Unchained

Latest Episodes:

The Chopping Block: Memecoin Presales, MakerDAO’s Endgame, and BlackRock's Blockchain Bet! - Ep. 622 Mar 21, 2024

Show notes

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 week's episode, the squad dives into the riveting dynamics of meme coins and their undeniable sway over market sentiments, alongside a detailed exploration of BlackRock's groundbreaking leap into blockchain with its on-chain fund initiative. Is Solana redefining its role as the new haven for meme coin ventures, signaling a shift in blockchain platform dominance? And with Ethereum's recent 4844 and Dencun upgrades, can it hold its ground as the DeFi ecosystem's backbone amidst escalating competition? We delve into MakerDAO's ambitious 'Endgame' strategy, contemplating its potential to reshape governance within the DeFi sector. The conversation doesn't stop there; we untangle the complex web of crypto conspiracies and debate the evolving definition of 'fair launch' in the decentralized space. This episode is packed with analysis and insights as we navigate the speculative excitement of meme coins, the strategic moves of blockchain giants, and the transformative policies shaping the future of decentralized finance. Join us for a thought-provoking journey as we dissect these developments, with Robert Leshner shedding light on the alpha in Reg D filings, to unravel the narratives that could redefine the crypto ecosystem's future. Tune in for a compelling session that promises to peel back the layers of innovation, speculation, and strategic maneuvering in the ever-evolving crypto landscape.

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

🔹 Unraveling Crypto Conspiracies: Delving into the speculative theories surrounding the surge of memecoins and their potential orchestration by exchanges or other entities.

🔹 Redefining 'Fair Launch' in DeFi: A critique of the shifting meaning of 'fair launch' within the memecoin sector, highlighting the departure from traditional norms.

🔹 Solana as the New Memecoin Haven: Examining Solana's burgeoning role as the preferred platform for memecoin activity and what it signifies for blockchain innovation.

🔹 Ethereum's Technological Upgrades: Analyzing the implications of Ethereum's 4844 and Dencun upgrade for transaction fees, scalability, and the developer ecosystem.

🔹 Debating the Future of memecoins: Insights into the dynamic world of memecoins, from the rise of pre-sales on Solana to the broader implications for the crypto market.

🔹 The Evolution of MakerDAO: Discussion on MakerDAO's transformative 'Endgame' strategy, introducing new governance mechanisms and tokens to revitalize its ecosystem.

🔹 BlackRock's Entry into Crypto: A glimpse into BlackRock's strategic move to launch an on-chain fund, marking a significant step by a major institutional player into the crypto space.

Hosts

⭐️Haseeb Qureshi, Managing Partner at Dragonfly

⭐️Tom Schmidt, General Partner at Dragonfly

⭐️Tarun Chitra, Managing Partner at Robot Ventures

⭐️Robert Leshner, Founder of Compound

Disclosures

Links

Pump.fun - https://www.pump.fun

3AC’s Kyle Davies on Why He’s Crypto’s Lloyd Blankfein and Why He’s Not Sorry - https://unchainedcrypto.com/3acs-kyle-davies-on-why-hes-cryptos-lloyd-blankfein-and-why-hes-not-sorry/

MakerDAO Endgame: Launch Season - https://forum.makerdao.com/t/makerdao-endgame-launch-season/23857/1

What Is a Fair Launch in Crypto? - https://www.coingecko.com/learn/what-is-a-fair-launch-in-crypto

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3AC's Kyle Davies on Why He's Crypto's Lloyd Blankfein and Why He's Not Sorry - Ep. 621 Mar 19, 2024

Show notes

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

Few crypto figures have been as vilified as Kyle Davies, the co-founder, along with Su Zhu, of crypto hedge fund Three Arrows Capital, which imploded in mid-2022, losing $3 billion and bringing many pillars of the crypto industry down with it. Davies and Zhu have been accused of, among other things, lying about 3AC’s assets as the firm was imploding, trying to borrow money when the firm was insolvent, and seeking funding from the Mafia, all of which Davies denies.

