Unchained

A major player has entered the stablecoin wars. PayPal went deeper down the crypto rabbithole this week with the launch of its Ethereum-based PYUSD. The dollar-backed stablecoin now puts PayPal in competition with the likes of Tether and Circle for quickly sending value around the world on-chain. José Fernández da Ponte, PayPal’s crypto SVP, joins the show to unpack how the fintech giant is building a long-term strategy around blockchain-based payments. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Show highlights: why PayPal decided to launch a stablecoin how long it will take for stablecoins to reach mainstream adoption and what the advantages of stablecoins are how PYUSD will differentiate from other giants in the stablecoin space such as USDT and USDC whether the U.S. stablecoin bill influenced the launch of PYUSD why stablecoins should be regulated at the state level whether PayPal plans to launch stablecoins pegged to other fiat currencies how Paxos will provide attestation reports for PYUSD why Jose thinks gaming is a huge opportunity for stablecoin payments what the rationale was for launching an ERC-20 on Ethereum how PayPal plans to monetize the stablecoin why PayPal’s expectations for PYUSD in the short-term are “moderate” Thank you to our sponsors! Crypto.com Arbitrum Foundation Thales DAO Guest José Fernández da Ponte, SVP of Blockchain, Crypto and Digital Currencies at PayPal Links Unchained: PayPal Launches PYUSD Stablecoin Built on Ethereum CoinDesk: PayPal’s Real Stablecoin Strategy: It Wants to Earn Interest on Your Deposits Congresswoman Maxine Waters Says She’s ‘Deeply Concerned’ About PayPal’s New Stablecoin U.S. Stablecoin Bill Takes Big Step Despite Fight From Democrats, White House Paxos Has Other 'White Label' Stablecoin Opportunities in the Works in Addition to PayPal USD Blockworks: PayPal’s new stablecoin stirs centralization criticism CNBC: PayPal is trying to drag its 435 million users into the $120 billion stablecoin market — here's 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 chop it up about the latest news. This week, a quiet conclusion to that Curve thing everyone was animated about. Plus, major developments from Web2 giant PayPal as it continues its journey down the crypto rabbithole. Also, is Maker’s juiced DAI Savings Rate the new Anchor? The gang discusses. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show highlights: how The Chopping Block got that sweet, sweet Red Bull money what to make of the Curve hacker’s message after they returned the funds does Curve trying to dox the hacker proves that Arkham’s model is right? the lessons from the Curve situation and whether DeFi needs to change how DeFi protocols could prevent situations where a single entity holds a significant percentage of a token’s total supply how the enhanced DAI Savings Rate triggered PTSD from other stablecoins (ahem, Anchor) what the consequences are of increasing the DSR the gang’s prediction on how much PYUSD will be minted by the end of 2023 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 Unchained: $52 Million Drained in Curve Finance Pools Exploit Curve Founder’s Liquidation Could Trigger Chaos for DeFi Curve Exploit Results in Largest MEV Block Rewards in Ethereum’s History PayPal Launches PYUSD Stablecoin Built on Ethereum MakerDAO’s Spark Protocol Blocks VPN Users Curve Opens $1.85 Million Bounty to Identify Hacker Learn more about your ad choices. Visit megaphone.fm/adchoices

Worldcoin is getting hit from all sides. Following a popular launch in late July, critics from the crypto community and public sector alike are coming out in droves with concerns about privacy, data protection, and tokenomics. Worldcoin co-founder Alex Blania joins the show to address the recent criticism and reiterate the project’s lofty goals. “It sounds crazy,” he said, “so you really need to understand the technology to understand why it’s not concerning. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Show highlights: why Worldcoin believes in the idea of a universal basic income (UBI) how World ID actually works, from the initial “orb” scan to actually using the app Alex’s comments on the rise of a black market for World IDs whether Worldcoin is storing people’s biometric data how people don’t really understand the nuances of getting their irises scanned and why it’s fine that the “average person will not understand how crypto works,” according to Alex whether Worldcoin took into consideration the various regulations around the world what the purpose of the WLD token is why the project decided to launch the token with a low float how Alex got convinced to join Worldcoin and become one of its leaders why Alex believes that Worldcoin will become a “very powerful technology” that will be the main project for onboarding people to crypto Thank you to our sponsors! Crypto.com Arbitrum Foundation TOKEN2049 Guest: Alex Blania, cofounder of Worldcoin Previous appearances on Unchained: Is Sam Altman's Worldcoin the End of People's Privacy? Links Previous coverage of Unchained on Worldcoin: Why CoinFund Believes Worldcoin Could Become More Popular Than Bitcoin Unchained: Worldcoin Can Be More ‘Widely Distributed’ Than Bitcoin, CoinFund Executives Say Worldcoin Launches Token on Mainnet, Plans to Deploy 1,500 Eyeball Scanning Orbs Is Sam Altman's Worldcoin the End of People's Privacy? CoinDesk: Worldcoin Could Enable Wider Distribution of Crypto Than Even Bitcoin, Says CoinFund Worldcoin Releases Tokenomics, Report Geofenced for Some Countries The Block: German authorities probe Worldcoin project over privacy: Reuters Reuters: Kenyan government suspends activities of Worldcoin in country Rest of World: Why are people lining up for Worldcoin eyeball scans? “Easy $50,” What do I think about biometric proof of personhood? By Vitalik Buterin MIT Technology Review: Deception, exploited workers, and cash handouts: How Worldcoin recruited its first half a million test users Ouriel Ohayon’s video Learn more about your ad choices. Visit megaphone.fm/adchoices

While it’s now mostly contained, the Curve crisis has exposed some of the systemic risks in the world of DeFi. Sam Kazemian, founder of Frax Finance, joins the show to discuss what DeFi needs to do to get better – and what builders should learn from a novel attack that was ultimately about much more than $50 million in drained funds. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Show highlights: how the Curve exploit occurred and why this hack is different how the attack triggered a crisis in major lending platforms like Aave, Fraxlend, and Abracadabra what Curve founder Michael Egorov’s solution was to the potential liquidation of his several loans whether this situation proves that DeFi is not as good as promised what can be done to prevent these kinds of issues in the future, particularly with large loans in DeFi that could potentially bring down the ecosystem Thank you to our sponsors! Crypto.com Railgun DAO Arbitrum Foundation Thales DAO Guest Sam Kazemian, founder of Frax Finance Links Previous coverage on the Curve hack: The Chopping Block: Who’s to Blame for the Curve Hack? Unchained: $52 Million Drained in Curve Finance Pools Exploit Curve Founder’s Liquidation Could Trigger Chaos for DeFi Curve Exploit Results in Largest MEV Block Rewards in Ethereum’s History CoinDesk: Curve Founder Deploys New Liquidity Pool to Address FRAX Debt Situation Spooked by Curve Liquidation Threat, DeFi Protocols Shore Up Defenses Aave Should Block Curve Token Borrowing, Risk Management Firm Proposes After the Curve Attack: What's Next for DeFi? Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to “The Chopping Block” – where crypto insiders Haseeb Qureshi, Tom Schmidt, and Tarun Chitra chop it up about the latest news. This week, Laurence Day, smart-contract sleuth and co-founder of Wildcat Finance, joins the show to discuss the ramifications of the Curve Finance exploit that has the DeFi world talking. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show highlights: how Curve Finance, one of the most prominent DeFi protocols, got hacked why maintaining different coding languages and clients is so hard whether developers are responsible for this kind of attack whether Curve founder Michael Egorov’s loans in Aave and Fraxlend have put DeFi at risk how the loan in Fraxlend impacted the liquidation price of the Aave loan Tarun’s reaction to the situation, given that his firm Gauntlet has tried to mitigate these risks in the past how people in the community worked together to keep DeFi safe and resilient why Tarun got canceled on LinkedIn what happened with the BALD meme coin mania on Base Hosts Haseeb Qureshi, managing partner at Dragonfly Tom Schmidt, general partner at Dragonfly Tarun Chitra, managing partner at Robot Ventures Guest: Laurence Day, co-founder of Wildcat Finance Disclosures Links Unchained: BALD Token Falls 90% Amid Rug Pull Allegations $60 Million in ETH Bridged to Coinbase Layer 2 Base Curve Founder’s Liquidation Could Trigger Chaos for DeFi $52 Million Drained in Curve Finance Pools Exploit Curve Exploit Results in Largest MEV Block Rewards in Ethereum’s History CoinDesk: Curve Founder Deploys New Liquidity Pool to Address FRAX Debt Situation Spooked by Curve Liquidation Threat, DeFi Protocols Shore Up Defenses Aave Should Block Curve Token Borrowing, Risk Management Firm Proposes After the Curve Attack: What's Next for DeFi? Learn more about your ad choices. Visit megaphone.fm/adchoices

CoinFund’s Jake Brukhman and Chris Perkins join Unchained to dissect their recent $158 million seed round and the transformation of the investment landscape following the 2022 crypto carnage. As backers of Worldcoin, they confront criticisms about the project's approach of distributing money to individuals who may not fully comprehend the underlying technology. They also delve into why the Coinbase lawsuit could potentially boost the industry, share their perspectives on current crypto legislation, and explore the intersection of AI and crypto. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Show highlights: how the fundraising crypto environment changed this past year after the 2022 carnage what the impact of FTX’s alleged fraud has been why Chris and Jake believe that the SEC’s lawsuit against Coinbase is bullish for the industry why Jake believes there's no massive consumer application in web3 yet how institutions have been building during the bear market whether Worldcoin solves the sybil resistance problem in crypto and whether it could become more decentralized than Bitcoin Jake's response to the criticism surrounding the centralization and privacy issues in Worldcoin the ethical implications of giving free money to people who may not fully understand how their biometric data is being used what the Composite Ether Staking Rate (CESR) is and what are its two main applications how the foundational web3 + AI intersection is happening in the compute area why Chris believes that the crypto market structure bill is not perfect whether creating proper stablecoin legislation is a very important opportunity for the US how DeFi should be regulated to ensure that privacy gets protected Thank you to our sponsors! Crypto.com Arbitrum Foundation TOKEN2049 Guests: Chris Perkins, President of CoinFund Jake Brukhman, Founder and CEO of CoinFund Links Unchained: Worldcoin Launches Token on Mainnet, Plans to Deploy 1,500 Eyeball Scanning Orbs Is Sam Altman's Worldcoin the End of People's Privacy? CoinDesk: Worldcoin Could Enable Wider Distribution of Crypto Than Even Bitcoin, Says CoinFund, Worldcoin Releases Tokenomics, Report Geofenced for Some Countries The Block: What exactly is CoinFund's new Composite Ethereum Staking Rate What do I think about biometric proof of personhood? By Vitalik Buterin CoinDesk Indices and CoinFund Announce CESR, the Benchmark Rate for Staking on Ethereum CoinFund Reinforces Commitment to Web3 Technology with the Close of $158M Seed IV Fund Learn more about your ad choices. Visit megaphone.fm/adchoices

