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Compound Finance Governance, Strategic Bitcoin Reserves, & BitClout's Legal Woes- The Chopping Block - Ep. 682 Aug 01, 2024

Show notes

Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Robert Leshner, and Tarun Chitra explore the latest trends in the crypto world. In this episode, we dive into topics like the potential U.S. strategic Bitcoin reserve proposed by Trump and political figures, and its implications for the institutional adoption of Bitcoin. The episode explores the recent turmoil in DAO governance through the example of Compound's voting mishap with a controversial proposal, analyzing the role of activist investors. The squad also reflects on the legal challenges faced by the founder of BitClout, Nader Al-Naji, who was charged with misappropriation of funds, offering insights into the importance of transparent and ethical governance in the crypto industry.

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

Show highlights

🔹 Analysis of the potential implications of U.S. strategic Bitcoin reserves as discussed by presidential candidates, focusing on how this could affect global crypto policies and market reactions.

🔹 Exploration of the influence of regulatory environments on DAO participation, particularly how U.S. funds are hesitant to vote due to potential legal liabilities.

🔹 Examination of the controversial proposal by the 'Golden Boys' on Compound Finance and the role of activist investors in DAO governance.

🔹 Discussion on the complexity and innovation in crypto governance models, with examples of Compound and the challenges faced by DAOs in managing proposals.

🔹 Debate on the role of governance structures and how they can evolve to prevent malicious actions by large stakeholders.

🔹 Review of the SEC and DOJ charges against BitClout founder Nader Al-Naji for misappropriation of funds and misleading investors.

🔹 Overall reflection on the responsibility of crypto project leaders in maintaining transparency and ethical financial practices.

Hosts

⭐️Haseeb Qureshi, Managing Partner at Dragonfly

⭐️Tom Schmidt, General Partner at Dragonfly

⭐️Robert Leshner, CEO & Co-founder of Superstate

⭐️Tarun Chitra, Managing Partner at Robot Ventures

Disclosures

Links

DOJ - Founder Of “BitClout” Digital Asset Charged With Fraud In Connection With Sale Of “BitClout” Tokens: https://www.justice.gov/usao-sdny/pr/founder-bitclout-digital-asset-charged-fraud-connection-sale-bitclout-tokens

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Bits + Bips With Nic Carter: Trump’s Promises, Kamala’s Shift & ETH’s ‘Narrative Problem’ - Ep. 681 Jul 31, 2024

Show notes

In this episode of Bits + Bips, hosts James Seyffart, Alex Kruger, and Joe McCann dive deep with Nic Carter into the game-changing promises Trump is making to the crypto community, Kamala Harris’s unexpected policy shifts, and the explosive rise of Solana.

Plus, Nic reveals his unexpected journey into amateur fighting and tackles the pressing issues around Ethereum ETFs, and what ecosystem he’s been funding more as of late.

Show highlights:

00:00 Intro
01:23 Why Alex believes the conference was one of the most incredible moments in the history of crypto
10:00 Nic’s reaction to Trump mentioning breaking down ‘Operation Chokepoint 2.0,’ a term that Nic himself coined
13:44 Nic’s karate fight and his journey to becoming an amateur fighter
21:42 Why Nic thinks that there’s no chance that the Lummis bill proposing the US government establish a strategic bitcoin reserve will pass
29:31 The significance of Trump’s promises at Bitcoin Nashville
36:26 How Tether is comparable to the Eurodollar system
39:41 What the potential impacts are of the Fed's language during their upcoming meeting
47:17 The implications of the Harris campaign's outreach to reset relations with crypto companies
55:44 How the ETH ETFs launch went and why Nic says that Ethereum has a “narrative problem”
59:34 How Solana has been ripping lately and Joe’s response to some of the criticisms
1:07:22 How Nic, as a VC, sees the ETH vs. SOL debate and how founders are increasingly choosing Solana

Hosts:

James Seyffart, Research Analyst at Bloomberg Intelligence
Alex Kruger, Founder of Asgard
Joe McCann, Founder, CEO, and CIO of Asymmetric

Guest

Nic Carter, general partner at Castle Island Ventures

Links

Bitcoin Conference:

Trump’s speech:
Unchained:
At Bitcoin Conference, Trump Promises to Fire SEC Chair Gary Gensler If He Wins
Trump Has Made Promises to Crypto Voters. If He’s Elected, What Could He Actually Do?
Lummis proposal:
Unchained: A Bitcoin Strategic Reserve for the U.S.? Senator Cynthia Lummis Reveals Her Bill
The Block: Hong Kong lawmaker advocates for including bitcoin in financial reserves following Trump’s speech |
Democrats/Harris seeking “reset”
Letter from Democratic politicians to DNC chair to put crypto plank in Democratic party platform:

ETH ETFs Debut:

Solana’s ripping:

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Why Gary Gensler Will Likely Be Out as SEC Chair No Matter Who Wins the Election - Ep. 680 Jul 30, 2024

Show notes

As the 2024 elections approach, crypto voters are a real bloc that could be a deciding factor in what looks to be a tight race.

In this episode, Sheila Warren of the Crypto Council for Innovation and Justin Slaughter from Paradigm discuss the significance of Trump appearing at Bitcoin 2024, promising the crypto community pretty much everything on its bucket list, the Democrats’ seeming pro-crypto shift behind the scenes, and the game theory around Gary Gensler’s future (likely not at the SEC).

Plus, they cover the significance (and likelihood of passing) of the Bitcoin Strategic Reserve Bill proposed and to be introduced by Sen. Cynthia Lummis, what would it take for Kamala Harris to show that she truly is a crypto-friendly candidate, and what the Democrats would have to do to undo the damage done by Gensler and win some of the crypto vote.

Lastly, they explore the potential impact on the SEC of the Supreme Court’s decision to overturn the Chevron doctrine.

Show highlights:

00:00 Intro
02:08 The significance of a US Presidential candidate, Trump, embracing Bitcoin
04:59 What Justin’s and Sheila’s takes are on the Democrats' sudden shift towards embracing a pro-crypto agenda and whether they can catch up
15:03 The key factor in Trump's shift from giving crypto platitudes to making substantive promises that top the crypto community’s wish list
20:21 How significant crypto could be in influencing the election, particularly in swing states
23:52 Whether Trump would even be able to fire Gary Gensler as SEC Chair, as he has promised
33:23 How the dynamics between Elizabeth Warren and Kamala Harris differ from the relationship Warren has with Biden
42:48 What could happen with the SEC Commissioner if Harris wins the presidency
50:34 The meaning of the Strategic Bitcoin Reserve in the US
57:55 How JD Vance's status as a Bitcoin owner could influence crypto voters and whether Harris could pick a pro-crypto VP
1:05:43 The chances the Democratic Party adopts a crypto plank, and what it might include
1:09:9 Whether there’s a chance a crypto bill could be passed this year
1:14:49 How the Supreme Court's recent decision to limit agency power by overturning the Chevron doctrine could impact the SEC's approach to crypto regulation
1:20:45 How Harris can establish a new stance on crypto while distancing herself from Biden's administration, without appearing disloyal

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

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Guests:

Sheila Warren, CEO of Crypto Council for Innovation (CCI)
Justin Slaughter, Policy Director at Paradigm

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Why Congressman Ro Khanna Is Hopeful the Democratic Party Will Embrace Crypto - Ep. 679 Jul 26, 2024

Show notes

The Democratic Party has faced criticism from the crypto industry for its stance on the sector, but House Representative Ro Khanna is determined to change that narrative.

In this episode, he talks about his efforts to shift the party’s approach, his thoughts on the current regulatory environment, and his vision for a crypto-friendly future. He gives his insights on the implications of the Supreme Court’s overturning of the Chevron doctrine, the potential for a crypto bill this year, and his upcoming remarks at the Nashville Bitcoin conference.

Plus, if you are a single-issue voter, he’s got something to say to you.

Show highlights:

00:00 Intro
01:36 How Rep. Khanna is working to change the Democrat approach to crypto policy in the U.S.
04:54 What Rep. Khanna's response is to formerly Democratic crypto voters, such as Marc Andreessen and Ben Horowitz, who have decided to vote for Trump this election
07:12 What Rep. Khanna would like to see in a potential crypto plank of the Democratic Party platform
07:58 Who Rep. Khanna believes should be the next SEC chair under a potential Harris administration
08:41 His thoughts on Christy Goldsmith Romero's nomination as chair of the FDIC
09:37 Rep. Khanna's perspective on how to convince Democratic Party members about the benefits of crypto
11:21 How Rep. Khanna views the Supreme Court's overturning of the Chevron doctrine and its implications for crypto
13:29 What key points Rep. Khanna will address in his upcoming remarks at the Bitcoin conference
14:16 What broader implications Rep. Khanna sees in the vote and its potential impact on the crypto industry
15:43 Whether a crypto bill could pass this year in Congress
18:11 Crypto Recap

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

Thank you to our sponsors!

