Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest in crypto. In this episode, things get personal as Haseeb and Tom break their silence on the DOJ’s shocking threat to criminally charge Dragonfly over its early investment in Tornado Cash. With Roman Storm’s trial nearing its conclusion, the crew unpacks the unprecedented legal risks facing developers, investors, and privacy protocols and what it means for the future of crypto in the U.S.

As Ethereum celebrates its 10th anniversary, a storm brews in court: Samourai  Wallet founders plead guilty, the DOJ backpedals on Dragonfly, and Roman Storm faces decades behind bars for writing code. Robert recounts his short-lived microcap M&A adventure (aka the Liquor Store Fiasco), and the gang reacts to a dramatic regulatory about-face from the SEC’s new crypto-friendly regime.

Is financial privacy now a crime? Will U.S. law catch up with crypto code? And what happens when TradFi tries to CT a public company? This episode hits hard — and nothing is off limits.

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

Show highlights

🔹 Dragonfly Named in Court – Haseeb and Tom break their silence after the DOJ threatens criminal charges over Dragonfly’s Tornado Cash investment.

🔹 Roman Storm on Trial – The Tornado Cash co-founder faces up to 45 years as the government tests the limits of crypto developer liability.

🔹 DOJ Walks It Back – After a media firestorm, prosecutors publicly reverse course and say Dragonfly is not a target.

🔹 Samourai  Wallet Pleads Guilty – Another privacy project folds under pressure — and possibly to bolster the Tornado Cash case.

🔹 Privacy Protocols Under Siege – The crew asks: Is building immutable software now a criminal act in the U.S.?

🔹 Tarun Breaks Down Autonomous Code – Why the government’s case against smart contracts reveals a deep misunderstanding of how DeFi works.

🔹 Robert’s Liquor Store Saga – CT’s favorite meme investor explains how he tried to take over a public company… and got mega-diluted.

🔹 SEC’s Project Crypto Leaks – Paul Atkins lays out a sweeping vision for crypto-friendly regulation and software protections.

🔹 Crypto’s Legal Future Hangs in the Balance – From subpoenas to policy pivots, this episode explores what’s next for developers, investors, and privacy itself.

Hosts:

⭐️Haseeb Qureshi, Managing Partner at Dragonfly

⭐️Robert Leshner, CEO & Co-founder of Superstate

⭐️Tarun Chitra, Managing Partner at Robot Ventures

⭐️Tom Schmidt, General Partner at Dragonfly 

⁠Disclosures⁠

Links:

American Leadership in the Digital Finance Revolution, by Paul S. Atkins, SEC Chairman

https://www.sec.gov/newsroom/speeches-statements/atkins-digital-finance-revolution-073125 

Timestamps

00:00 Intro

01:58 Background on Tornado Cash

03:50 Legal Challenges & Sanctions

06:36 DOJ's Actions & Dragonfly's Response

11:25 Implications for Privacy & Crypto

27:06 Samourai Case & Broader Implications

33:37 Robert's Liquor Store Saga

37:17 LQR House Challenges & Legal Issues

46:05 Lessons Learned from the LQR House

50:01 SEC's New Crypto Policy

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