Crypto markets are under the gun from SEC Chairman Gary Gensler’s ‘regulation by enforcement’ policy. Meanwhile, a divided political landscape creates gridlock on Capitol Hill. Democratic Representative Ritchie Torres (NY-15) claims regulators have overstepped their bounds, while generational divide in the Democratic party slows appropriate regulatory legislation from passing. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Show highlights: Why stablecoins are less dangerous than fractional reserve banking How the current system fails to protect retail investors Why Democrats and Republicans have flipped traditional stances on regulation Increased skepticism after the FTX meltdown Regulation by enforcement an abuse of power If and when a digital asset is an investment contract What he views as Prometheum’s planned political stunt Resolving crypto’s long term problems responsibly Thank you to our sponsors! Crypto.com Railgun DAO Ondo Finance Arbitrum Foundation Guest Ritchie Torres, U.S. representative Links Fortune: Ritchie Torres went from crypto ‘newbie’ to key ally in Washington. Now he could shape the industry’s post-FTX future NY Daily: A liberal case for cryptocurrency CoinDesk: Rep. Ritchie Torres: We've Seen a 'Weaponization of the SEC' From Gensler Against Crypto Industry U.S. Financial Service Committee: McHenry, Thompson, Hill, Johnson Release Digital Asset Market Structure Proposal Bloomberg Law: McHenry Says White House Torpedoed Bipartisan Stablecoin Deal NBC: Sen. Cynthia Lummis: Crypto regulation bill could prevent another FTX-style crisis Rep. Torres’s open letter to Gensler following the Ripple decision Rep. Torres’ speech Previously on Unchained Why the SEC Doesn’t Want the Ripple Case to Go to the Supreme Court New Order in SEC vs. Ripple Over XRP Is a Win for Crypto: What Happens Now? Why the SEC vs. Ripple Order Is Now About 2 Things: Coinbase and Congress 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 chop it up about the latest news. This week, they debate whether infrastructure is being over-invested in, explore the potential of UniswapX and the controversial launch of Worldcoin’s token, and dive into the curious world of hamster racing in crypto. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show highlights: why Tarun thinks EthCC Paris was much better than ETH Denver whether VCs are overinvesting in infrastructure why Haseeb believes that founders should focus on building applications rather than infrastructure whether the WRLD token is a new “Sam coin” what everyone thinks about Worldoin and the need to develop proof of personhood in crypto what is going on with hamster racing and whether this is the reason "normies hate crypto" UniswapX and its benefits (and tradeoffs) whether there is a shift toward intents-based trading 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 Unchained: Worldcoin Launches Token on Mainnet, Plans to Deploy 1,500 Eyeball Scanning Orbs UniswapX Launches With MEV Protection and Gas Free Swaps Is Sam Altman's Worldcoin the End of People's Privacy? Decrypt: You Can Now Bet Crypto on Hamster Races. What Could Go Wrong? What do I think about biometric proof of personhood? By Vitalik Buterin Paradigm: Intent-Based Architectures and Their Risks Learn more about your ad choices. Visit megaphone.fm/adchoices

Despite the doom and gloom, Placeholder VC partners Chris Burniske and Joel Monegro are highly bullish on the present moment. “We’re all going to look back on this period and remember it as fondly as we remember ‘18 and ‘19,” Monegro tells Laura Shin. The two long-term investors explain why the confluence of macroeconomic factors and crypto-native (and AI) innovations make this the ideal time to invest in a Web3 future. They cut their teeth on Bitcoin, they grew up with Ethereum; hear what they think is next. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Show highlights: why Chris says crypto’s four-year cycle will likely play out once again the role of interest rates in asset valuation whether the crypto industry has learned its lessons from the “crypto carnage” of 2022 whether there’s a future for KYC’d DeFi when failing in crypto should be considered a crime, as in the Do Kwon case what could happen with the rate hikes and how the macroeconomic environment affects the markets how the ruling in the Ripple case impacts the development of new crypto companies and user adoption whether Joel felt relieved by the ruling, considering Placeholder has invested in many tokens that were named as securities by the SEC what Joel thinks of the new crypto bill in Congress and how he wishes that smart contracts were used to self-regulate the industry what Joel and Chris think of the delicate situations of crypto giants such as Binance and DCG whether the fat protocol thesis still holds up and whether it colors Placeholder’s current investment thesis why most of the Layer 1s will become rollups, according to Chris why Chris is bullish on Solana, despite the massive collapse in value following the FTX debacle how NFTs will play a significant role in “establishing the provenance of content” whether AI agents will become crypto power users Thank you to our sponsors! Crypto.com Arbitrum Foundation TOKEN2049 Guests: Chris Burniske, partner at Placeholder VC Previous appearance on Unchained: 2022 in Review + How Cobie and Chris Burniske Are Playing the New Year Cobie and Chris Burniske on How to Navigate a Crypto Bear Market How To Value A Crypto Asset Joel Monegro, partner at Placeholder VC. Placeholder’s Joel Monegro on the Fat Protocols Thesis Links Fat Protocols by Joel Monegro The Blockchain Application Stack by Joel Monegro Decred Thesis by Joel Monegro and Chris Burniske WSJ: Binance Lays Off Over 1,000 Employees Binance Cuts Back Employee Benefits, Citing Decline in Profit CoinDesk: Unpacking the Latest Lummis-Gillibrand Bill Draft Reuters: US SEC accepts six spot bitcoin ETF proposals for review Learn more about your ad choices. Visit megaphone.fm/adchoices

If the SEC wants to appeal last week’s judgment in the Ripple case, it better act fast. So says Bill Hughes, regulatory chief at Ethereum booster ConsenSys and one of the many crypto policy pros assessing the ramifications of U.S. district judge Analisa Torres’ decision. The regulatory agency’s decision to appeal hinges on a number of factors, Hughes says, including that this Supreme Court will likely be unkind to SEC Chair Gary Gensler’s interpretation of how to regulate crypto. But of course, a political calculus is also in play, and suddenly U.S. lawmakers have a slew of crypto bills and amendments to choose from. How will it play out? Show highlights: whether the SEC is going to appeal the recent Ripple ruling and whether Judge Analisa Torres would allow it what the risks are for the SEC of taking the case to the Second Circuit why Bill believes that the SEC’s chances are not good at the Supreme Court what the motivation is behind the new DeFi bill in the U.S. Senate how that bill would impact the different stakeholders in a DeFi project why the crypto community should put its focus on the stablecoin and market structure bills first, according to Bill how the SEC has been dropping lawsuits days prior to Congressional debates about crypto Thank you to our sponsors! Crypto.com Railgun DAO Ondo Finance Arbitrum Foundation Guest Bill Hughes, senior counsel and director of global regulatory matters at ConsenSys. Links Previous coverage of Unchained on the Ripple case: Why the SEC vs. Ripple Order Is Now About 2 Things: Coinbase and Congress New Order in SEC vs. Ripple Over XRP Is a Win for Crypto: What Happens Now? The Chopping Block: Should XRP Holders Really Be Rejoicing? The SEC's Lawsuit Against Ripple and 2 Execs: What You Need to Know Ripple's XRP: Why Its Chances of Success Are Low CoinDesk: Ripple's Legal Win Means It's Time for Crypto to Stand Up to the SEC Unchained: U.S. Senate Bill Calls for Strict KYC and AML Regulations for DeFi SEC vs Ripple: Judge Rules XRP Sold on Exchanges Is Not a Security Bill’s thread on the Lummis-Gillibrand amendment S.Amdt.712 to S.2226 - 118th Congress (2023-2024) Learn more about your ad choices. Visit megaphone.fm/adchoices

XRP isn’t itself a security; it depends on how it’s sold. So said a federal judge last Thursday in the SEC vs. Ripple case and the implications are significant. Jake Chervinsky, chief policy officer at the Blockchain Association, and lawyer Kayvan Sadeghi, partner at Jenner & Block, join the show to discuss two major ramifications. One: U.S. District Judge Analisa Torres dealt a major blow to the legal theory underpinning the SEC’s case against Coinbase. Two: This order really “lights a fire” under U.S. lawmakers to act on a pair of crypto bills in Congress. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Show highlights: why this is an “extraordinary victory” for the industry, according to Jake whether Judge Torres made the right decision how the SEC could seek an interlocutory appeal to halt the case, though it’s unlikely what are the pending items in the case that need to be resolved why the order that Judge Torres issued is not a final judgment why it is more important to look at the transaction, not at the nature of the asset, to determine whether something should be deemed a security whether the SEC has the authority to call digital assets securities the significance of the “major questions doctrine” how the order in the Ripple case will affect other cases like the Coinbase one whether exchanges should re-list XRP why this case could be instrumental in steering the direction of crypto regulation in the U.S. whether other crypto tokens like SOL or MATIC should feel relieved with this new ruling why Jake says that this case will speed up the chances of crypto legislation getting passed what the differences are between the current crypto bills that are being proposed whether SEC Chair Gary Gensler should recuse himself from enforcement actions in the crypto industry Thank you to our sponsors! Crypto.com Arbitrum Foundation TOKEN2049 Guests: Jake Chervinsky, chief policy officer at the Blockchain Association Previous appearances on Unchained: The Chopping Block: Jake Chervinsky on How the SEC Has Lost Credibility All Things Crypto Regulation With Jake Chervinsky Everything You Need to Know About the Looming Battle Over Privacy in Crypto Can Crypto Be a Force in the Midterms? Yes, Say Kristin Smith and Jake Chervinsky Kayvan Sadeghi, partner at Jenner & Block and co-chair of the fintech and crypto assets practice. Links: Previous coverage of Unchained on the Ripple case: New Order in SEC vs. Ripple Over XRP Is a Win for Crypto: What Happens Now? The Chopping Block: Should XRP Holders Really Be Rejoicing? The SEC's Lawsuit Against Ripple and 2 Execs: What You Need to Know Ripple's XRP: Why Its Chances of Success Are Low SEC vs Ripple: Judge Rules XRP Sold on Exchanges Is Not a Security CoinDesk: Ripple, Crypto Industry Score Partial Win in SEC Court Fight Over XRP Ripple Labs Ruling Throws U.S. Crypto-Token Regulation into Disarray The Washington Post: Ripple ruling threatens SEC’s crypto regulation push Chair Gensler Must Recuse Himself From Digital Asset Enforcement Decisions - Blockchain Association 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 chop it up about the latest news. This week, crypto lawyer Stephen Palley joins an emergency live show to unpack Thursday’s judgment in the Ripple case. Crypto markets are pumping after a judge handed Ripple Labs a partial victory in its fight against the SEC. But is the jubilation warranted? “I can understand why people are happy,” said Palley, a partner at Brown Rudnick LLP. “I’m just a little more cautious on what happens next.” Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show highlights: why Judge Analisa Torres ruled that retail sales of XRP do not violate U.S. securities laws how the court denied summary judgment on some issues relating to Ripple’s Brad Garlinghouse and Chris Larsen why “Footnote 16” of the ruling was so “surprising,” according to Stephen whether the SEC will appeal the case and how that process could unfold why Coinbase, Kraken and other exchanges re-listed XRP and whether that’s a safe step whether Coinbase will cite the Ripple judgment in its lawsuit against the SEC how this ruling does not represent a binding precedent why, even though this is a win for Ripple, it shouldn’t be used for investment strategy why Haseeb thinks the SEC should “fire their press department” whether the SEC’s case is “stronger than people on Twitter might like to believe” how, if proven, the allegations against Celsius founder Alex Mashinsky are “straight-up fraud” why Stephen says that a lot of the enforcement activity focused on DeFi was an “absolute misuse of resources” Hosts Haseeb Qureshi, managing partner at Dragonfly Robert Leshner, founder of Compound Tom Schmidt, general partner at Dragonfly Tarun Chitra, managing partner at Robot Ventures Guest: Stephen Palley, litigation partner at Brown Rudnick Disclosures Links Previous coverage of Unchained on the Ripple case: New Order in SEC vs. Ripple Over XRP Is a Win for Crypto: What Happens Now? The SEC's Lawsuit Against Ripple and 2 Execs: What You Need to Know Ripple's XRP: Why Its Chances of Success Are Low Unchained: SEC vs Ripple: Judge Rules XRP Sold on Exchanges Is Not a Security Former Celsius CEO Alex Mashinsky Arrested in New York - Unchained Crypto CoinDesk: Ripple, Crypto Industry Score Partial Win in SEC Court Fight Over XRP Ripple Labs Ruling Throws U.S. Crypto-Token Regulation into Disarray The Washington Post: Ripple ruling threatens SEC’s crypto regulation push Learn more about your ad choices. Visit megaphone.fm/adchoices

