learn more about your ad choices. Visit megaphone.fm/adchoices

The Black Swan Event That Could Cause a Fork in Ethereum (Again) - Ep. 600

Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest news. This week kicks off with a crucial question: Are the latest trends in crypto ETFs signaling a major shift in the investment landscape? We delve into the market's nuanced response to these ETFs and what it means for investors. How important is client diversity for Ethereum's stability and future growth? The squad engages in a lively debate on this topic. With the advent of Proto-Danksharding, how might Ethereum's scalability be impacted, and what are the implications for the blockchain ecosystem? We further examine the user experience across blockchain platforms, particularly comparing Solana and Ethereum in terms of their user interfaces and transaction dynamics. Looking to the future, what breakthroughs and challenges can we anticipate in blockchain technology? Join us for an in-depth exploration of these key questions and their profound impact on the world of cryptocurrency.
Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform.
 
Show highlights: 
🔹 ETF Market Analysis: Dissecting the impact of GBTC and other ETFs on the crypto market.
🔹 Client Diversity in Ethereum: Debating the pros and cons of multiple clients for network resilience.
🔹 Proto-Danksharding Effects: Assessing its potential to lower rollup costs and enhance scalability.
🔹 User Experience in Crypto: Exploring how fees and speeds affect user interactions on various platforms.
🔹 Solana vs. Ethereum UX: Comparing their user interfaces, focusing on transaction costs and latency.
🔹 Blockchain's Future Trends: Delving into predictions and emerging innovations in the blockchain world.
🔹 Ethereum's Protocol Evolution: Discussing the roadmap and future developments in Ethereum.
🔹 Scalability Solutions: Evaluating different approaches to scaling blockchains effectively.
🔹 Layer 2 Dynamics: Analyzing the growth and challenges of Layer 2 solutions on Ethereum.
 
Hosts


Haseeb Qureshi, managing partner at Dragonfly 


Robert Leshner, founder of Compound


Tom Schmidt, general partner at Dragonfly 


Tarun Chitra, managing partner at Robot Ventures

 
Disclosures
Links

Vitalik's post about Cypherpunk values: https://vitalik.eth.limo/general/2023/12/28/cypherpunk.html 

PolyMarket for gas price per blob after EIP 4844: https://polymarket.com/event/gas-price-per-blob-1-month-after-eip-4844?tid=1706149992794 

Tweet thread from DC investor: https://twitter.com/iamDCinvestor/status/1749410364666606075 

Ethereum's Proto-Danksharding and EIP-4844: https://www.eip4844.com/ 

Ethereum 2.0 Clients Dashboard: https://clientdiversity.org/#distribution 

Solana's Firedancer: https://github.com/firedancer-io


Learn more about your ad choices. Visit megaphone.fm/adchoices

The Chopping Block: Data Availability & Why It’s Important - Ep. 599

Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.
Polychain Capital founder and CIO Olaf Carlson-Wee has been through every single bubble in crypto history, from Bitcoin’s rise past the single digits in 2012 to the ICO craze of 2017 to 2021’s NFT mania, and he says his main thesis about crypto has remained consistent since the beginning. That is, that crypto constitutes an “incentive vortex” that will replace the world’s preoccupation with country-backed currencies. 

Carlson-Wee, who was the first employee at Coinbase, joins Unchained to discuss the significance of the launch of spot Bitcoin ETFs, how he successfully navigated all the industry blow-ups in 2022, the challenges of balancing incentives for early adopters versus new users, why EigenLayer is so significant, why Worldcoin’s distribution strategy is a “disaster,” and the strange places that the intersection between crypto and AI could take us. 
Show highlights:

Why Olaf sees the current market as the cusp of another bull run and how his thesis has remained consistent since 2011​​

How the launch of spot Bitcoin ETFs marks a significant milestone 

Why criticisms of the crypto space are really criticisms of money in general 

The fundamental differences between Web3 applications and the Web2 ecosystem and why they matter

The importance of fair token distribution in enhancing the value of Web3 projects

When Olaf expects Bitcoin to replace legacy financial systems

The areas and technologies Olaf and his fund are keen to invest in

Why Olaf thinks a modular blockchain architecture is superior to a monolithic one in the long term

