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UNCHAINED: How to Figure Out Whether a Crypto Token Is Worth Its Trading Price Jul 03, 2024

Show notes

Jose Macedo of Delphi Digital and Ari Paul of BlockTower Capital talk about why a crypto asset can have wildly different prices in the public and private markets, and how they try to figure out what it’s really worth.

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

The problem of low float, high fully diluted valuation (FDV) coins is one that is frequently discussed in crypto. But there’s another wrinkle: investors need to understand the unrealized gains of these coins to really understand the price.

In this episode, Jose Macedo of Delphi Digital and Ari Paul of BlockTower Capital explain the various metrics that reveal what a coin is really worth, why a wave of token unlocks that will be hitting the crypto markets in the next few years are not bullish, and whether there is a better way to design token unlocks for teams and insiders.

Plus, they cover whether venture capitalists are extractive to crypto, whether these games with circulating supply and FDV have caused investors to turn to memecoins, and why they believe the ICO era was better for retail investors.

Show highlights:

Why upcoming token unlocks are creating market jitters
How the ratio of unrealized gains to market cap influences token price movements
How some token projects manipulate their reported circulating supply
Whether and how everyday investors can uncover the truth about token projects
What secondary market trading says about the potential impact of upcoming token unlocks
Why Jose believes that the current token launch strategy, despite its flaws, is still favored by insiders and unlikely to change soon
Why some projects favor decisions that are more likely to result in short-term gains over long-term success
Why Jose believes that simple time-based token unlocks often work better than complex metrics, and how projects can balance funding with realistic success metrics
Why Ari believes the SEC's investigations into VCs for acting as securities dealers might be justified, and how these practices resemble pump-and-dump schemes
With numerous token unlocks looming, why the outlook is bearish for many projects, and what challenges they face in mitigating potential sell-offs
Why many crypto investors might end up holding the bag in the current cycle, despite plans to sell early and avoid losses
What the future role of VCs is in crypto, and how the influx of token unlocks and the rise of memecoins could shape the bull cycle

Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com

Thank you to our sponsors!

Polkadot

Guests:

Jose Macedo, founder at Delphi Labs
Ari Paul, CIO of BlockTower Capital
Previous appearances on Unchained:
Ari Paul on Why Bitcoin Is a Good Value Buy
Ari Paul of BlockTower Capital on the Crypto Downturn and Why It Could Change Direction

Links :

High FDV and unlocks:

Unchained:
How ‘Fully Diluted Valuation’ Can Be a Very Dangerous Metric for Crypto Markets to Rely On
Who’s to Blame for the Underperformance of Low Float, High FDV Tokens?
80% of Tokens on Binance Are Down Since Listing Date: SwissBorg Researcher
Cobie newsletter: New launches (part 1) - private capture, phantom pricing
Rocknblock: Token vesting explainer
CoinDesk: 'Liquid Vesting' Is Oxymoronic Blockchain Feature That Lets Early Investors Sell Without Waiting
Jose’s thread that inspired the episode
Ari’s post responding to Jose’s thread
Token.unlocks.app: Token vesting tracker

Solutions:

Hack VC: Potential Solutions to Crypto's Unlock Problem
Colony Lab: Early-Stage Program & Liquid Vesting
Imran Khan’s tweet on Blast https://x.com/lmrankhan/status/1806040646433522149

Unchained Podcast is Produced by Laura Shin Media, LLC. Distributed by CoinDesk. Senior Producer is Michele Musso and Executive Producer is Jared Schwartz.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

THE MINING POD: Mining Pool Centralization With CheckSum Jul 02, 2024

Show notes

By some metrics, Antpool has over 50% of Bitcoin’s hashrate through proxy pools. Is this a threat to Bitcoin?

Industry expert Ian Descôteaux from Pow.Re discusses evidence of pool consolidation, risks to Bitcoin, and potential solutions for decentralization. This podcast explores the growing centralization of Bitcoin mining pools, focusing on proxy pools and their potential impact on the network.

Timestamps:

00:00 Start

02:48 Checksum's bio

03:34 Canada & South America hash rate

06:42 Mining pool centralization

09:14 Proxy pools

11:57 Proxy pool diagram

13:57 F2Pool use proxy?

15:14 F2Pool block template

16:09 Cobo yield & risk

19:31 Merkle tree evidence

25:28 UTXO accelerator

29:59 Selfish mining & 51%

33:35 Covenants

36:26 Antpool incentives

38:38 Block withholding attacks

40:17 How to fix?

43:32 Are new pools likely?

45:52 Final thoughts

Published twice weekly, "The Mining Pod" interviews the best builders and operators in the Bitcoin and Bitcoin mining landscape. Subscribe to get notifications when we publish interviews on Tuesday and a news show on Friday!

👉 Check out Bitcoin Season 2 and The Gwart Show.

👉 Watch our newest documentary, The Big Empty!

Follow our host on Twitter, @wsfoxley.

Thank you to our sponsor, CleanSpark, America’s Bitcoin miner! And thank you to Foreman Mining, Master Your Mining!