Guest

Ro Khanna, U.S. representative from California
Previous appearance on Unchained: Congressman Ro Khanna: How to Get More Democrats into Web3

Links

Recent coverage of Unchained on politics and the elections:
Congressman French Hill on Crypto and His Top Pick for the Next SEC Chair
Anthony Scaramucci on Why He Supports Biden and Thinks He, Not Trump, Is Best for Crypto
Why Many Democrats, Including the White House, Have Come Around on Crypto
Senator Cynthia Lummis on Why Crypto Now Has Bipartisan Support in Congress

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Apps on the TON Blockchain Have Become Extremely Popular. Is It Sustainable? - Ep. 678 Jul 23, 2024

Show notes

The Open Network, aka TON, has been on a tear since late February. TVL has skyrocketed 34x since the beginning of the year, reaching over $750 million as of the time of recording. The price of TON has more than tripled from about $2 to $7, and daily active addresses recently exceeded those of Ethereum in May and June. Games with fun names like Hamster Kombat and Catizen are gaining traction, and Pantera Capital, an OG crypto investor, is making its largest investments yet in TON.

In this episode, Alena Shmalko and Jack Booth from the TON Foundation discuss how TON has managed to garner this traction, especially after a rocky start when the SEC went after the original founder, Telegram.

Show highlights:

00:00 Intro
02:13 Alena’s and Jack’s backgrounds and how they ended up at TON
05:35 How TON evolved from its origins with Telegram to its current status and how it began getting traction this year, according to Jack
11:21 How The Open League helped TON grow its TVL and other important metrics
15:40 How Telegram's collaboration with TON has evolved through time and how much they work together
24:47 Whether there are plans for TON to integrate with apps beyond Telegram
30:15 What in TON’s architecture allows it to be extremely scalable
33:20 The mechanics of Notcoin and why it has been so successful
36:49 Whether the rise of games like Notcoin and Hamster Kombat can be sustainable
46:05 The importance of USDT in Ton
51:53 When might a Bitcoin trustless bridge be deployed and why it could be significant
54:43 Whether TON is being used by criminals and what could be done to combat it
58:59 What strategies will lead TON to have $1 billion in TVL by the end of the year

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

Thank you to our sponsors!

Polkadot

Guests:

Alena Shmalko, Ecosystem Lead at the TON Foundation
Jack Booth, Director of Marketing at the TON Foundation

Links

History & Structure

Notcoin:

Hamster Kombat

Cointelegraph: Hamster Kombat destined for Guinness World Record?

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Congressman French Hill on Crypto and His Top Pick for the Next SEC Chair- Ep. 677 Jul 19, 2024

Show notes

In this episode of Unchained, Congressman French Hill provides an insider's perspective on the present and future of crypto regulation.

Hill delves into the ongoing legislation and the implications of the FIT21 Bill, shares his views on who should succeed Gary Gensler as SEC chair if Trump is re-elected, and discusses the controversial role of the CFTC in regulating the crypto industry. He also touches on the potential impacts of the Chevron doctrine being overturned by the Supreme Court, Trump’s evolving stance on crypto, and the latest developments in the Binance executive detention case in Nigeria.

Show highlights:

00:00 Intro
01:26 How Rep. Hill's long-time passion for technological advancement led to his involvement in crypto and blockchain
04:00 The current state of ongoing legislation and why Rep. Hill is proud of the FIT21 bill
08:49 Who would be his top pick to chair the SEC if Trump is re-elected as president
11:42 Why he supports having the CFTC regulate the spot crypto markets
12:40 How he thinks teams should launch tokens in the US
15:02 How he thinks the overturning of the Chevron doctrine will impact crypto
20:02 Why Trump changed his mind on crypto, according to Rep. Hill
23:14 Why Congressman Hill is running for chair of the House Financial Services Committee
25:14 The update on Tigran Gambaryan, the Binance executive detained in Nigeria, whom Rep. Hill visited recently
28:13 Crypto News Recap

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

Thank you to our sponsors!