But he remains unapologetic about 3AC’s demise, saying most, if not all, companies eventually go bankrupt, and that 3AC had a “pretty spectacular” ten-year run. He joined Unchained to explain why he and Su Zhu were ordered to prison in Singapore for non-compliance with the liquidation proceedings, Zhu’s “six weeks meditating” (in prison), where he’s living now, why he and Zhu went to Bali after the bankruptcy, his $25,000-a-month fee for consulting for crypto bankruptcy exchange OPNX, his and Zhu’s current work advising crypto derivatives platform OX.FUN, and what he wishes he would have done differently in terms of 3AC’s wind down.

Show highlights:

Whether Kyle is cooperating with 3AC liquidator Teneo and his opinions of that firm
His and 3AC co-founder Su Zhu’s prison sentences in Singapore
Why Kyle says he didn’t know about the scheduled court date
Why Dubai levied fines against him, according to Kyle
Where he is living now
Whether or not he made misrepresentations about 3AC’s assets to lenders before its implosion, traded when the firm was insolvent, and borrowed money from the mafia
Why Kyle went to Bali after the bankruptcy
His defense of his $25,000 a month fee for consulting for OPNX
Why Kyle thinks his reputation post-3AC was still “huge” because all companies eventually go bankrupt
Gamified derivatives platform OX.FUN, where he is an advisor
His dreams of opening a cloud kitchen chicken restaurant
Why he filed a lawsuit against Sixth Man Ventures’ Mike Dudas
What he could have done differently at the time of 3AC’s collapse
Why Kyle is not sorry 3AC went bankrupt

Thank you to our sponsors!

Polkadot

Guest

Kyle Davies, OX.FUN advisor and co-founder of Three Arrows Capital

Links

Su Zhu’s Arrest

Unchained: Three Arrows Capital Cofounder Su Zhu Arrested in Singapore

3AC Founders’ Assets Frozen

CoinDesk: Court Freezes $1 Billion of Assets of Three Arrows Capital Founders

3AC Ventures

CoinDesk: Bankrupt Hedge Fund 3AC's Return as a VC Stirring Up Crypto Community

Davies and Su’s Post Bankruptcy Lives

New York Times: Their Crypto Company Collapsed. They Went to Bali
New York Magazine: ‘They Are Very Comfortable Lying’: How fallen crypto kingpins Su Zhu and Kyle Davies are dodging prison — and rebranding

OPNX

Wall Street Journal: Founders of Bankrupt Three Arrows Capital Plan Trading Platform for Distressed Crypto Debt
Cointelegraph: CoinFLEX creditors dissatisfied with restructuring to OPNX: Report
Unchained: 3AC Founders’ New Crypto Exchange OPNX to Shut Down
Cointelegraph: OPNX to shut down with mysterious new exchange as replacement
Decrypt: CoinFLEX Creditors React to OPNX Closure: 'They Have Left a Trail of Destruction'

OX.FUN

March 11 Twitter spaces on OX.FUN with Davies and Zhu

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How Ethereum’s Dencun Upgrade Could Lead to the Rise of Millions of Layer 3s - Ep. 620 Mar 15, 2024

Show notes

Ethereum’s long-awaited Dencun upgrade finally went live this week, and many L2s immediately saw their transaction fees fall dramatically, as was the intention. Among them was the Coinbase-incubated Base, which was created by Jesse Pollak. Pollak joined Unchained to discuss the impact Dencun was having on Base; how he thinks Layer 1s and Layer 2s will start to differ from one another and eventually spawn a multitude of specialized Layer 3s; his response to criticisms of the increasing use of Layer 2s, what he’s focusing on now, and why he supports using the word “onchain” over “crypto” or “web3.”