"The Mining Pod" is produced by Sunnyside Honey LLC with Senior Producer, Damien Somerset. Distributed by CoinDesk with Senior Producer Michele Musso and Executive Producer Jared Schwartz.

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COINDESK DAILY: Circle Becomes First Stablecoin Issuer to Get MiCA License; Polymarket Hits $100M of Volume in June Jul 02, 2024

Show notes

Host Jennifer Sanasie breaks down the news in the crypto industry from Circle's stablecoin license in the EU to Polymarket's record volume in June.

To get the show every day, follow the podcast here.

"CoinDesk Daily" host Jennifer Sanasie breaks down the biggest headlines in the crypto industry today, as Circle became the first global stablecoin issuer to comply with the EU's MiCA regulatory framework. Plus, Polymarket recorded over $100 million of volume in June on U.S. election enthusiasm. And, Silvergate Bank's $63 million settlement with regulators.

This episode was hosted by Jennifer Sanasie. “First Mover” is produced by Jennifer Sanasie and Melissa Montañez and edited by Victor Chen.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

MARKETS DAILY: Crypto Update | Circle Gets First Stablecoin License Under MiCA, Head of Global Policy Weighs in on What's Next Jul 02, 2024

Show notes

The latest price moves and insights with Jennifer Sanasie and Circle Chief Strategy Officer and Head of Global Policy Dante Disparte.

To get the show every day, follow the podcast here.

Circle Chief Strategy Officer and Head of Global Policy Dante Disparte breaks down the stablecoin issuer's journey to secure an Electronic Money Institution (EMI) license under the MiCA regulatory framework. Plus, insights on developments in crypto regulation around the world.

This episode was hosted by Jennifer Sanasie. “Markets Daily” is executive produced by Jared Schwartz and produced and edited by Victor Chen, alongside Senior Booking Producer Melissa Montañez. All original music by Doc Blust and Colin Mealey.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

COINDESK DAILY: U.S. Treasury Issues Crypto Tax Regime for 2025; SEC Sues Consensys Over MetaMask Service Jul 01, 2024

Show notes

Host Jennifer Sanasie breaks down the news in the crypto industry from the U.S. Treasury releasing its tax regime for crypto to the SEC's lawsuit against Consensys.

To get the show every day, follow the podcast here.

"CoinDesk Daily" host Jennifer Sanasie breaks down the biggest headlines in the crypto industry today, as the U.S. Treasury Department issued its long-awaited tax regime for cryptocurrency transactions. Plus, the U.S. SEC alleged MetaMask's Swaps and staking products violated federal securities laws in a lawsuit against Consensys. And, Sony's plan to restart crypto exchange, Whalefin.

This episode was hosted by Jennifer Sanasie. “First Mover” is produced by Jennifer Sanasie and Melissa Montañez and edited by Victor Chen.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

MARKETS DAILY: Crypto Update | 21Shares Exec on Future of Crypto ETFs Jul 01, 2024

Show notes

The latest price moves and insights with Jennifer Sanasie and 21Shares Head of U.S. Business Federico Brokate.

To get the show every day, follow the podcast here.

21Shares Head of U.S. Business Federico Brokate joins CoinDesk to discuss recent recovery in bitcoin's (BTC) price. Plus, insights on the evolving landscape of crypto ETFs and the intersection between traditional and decentralized finance.

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GEN C: Live from Consensus: Brands Using the Metaverse for Social Good Jul 01, 2024

Show notes

From the Consensus stage, this episode focuses on the future of immersive technologies, underlining how brands and creators are utilizing these platforms to drive community engagement and social responsibility initiatives.

In this episode, we bring you another conversation from Consensus where we delve into how various brands are leveraging the metaverse and immersive technologies for social good, featuring insights from industry leaders: Justin Breton of Walmart, Adam Shlachter of Niantic, Winnie Burke of Roblox and moderated by Laurie Keith of Ad Council. Topics include Walmart’s virtual initiatives, innovations spotlighted at the Cannes Lions Festival, the impact of celebrity tokens on culture and commerce and media licensing within the evolving landscape of AI. This episode was recorded live at Consensus 2024 in Austin, TX.

Links mentioned from the podcast:

Watch this episode on video:

Sam Ewen, Avery Akkineni, CoinDesk, Vayner3

Safe (formerly Gnosis Safe) is the ownership layer of web3 with the most battle tested smart accounts. Trusted to secure over $100 billion, Safe offers unparalleled usability and security for individuals, DAOs, and institutions. Experience true digital ownership with Safe's flagship web and mobile wallet and its leading account abstraction infrastructure. Get started today at safe.global.

"Gen C" features hosts Sam Ewen and Avery Akkineni. Executive produced by Jared Schwartz and produced by Uyen Truong. Our theme music is "1882” by omgkirby x Channel Tres with editing by Doc Blust. Artwork by Nicole Marie Rincon.

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COINDESK DAILY: Trumps Odds of Victory Surge on Polymarket; Steno Research Predicts ETH to Hit $6.5K Jun 28, 2024

Show notes

"CoinDesk Daily" host Jennifer Sanasie breaks down the biggest headlines in the crypto industry today.

