Unchained

The Chopping Block: The SEC Is Attacking Crypto – Will Gary Gensler Succeed? - Ep. 456


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Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Robert Leshner, Tom Schmidt, and Tarun Chitra chop it up about the latest news. This week, Polygon Chief Legal Officer Marc Boiron joins the show to examine the SEC’s recent enforcement ramp-up.

  • why Marc thinks NYDFS coming after Paxos is the most interesting thing to analyze in the SEC-BUSD spat
  • whether the SEC and NYDFS actions against Paxos were coordinated 
  • whether a stablecoin is a security and why the SEC might be inclined to go after Paxos
  • how a stablecoin could resemble a money market fund
  • whether the SEC action against BUSD consolidates Tether's dominance
  • why Robert is nervous about the ramifications of the Paxos situation for all of crypto
  • the unique characteristics of Kraken's staking services that led to settlement with the SEC
  • the meaning of the settlement for other custodial staking services and staking in general
  • why Robert voted in favor of the Uniswap governance proposal
  • why Haseeb is fine with how a16z voted in the proposal
  • how on-chain governance should be approached 

  • Hosts

    • Haseeb Qureshi, managing partner at Dragonfly Capital
    • Robert Leshner, founder of Compound 
    • Tom Schmidt, general partner at Dragonfly Capital
      Guest

      Marc Boiron, chief legal officer at Polygon


      Links


      Disclosures


      BUSD shutdown
      • WSJ:
      • Crypto Firm Paxos Faces SEC Lawsuit Over Binance USD Token
      • Regulator Orders Crypto Firm Paxos to Stop Issuing Binance Stablecoin
      • The Block: Gensler: SEC has been 'clear' on cryptocurrencies
      • Unchained: Circle Told NYDFS That Paxos-Issued BUSD Wasn’t Fully Backed


        SEC vs. Staking

        Ethereum ETH Staking Deposits

        Kraken to Discontinue Unregistered Offer and Sale of Crypto Asset Staking-As-A-Service Program and Pay $30 Million to Settle SEC Charges

        Coinbase’s staking services are not securities. And here's why. - Blog

        Uniswap governance drama
        • Unchained episode on the topic: Chris Blec on Why He Believes a16z’s Uniswap Vote Exposes DeFi as a Farce - Ep. 454 
        • Wormhole vs. LayerZero posts
        • Wormhole 
        • LayerZero
        • Explanation video from Unchained 

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