Welcome to The Chopping Block, where Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner dive into the crypto universe's hottest topics. In this episode, we're tackling pressing questions: "Are Memecoins a Good Bet for Institutional Investors?" and "Can BASE Catalyze a Shift in Ethereum's DeFi Dominance?" Amidst Ethereum's upgrades, we explore the impact on scalability and the Layer 2 landscape. The legal entanglements of KuCoin with the DOJ and Beba's lawsuit against the SEC prompt a discussion on "What Do These Legal Challenges Mean for Crypto's Regulatory Future?" Additionally, we analyze the Blast Layer 2 security breach, questioning its implications for decentralized finance's security. Plus, a hypothetical scenario with Mr. Beast airdropping his own token leads us to ponder, "Can Celebrity-Endorsed Cryptocurrencies Create Real Value?" Join us as we dissect these pivotal developments, offering insights into the strategic maneuvers and policy shifts shaping crypto's future. Tune in for a compelling narrative on innovation and speculation in the rapidly evolving world of blockchain technology.

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

🔹 BASE's Growth and Challenges: Discussing BASE's explosive growth amidst Ethereum's upgrades, and how it's shaping the Layer 2 landscape amidst rising gas fees and scalability solutions.

🔹 Beba & DeFi Education Fund vs. SEC: Unpacking the lawsuit against the SEC for clearer airdrop regulations, highlighting its significance for future of airdrops.

🔹 KuCoin's Legal Battle: Insights into KuCoin's indictment by the DOJ, emphasizing the exchange's challenges and the broader implications for crypto regulations.

🔹 Blast L2 Security Incident: Analyzing the $62 million hack on Blast L2, exploring its impact on security perceptions and the debate over centralized control in DeFi.

🔹 Institutional Engagement with Memecoins: Exploring the surprising trend of reputable investment firms and family offices venturing into the volatile world of memecoins. 

🔹 The Mr. Beast Coin Hypothesis: Exploring the theoretical impact of a Mr. Beast coin on the crypto economy, debating whether celebrity-backed coins can lead to genuine wealth creation.

⭐️Haseeb Qureshi, Managing Partner at Dragonfly 

⭐️Tom Schmidt, General Partner at Dragonfly 

⭐️Tarun Chitra, Managing Partner at Robot Ventures

⭐️Robert Leshner, Founder of Compound

BEBA LLC and DEFI EDUCATION FUND v. SEC - https://www.defieducationfund.org/_files/ugd/84ba66_3f7a8f2ca6614d7381122cb1beeed4a8.pdf 

Prominent Global Cryptocurrency Exchange KuCoin And Two Of Its Founders Criminally Charged With Bank Secrecy Act And Unlicensed Money Transmission Offenses - https://www.justice.gov/usao-sdny/pr/prominent-global-cryptocurrency-exchange-kucoin-and-two-its-founders-criminally 

Tweet “Learn about that touch and the intersection of AI and blockchain” - https://twitter.com/NEARProtocol/status/1772494712525426865 

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In this episode, Laura interviews Meg Lister, GM of Grants Labs at Gitcoin, and Kevin Owocki, co-founder of Gitcoin. 

They discuss the evolution of Gitcoin from a centralized platform to a decentralized suite of protocols, Gitcoin 2.0, which allows any Ethereum Virtual Machine (EVM) based ecosystem to fund its public goods. They also talk about the various funding mechanisms available, including quadratic funding, retroactive public goods funding, and conviction voting. 

Learn more: What Is Retroactive Public Goods Funding?

The team is also exploring more futuristic concepts such as private voting systems, angel investing 2.0, and impact attestations. The ultimate goal for Gitcoin is to create a capital allocation infrastructure that funds what matters to communities, whether they are towns, states, countries, or online interest groups.

• Polkadot

Gitcoin

Allo Protocol

• Announcement thread

Web3 Ecosystem Funding

Quadratic funding

Retro PGF

• Unchained: What Is Retroactive Public Goods Funding?

Passport

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On Wednesday, BlackRock, the world's leading asset management firm, announced the launch of a tokenized investment fund, the BlackRock USD Institutional Digital Liquidity (BUIDL) Fund, developed in collaboration with Securitize. 

Carlos Domingo, founder and CEO of Securitize, discusses the launch of the fund, which is native to the public Ethereum blockchain and aims to bring an institutional-grade cash management product to crypto institutions, offering faster token issuance, redemption, and transferability. 

Learn more: What Is Real-World Asset (RWA) Tokenization? A Beginner's Guide

He also talks about how Blackrock has embraced crypto, how the launch of the fund was “front run” by crypto Twitter, and how Blackrock will deal with issues such as the fund being dusted with ETH tainted by sanctioned Tornado Cash ETH. 

Show highlights:

BlackRock USD Institutional Digital Liquidity (BUIDL) Fund

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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.

⭐️Haseeb Qureshi, Managing Partner at Dragonfly 

⭐️Tom Schmidt, General Partner at Dragonfly 

⭐️Tarun Chitra, Managing Partner at Robot Ventures

⭐️Robert Leshner, Founder of Compound

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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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:

• Polkadot

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

OPNX

OX.FUN

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

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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:

Previous appearances:

• The Chopping Block: All About That Base With Jesse Pollak 

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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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.

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

🔹 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.

⭐️Haseeb Qureshi, Managing partner at Dragonfly 

⭐️Tom Schmidt, General Partner at Dragonfly 

⭐️Tarun Chitra, Managing Partner at Robot Ventures

⭐️Robert Leshner, Founder of Compound

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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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.

Read more: What Is EigenLayer? A Guide to the Decentralized ETH Restaking Protocol

• Polkadot

EigenLayer

Points

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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.

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

🔹 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.

⭐️Haseeb Qureshi, Managing partner at Dragonfly 

⭐️Tom Schmidt, General Partner at Dragonfly 

⭐️Tarun Chitra, Managing Partner at Robot Ventures

⭐️Robert Leshner, Founder of Compound

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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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:

Recent coverage on Unchained of Bitcoin’s surge: 

Previous coverage on the Unchained podcast of spot Bitcoin ETFs:

Ethereum spot ETF:

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