Show highlights:

The problem that Dencun is trying to solve
The benefits of blobs and blobspace
How Dencun has already reduced Base’s fees, but also increased its transactions
How Jesse thinks Layer 1s and Layer 2s will start to become differentiated from each other
The rise of Layer 3s
How Jesse addresses criticisms of fragmentation and centralization arising from the increasing use of Layer 2s
Why Jesse is particularly excited about two features of the Dencun upgrade—transient storage and increased composability between L1s and L2s
What Jesse and the Base team are focusing on now
Why Jesse thinks that “onchain” is a better word to describe the industry than “crypto” or “blockchain” or “web3”

Thank you to our sponsors!

Guest

Jesse Pollak, creator of Base at Coinbase

Previous appearances:

The Chopping Block: All About That Base With Jesse Pollak

Links

Recent coverage on Unchained of the Dencun Upgrade and Base:

CoinDesk:

Debating Dencun: Will Ethereum's Big Update Help or Harm the Network?

Jesse’s tweets on Dencun

Blobs / Proto-danksharding

Superchain

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The Chopping Block: The Ups-and Downs of Crypto since 2020 and where we are now! - Ep. 619 Mar 14, 2024

Show notes

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 week's episode the squad asks: Is MakerDAO setting a new precedent for DeFi protocols with its emergency rate hike? How significant is the role of meme coins in the crypto market's volatility, and what does Solana's prominence tell us about the future of blockchain platforms? Can Ethereum maintain its position as the backbone of DeFi amidst the growing competition from layer 1 and layer 2 solutions? This episode delves deep into the whirlwind discussions surrounding MakerDAO's sudden monetary policy adjustments, scrutinizing the balance between stability and adaptability in DeFi's fast-paced world. We explore the fascinating, yet often speculative, universe of meme coins, highlighting their impact on network activity and public perception of cryptocurrency's value. The conversation also navigates the evolving landscape of Ethereum as it faces challenges and opportunities in scalability and functionality. Join us as we tackle these thought-provoking questions, armed with Robert Leshner's expertise, to peel back the layers of complexity surrounding DeFi strategies, the meme coin craze, and Ethereum's strategic positioning. Tune in for a captivating session aimed at decoding these trends and offering insights into their potential to redefine the contours of the crypto ecosystem.

Show Highlights

🔹 MakerDAO's Monetary Strategy Shift: Exploring the implications of MakerDAO's emergency rate hike and its potential to redefine monetary policy in DeFi.

🔹 The Meme Coin Madness: Diving into the dynamics of meme coins in the crypto ecosystem, focusing on their impact on market volatility and investor behavior.

🔹 Ethereum's Position in the DeFi Ecosystem: Analyzing Ethereum's challenges and opportunities as it continues to be the backbone of decentralized finance amid rising competition.

🔹 The Crypto Evolution and Reflection: Reflecting on the progress of the crypto industry by comparing current discussions to traditional banking models, highlighting the maturation of the sector.

🔹 Solana's Influence in the Crypto Market: Investigating Solana's growing prominence for meme coin activity and what it signals about blockchain platform developments.

🔹 DeFi Protocols as Financial Antidotes: Discussing the role of DeFi protocols in offering alternatives to traditional financial systems and their potential to disrupt.

🔹 Intellectual Property Rights in a Digital Age: Speculating on the future of IP rights in the era of digital creation and AI, questioning the sustainability of current legal frameworks.

🔹 The Crypto Market's Bullish Trends: Analyzing the current bullish trends in the cryptocurrency market, including Bitcoin and Ethereum's price movements and the factors fueling optimism.

🔹 Governance and DAOs in Crypto's Future: Delving into the significance of decentralized autonomous organizations and governance models for the future of cryptocurrency and blockchain technology.