The SEC and Ripple have been locked in a legal tug of war for years, stirring up waves of controversy and debate in the crypto community. Finally, Judge Analisa Torres has given an order establishing that XRP buyers trading on exchanges were not, in fact, engaging in a securities transaction, a decision that could have far-reaching implications for the industry. Lewis Cohen, co-founder of DLx Law, unpacks the details of this pivotal case and what it might mean for the future of cryptocurrency regulation. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Show highlights: why the SEC lawsuit against Ripple has such historical significance in the crypto industry how Judge Torres split the case into two categories why the 'programmatic buyers' did not meet the four prongs of the Howey test why the institutional sales constituted an investment contract what makes the Ripple case different from the Kik and Telegram cases whether the new ruling by Judge Torres will have an impact on how other crypto projects deal with their offerings why, in the event of an appeal, Lewis expects a Second Circuit decision to take at least one year whether Judge Torres' decision will impact the ongoing cases against crypto exchanges like Coinbase why Lewis thinks the XRP order will not change the likelihood that spot bitcoin ETFs get approved how there's no way to deal with information asymmetries in digital assets now Thank you to our sponsors! Crypto.com Railgun DAO Ondo Finance Arbitrum Foundation Guest Lewis Cohen, Cofounder DLx Law Previous appearances on Unchained: The Lummis/Gillibrand Crypto Bill: Is the ‘Ancillary Token’ Approach the Best Links Previous coverage of Unchained on the Ripple case: The SEC's Lawsuit Against Ripple and 2 Execs: What You Need to Know Ripple's XRP: Why Its Chances of Success Are Low CoinDesk: Ripple, Crypto Industry Score Partial Win in SEC Court Fight Over XRP The Ineluctable Modality of Securities Law: Why Fungible Crypto Assets Are not Securities Paradigm Files Amicus Brief in SEC’s Lawsuit Against Ripple The Block: Lummis, Gillibrand to introduce revised comprehensive crypto bill 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 chop it up about the latest crypto news. This week, the crew is joined by Goldfinch co-founder Blake West to talk about the momentum around asset tokenization. Whether it’s private credit (what Goldfinch specializes in) or U.S. Treasurys (what Robert’s new venture Superstate will tackle), real-world assets (RWAs) are en vogue among the crypto set. What’s driving this fresh interest in an old concept that has failed to take off? Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show highlights: how Blake got into RWAs why Robert launched his new company Superstate why Robert hates the term “real-world asset” why the only actual RWA in the blockchain space is the U.S. dollar, aka stablecoins why other non-native crypto assets have struggled to migrate onto blockchains how having on-chain T-bills could push demand for stablecoins why private credit is a good thing to bring on chain, according to Blake what the not-so-obvious benefits of bringing these things onto blockchains are whether Arkham’s model of de-anonymizing people goes against the ethos of crypto Hosts Haseeb Qureshi, managing partner at Dragonfly Robert Leshner, founder of Compound Tom Schmidt, general partner at Dragonfly Tarun Chitra, managing partner at Robot Ventures Guest: Blake West, cofounder of Goldfinch Disclosures Links Unchained: Compound Founder Creates ‘Superstate’ to Bridge TradFi and Blockchains Arkham Launches Bounty Marketplace to Trade Crypto Wallet Intel MakerDAO Mulls Proposal to Allocate $750 Million More to US Treasuries MakerDAO Has Brought in Real World Assets. Is It Worth the Risk? CoinDesk: Tokenized U.S. Treasurys Surpass $600M as Crypto Investors Capture TradFi Yield Learn more about your ad choices. Visit megaphone.fm/adchoices

In recent months, ChatGPT, Bard and other new artificial intelligence (AI) products have revolutionized numerous industries. But how this nascent technology can work with crypto and blockchain technology is still relatively unexplored. In this episode, Illia Polosukhin and Jason Warner delve into the transformative potential of AI and crypto coming together. They explore a wide array of applications, from AIs managing Decentralized Autonomous Organizations (DAOs), to DAOs being used to help open source AIs, to blockchain technology making the inner workings of AIs more transparent. Tune in to this episode for a deep dive into the fusion of AI and crypto. Show highlights: Illia's and Jason’s backgrounds, including how Illia’s work in artificial intelligence (AI) got him into crypto what AI actually encompasses and how to define it why Jason says that "it works right now, it's machine learning and if you're raising money, it's AI" how blockchains can facilitate the provision of resources for training data the problem of attribution in training AI models how OpenAI and Midjourney hold a lot of power at the moment, according to Illia why open source code helps build better AI systems how LLMs are being used to audit code in the blockchain ecosystem up to what point AI can be used for crypto trading why misinformation is a human problem, not an “AI problem,” and how blockchain technology can help solve this issue how blockchains can be used to verify facts to combat misinformation whether AI can help mitigate attacks on DeFi protocols how DAOS and AI can work together and whether AI can coordinate a company what’s missing in terms of infrastructure for DAOs to thrive with AI how to structure regulation with this rapidly evolving technology Thank you to our sponsors! Crypto.com Arbitrum Foundation TOKEN2049 OKX Guests: Illia Polosukhin, cofounder of NEAR. Previous appearance on The Chopping Block: The Chopping Block: Why AI Will Change the Course of History in Crypto Jason Warner, founder at Poolside. Links Op-ed by Illia: Blockchain can save the media - Blockworks CoinDesk: AI Can Generate a Trading Edge in Crypto Markets 10 Ways Crypto and AI Can Make Each Other Better (or Maybe Worse) Blockchain May Offer Answers for AI Challenges Former FTX.US President Brett Harrison's New Venture Is Seeking to Harness AI for Crypto Trading Blockchain Developer Platform Alchemy Releases AI-Powered Tools for Web3 Builders When AI and Blockchain Merge, Expect the Mundane at First Imagining the Future AI and Web3 Can Build World Economic Forum: Blockchain can help combat the threat of deepfakes. Here's how Cointelegraph: DAOs: Where humans may fail, AI could succeed Forbes: Convergence Of Web3, AI And Metaverse: Navigating The Great Reset For Investors, Learn more about your ad choices. Visit megaphone.fm/adchoices

In 2022, crypto crime hit an all-time high. A staggering $3.8 billion in crypto was stolen, with DeFi protocols bearing the brunt of these thefts, accounting for 82% of the total losses. Amid this alarming scenario, has a beacon of hope emerged in ERC-7265? The proposal aims to create a 'circuit breaker' safety layer for DeFi contracts, potentially revolutionizing security measures in the crypto space. Could this be the key to bolstering security and paving the way for mass adoption of DeFi? Will it essentially centralize protocols? Tune in to find out. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Show highlights: what ERC-7265 is meant to do and why they called it a 'circuit breaker’ how the idea would actually work on chain how this ERC could make DeFi applications more centralized, rather than decentralized what can be done to prevent small teams from seizing funds how different teams will be able to design the circuit breaker as they want what unsafe arbitrary calls and unprotected flows are why Philippe believes that this proposal will help newer teams improve their security how the ERC can pave the way for a more decentralized protocol what will it take for protocols to start adopting the new standard Thank you to our sponsors! Crypto.com Railgun DAO Ondo Finance Arbitrum Foundation Guest Philippe Dumonet, Cofounder of DeReg Links Chainalysis 2022 report The Block: Ethereum community proposes new standard to mitigate DeFi hacks Philippe’s thread on ERC-7265 Learn more about your ad choices. Visit megaphone.fm/adchoices

The ERC-721 token standard on Ethereum ignited the frenzied world of NFTs. Yet, as the dust settled, their limitations became apparent. Enter ERC-6551, a new standard designed to overcome these challenges. Benny Giang and Jayden Windle, cofounder and founding developer of Future Primitive, respectively, delve into the transformative potential of ERC-6551, a standard which allows every NFT to have a smart contract wallet associated with it. They discuss the exciting new possibilities it unlocks in the spheres of gaming, the metaverse, identity, messaging, and more. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Show highlights: what ERC-6551 is and how the idea was born the differences between NFT token standards the four big categories of applications for this new token standard why Benny thinks that "network playable characters" will solve many of the problems in the digital space how the token bound accounts work and whether they can interact with existing wallets the security implications of using ERC-6551 what Future Primitive does in the web3 space how creators can benefit from this new development whether it's possible for soulbound tokens to work with token bound accounts how blue chip NFT collections are using ERC-6551, if at all what could go wrong with token-bound accounts that are combined with AI what new things are being envisioned with this new standard Thank you to our sponsors! Crypto.com Arbitrum Foundation TOKEN2049 OKX Guests: Benny Giang, cofounder of Future Primitive Jayden Windle, founding developer of Future Primitive Previous appearance on Unchained: Your NFTs Can Do Much More Than You Think Links ERC-6551: Non-fungible Token Bound Accounts Tokenbound ERC 6551 — Token Bound Accounts. Every NFT will have their own wallets… by Benny Giang Unchained: How Soulbound Tokens Could Reduce Speculation and Improve DAO Voting - Quadratic Funding Could Account Abstraction Make Self-Custody Easier for Crypto Users? Ethereum Implements Account Abstraction With ERC-4337 What Can You Do in the Metaverse? Exploring the NFT blue chips What is the metaverse? What Is an NFT Marketplace? Learn more about your ad choices. Visit megaphone.fm/adchoices

From “hush money” allegations to a prospective FTX relaunch, it’s been a crazy week for those following the legal saga of Sam Bankman-Fried’s collapsed crypto empire. Perhaps few are following it more closely than 507 Capital founder Thomas Braziel, who specializes in the trading of bankruptcy claims. He explains the significance of a spate of recent headlines and shares newsworthy tidbits from his meeting with new FTX honcho John J. Ray III. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Show highlights: what the Daniel Friedberg lawsuit revealed about the whistleblowers of FTX how FTX used allegedly false claims in its Series C funding round whether Friedberg’s former law firm, Fenwick & West, will suffer legal consequences how John Ray is prosecuting the allegedly fraudulent transactions made by FTX what stood out to Thomas in his personal dealings with John Ray what the timeline is for filing a reorganization plan for FTX what the odds are of an FTX 2.0 relaunch, according to Thomas why Thomas says that FTT won’t play a role in the potential FTX recovery whether the decision to redact the identities of FTX customers was right Thank you to our sponsors! Crypto.com Proton Railgun DAO Guest Thomas Braziel, Founder of 507 Capital Previous appearances on Unchained Will FTX Customers Ever Recover Their Assets? Two Insolvency Experts Weigh In Will Celsius Survive the Bankruptcy Process? How Crypto Bankruptcy Claims Buyers Will Profit From the Collapse of FTX Links Previous coverage of Unchained on Sam Bankman-Fried and FTX: The Chopping Block: Was FTX a Scam From the Very Beginning? How Much Prison Time Is FTX’s Sam Bankman-Fried Facing? Why the Legal Process for FTX and Sam Bankman-Fried Could Take Years The Chopping Block: SBF Wants to Win in the Court of Public Opinion. Will He? Jesse Powell and Kevin Zhou on How FTX and Alameda Lost $10 Billion Is the Collapse of Crypto Lending Over, or Is It Just Starting? Did the Bahamian Government Direct SBF and Gary Wang to Hack FTX? The Chopping Block: Why Lenders Didn’t Liquidate Alameda When It Was Underwater Erik Voorhees and Cobie on Why FTX Loaned Out Customers’ Assets The Chopping Block: FTX: The Biggest Collapse in the History of Crypto? Sam Bankman-Fried on How to Prevent the Next Terra and 3AC CoinDesk: FTX Customers Have Until End-September to Submit Bankruptcy Claims Unchained: FTX Sues Former Compliance Chief Who Allegedly Silenced Whistleblowers FTX Stops Sale of $500 Million Stake in AI Firm Anthropic: Report FTX Recovers $7 Billion in Assets in Liquid Assets WSJ: FTX Begins Talks on Reboot Amid Regulatory Crackdown on Crypto Exchanges Bloomberg: Bankman-Fried's FTX Halts Sale of $500 Million AI Startup Anthropic Stake 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 chop it up about the latest crypto news. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show highlights: why the Azuki new NFT collection 'Elementals' caused such a controversy among holders why Robert bought an Elemental and what was he expecting who the Michael Milken of NFTs is, according to Tarun how BitGo 'pulled a Binance' on Prime Trust how Prime Trust, a crypto custodian, collapsed and was put into receivership whether what Prime Trust did can be considered fraud and how the situation highlights DeFi's 'long term advantage' why the majority of blockspace is EVM-compatible what the problems are with current Layer 2 rollups such as Optimism and Arbitrum why rollups are so 'political' in the Ethereum ecosystem what makes Arbitrum better than Optimism, according to Tarun what shared sequencers are and whether they will be the future in crypto Why Haseeb is not so bullish on the app-chain thesis 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 Unchained: Polygon Cofounder Proposes Upgrading PoS Chain to zkEVM Validium The Block: Azuki NFT collections ends Elemental mint with $37.5 million Fidelity preparing to submit spot bitcoin ETF filing: Source CoinDesk: Azuki NFT Prices Slide 44% After Creator Releases 'Basically Identical' Elementals Nevada Files to Place Crypto Custodian Prime Trust Into Receivership Azuki’s thread on its situation Learn more about your ad choices. Visit megaphone.fm/adchoices