How EigenLayer is innovating to enable new types of applications and whether it competes with Celestia

How Polychain managed to avoid being hurt by the major market blowups of 2022, including Terra and FTX

The evolution of the space from an ideologically driven to a more pragmatic approach

The significance of incentive design in crypto ecosystems and the trade-offs involved in system design

Olaf’s perspective on the recent rise of points systems

The growth of privacy-focused crypto projects and the potential for private blockchains to become the norm

Why he thinks Worldcoin’s distribution strategy is a “disaster”

Olaf’s interest in the intersection of AI and crypto and potential developments in this area

His bullish outlook on SocialFi and Web3 gaming

Thank you to our sponsors!
Popcorn Network
Guest:


Olaf Carlson-Wee, founder and CIO of Polychain Capital

Previous appearances on Unchained:

Olaf Carlson-Wee: &#39;If There Is a Money-Losing Exploit, the Money Is Gone&#39; 

Why The First Employee Of Coinbase Launched A Hedge Fund

To the Moon and Back With Polychain&#39;s Olaf Carlson-Wee

Special Episode with CNBC&#39;s Crypto Trader: Olaf Carlson-Wee on Why This Crypto Winter Is Different

OG Olaf Carlson-Wee on Why His Crypto Thesis Is Stronger Than Ever - Ep. 598

On Wednesday, a federal court in New York heard oral arguments in Coinbase’s motion to dismiss the SEC’s case against it for, among other things, allegedly acting as an unregulated securities exchange. Notably, Judge Katherine Polk Failla pressed the SEC to explain how it has jurisdiction over Coinbase in the case by defining what it considers a security. 
Sam Enzer, a partner at Cahill Gorden &amp; Reindel who represents Coinbase but not in this matter, joined Unchained to discuss why this case is so significant for the crypto industry, how he believes the government contradicted itself on the crucial definition of what constitutes a security, why he thinks the judge will not dismiss the case at this early stage, how the Ripple and Terraform Labs cases could be used by each side, and why he thinks Judge Failla is such a perfect choice to rule in this case.  
Show highlights:

Why SEC v Coinbase holds important implications for the U.S. crypto ecosystem

What the SEC alleges against Coinbase, focusing on its trading platform, wallet, and staking services

How Coinbase forcefully counters the SEC&#39;s claims as it strives to get the case dismissed

What the “major questions doctrine” entails and its critical role in this dispute

Why Sam perceives the judge as “extremely skeptical” of the SEC&#39;s stance

Whether inconsistencies surfaced in the SEC lawyers&#39; arguments

What “strict liability” means and its frequent mention in this legal battle

What takeaways from the Ripple and Terraform Labs cases offer about secondary market sales

Why Sam believes Judge Katherine Polk Failla is exceptionally well-suited for this case

Whether Judge Failla might reject the motion to dismiss, and when 

Thank you to our sponsors!

Popcorn Network

iTrustCapital

Guest


Sam Enzer, partner at Cahill Gordon &amp; Reindel

Previous appearances on Unchained: 

Why SBF&#39;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&#39;s Over for SBF-But His Only Hail Mary Is to Testify

SBF Trial: How Sam Bankman-Fried’s Lawyers Might Try and Win His Case

SBF’s Lawyers Could Be Annoying the Judge How Might That Impact the Trial?

Links

Previous coverage of Unchained on the Coinbase case and the topic of securities:

SEC Sues Binance, Coinbase: ‘This Is Not the End of Crypto in the United States’ 

These 2 Crypto Trading Platforms Agree With SEC Chair Gary Gensler

Coinbase’s Legal Action Against the SEC: How It Will Likely Unfold 

‘Is ETH a Security?’ Why Gary Gensler Couldn’t Give Congress a Straight Answer

Gary Gensler vs. Crypto: What Will the SEC Attack Next?

Rep. Emmer on Why He Believes Gary Gensler Is a ‘Bad-Faith Regulator’

Coinbase vs. SEC

Unchained: 

Federal Judge Presses SEC Over Jurisdiction in Case Against Coinbase

SEC Sues Coinbase for Breaking Securities Laws

SEC Files Motion to Freeze Binance’s Assets, Asks

Get Started

Download the App