Guest

Congressman French Hill

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The Chopping Block: Trump's VP Pick, SEC's Future, and Congress' Crypto Legislation - Ep 676 Jul 18, 2024

Show notes

Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Robert Leshner, and Tarun Chitra explore the latest trends in the crypto world. In this episode, we invite Laura Shin and special guest Kristin Smith of the Blockchain Association to discuss the latest in crypto politics. We dive deep into JD Vance's VP candidacy alongside Donald Trump and its implications for the crypto industry. We also explore the impact of recent political events on the crypto markets, the potential outcomes of key legislative efforts, and the future of the SEC post-2024 elections. Don't miss this insightful conversation on how the shifting political landscape might shape the future of crypto in the U.S.

Show highlights

🔹The attempted assassination of Donald Trump and its effects on the crypto market, including his announcement of JD Vance as his running mate.

🔹Analysis of Trump's changing stance on crypto, and his increasing willingness to engage with the industry and its leaders.

🔹Explanation of the Vice President's role in setting financial services and innovation policy, especially in a potential Trump administration.

🔹 Speculation on whether Gary Gensler will step down if Trump wins and what this could mean for crypto regulation.

🔹 Overview of recent meetings between crypto executives and White House officials, signaling a shift in the Biden administration's approach to the industry.

🔹 Examination of the significant fundraising by crypto PACs like the Fair Shake PAC and their impact on political and regulatory decisions.

🔹Discussion on the Digital Commodities Act, market structure bills, and the challenges of passing crypto legislation in the current congressional session.

🔹 The evolving bipartisan support for crypto legislation and the importance of maintaining this support for future regulatory clarity.

Hosts

⭐️Haseeb Qureshi, Managing Partner at Dragonfly

⭐️Tom Schmidt, General Partner at Dragonfly

⭐️Laura Shin, Journalist, Author of ‘The Cryptopians,’ founder and CEO of Unchained

Guests

⭐️Kristin Smith, Chief Executive Officer of Blockchain Association

Disclosures

Timestamps

00:00 Intro
02:15 Trump & JD Vance
10:27 Politicians Stance on Crypto Policy
27:41 Crypto's Lobbying Efforts
34:56 Crypto's Political Influence
36:58 SEC Enforcement and Legal Battles
39:19 Speculations on Biden Administration's Crypto Stance
49:48 Legislative Pipeline and Market Structure Bills
01:01:36 Future of Crypto Regulation

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Bits + Bips: How to Play the ‘Trump Trade’ in Crypto After the Assassination Attempt - Ep. 675 Jul 17, 2024

Show notes

In this episode of Bits + Bips, hosts James Seyffart, Alex Kruger, and Joe McCann, joined by guest Jack Platts, dive into the market's reaction to the recent assassination attempt on former President Donald Trump, looking at how this event will influence the 2024 U.S. presidential election—and the crypto markets.

They also cover potential rate cuts: Could there be a cut this July? How big might the rate cut be in September? Could the decision ever be influenced by the upcoming election?

They also give their predictions for what percentage of the BTC ETF inflows the ETH ETFs will reach, and James talks about what he’s expecting for Grayscale’s ETHE (hint: his view would be positive for ETH).

Finally, they delve into what’s next for Bitcoin as the German government runs out of BTC and Mt. Gox distributions begin. Is it up only now?

Show highlights:

00:00 Intro
01:18 Whether the Trump shooting has settled the election and whether the event caused a “flight to safety”
11:23 How election markets are becoming a place to watch election odds and whether crypto “leans right”
20:16 Whether rate cuts are coming in July or September and how much they’ll cut: 25bps or 50bps
29:06 How Joe views the relationship between global liquidity cycles, rate cuts, and Bitcoin's potential rise
34:41 What new updates there are about the Ethereum ETFs and their expected launch
42:08 Why Solana hasn't outperformed significantly since the Trump news
43:25 What market breadth indicates about the current market rally and the impact of rates in small caps
49:01 Everyone’s predictions of ETH ETF inflows and how much outflows we’ll see on Grayscale’s ETHE
53:04 What’s next for BTC after the German government is out of bitcoin, and with Mt. Gox distributions starting this week

Hosts:

James Seyffart, Research Analyst at Bloomberg Intelligence
Alex Kruger, Founder of Asgard
Joe McCann, Founder, CEO, and CIO of Asymmetric

Guest:

Jack Platts, Co-Founder & Managing Partner at Hypersphere Ventures

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Iggy Azalea on Memes, OnlyFans, and Her Plans to Make MOTHER a Success - Ep. 674 Jul 16, 2024

Show notes

Iggy Azalea joins Unchained to share the story of how the $MOTHER token got started (spoiler: there was a brush with a potential scammer), her stresses during the launch, and what she plans to do about the price slumping over 60% since the all-time high. A master of memes and OnlyFans, she talks about how she is using her experience in both realms to make MOTHER a success, even though she has yet to make any money from the token.

She also discusses her beef with Ethereum creator Vitalik Buterin, the allegations that there was insider trading of MOTHER, and how she plans to avoid regulatory action.

Show highlights:

00:00 Intro
01:27 How Iggy got “onchain” and interested in crypto
03:01 How Iggy's understanding of memes and the attention economy influenced her approach to music and now MOTHER
08:09 How a brush with “scammer” Sahil Arora sparked the MOTHER launch
11:56 How Iggy plans to integrate her token into her business ventures and what strategies she's using to achieve this
16:33 Why she chose two market makers – DWF Labs and Wintermute – and why she decided to name the coin "Mother"
23:53 The lessons she learned from her OnlyFans that she is applying to MOTHER
33:54 Iggy’s response to Vitalik Buterin's criticisms of her coin
41:31 What strategies Iggy believes will bring $MOTHER out of its current slump
47:33 How Iggy responds to allegations of insider activity and dumping $2 million worth of her token
55:15 Whether she is concerned about regulators coming after her and what she's doing to prevent that
1:02:55 What Iggy thinks about the criticism regarding celebrities launching memecoins
1:08:49 Whether Iggy has a preference between Solana and Ethereum
1:11:36 How she’s trying to onboard other celebs into crypto, and her plans for integrating $MOTHER into mainstream culture and fan interactions

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

Guest:

Iggy Azalea, rapper, creator of $MOTHER

Links

DWF labs

CoinDesk:Iggy Azalea's MOTHER Token Jumps Over 50% After Partnering With DWF Labs

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The Chopping Block: The Role of Media in Crypto, Blockworks Op-Ed, and Apps vs. Infrastructure - Ep. 673 Jul 12, 2024

Show notes

Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Robert Leshner, and Tarun Chitra explore the latest trends in the crypto world. In this episode, Jason Yanowitz from Blockworks joins the squad to explore the media's significant role in the crypto industry. They discuss challenges faced by the media in meeting client demands and industry expectations, and highlight financial sustainability and biases. The hosts compare crypto media to mainstream journalism, examining the balance between journalistic integrity and revenue. They critique broader media trends, discussing monopolistic narratives and public dissatisfaction, with a specific look at political coverage. The episode concludes with reflections on the media's evolving role in truth dissemination amidst industry fragmentation.

Show highlights

🔹 The Airdrop Era: Examination of the potential end of the airdrop/token narrative.

🔹 Investing in Apps vs Infrastructure: Debate on funding apps versus infrastructure projects.

🔹 Crypto Media Trends: Analysis of shifts in crypto media, major acquisitions, and industry stance.

🔹 Challenges in Crypto Media: Ethical questions and investor pressures media firms face.

🔹 Future of Media: Trends in media companies, prediction markets, and trust dynamics.

🔹 Media Integrity: Exploration of media's perception, skepticism around its business motives, and flawed business models.

Hosts

⭐️Haseeb Qureshi, Managing Partner at Dragonfly

⭐️Tom Schmidt, General Partner at Dragonfly

⭐️Robert Leshner, CEO & Co-founder of Superstate

⭐️Jason Yanowitz, Founder of Blockworks

Disclosures

Timestamps

00:00 Intro
02:30 Airdrops and Token Valuations
04:04 Apps vs. Infrastructure
14:26 Venture's Not a Charity
22:41 Crypto Media Landscape
32:31 Revenue in Media
34:26 Trust as the Cornerstone of Media
35:27 The Blockworks Op-Ed Controversy
38:55 Navigating Media Bias and Trust
44:18 Balaji's Anti-Media Sentiment
49:57 The Future of Media and Truth

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