Aaron Kaplan, co-CEO of Prometheum, the trading platform that recently acquired a special-purpose broker dealer license for digital asset securities, has become a major lightning rod in the crypto community. Does the firm represent, as Kaplan has argued, a compliant path forward for crypto in the United States? Or, as Paradigm Special Counsel Rodrigo Seira maintains, does it only demonstrate that the SEC’s crypto regime is simply unworkable? The two join the show to debate the specifics – and it certainly gets heated. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show highlights: whether it is even possible to compliantly register a crypto exchange in the U.S. following SEC Chair Gary Gensler’s recent public statements which tokens Prometheum can list, if any why Rodrigo and Aaron disagree over what constitutes a security whether the Howey Test applies in secondary market transactions for tokens sold pursuant to a SAFT why Aaron says that Paradigm should reassess its entire thesis and that the status quo benefits venture capital firms like Paradigm why Rodrigo says Prometheum has a license, but not a business who would be responsible for providing required disclosures for a decentralized network like Ethereum how many tokens Aaron expects to list on the Prometheum platform whether Aaron and Prometheum had specific discussions with the SEC about what tokens are securities Aaron’s response to allegations that the Chinese Communist Party is infiltrating the U.S. financial system through Prometheum whether Aaron had previewed the questions he was asked by representatives in his Congressional hearing what they believe should be included in disclosures about tokens if federal securities laws didn’t exist and guidelines for disclosures were written from scratch what Aaron has to say about the Blockchain Association’s recent FOIA request whether Prometheum is open to being acquired by other entity Thank you to our sponsors! Crypto.com TOKEN2049 OKX Guest: Aaron Kaplan, co-CEO and co-founder of Prometheum. Previous appearance on Unchained: These 2 Crypto Trading Platforms Agree With SEC Chair Gary Gensler Aaron’s written testimony Rodrigo Seira, special counsel at Paradigm. Rodrigo’s thread on Prometheum Links Unchained: Crypto Community Unearths Questionable History of SEC-Aligned Prometheum Former SEC Cyber Chief Calls the Agency’s Way of Labeling Tokens Securities ‘Not Fair’ Investopedia: Schwab and Fidelity-Backed Crypto Exchange EDX Goes Live, Adds More Backers CoinDesk: Gary Gensler’s Catch-22 Vision of ‘Regulated’ Crypto Brokers Key Takeaways From House Hearing on Future of Digital Assets The Crypto Basic: Prometheum Founder Says SEC Will Win Ripple Lawsuit, XRP Community Reacts Digital Asset Investor’s video on SEC setting up a Chinese back door into crypto Thread from Blockchain Association’s Marisa Coppel Adam Cochran points out a slew of details that call Prometheum into question. Matt Walsh questions how Kaplan can be called a securities expert since the law school he earned his degree from is now unaccredited by the American Bar Association. A clip from Aaron’s exchange with U.S. Rep Mike Flood 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 chop it up about the latest crypto news. With BTC topping $30,000, the gang tackles the apparent surge in institutional bitcoin interest, with BlackRock’s spot ETF application spawning a bumper crop of similar bids. Why did all these TradFi players act at the same time? That, plus a look at the drama surrounding SEC-friendly Prometheum’s Congressional testimony and what Haseeb and Robert see as the trading platform’s many “red flags.” Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show highlights: the not-so logical reasons why the markets are up whether GBTC’s ETF conversion will also get approved if BlackRock’s bitcoin ETF gets the SEC go-ahead how all the applications were ready and were “waiting for some sign,” according to Robert whether Grayscale will have to sell the underlying assets of its GBTC trust why a bitcoin spot ETF is more retail-friendly than a bitcoin futures one how plausible it is that London becomes a leading crypto hub the drama around Prometheum’s testimony before Congress the “shady” details of Prometheum’s track record, according to Haseeb why Tarun says that the venture-funded exchanges have “completely failed on many different levels” and what tokens he would list what happened with Curve founder Michael Egorov’s loan on Aave and why Gauntlet, Tarun’s company, advocated freezing the CRV market in the lending protocol why the Aave community rejected the proposal 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 Unchained: 3AC Founders Launch Venture Capital Firm Binance.US Briefly Displays Bitcoin Price at $138,000 Invesco and WisdomTree Follow BlackRock, Reapply for Bitcoin ETFs ​​BlackRock Files for Bitcoin Spot ETF - Coinbase WSJ: Crypto Exchange Backed by Citadel Securities, Fidelity, Schwab Starts Operations Cointelegraph: Blockchain Assoc. requests info on Prometheum over ‘suspicious’ approval Aave proposal to freeze alleged Curve founder’s loans draws controversy CoinDesk: Andreessen Horowitz (a16z) Chooses U.K. as Destination for First Office Outside U.S. Learn more about your ad choices. Visit megaphone.fm/adchoices

The SEC has swatted down so many spot bitcoin ETF applications that crypto diehards simply gave up caring. Then comes TradFi giant BlackRock – at the height of the SEC’s crypto crackdown, no less – with an ETF application that has seemingly changed the calculus. Bloomberg Intelligence ETF watcher James Seyffart joins the show to unpack the odds of BlackRock being the first to win approval, and what it would mean for other players in the space chasing down TradFi’s “holy grail.” Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show highlights: why the SEC rejected all of the previous bitcoin spot ETF applications what makes the application from BlackRock, the world’s largest asset manager, different what a 19b-4 filing is and how it relates to the BlackRock application whether BlackRock “knows something,” considering the recent enforcement actions against major crypto exchanges why being a first mover is a considerable advantage in the ETF market whether BlackRock choosing Coinbase as a custodian is a risk, given that the SEC is in a legal battle with Coinbase what’s different about a spot bitcoin ETF, and why a bitcoin futures ETF is not enough what are the differences between the applications filed by BlackRock, Invesco, WisdomTree and Valkyrie which are the applications that are most likely to be approved, according to James what the impact will be of Grayscale’s lawsuit against the SEC over the denial of its proposal to convert GBTC to an ETF why James says that Gary Gensler could be thinking like a politician as it relates to spot bitcoin ETFs Thank you to our sponsors! Crypto.com Copilot Money ProtonMail Guest James Seyffart, Research analyst at Bloomberg Intelligence Links Previous coverage of Unchained on the topic: Grayscale v. SEC: Who Won This Week’s Hearing? Why Grayscale Is Suing the SEC Over Its Denial of a Bitcoin ETF $5 Billion in AUM: Why Growth at Grayscale Exploded in the Last Quarter Bitwise’s Latest Plans to Get a Bitcoin ETF Approved DCG’s Dilemma: Should It Sell Its GBTC Holdings to Repay Gemini? The Block: BlackRock ETF launch would put pressure on Grayscale's valuation: Bloomberg analyst CoinDesk: A Straightforward Explanation for Why Financial Giants Want to Issue a Spot Bitcoin ETF Unchained: Invesco and WisdomTree Follow BlackRock, Reapply for Bitcoin ETFs ​​BlackRock Files for Bitcoin Spot ETF Valkyrie Applies for Bitcoin Spot ETF ‘BRRR’ Reuters: Cboe files with U.S. SEC for third time to list ARK 21Shares Bitcoin ETF US court questions SEC's rejection of Grayscale's bitcoin fund proposal Barron’s: ETF: Invesco, WisdomTree Join Push. Why It Might Happen. Blockworks: BlackRock, then Bitwise — How the spot bitcoin ETF filings differ Learn more about your ad choices. Visit megaphone.fm/adchoices

The announcement of the upcoming launch of Uniswap v4 sparked fresh versions of old debates. Is it OK for DeFi’s leading DEX to not be fully open source at launch? What counts as composability and what counts as plagiarism? Is Uniswap’s dominance a threat to decentralization? Founder Hayden Adams joins the show to respond to the critics and explain the novel features of Uniswap v4. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show highlights: how Uniswap was born and how it has evolved since 2018 how the SushiSwap vampire attack was a win for Uniswap whether the new version of Uniswap brings it closer to the true ethos of Ethereum what the problems were with the previous fee model and how the new v4 approaches fee tiers an explanation of “hooks,” the most important feature of the new code what Hayden thinks the most common uses of hooks will be how v4’s time-weighted average market maker (TWAMM) feature works whether Hayden is worried that hooks will be engineered to do rug pulls what Hayden thinks about v4’s new “singleton” approach how EIP-1153 (if implemented) will make Uniswap v4 more efficient when Hayden estimates that the v4 code will be deployed why Uniswap decided to go with a four-year business license Hayden’s response to allegations that Uniswap plagiarized Crocswap for its v4 code whether there’s a risk that U.S. authorities blacklist certain transactions on v4 whether it is possible to add KYC and AML compliance into v4 pools why Hayden is sad about the U.S. approach to regulating crypto why he believes that Uniswap will not become a centralizing force Thank you to our sponsors! Crypto.com TOKEN2049 OKX Guest: Hayden Adams, founder of Uniswap Links Unchained: Uniswap Releases Draft Code for V4 Uniswap V3 Forks Are Now Legal After BSL Expiry Liquidity Pools: How DEXes Allow Trading Uniswap: Our Vision for Uniswap v4 EIP-1153: Transient storage opcodes v4-core/LICENSE at main · Uniswap/v4-core · GitHub Frax Finance’s Sam Kazemian tweet TWAMM - Paradigm Learn more about your ad choices. Visit megaphone.fm/adchoices

SEC Commissioner Hester Peirce has a reputation in the industry for being more supportive of crypto than her peers. After a rough year for the industry, Peirce weighs in on whether the agency was right in recently naming several crypto tokens as securities, the state of the current regulatory framework, and the slow pace of change. “All I can say is that I’ve been at the agency for over five years, and it’s very frustrating to me that in that time we haven’t done something more productive,” Peirce tells Unchained. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show highlights: what would Peirce do to regulate crypto if she were chair of the SEC whether the SEC was right in alleging that SOL, ADA, MATIC, and more are securities why Peirce says the SEC’s current approach will take many years to find a resolution whether special purpose broker-dealer licenses are a solution why Peirce believes that the existing regulatory framework is not enough to oversee digital assets her views on the pressing need to find a way to make existing regulations comport with a technology that doesn’t require intermediaries whether the fact that many SEC employees worked on the Hinman speech reflects the opinion of the agency as a whole why Peirce is “very frustrated” after five years of working at the SEC why she’s been seen as the “Crypto Mom” and why she thinks it’s so important to provide a clear regulatory framework Thank you to our sponsors! Crypto.com Copilot Money Proton Guest Hester M. Peirce, SEC Commissioner Links Previous coverage of Unchained on the topic: The Chopping Block: Jake Chervinsky on How the SEC Has Lost Credibility These 2 Crypto Trading Platforms Agree With SEC Chair Gary Gensler ‘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’ Unchained: SEC Sues Coinbase for Breaking Securities Laws SEC Files 13 Charges Against Binance Including the Mishandling of Funds, Sale of Unregistered Securities SEC Calls Solana, Polygon, Algorand and Other Tokens Securities but Misses Ether in Binance Lawsuit US House Republicans Propose Bill That May Give Crypto Assets a Path to Becoming Commodities Coinbase Seeks to Compel SEC Response to Rulemaking Petition The Block: Ripple calls for investigation into former SEC official after document release Former SEC director Hinman's plan to call Vitalik Buterin revealed in suit SEC comments on Hinman speech released in Ripple Labs filing WSJ: Who Is Brian Armstrong? Coinbase CEO Is Taking On the SEC 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, chop it up about the latest news. In this episode, Robert stirs the debate over Hinman's 2018 speech and what it means for the debate at the SEC over whether BTC and ETH should be considered securities, the similarities between Ethereum and Solana, and how Binance.US is dealing with a move to freeze its assets. Moreover, the group kicks off with a brief history lesson on the infamous PEPE meme! Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show highlights: where the PEPE meme comes from whether Mark Zuckerberg and the project Libra played a role in the animosity toward crypto why Robert says that Hinman's speech in 2018 was crafted with broad inter-agency work, in contrast to what the SEC has been saying how the documents show that the SEC didn't believe there was enough clarity to classify ETH as a security whether these documents diminish Gary Gensler's claims that almost everything in crypto is a security the similarities between Ethereum in 2017 and Solana at the moment what the drama is in Solana around forking Alameda coins what the new features of the Uniswap V4 draft code are whether the 'hooks' in the new code facilitate rug pulls and introduce much more complexities how Binance.US has dealt with the SEC lawsuit and request to freeze its assets Robert's crazy idea to use Uniswap V4 and why Tarun killed it what extreme sports represent crypto more accurately 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 Unchained: SEC Anticipates Responding to Coinbase Petition in 120 Days Binance.US and SEC Work On Deal to Avoid Total Asset Freeze: Report Binance.US Says SEC’s Request to Freeze Assets Would End Crypto Exchange Binance, Coinbase and Binance.US Record $4 Billion in Weekly Outflows Uniswap Releases Draft Code for V4 The Block: Ripple calls for investigation into former SEC official after document release Former SEC director Hinman's plan to call Vitalik Buterin revealed in Ripple lawsuit SEC comments on Hinman speech released in Ripple Labs filing Learn more about your ad choices. Visit megaphone.fm/adchoices