Hosts

⭐️Haseeb Qureshi, Managing partner at Dragonfly

⭐️Tom Schmidt, General Partner at Dragonfly

⭐️Tarun Chitra, Managing Partner at Robot Ventures

⭐️Robert Leshner, Founder of Compound

Disclosures

Links

Bitcoin Is Hitting All-Time Highs Around the World (CoinDesk) https://www.coindesk.com/markets/2024/02/29/bitcoin-is-hitting-all-time-highs-around-the-world/

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Why EigenLayer May Be the Most Innovative New Ecosystem Since Ethereum - Ep. 618 Mar 12, 2024

Show notes

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

Sreeram Kannan, founder of EigenLayer, and Olaf Carlson-Wee, founder and CIO of Polychain Capital, an investor in EigenLayer, say that the developer ecosystem around EigenLayer is sprouting up very fast, which reminds Carlson-Wee of the developer excitement in Ethereum’s early days.

They discuss the potential of EigenLayer, which uses a restaking mechanism to allow ETH stakers to reallocate their staked ETH and Liquid Staking Tokens (LSTs) to bolster security for other protocols. They cover how it could turbocharge Ethereum's rollup scaling roadmap and enable Ethereum to become a stack of decentralized software as a service providers. Additionally, they discuss the potential risks associated with restaking as well as how EigenLayer could work with AI.

Show highlights:

Sreeram's explanation of what EigenLayer is and what it allows on Ethereum
why Polychain invested in EigenLayer's seed round
why Sreeram believes that there are not just going to be three modules in blockchains, but thousands
the types of applications that can be built with actively validated services, according to Sreeram
why they both believe that EigenLayer will improve smart contracts
whether EigenLayer will help solve the liquidity fragmentation issue in Layer 2s
what Ethereum inclusion guarantees are and why they are important
the potential risks of EigenLayer and why Olaf doesn’t agree that EigenLayer results in rehypothecation
how attribution claims work in EigenLayer, allowing for "elastic scaling of security"
EigenLayer’s points program and the likelihood of a token
why Sreeram believes that an EigenLayer governance token wouldn't have the same issues as Lido's LDO
whether EigenLayer should be a core part of the Ethereum protocol itself
how AI and EigenLayer intersect and how to have permissionless innovation in the AI space

Thank you to our sponsors!

Polkadot

Guest:

Olaf Carlson-Wee, founder and CIO of Polychain Capital
Previous appearances on Unchained:
OG Olaf Carlson-Wee on Why His Crypto Thesis Is Stronger Than Ever
Olaf Carlson-Wee: 'If There Is a Money-Losing Exploit, the Money Is Gone'
Why The First Employee Of Coinbase Launched A Hedge Fund
To the Moon and Back With Polychain's Olaf Carlson-Wee
Special Episode with CNBC's Crypto Trader: Olaf Carlson-Wee on Why This Crypto Winter Is Different From Previous Ones
All Things Cryptoeconomics, Pt. 1, With Olaf Carlson-Wee and Ryan Zurrer of Polychain Capital
Sreeram Kannan, founder of EigenLayer
Previous appearance on Unchained: Do You Need to Think Twice Before Restaking Your Assets?

Links

EigenLayer

Unchained:
What Is Ethereum Restaking? A Beginner's Guide
ETHDenver’s 2024 Hackathon: Onchain Security, AI, and Gaming Fun Dominate the Winning Projects
A16z, Binance Labs Make Investments in EigenLayer Ecosystem
EigenDA Overview
Sreeram’s post on why “building on EigenLayer, therefore, doesn't negate the utility of an AVS token”

Points

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The Chopping Block: Meme Coin Frenzy, Decentralized AI, & Uniswap's Fee Strategy - Ep. 617 Mar 09, 2024