Polymarket bettors put Trump at a 67% chance of winning the US election after the presidential debate on Thursday night; Kraken Co-Founder, Jesse Powell donates $1 million to Trump; And, Steno Research predicts ETH will reach $6500.

This episode was hosted, edited, and produced by Jennifer Sanasie.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

UNCHAINED: Why the Mt. Gox Repayments May Not Hurt the Bitcoin Price Much Jun 28, 2024

Show notes

Galaxy’s Alex Thorn explains why the Bitcoin repayments will likely have a smaller impact on the Bitcoin price than feared. Plus, he gives a projection for inflows into spot Ethereum ETFs, and says a Solana ETF has a hard path to approval.

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

Ten and a half years after filing for bankruptcy, Mt. Gox is finally set to disburse 142,000 Bitcoin worth nearly $9 billion to creditors between July and October.

Market concern has been growing over the potential impact on Bitcoin prices, but Alex Thorn, head of research at Galaxy, explains why only a small fraction of those bitcoins will be sold. He also discusses the implications of this redistribution on the market, the potential success of Ethereum ETFs, and the chances of a Solana ETF approval.

Show highlights:

0:26 Why Alex estimates the amount of bitcoins that creditors sell will be a tiny fraction of the 142,000 to be repaid
11:35 What market shocks could arise from Mt. Gox creditors receiving billions in Bitcoin, and why he believes Bitcoin Cash is the real wild card
16:18 Whether Ethereum ETFs could be as successful as Bitcoin ETFs in attracting investors
21:35 Whether potential outflows from Grayscale's Ethereum Trust will dampen the excitement around Ethereum ETFs
23:38 How the combination of Mt. Gox repayments, Ethereum ETFs, and German and American government Bitcoin sales might affect crypto prices
26:03 The chances the SEC approves a spot Solana ETF

Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com

Thank you to our sponsors!

Guest

Alex Thorn, head of research at Galaxy
Previous appearance on Unchained: How Much Money Will Flow Into Bitcoin ETFs? Here’s One Projection

Links

Mt. Gox.

Unchained: Crypto Market Sees $300 Million Liquidated as Bitcoin Briefly Drops Below $59,000
CoinDesk: Mt. Gox to Begin Repayments in July

Governments selling:

Unchained: US Government Sends $241 Million in Bitcoin to Coinbase: Arkham
Cointelegraph: German gov’t offloads 900 Bitcoin, 400 BTC sent to Coinbase and Kraken

Solana ETF

Reuters: Investment manager VanEck files to list first spot Solana ETF in US |

Unchained Podcast is Produced by Laura Shin Media, LLC. Distributed by CoinDesk. Senior Producer is Michele Musso and Executive Producer is Jared Schwartz.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

THE PROTOCOL: Sui as a Global Coordination Layer for Intelligent Assets Jun 28, 2024

Show notes

Adeniyi Abiodun envisions a long-term goal for Sui to develop a decentralized web stack, leading to a fully decentralized internet infrastructure.

Follow the show here for more.

This installment of "The Protocol," hosts Brad Keoun, the founding editor of The Protocol Newsletter, and tech journalists Sam Kessler and Margaux Nijkerk interview Adeniyi Abiodun, co-founder of Mysten Labs and the Sui blockchain,.They discuss the vision and goals of Sui as a global coordination layer for intelligent assets. Adeniyi highlights the importance of creating a blockchain accessible to developers outside the Web3 native community, focusing on usability and ease of adoption. He explains the differences between Sui and other blockchains, such as its object-based system and unlimited throughput, emphasizing Sui's potential in various industries, including gaming and AI, and the importance of bringing Web3 to Web2 users.

Takeaways

Sui aims to be a global coordination layer for intelligent assets, focusing on usability and accessibility for developers outside of the Web3 native community.
The Sui blockchain differentiates itself with its object-based system and unlimited throughput, allowing for faster and more scalable transactions.
Sui has applications in various industries, including gaming and AI, and aims to bring Web3 to Web2 users by providing seamless integration and improved user experiences.
The upcoming release of Mysticeti, the new consensus engine, will further enhance the speed and efficiency of the Sui blockchain.
The long-term vision of Sui is to build a decentralized web stack that encompasses various layers, including storage, bandwidth, and more, to create a fully decentralized internet infrastructure.

Chapters |

00:00 Introduction and Background

02:20 Working at Facebook Meta

06:07 Comparison with Aptos and Move Language

09:21 SWE as the Blockchain for Developers

11:12 Differences between Move and Solidity

14:08 Bringing Web3 to Web2

20:07 Future Plans and Mississetti Consensus Engine

25:25 SWE's Vision: Coordination of Intelligent Assets

28:06 Asset Model and Non-Financial Applications

32:14 Importance of Mysticeti Consensus Engine

Sign Up for THE PROTOCOL NEWSLETTER

EPISODE LINKS |

Sui

Mysten Labs

Sui Concepts Overview

Move Concepts | Sui Documentation

The Protocol has been produced and edited by senior producer Michele Musso and our executive producer is Jared Schwartz. Our theme song is “Take Me Back” by Strength To Last.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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