On June 1, Hong Kong implemented new crypto regulations to license exchanges. Two experts – Angelina Kwan, CEO of Stratford Finance (and former COO of BitMEX), and Adrian Lai, founder and managing partner of Newman Capital – weigh in on the new rules in Hong Kong, which tokens can be listed, recent reports that China may be sanctioning this activity, and how the crypto community is responding so far. Plus, they dissect the latest developments of the digital yuan, whether China will ever embrace public blockchains, and the shifting global regulatory landscape for crypto, and more. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show highlights: Angelina’s and Adrian’s backgrounds in crypto in Hong Kong how crypto in Hong Kong has evolved over the years what the new Hong Kong Securities and Futures Commission (SFC) rules consist of, including which tokens will be allowed in the newly licensed exchanges how the Hong Kong Monetary Authority (HKMA) has taken onboarding crypto companies in the banking system very seriously why Angelina says that crypto companies have already stopped leaving Hong Kong how some people are worried how a potential crackdown on crypto in China could affect Hong Kong why the SFC has committed to issuing a paper on tokenization and why it is particularly interested in real estate the importance of the development of the digital yuan whether the new regulations in Hong Kong mean that China is prepared to adopt crypto in the mainland how China is 'excelling' at adopting real-world use cases, according to Angelina why you can't say “NFTs” in China and why the metaverse represents a “huge problem,” according to Adrian whether China will let public blockchains succeed how the global regulatory landscape has been changing and what it means for the future of digital assets whether Africa is the next frontier of growth and what role the Middle East is playing Thank you to our sponsors! Crypto.com TOKEN2049 Guests: Angelina Kwan, CEO of Stratford Finance Adrian Lai, founder and managing partner of Newman Capital Links CoinDesk: Hong Kong Securities Regulator to Accept License Applications for Crypto Exchanges Starting June 1 How Hong Kong Is Gearing Up to Regulate Stablecoins Cointelegraph: Hong Kong’s regulatory lead sets it up to be major crypto hub China doles out millions in digital yuan in bid to boost adoption: Report Chinese city public servants to receive digital yuan salaries starting May TechCrunch: Hong Kong’s crypto rules help it fit in more than stand out, but experts say that’s good A peek into China’s stance on web3 CNBC: One country, two crypto systems: Hong Kong harbors crypto hub ambitions despite China’s crackdown Bloomberg: Hong Kong’s Crypto Hub Ambitions Win Quiet Backing From Beijing Hong Kong Securities and Futures Commission: SFC concludes consultation on regulation of virtual asset trading platforms South China Morning Post: Hong Kong’s crypto market will not have ‘light-touch regulation’, HKMA chief says as city prepares new rules Forkast: China: Zhengzhou City proposes metaverse plan Learn more about your ad choices. Visit megaphone.fm/adchoices

On Monday, it was Binance. On Tuesday, Coinbase. Electric Capital General Counsel Emily Meyers joins the show to read between the lines of an action-packed week for Gary Gensler’s SEC. Meyers lends her lawyerly eye to the key differences between the two lawsuits, the SEC’s potential strategy, and whether federal legislation will beat the courts in providing clarity. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show highlights: why Emily thinks the SEC’s actions don’t represent the end of crypto in the U.S. what the similarities and differences are in the lawsuits against Coinbase and Binance why it’s fundamental to the SEC’s allegations that the court determines that at least one of the named tokens is in fact a security whether Coinbase and Binance will file motions to dismiss whether allegations against Binance are comparable to those against FTX whether Gary Gensler’s interactions with Binance in 2019 raise ethical questions about his involvement in the case why Emily thinks that Gensler’s approach to crypto is not aligned with the SEC’s mission to protect investors why the SEC allowed Coinbase to go public and is now suing them how the SEC sued Coinbase only after the exchange sued the agency first whether the Third Circuit will press the SEC to issue the rules that Coinbase has petitioned for why Emily believes that there’s not an effective path for crypto companies to properly register in the U.S. why the SEC has listed large-market-cap tokens such as SOL, ADA, and MATIC but has not gone after ETH Thank you to our sponsors! Crypto.com Copilot Money Proton Guest Emily Meyers, general counsel at Electric Capital Links Previous coverage of Unchained on the topic: The Chopping Block: Jake Chervinsky on How the SEC Has Lost Credibility 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’ LINKS Unchained: SEC Sues Coinbase for Breaking Securities Laws SEC Files Motion to Freeze Binance’s Assets, Asks for ‘Sworn Accounting’ SEC Files 13 Charges Against Binance Including the Mishandling of Funds, Sale of Unregistered Securities SEC Calls Solana, Polygon, Algorand and Other Tokens Securities but Misses Ether in Binance Lawsuit US House Republicans Propose Bill That May Give Crypto Assets a Path to Becoming Commodities Coinbase Seeks to Compel SEC Response to Rulemaking Petition CoinDesk: SEC Seeks Temporary Restraining Order to Freeze Binance.US Assets Crypto Exchange Binance Says Gensler Once Offered to Be an 'Informal Advisor' Binance Redirected $12B to Firms Controlled by CEO Changpeng Zhao, SEC Says Fortune: Former Coinbase employee and his brother settle with the SEC, which again dodges proving whether cryptocurrencies are securities 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, chop it up about the latest news. In this episode, the Blockchain Association’s Jake Chervinsky breaks down the cases against Binance and Coinbase – and how they are different from FTX – what it means for the crypto industry, and who may be next. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show highlights: Why Jake believes that the Binance lawsuit didn’t present major surprises Whether the SEC is trying to ban the crypto industry by enforcement How Binance has been allegedly doing a huge amount of wash trading Whether Gemini is next on the SEC’s enforcement action list How CZ and Coinbase CEOs have responded to the complaints How the market reacted to the lawsuits What the differences are between the Binance case and FTX Why the SEC is alleging that Coinbase is operating as an unregistered broker, exchange, and clearing agency Whether token issuers can bring action against the SEC for harming their business or reputation Whether the crypto industry doesn’t take the SEC seriously Whether the EOS settlement in 2019 shows how inconsistent the SEC has been in its crypto enforcement actions Whether these cases will have an impact in Congress and accelerate legislation What would happen if Gary Gensler stops being the chair of the SEC Hosts Haseeb Qureshi, managing partner at Dragonfly Robert Leshner, founder of Compound Tom Schmidt, general partner at Dragonfly Tarun Chitra, managing partner at Robot Ventures Guest Jake Chervinsky, chief policy officer at the Blockchain Association Previous Unchained Appearances: Can Crypto Be a Force in the Midterms? Yes, Say Kristin Smith and Jake Chervinsky Everything You Need to Know About the Looming Battle Over Privacy in Crypto All Things Crypto Regulation With Jake Chervinsky Disclosures Links Unchained: SEC Sues Coinbase for Breaking Securities Laws SEC Files Motion to Freeze Binance’s Assets, Asks for ‘Sworn Accounting’ SEC Files 13 Charges Against Binance Including the Mishandling of Funds, Sale of Unregistered Securities SEC Calls Solana, Polygon, Algorand and Other Tokens Securities but Misses Ether in Binance Lawsuit US House Republicans Propose Bill That May Give Crypto Assets a Path to Becoming Commodities Fortune: Former Coinbase employee and his brother settle with the SEC, which again dodges proving whether cryptocurrencies are securities Learn more about your ad choices. Visit megaphone.fm/adchoices

Wallet security was in the spotlight after the announcement of Ledger Recover, but the crypto community doesn’t need to “freak out,” according to Itai Turbahn, co-founder and CEO of Dynamic Labs, and Ouriel Ohayon, CEO of ZenGo. The two CEOs join the show to talk about the challenges of bringing self-custody to the masses. For many, “not your keys, not your coins” is actually “your keys, your problem.” Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show highlights: the problems that may arise when managing your own keys the misconceptions that people have about hardware wallets why Ouriel says that Ledger is going in the right direction but made a major mistake how multi-party computation can be a solution to the problem of securing your own keys what are other ways to solve it, such as Shamir’s secret sharing (SSS) and multisigs the tradeoffs between security and user experience how Dynamic Wallet works by linking multiple wallets to a single account whether “passwordless authentication” is the future of security how can users protect themselves from “bad transactions” and what are companies doing to help whether open source contributes to more security in the wallet landscape how account abstraction will change the user experience whether security is the key to the future of crypto Thank you to our sponsors! Crypto.com Guests: Itai Turbahn, cofounder and CEO of Dynamic Labs Ouriel Ohayon, CEO of ZenGo Previous appearance on Unchained: ZenGo: A Self-Custodial Wallet Minus the Risk of Losing Your Keys Previous coverage of Unchained on wallets: The Ugly Tradeoffs of Ledger’s New Recovery Service Links What is ZenGo Recovery Kit? Cointelegraph: Multiparty computation could offer increased protection for crypto wallets I run a Ledger competitor — But I support it in blow-up over keys Unchained: ‘Backdoor’ for Seed Phrases? Ledger’s New Recovery Feature Spooks Users Tweet from Ouriel that explains the differences between ZenGo and Ledger Solving the crypto adoption problem: making crypto *actually* usable Multi-Party Computation (MPC) Technology Can Ensure Effective Fraud Detection | Nasdaq Web3 Auth 101: What is wallet-based authentication? 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, chop it up about the latest news. In this episode, the gang answers audience questions, digs into the discourse around rollups, and debates whether modular blockchains will vanquish existing monoliths. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show highlights: How someone asked people to just give them money, and raised over $1 million Answering audience questions from Twitter, including ‘what’s Tarun’s favorite drug?’ Whether there’s tension between Haseeb and Tarun How the incoming generations of crypto people (e.g. “Class of 2017”) have changed over the cycles The five-level explainer on what a rollup is Why everyone’s debating the ontology of rollups and why Haseeb still thinks blockchains are like religions Tarun’s take on the modular blockchain thesis and why Haseeb is skeptical Whether app chains like the ones in Cosmos will become dominant Whether one of the top 4 chains will be modular in the next five to 10 years 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 Binance Feed: Bored Ape NFT Holder Ben.eth Launches Third Crusade of Memecoin Psychopathy Rollups, Rigor, and Reality by Kelvin Fichter Rollups Are L1s (& L2s) a.k.a. How Rollups *Actually Actually Actually* Work by Jon Charbonneau Haseeb’s question on Twitter Previous episode of The Chopping Block on the L1 debate: Why Are We Still Building Layer 1s? Learn more about your ad choices. Visit megaphone.fm/adchoices

If a year in crypto is like a decade in other industries, then Laura Shin has seen a lot. To commemorate the 500th episode of “Unchained” (actually, there’s about 150 more under a different brand name), Laura hops on the other side of the microphone to field questions from Unchained Contributing Editor Zack Seward about standout moments dating back to 2018. From the early rise of Binance to a charged interview with Terra founder Do Kwon, Shin takes you behind the scenes for rare insights into her process, her favorite moments, and how key episodes have aged. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Highlighted episodes: Sept. 25, 2018: How Binance Became the Most Popular Crypto Exchange in 5 Months March 26, 2019: Vitalik Buterin on Whether or Not Ethereum Is ‘Blowing It’ April 8, 2022: Here’s Why USDN De-Pegged From the Dollar – And Why UST Might Too Dec. 23, 2022: Martin Shkreli Explains Why Sam Bankman-Fried Got Lucky With His Judge Aug. 3, 2021: Can a DeFi Smart Contract Be Regulated? Two CFTC Commissioners Discuss May 23, 2023: Ex-CFTC Commissioner Berkovitz Says ‘DeFi Should Be Regulated’ – But How? March 18, 2022: Punk6529 on the Significance of Bored Ape Yacht Club and CryptoPunks Oct. 18, 2022: Do Kwon of Terra: ‘It Was Never Really About Money or Fame or Success’ July 31, 2018: Meltem Demirors and Jill Carlson on the Shitcoin Waterfall Aug. 10, 2021: Is ETH on Its Way to Becoming Ultra-Sound Money? Yes, Says Justin Drake Dec. 28, 2021: Why NFT OG Mitchell Chan Has Released Just One Project This Year Oct. 28, 2022: The Mango Markets Attacker on Whether His ‘Trade’ Was Ethical or Not Feb. 7, 2018: Xapo’s Wences Casares on How Bitcoin Makes a Fairer World Thank you to our sponsors! Crypto.com Copilot Money Learn more about your ad choices. Visit megaphone.fm/adchoices