Show notes

Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner dive into the hot topics stirring the cryptocurrency world. Could Uniswap's fee switch revolutionize DeFi's economic model? What's the real potential of decentralized AI in blockchain, and how close are we to seeing its practical applications? And in the whirlwind of the crypto market, what makes meme coins like Jeo Boden not just viral, but influential? This episode offers a detailed analysis of Uniswap's strategic move to potentially activate fee switches, exploring its implications for liquidity providers and the broader DeFi landscape. We also navigate the promising yet challenging terrain of Crypto AI, dissecting decentralized inference and the feasibility of verifiable training. The phenomenon of meme coins, with a spotlight on Jeo Boden, is dissected for its impact on community engagement and market dynamics. Join us as we probe these intriguing questions, equipped with Robert Leshner's insights, to unravel the complexities of DeFi innovations, Crypto AI's frontier, and the unique ecosystem of meme coins. Tune in for an enlightening session that aims to demystify these trends and provide a clearer understanding of their role in shaping the future of cryptocurrency.

Show Highlights

🔹 Uniswap's Fee Switch Debate: Unpacking the implications of Uniswap's potential fee switch activation and its impact on DeFi's revenue models.

🔹 The Intricacies of Crypto AI: Diving deep into the world of Crypto AI, focusing on decentralized inference and the hurdles of verifiable training.

🔹 Meme Coin Phenomenon: Analyzing the cultural and economic forces behind meme coins like Jeo Boden and their sway in the crypto community.

🔹 Regulatory Winds in Crypto: Discussing the changing regulatory landscape and what Uniswap's move might signal about the future of DeFi regulation.

🔹 Market Predictions and Speculations: Exploring expert predictions on Bitcoin and Ethereum's price movements and the factors driving market optimism.

🔹 Technological Developments and Security: Delving into the significance of memory-safe programming and the White House's surprising tech endorsement.

🔹 Attested Data in the Age of Synthetic Media: Examining the role of cryptographically signed data in ensuring content authenticity in the blockchain era.

🔹 Decentralized Platforms' Disruption Potential: Probing the capability of decentralized platforms to reshape traditional social media models.

🔹 The Economic Model of DeFi: Discussing the potential transformation in DeFi's economic landscape post-Uniswap's fee switch implementation.

🔹 Crypto Culture and Community Dynamics: Investigating the unique cultural aspects of the crypto community, especially around meme coins and their market influence.

Hosts

⭐️Haseeb Qureshi, Managing partner at Dragonfly

⭐️Tom Schmidt, General Partner at Dragonfly

⭐️Tarun Chitra, Managing Partner at Robot Ventures

⭐️Robert Leshner, Founder of Compound

Disclosures

Links

Bitcoin Is Hitting All-Time Highs Around the World (CoinDesk) https://www.coindesk.com/markets/2024/02/29/bitcoin-is-hitting-all-time-highs-around-the-world/

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How, in 7 Weeks, Bitcoin ETFs Reached Inflows That Took Gold ETFs 3 Years - Ep. 616 Mar 08, 2024

Show notes

In this episode, Eric Balchunas, senior ETF Analyst at Bloomberg Intelligence, discussed the performance of Bitcoin ETFs since their launch two months ago.

Balchunas noted that the ETFs' performance exceeded his expectations, with a faster and more intense "second wind" than anticipated. He attributed this to a combination of asset managers buying in, retail interest, and the "ETF effect" where the knowledge of incoming flows encourages non-ETF investors to buy.

Balchunas also predicted that BlackRock's Bitcoin ETF would likely be the most successful of the nine new spot Bitcoin ETFs, while also doubting that any of the smaller issuers would bow out.

He also discussed the potential for spot Ether ETFs, but was less optimistic about their success compared to Bitcoin ETFs.

Learn more: Bitcoin ETFs Explained: What Are They & How Do They Work?

Show highlights:

Why the Bitcoin ETF performance in the past couple of weeks exceeded Eric's expectations
Whether Eric had ever seen the kind of hype around Bitcoin ETFs occur with other ETFs
How there has been a lot of retail interest in these past few weeks
Eric's insights into how bitcoin reached all-time highs again this week
Whether a good portion of the ETF volumes is sustainable and what's driving those large volumes
Whether it's safe to say that BlackRock is the winner among issuers
Whether the smaller issuers in terms of volume and AUM will close their ETFs
When options on Bitcoin ETFs will be approved
Whether in-kind redemptions will be allowed in the near future and the role of politics in that
Whether Grayscale will have to reduce its fees considering the huge outflows from GBTC
Why Eric believes that spot ether ETFs won't have as much demand as the bitcoin ETFs did
Reasons the SEC could use to reject spot ether ETFs
Whether issuers will rebalance their portfolios at the end of quarters
What Eric expects to see in terms of inflows by year’s end

Thank you to our sponsors!

Guest

Eric Balchunas, Senior ETF analyst at Bloomberg Intelligence
Previous appearances on Unchained:
Why Spot Bitcoin ETFs Are Likely to Finally Start Trading on Thursday
Will a Spot Bitcoin ETF Finally Get Approved?

Links

Recent coverage on Unchained of Bitcoin’s surge:

Previous coverage on the Unchained podcast of spot Bitcoin ETFs:

Ethereum spot ETF:

BitMEX Blog: Ethereum ETFs & Staking
Eric’s tweet on ether ETFs
Unchained:
Why Spot Ether ETFs Likely Won’t Steal Bitcoin’s Thunder — Even if Staking Is Included
Spot Ether ETFs Could Introduce New Concentration Risk in Ethereum: S&P Global

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The Catalysts for This Crypto Bull Market: AI, DeFi, Real World Assets? - Ep. 615 Mar 05, 2024

Show notes

In this episode of Unchained, Alex Pack, managing partner at Hack VC discusses the firm's recent $150 million fundraise, the challenges of raising capital in a bear market, and the firm's focus on early-stage Web3 infrastructure. He also shares his thoughts on the intersection of crypto and AI, the future of DeFi, and the importance of security in the crypto space. Pack believes that the current infrastructure of crypto is still in its early stages and needs significant improvement before it can reach mainstream adoption. He also sees potential in the development of more secure smart contracts and the integration of AI into decentralized applications.

Show highlights:

How Hack VC was able to raise $150 million in a bear market, especially after the blowups of FTX, 3AC, and Terra
Alex's interaction with SBF, whom he calls a "sociopath," and why he didn't invest in FTX
Hack VC's philosophy to "back hackers" in crypto
The goals behind Zuzalu, the new community that resembles Balaji Srinivasan's idea of a network state
What the main focus of Hack VC's investments are, including scalability, AI, and DeFi
Why Alex believes that "we are still so early"
How Alex believes crypto and artificial intelligence will intersect
The role of AI agents and how to use them in decentralized applications
Why he thinks that EigenLayer is a great solution for middleware applications
Alex's opinion on the modular vs. monolithic approach for scaling blockchains
How DeFi survived the last bear market, contrasted with the collapses of CeFi companies like Celsius, BlockFi and FTX
Whether algorithmic stablecoins can ever work and what Alex thinks of Ethena's USDe
How to improve security in crypto, according to Alex
Why the outcome of the Bitcoin ETFs exceeded Alex's expectations
What he believes the catalysts are for the next bull market

Thank you to our sponsors!

Polkadot

Guest:

Alex Pack, Managing partner at Hack VC
Previous appearances on Unchained:
Dragonfly Capital on Why Ethereum Is So Far in the Lead
‘The Last Big Whale’: Why the Crypto Contagion of 2022 Eventually Hit Genesis

Links

New fund

Stablecoins:

EigenLayer ecosystem

Modular vs. monolithic approach

Crypto x AI crossover

Zuzalu

Decrypt: I Spent a Month Inside Vitalik Buterin’s Social Experiment—Here’s What It Was Really Like

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Bitcoin’s Price Is Way Up. And $48 Trillion in Wealth Just Got Access - Ep. 614 Mar 01, 2024

Show notes

After a week in which Bitcoin nearly hit its all-time high, Alex Thorn, head of firmwide research at Galaxy, joins Unchained to discuss the pivotal role of ETF inflows in Bitcoin's recent price surge, the nuanced behaviors of long-term versus short-term holders, and the potential impacts of upcoming halvings and institutional involvement on the market's future trajectory.