“Lack of regulatory clarity” is the catchall complaint levied against U.S. regulators by most major players in the crypto industry. But the founders of Bosonic and Prometheum disagree. Both firms have spent years chasing the necessary regulatory approvals to compliantly trade digital assets, including those seen as securities. Last week, Prometheum secured a potentially landmark approval to operate as a special purpose broker-dealer for digital asset securities. Prometheum co-founder Aaron Kaplan and Rosario Ingargiola, founder of Bosonic, which earlier secured a similar approval, discuss why big players like Coinbase need to quit carping in the court of public opinion and do the hard work of getting approved. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show highlights: what Bosonic and Prometheum Capital do how Aaron and Rosario started working in crypto what it means to be a special purpose broker-dealer what the three-step letter from the SEC is and why it's relevant for scaling a digital asset business how exchanges work in traditional finance and how crypto differs why Aaron believes there’s a “pathway forward for crypto in the U.S.” whether the argument that there’s a lack of regulatory clarity is convenient for crypto incumbents why Aaron agrees with SEC Chair Gary Gensler on his stance that everything except BTC is a security how a token registration would work and what the nuances would be why Coinbase’s approval to be a publicly traded company does not mean that the SEC is in line with the business whether ETH is a security, with Aaron arguing it is and Rosario saying it’s a commodity what the different requirements are for national securities exchanges and alternative trading systems what Aaron and Rosario would tell existing crypto companies as it relates to compliance whether regulation kills innovation Thank you to our sponsors! Crypto.com Guests: Aaron Kaplan, co-CEO and co-founder of Prometheum Rosario Ingargiola, Founder and CEO of Bosonic Previous coverage of Unchained on crypto regulation: Ex-CFTC Commissioner Berkovitz Says ‘DeFi Should Be Regulated’ – But How? ‘Is ETH a Security?’ Why Gary Gensler Couldn’t Give Congress a Straight Answer Coinbase's Legal Action Against the SEC: How It Will Likely Unfold Rep. Emmer on Why He Believes Gary Gensler Is a ‘Bad-Faith Regulator’ Is the Government Trying to Kill Off Crypto in the US? Coinbase’s Top Lawyer Calls SEC Wells Notice a ‘Massive Overreach’ Links CoinDesk: SEC Proposal Could Bar Investment Advisers From Keeping Assets at Crypto Firms U.S. SEC Moves Toward DeFi Oversight as It Reopens Proposed Regulations Prepared Remarks of Gary Gensler On Crypto Markets Penn Law Capital Markets Association Annual Conference SEC Issues Investigative Report Concluding DAO Tokens, a Digital Asset, Were Securities Unchained: SEC Chair Gary Gensler Avoids Question: ‘Is Ethereum a Security?’ Coinbase Seeks to Compel SEC Response to Rulemaking Petition SEC Asks Court to Deny Coinbase Demand for Crypto Rules Financial Institutions Hub: SEC Proposal Targets Crypto Exchanges, Trading Platforms, and Brokers Emmer and Soto Introduce Bipartisan Bill to Provide Regulatory Clarity for Digital Assets Learn more about your ad choices. Visit megaphone.fm/adchoices

It’s in the name: mint.fun. Co-founder Luke Miles joins the show to talk about his platform’s efforts to make NFTs more discoverable, accessible and fun. He also shares his on-the-ground perspectives on emerging trends in the NFT space – everything from Bitcoin Ordinals to the rise of Ethereum L2s as NFT hot spots. With last cycle’s NFT mania in the rearview, what’s next? Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show highlights: what mint.fun is and what problems it solves for NFT users how it is different from popular NFT marketplaces such as OpenSea and Blur why mint.fun is also launching on Ethereum layer 2s Luke’s thoughts on the current state of the NFT market why the narrative has shifted from PFP projects delivering a roadmap to the ‘single creator narrative’ the difference between open-edition mints and limited editions why NFTs on layer 2s are “about to have a moment,” according to Luke whether mint.fun will launch on other blockchains what Luke thinks of Ordinals and the BRC-20 mania Thank you to our sponsors! Crypto.com Stader Labs Guest Luke Miles, CEO of mint.fun Links Dune dashboard Fundrop Recent coverage on BRC-20s: Bitcoin’s BRC-20 Mania: Is It Sustainable? Unchained: What Is NFT Farming? A Beginner's Guide Music NFTs: What Are They & How Do They Work? A Guide to Yuga Labs: The Most Important NFT Company Exploring the NFT blue chips What Is an NFT Marketplace? 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, chop it up about the latest news. In this episode, EigenLayer founder Sreeram Kannan explains his vision for providing “decentralized trust” to new projects on Ethereum. Was Vitalik Buterin’s recent “re-staking” post a shot across EigenLayer’s bow? Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show highlights: how Sreeram has transitioned from academia into the world of crypto why he believes that crypto is the “coordination highway” what EigenLayer is – explained to a five-year-old, a high schooler, a day trader, a developer, and a crypto professor how middleware enables technology innovation where the value accrues if there’s no token for securing a blockchain whether Vitalik is right in being concerned about the risk of corrupting validators what EigenLayer did to minimize risks and externalities to Ethereum whether protocols and applications will fork if they get hacked and whether Ethereum will “bail them out” Hosts Haseeb Qureshi, managing partner at Dragonfly Robert Leshner, founder of Compound Tom Schmidt, general partner at Dragonfly Tarun Chitra, managing partner at Robot Ventures Guest Sreeram Kannan, founder of EigenLayer Previous appearances on Unchained: Do You Need to Think Twice Before Restaking Your Assets? Disclosures Links Don't overload Ethereum's consensus by Vitalik Buterin Previous coverage of Unchained on Ethereum staking: Shapella in the Rearview: After Major Upgrade, What’s Next for Ethereum? How Will ETH React to Ethereum’s Shanghai Upgrade? Post-Merge, If Lido Becomes Dominant, What Does That Mean for Ethereum? In the Recent Crypto Market Meltdown, What Role Did Lido’s stETH Play? Is ETH on Its Way to Becoming Ultra-Sound Money? Yes, Says Justin Drake Learn more: How Liquid Staking Works A Guide to Ethereum’s Shanghai Upgrade How to Stake Ethereum With Liquid Staking Learn more about your ad choices. Visit megaphone.fm/adchoices

In the SEC’s push to rein in the crypto sector, one question looms large: Is ETH a security? Dan Berkovitz, a former CFTC commissioner and SEC general counsel, and Colin Lloyd, a partner at law firm Sullivan & Cromwell, assess the current state of the regulatory turf war in the U.S., shedding light on some of Washington’s unanswered questions. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show highlights: how an asset can be both a commodity and a security what it means that bitcoin and ether were listed as non-security futures whether The Merge may have changed regulators’ views on the classification of ETH who would be responsible for determining that ETH is a security what Colin and Dan say about ETH being a security or not what would happen if any regulator, be it the CFTC or SEC, determined that ETH is a security how and whether DeFi applications should be regulated why it is important to consider the “human initiative” behind DeFi platforms the implications of having a technology that allows for the sale of securities without an intermediary the implications of the SEC’s proposal to change the definition of an exchange how new technologies were integrated with the regulatory system in the past and how that differs from the current approach of the SEC the problems of trying to regulate a technology that’s changing so fast how other jurisdictions have been taking a more proactive approach to regulating digital assets Thank you to our sponsors! Crypto.com Guests: Dan Berkovitz, former General Counsel at the SEC and former Commissioner at the CFTC. Previous appearance on Unchained: Can a DeFi Smart Contract Be Regulated? Two CFTC Commissioners Discuss Colin Lloyd, partner at Sullivan & Cromwell Previous coverage of Unchained on crypto regulation: ‘Is ETH a Security?’ Why Gary Gensler Couldn’t Give Congress a Straight Answer Coinbase's Legal Action Against the SEC: How It Will Likely Unfold Rep. Emmer on Why He Believes Gary Gensler Is a ‘Bad-Faith Regulator’ Is the Government Trying to Kill Off Crypto in the US? Coinbase’s Top Lawyer Calls SEC Wells Notice a ‘Massive Overreach’ Links CoinDesk: U.S. SEC Moves Toward DeFi Oversight as It Reopens Proposed Regulations SEC Chair Gensler Declines to Say if Ether Is a Security in Contentious Congressional Hearing Bloomberg: CFTC Chair Rostin Behnam on the Fight to Regulate Crypto Unchained: SEC Chair Gary Gensler Avoids Question: ‘Is Ethereum a Security?’ SEC Sues Bittrex, Names Dash, Algorand and Other Tokens ‘Crypto Asset Securities’ Coinbase Seeks to Compel SEC Response to Rulemaking Petition SEC Asks Court to Deny Coinbase Demand for Crypto Rules Financial Institutions Hub: SEC Proposal Targets Crypto Exchanges, Trading Platforms, and Brokers Emmer and Soto Introduce Bipartisan Bill to Provide Regulatory Clarity for Digital Assets Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to “The Chopping Block” – where crypto insiders Haseeb Qureshi, Tom Schmidt, and Robert Leshner, chop it up about the latest news. In this episode, Taproot Wizards instigator Eric Wall joins the show to discuss the rise of Ordinals and what it means for the future of Bitcoin. Will inscriptions and BRC-20 tokens bring a slew of Ethereum-style problems to the original blockchain? Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show highlights: how Eric has set up a “war” between the “laser-eye tribe” and the “magicians” how the Bitcoin maxi community is different from the normal Bitcoin user base whether Ordinals fixes the lack of demand for Bitcoin block space what Taproot is and what it enabled on the Bitcoin network the MEV problem that could arise in Bitcoin now that demand for block space is going up whether Bitcoin’s values resemble a religion whether the increased demand for Bitcoin block space is good for the network, even if it’s fueled by JPEGs and “shitcoins” why so many people got worried about Ledger Recover why Robert thinks that Ledger’s new service is “terrifying” and why Haseeb is not so concerned whether Bitcoin is becoming a unit of account once again Hosts Haseeb Qureshi, managing partner at Dragonfly Robert Leshner, founder of Compound Tom Schmidt, general partner at Dragonfly Guest Eric Wall, cofounder of Taproot Wizards Previous appearances on Unchained: Eric Wall and Udi Wertheimer on Why Bitcoin Maximalism Is 'Like a Shitcoin Community' Is Bitcoin Doomed to Fail? Eric Wall and Justin Bons Face Off Why Terra Collapsed and Whether an Algo Stablecoin Can Ever Succeed Disclosures Links CoinDesk: Ledger Bats Back Criticism of New Wallet Recovery Service The Blocksize Wars Revisited: How Bitcoin's Civil War Still Resonates Today Nic Carter: There's No Such Thing as High Fees on Bitcoin Unchained: ‘Backdoor’ for Seed Phrases? Ledger’s New Recovery Feature Spooks Users ​​‘Technically’ Possible to Extract User Keys? Ledger Addresses Deleted Tweet Haseeb Qureshi’s thread on Ledger Recover Previous coverage of Unchained on Ordinals and BRC-20s: Bitcoin’s BRC-20 Mania: Is It Sustainable? Bitcoin Ordinal NFTs Are Hot and Getting Hotter. What's the Hype About? Learn more about your ad choices. Visit megaphone.fm/adchoices