Alex offers deep insights into the market value to realized value Z-score, explaining its relevance in assessing Bitcoin's valuation. He also delves into the implications of major financial institutions like Merrill and Wells Fargo embracing Bitcoin ETFs for their clients. Furthermore, Thorn speculates on the timing and conditions for an "altcoin season" and shares his price predictions for Bitcoin by the end of the year.

Learn more: Bitcoin ETFs Explained: What Are They & How Do They Work?

Show highlights:

The main drivers for Bitcoin's recent surge, according to Alex
Whether long-term Bitcoin holders are selling due to the recent surge in price
What the MVRV (market value to realized value) Z-score is and how Alex uses this metric to assess the Bitcoin market
Why Alex believes this period in Bitcoin's history is distinct
What the implications of Merrill and Wells Fargo offering Bitcoin ETFs to their customers are, and how this expands Bitcoin's institutional appeal
How the upcoming halving could affect the price, especially since Bitcoin is already closer to all-time highs than previous times ahead of the halving
Why Alex thinks this might be the first time that highs in bitcoin and ether do not lead to an "altcoin season"
Alex's price prediction for Bitcoin by the end of the year

Thank you to our sponsors!

Guest

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

Links

Recent coverage on Unchained of Bitcoin’s surge:

Others:

Previous coverage on Unchained of spot Bitcoin ETFs:

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Famed White Hat Hacker Samczsun on How to Improve Crypto Security - Ep. 613 Feb 27, 2024

Show notes

Well-known white hat hacker and head of security at Paradigm samczsun recently took the wraps off a new security organization called the Security Alliance (SEAL) that offers a 911 hotline for immediate response to security threats, runs war games to simulate potential security incidents, and provides a safe harbor agreement to protect white hat hackers from legal liabilities.

He joined Unchained to discuss why he and his fellow white hat hackers decided to start the Security Alliance and how it operates, how the safe harbor agreement works, the measures he takes to maintain his anonymity and why, the top security measures people in crypto should take to protect themselves, and what attack areas in crypto Sam still considers “scary.”

Show highlights:

How samczsun got into white hat hacking
The most memorable saves and rescues sam was able to perform
Whether there's a reason why sam is so good at noticing bugs in crypto
The origin of his samczsun handle
What the Security Alliance is and why it was formed
How SEAL would approach a bug or a hack
Whether black hat hackers are trying to exploit open groups
Why the work in the group is volunteered, not paid, and whether that's sustainable
How the SEAL War Games help in training on how to respond to an incident in Web3
What the Safe Harbor Agreement is and what it aims to accomplish for white hat hackers
How sam protects his identity and whether his coworkers know what he looks like
The top security measures people working in crypto should take
How projects should approach the audit for their smart contracts given it's an expensive endeavor
What attack vectors still scare sam

What is ‘White Hat Hacking’?

White hat hacking, often referred to as ethical hacking, is a cybersecurity practice where skilled computer experts use their knowledge for good, employing the same methods as malicious hackers (black hat hackers) but with a significant difference: they do so with permission and for a constructive purpose. These ethical hackers identify vulnerabilities in computer systems, networks, or applications before malicious attackers can exploit them. By detecting and resolving these security weaknesses, white hat hackers help organizations strengthen their defenses against cyber threats.

Thank you to our sponsors!

Guest:

Samczsun, CEO of Security Alliance (SEAL) and Head of Security at Paradigm
Previous appearances on Unchained: The Chopping Block: Top White Hat Hacker Samczsun Discusses the State of Crypto Security

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