Ledger, the crypto industry’s leading hardware wallet manufacturer, rolled out a new recovery feature this month that caused an uproar. The recovery service has dangerous implications for crypto self-custody, says Foundation Devices Head of Content “Seth For Privacy.” He joins the show to discuss the downsides of closed-source code and the security risks that come with compromising for mainstream adoption. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show highlights: how Ledger Recover works and why it caused an outrage in the crypto community why the fact that Ledger’s code is not open-source could be considered a problem what the concerns are about handing over additional data to Ledger how darknet markets have always existed for fake ID verifications and how it relates to Ledger’s new feature some of Ledger’s previous security lapses why introducing a trusted third party undermines one of Bitcoin’s most central tenets whether Ledger’s move is a “net good for society,” and whether people actually want a service like this in a hardware wallet whether something will go wrong with Ledger in the future Thank you to our sponsors! Crypto.com Railgun DAO Stader Labs Guest Seth for Privacy, blogger and head of content at Foundation Devices Blog Foundation Devices Twitter thread on the logistics and risks of the Ledger recovery process Links Ledger CTO Twitter thread on Ledger Recover CoinDesk: Ledger Bats Back Criticism of New Wallet Recovery Service, CoinDesk Unchained: ‘Backdoor’ for Seed Phrases? Ledger’s New Recovery Feature Spooks Users Ledger Recover webpage Haseeb Qureshi’s thread on the Ledger controversy Past Ledger security issues CoinDesk: Crypto Wallet Maker Ledger Loses 1M Email Addresses in Data Theft Cointelegraph: Ledger data leak: A ‘simple mistake’ exposed 270K crypto wallet buyers Learn more about your ad choices. Visit megaphone.fm/adchoices

Ordinal theory has unleashed a new wave of NFTs, memecoins and innovation on Bitcoin — but not without controversy. Bitcoin educator Dan Held and Bitcoin Frontier Fund Managing Partner Trevor Owens join the show to discuss the breakneck rise of BRC-20s and why they’re both bullish on what memecoins mean for the original blockchain. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show highlights: what ordinal theory is and how it enabled Bitcoin “NFTs” how the Ordinals Protocol differs from the ERC-721 token standard used by many Ethereum NFTs how BRC-20s work by relying on some off-chain mechanisms why Bitcoin is not a “dinosaur chain,” according to Dan why Trevor says BRC-20 memecoins are superior to those on Ethereum what the practical utilities of BRC-20s are, if any why transaction fees in Bitcoin rose so much and why it’s healthy for the network whether innovation is coming back to Bitcoin whether Satoshi Nakamoto would have approved of Bitcoin NFTs the role of speculation in fueling bitcoin adoption the current and future state of layer 2s on Bitcoin why Dan says BRC-20s “absolutely” solve the problem with Bitcoin’s security budget why it’s hard to determine an “appropriate” amount for the security budget of Bitcoin how the NFT market could be shaped after the rise of Ordinals and BRC-20s what needs to be developed so that BRC-20s can flourish Thank you to our sponsors! Crypto.com Guests: Dan Held, Bitcoin educator and marketing advisor at Trust Machines Trevor Owens, managing partner at Bitcoin Frontier Fund Previous coverage of Unchained on Ordinals: Bitcoin Ordinal NFTs Are Hot and Getting Hotter. What's the Hype About? - NFT Crypto Links Unchained: How to Create a Bitcoin Ordinal Bitcoin Core Developers Mull Getting Rid of BRC-20 Transactions Binance Briefly Halted Bitcoin Withdrawals Amid Network Congestion Domo’s thread on BRC-20s Anita Posch’s comments.on the high fees Nic Carter: There's No Such Thing as High Fees on Bitcoin Nic Carter’s MIT presentation: MIT Bitcoin Expo 2019 - 10 years of Bitcoin: Evaluating its Performance as a Monetary System Decrypt: Michael Saylor: Bitcoin Ordinals Are a ‘Catalyst’ for Adoption [bitcoin-dev] [Mempool spam] Should we as developers reject non-standard Taproot transactions from full nodes? Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to “The Chopping Block” – where crypto insiders Haseeb Qureshi, Robert Leshner, Tom Schmidt, and Tarun Chitra chop it up about the latest news. In this episode, they talk about the recent issues surrounding the Aragon Foundation, the likelihood of Montenegro becoming an ETH hub, the BRC-20s mania, and much more! Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show highlights: why Zuzalu is “Burning Man in the daytime” whether Montenegro could become the “ETH El Salvador doppelganger” why the Aragon Foundation alleged that they were under attack why Aragon has “missed the boat on a lot of everything that’s happened in DAOs” whether the Aragon Foundation is “suckling on the teat of the DAO for a fat salary” whether Arca was right about wanting the Aragon treasury to be part of the on-chain governance how on-chain governance can do even more than many of the investment banking functions that exist currently why some Bitcoin developers want to censor BRC-20 transactions why the way XEN works gives Haseeb a headache whether Binance CEO CZ invented the memecoin PEPE what the impact of Jump and Jane Street decreasing their market making activity is where the next market makers will come from Hosts Haseeb Qureshi, managing partner at Dragonfly Robert Leshner, founder of Compound Tarun Chitra, managing partner at Robot Ventures Tom Schmidt, general partner at Dragonfly Disclosures Links Unchained: Coinbase Apologizes After Calling PEPE a ‘Hate Symbol’ Market Makers Jump and Jane Street Withdraw From U.S. Crypto Trading: Report CoinDesk: Aragon Cancels Planned Community Control of $200M Treasury Amid Battle With Activist Investors The Block: Coinbase cuddles up to UAE policymakers as US outlook sours Learn more about your ad choices. Visit megaphone.fm/adchoices

News emerged this week that the U.S. Internal Revenue Service (IRS) placed $44 billion in claims on the FTX bankruptcy estate. Now creditors of the defunct crypto exchange are worried that the taxman is going to gobble up funds that would otherwise be used to make users partially whole. Wassielawyer, a lawyer specializing in restructuring and insolvency, joins the show to explain what’s going on, how that huge number is even possible, and why the so-called “trust argument” is not going to be the silver bullet that some FTX customers are dreaming of. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show highlights: whether the numbers of the IRS claim are even correct how these claims may affect all customers and unsecured creditors of FTX whether FTX CEO John Ray will fight the claims what the trust argument is and how it could potentially save (or not) FTX’s creditors in what currency the investments made by creditors would be returned why the Three Arrows Capital case differs from FTX and Mt. Gox why what FTX allegedly did is similar, but different, from what Celsius or Voyager did Thank you to our sponsors! Crypto.com Railgun DAO Stader Labs Guest Wassielawyer, a lawyer specializing in restructuring and insolvency Previous appearances on Unchained: Did the Bahamian Government Direct SBF and Gary Wang to Hack Why the Messy 3AC, Celsius, and Voyager Bankruptcies Will Drag on for Years Three Crypto Bankruptcies: 3AC, Celsius and Voyager. What Happens Now? Links CoinDesk: U.S. Internal Revenue Service Files Claims Worth $44 Billion Against FTX Bankruptcy MeatTC’s Twitter thread Wassie’s Twitter thread Learn more about your ad choices. Visit megaphone.fm/adchoices

Longtime crypto reporter Brady Dale has beat Michael Lewis to market with the first book on the dramatic collapse of FTX. In stores today, “SBF: How the FTX Bankruptcy Unwound Crypto’s Very Bad Good Guy,” tells the tale of the outsized role that Sam Bankman-Fried played in the FTX-Alameda death spiral. Drawing on years of reporting and interviews with SBF himself, the book charts the rise and fall of the one-time crypto wunderkind. “It became clear to me that Sam got really addicted to fame,” said Dale. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show highlights: Brady’s background and how he came to cover crypto how covering the space for a crypto outlet is different from a more mainstream publication how Brady was able to finalize his book so fast what Brady’s favorite parts of the book are who was really responsible for the collapse of the FTX empire whether Sam Bankman-Fried will plead guilty whether FTX will make a comeback how SBF thinks differently from other people, and how it led to his downfall why Brady thinks the “dot-com bust” for crypto has yet to arrive whether crypto has betrayed its cypherpunk ideals Thank you to our sponsors! Crypto.com Guests: Brady Dale, writer and reporter at Axios, and author of “SBF: How the FTX Bankruptcy Unwound Crypto’s Very Bad Good Guy” Previous coverage of Unchained on Sam Bankman-Fried and FTX: The Chopping Block: Was FTX a Scam From the Very Beginning? How Much Prison Time Is FTX’s Sam Bankman-Fried Facing? Why the Legal Process for FTX and Sam Bankman-Fried Could Take Years The Chopping Block: SBF Wants to Win in the Court of Public Opinion. Will He? Jesse Powell and Kevin Zhou on How FTX and Alameda Lost $10 Billion Is the Collapse of Crypto Lending Over, or Is It Just Starting? Did the Bahamian Government Direct SBF and Gary Wang to Hack FTX? The Chopping Block: Why Lenders Didn’t Liquidate Alameda When It Was Underwater Erik Voorhees and Cobie on Why FTX Loaned Out Customers’ Assets The Chopping Block: FTX: The Biggest Collapse in the History of Crypto? Sam Bankman-Fried on How to Prevent the Next Terra and 3AC Learn more about your ad choices. Visit megaphone.fm/adchoices

The Genesis bankruptcy is about to take a high-stakes turn with a $630 million payment from Digital Currency Group (DCG) due by May 11. Barry Silbert’s DCG, the parent company of Genesis, is on the hook for the massive payment, but doubts are swirling as to whether the crypto conglomerate can cover it. Lumida Wealth CEO Ram Ahluwalia joins the show to unpack what could happen to Genesis creditors, Gemini Earn users, and the markets should DCG fail to cover its debt obligations. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show highlights: whether DCG will be able to pay its debt to the Genesis bankruptcy estate the ways DCG can “plug the hole” what the likelihood of DCG filing for bankruptcy is how FTX’s intent to claw back $3.9 billion from Genesis would affect DCG whether Gemini Earn customers will be made whole why Ram says that asymmetric information has plagued the bankruptcy process whether the creditors should accept the latest term sheet how the Grayscale lawsuit against the SEC could impact DCG’s cash flow Thank you to our sponsors! Crypto.com Railgun DAO Stader Labs Guest Ram Ahluwalia, CEO & Founder of Lumida Wealth Previous appearances on Unchained: ​​Genesis May Be Facing Bankruptcy. Could It Take DCG Down With It? Gemini vs. DCG Is Heating Up. Could Gemini Force Genesis Into Bankruptcy? How Will the FTX Collapse Affect Silvergate? A Bear and a Bull Debate How Is the Fed Going to Respond to the Banking Crisis? Links Unchained: FTX Moves to Claw Back $3.9 Billion From Genesis Reuters: Crypto group DCG says bankrupt unit Genesis' creditors renege on deal CoinDesk: Genesis Files for Mediator Assistance Over Amount of DCG Contribution to Reorganization DCG's CFO Steps Down as Crypto Conglomerate Repays $350M Loan Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, Sreeram Kannan, founder of EigenLayer, and Konstantin Lomashuk, cofounder of Lido Finance, discuss the complex world of staking in Ethereum's post-Shanghai ecosystem. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show highlights: how the staking ecosystem in Ethereum looks after the full completion of the Merge what EigenLayer is and why it's called that whether EigenLayer's model is more similar to Polkadot or, actually, to Ethereum Layer 2s what the risks of restaking are, for both projects and users how Lido is working to keep Ethereum decentralized and censorship-resistant what superfluid staking is and whether it could be done on Ethereum how EigenLayer incentivizes alignment between the delegator and the stakers whether there's a risk that Lido could become a governance layer for Ethereum what can be done to increase staking services adoption Thank you to our sponsors! Crypto.com Guests: Sreeram Kannan, founder of EigenLayer Konstantin Lomashuk, cofounder of Lido Finance Previous coverage of Unchained on Ethereum staking: Shapella in the Rearview: After Major Upgrade, What’s Next for Ethereum? How Will ETH React to Ethereum’s Shanghai Upgrade? Post-Merge, If Lido Becomes Dominant, What Does That Mean for Ethereum? In the Recent Crypto Market Meltdown, What Role Did Lido’s stETH Play? Is ETH on Its Way to Becoming Ultra-Sound Money? Yes, Says Justin Drake Learn more: How Liquid Staking Works A Guide to Ethereum’s Shanghai Upgrade How to Stake Ethereum With Liquid Staking Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to “The Chopping Block” – where crypto insiders Haseeb Qureshi, Tom Schmidt, and Tarun Chitra chop it up about the latest news in digital assets. In this live episode from Consensus 2023, they are joined by Avery Ching, chief architect of Aptos, to discuss the latest SEC enforcement actions, an embarrasing admission by audit firm Certik, and crypto’s impact on the coming election. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show highlights: everyone's impressions of the conference why Korea has become a hub for crypto adoption why there's no benchmarking infrastructure to compare data across blockchains how Sui decided not to airdrop a token and what the implications for future airdrops are whether CertiK bears responsibility in the Merlin DEX rugpull whether the US elections have an effect on how the SEC is playing the case with Coinbase what impact AI will have on the crypto industry Hosts Haseeb Qureshi, managing partner at Dragonfly Tarun Chitra, managing partner at Robot Ventures Tom Schmidt, general partner at Dragonfly Guest Avery Ching, cofounder and CTO of Aptos Disclosures Links Unchained: Coinbase Seeks to Compel SEC Response to Rulemaking Petition ​​Exploit or Rug Pull? $1.8 Million Drained From zkSync DEX Merlin Despite Audit SEC Sues Bittrex, Names Dash, Algorand and Other Tokens ‘Crypto Asset Securities’ CoinDesk: Sui Network to Issue Token Following Exchange Sale; Airdrop Hunters Dismayed Learn more about your ad choices. Visit megaphone.fm/adchoices

Major crypto exchange Coinbase has decided to take action to get an answer from the Securities and Exchange Commission: this week, they filed a court action seeking to compel Gary Gensler’s agency to give specific rulemaking on crypto assets. J.W. Verret, associate professor of law at George Mason Law School, talks about how both parties are playing this game, how it could change the Howey test, and much more. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show highlights: whether there's a long-term chess strategy being played by Coinbase whether the case could actually change the Howey test why the 'West Virginia vs. EPA' is important for crypto what the SEC's strategy is and why the Kraken settlement was an “overreach,” according to J.W. whether the SEC could develop a new framework for crypto assets how the Ripple case will unfold and how long it will take if it is appealed Thank you to our sponsors! Crypto.com Railgun DAO Guest J.W. Verret, Associate Professor of Law at George Mason Law School J.W.’s thread My story of telling the SEC ‘I told you so’ on FTX Public Request for Rulemaking: Securities Regulation Genesis Block Proposal Previous coverage of Unchained on the SEC’s actions: Rep. Emmer on Why He Believes Gary Gensler Is a ‘Bad-Faith Regulator’ Is the Government Trying to Kill Off Crypto in the US? Coinbase’s Top Lawyer Calls SEC Wells Notice a ‘Massive Overreach’ Links Unchained: Coinbase Seeks to Compel SEC Response to Rulemaking Petition - Unchained Crypto Coinbase takes another formal step to seek regulatory clarity from SEC for the crypto industry IN THE UNITED STATES COURT OF APPEALS FOR THE THIRD CIRCUIT COINBASE, INC.’S PETITION FOR WRIT OF MANDAMUS TO THE Coinbase petition for SEC rulemaking Learn more about your ad choices. Visit megaphone.fm/adchoices

Two lawyers, Josh Klayman, head of digital assets at Linklaters, and Marc Boiron, chief legal officer at Polygon Labs, offer their takes on the SEC’s recent crypto crackdown. They share what they heard from SEC Chair Gary Gensler’s Congressional testimony, whether this crackdown was inevitable or sparked by FTX, and why a proposed change to the definition of an exchange could be an existential threat for DeFi in the U.S. Show highlights: what Gary Gensler’s approach to crypto was when he took office whether the FTX collapse had any impact at all on the SEC’s recent actions whether the actions against Coinbase are “inappropriate” what the differences between Coinbase and Kraken staking services are why the concept of “exemptive relief” is important for exchanges whether the SEC is looking to go after AMM-based decentralized exchanges why SEC Commissioner Hester Peirce says that complying with a new proposal wouldn’t be possible for much of DeFi why, according to Marc, the industry should be “pushing very hard” against the newly proposed definition of an exchange whether the SEC’s ability to pursue enforcement actions against ETH is diminished by the statements of the previous SEC chair Thank you to our sponsors! Crypto.com Halborn Guests: Josh Klayman, head of blockchain and digital assets at Linklaters, Marc Boiron, chief legal officer at Polygon Labs. Sufficient Decentralization Previous coverage of Unchained on the SEC’s actions: ‘Is ETH a Security?’ Why Gary Gensler Couldn’t Give Congress a Straight Answer Rep. Emmer on Why He Believes Gary Gensler Is a ‘Bad-Faith Regulator’ Is the Government Trying to Kill Off Crypto in the US? Coinbase’s Top Lawyer Calls SEC Wells Notice a ‘Massive Overreach’ SEC Chair Gary Gensler Avoids Question: ‘Is Ethereum a Security?’ SEC Sues Bittrex, Names Dash, Algorand and Other Tokens ‘Crypto Asset Securities’ Links CoinDesk: U.S. SEC Moves Toward DeFi Oversight as It Reopens Proposed Regulations Proposed rule: Amendments Regarding the Definition of “Exchange” and Alternative Trading Systems (ATSs) Rendering Innovation Kaput: Statement on Amending the Definition of Exchange POLITICO: McHenry clashes with SEC’s Gensler over crypto crackdown Forbes: Crypto Exchange Beaxy Shuts Down Amid SEC Charges Treasury Releases 2023 DeFi Illicit Finance Risk Assessment Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to “The Chopping Block” – where crypto insiders Haseeb Qureshi, Tom Schmidt, Robert Leshner, and Tarun Chitra chop it up about the latest news. In this episode, the gang plays “guess the chart” and takes a deep dive into the booming world of Ethereum Layer 2s. Show highlights: how much Layer 2s are spending to post data to Ethereum whether L2s suck up all the value of ETH the challenge of providing a good user experience across multiple rollups how the underlying technology of security is not improving but attackers are getting more sophisticated whether centralized lending in the industry is dead why crypto users still hold stablecoins that yield much lower than Treasury bills the new approach to bringing real-world assets and tokenized yields to blockchains whether all L2s are running via proof of authority whether alternative Layer 1s are dead or are actually more important than ETH L2s Hosts Haseeb Qureshi, managing partner at Dragonfly Robert Leshner, founder of Compound Tarun Chitra, managing partner at Robot Ventures Tom Schmidt, general partner at Dragonfly Disclosures Links Hildebert’s charts Learn more about your ad choices. Visit megaphone.fm/adchoices

It got heated this week on Capitol Hill with SEC Chair Gary Gensler testifying before the House Financial Services Committee on his agency’s efforts to rein in the U.S. crypto industry. Jason Gottlieb, partner at Morrison Cohen, unpacks what was said and whether we’ll continue to see more crackdowns from the U.S. securities regulator. Show highlights: Whether ETH is a security and what would be the impact if it was declared as such by the SEC Whether the SEC is harming investors What the potential impacts of the SEC lawsuit against Bittrex are Why the case against crypto exchange Beaxy could serve as a precursor to a potential case against Coinbase How the SEC’s lack of clear regulation is pushing crypto out of America, according to Jason Why the SEC is trying to expand the definition of an exchange and its possible effects on DeFi Thank you to our sponsors! Crypto.com Railgun DAO Guest Jason Gottlieb, Partner at Morrison Cohen & Chair of the Digital Assets Department Previous appearances on Unchained: The Department of Justice Goes After Its First NFT Insider Trading Case Previous coverage of Unchained on the SEC’s actions: Rep. Emmer on Why He Believes Gary Gensler Is a ‘Bad-Faith Regulator’ Is the Government Trying to Kill Off Crypto in the US? Coinbase’s Top Lawyer Calls SEC Wells Notice a ‘Massive Overreach’ Links CoinDesk: U.S. SEC Moves Toward DeFi Oversight as It Reopens Proposed Regulations Unchained: SEC Chair Gary Gensler Avoids Question: ‘Is Ethereum a Security?’ SEC Sues Bittrex, Names Dash, Algorand and Other Tokens ‘Crypto Asset Securities’ Proposed rule: Amendments Regarding the Definition of “Exchange” and Alternative Trading Systems (ATSs) Rendering Innovation Kaput: Statement on Amending the Definition of Exchange POLITICO: McHenry clashes with SEC’s Gensler over crypto crackdown Forbes: Crypto Exchange Beaxy Shuts Down Amid SEC Charges Learn more about your ad choices. Visit megaphone.fm/adchoices

Maximal extractable value, or MEV, is a mainstay of the Ethereum landscape. But the process of validators reaping profits from handling new blocks is not without controversy. Ethereum Foundation researcher Justin Drake and bloXroute Labs CEO Uri Klarman assess the current state of MEV. Hear them disagree about the path forward for making Ethereum fairer for all its economic actors. Show highlights: what MEV is and how it has evolved over time the nuances of the newly proposed MEV Blocker and why it’s important for users whether it’s possible to enable “back-running” while preventing front-running how to give power back to blockchain users what the differences and similarities are among several projects trying to solve MEV how “MEV Burn” will be like the EIP-1559 to what Justin calls contention whether EigenLayer can help solve MEV problems whether wallets and DEXs could be doing something different to prevent MEV and generate more revenue how “exclusive order flow” could be detrimental to DeFi users what proposer-builder separation (PBS) is and whether it will change MEV distribution why Uri doesn’t think PBS is the right step forward for Ethereum Thank you to our sponsors! Crypto.com Halborn Guests: Justin Drake, researcher at the Ethereum Foundation Uri Klarman, CEO of bloXroute Labs Links Previous coverage of Unchained on MEV: Why Is Ethereum Trying to Maximize Value From Users? Two Sides Debate The Chopping Block: Why the Once-Taboo MEV Is Now a Core Part of Ethereum MEV Blocker CoinDesk: MEV Blocker Wants to Help You Outrun the Front-Runners MEV Blocker Unchained: Ethereum Builders Join Forces to Launch MEV Blocker MEV Distribution CoinDesk: Flashbots Proposes New Class of 'Matchmakers' to Share MEV Gains With Ethereum Users MEV-Share: programmably private orderflow to share MEV with users - The Flashbots Ship BackRunMe Wallet-Boost Design Doc · blocknative discourse · Discussion #1 · GitHub OpenMEV Mechanics and Formulas - Manifold Finance MEV Smoothing Committee-driven MEV smoothing - Economics MEV Burn Burning MEV through block proposer auctions - Economics Proposer-Builder separation Proposer-builder separation | ethereum.org Vitalik Buterin’s tweet Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to “The Chopping Block” – where crypto insiders Haseeb Qureshi, Tom Schmidt, and Robert Leshner chop it up about the latest news. In this episode, they’re joined by Unchained’s Laura Shin to debate FTX revival rumors, what the U.S. Treasury got wrong about DeFi, and whether VCs are antithetical to crypto’s core principles. Show highlights: how much ETH is getting unstaked and deposited after Shapella the market reaction following the successful implementation of the upgrade whether FTX could reopen after its massive collapse why Robert thinks rebooting the exchange is a “terrible” idea whether FTX could do the same thing as Bitfinex and issue a debt token for creditors how the U.S. government misunderstands decentralized finance, in stark contrast with regulators from other parts of the world whether DeFi front-ends should be subject to the Bank Secrecy Act whether VCs go against the principles of crypto the difference between democratizing finance and democratizing fundraising Hosts Haseeb Qureshi, managing partner at Dragonfly Robert Leshner, founder of Compound Tom Schmidt, general partner at Dragonfly Guest Laura Shin, author, and CEO of Unchained Disclosures Links Shapella: Previous coverage of Unchained on the upgrade: Shapella in the Rearview: After Major Upgrade, What’s Next for Ethereum? Ethereum's Shapella Upgrade - What to Expect? How Will ETH React to Ethereum’s Shanghai Upgrade? Unchained: Staked Ethereum Withdrawals Enabled As Shanghai Upgrade Goes Live Ethereum Surges Past $2,000 Post-Shanghai, $2 Billion Staked Withdrawals Pending Nansen: The Shanghai Upgrade Dashboard CoinDesk: What’s Next After the Ethereum Shanghai Upgrade Known as Shapella FTX: Unchained: FTX Could Reopen Crypto Exchange, Recovers $7.3 Billion in Assets Treasury Report: Unchained: Poor DeFi Cybersecurity Presents Risks for National Security, Says U.S. Treasury Learn more about your ad choices. Visit megaphone.fm/adchoices