Gurvais Grigg, Chainalysis public sector CTO, and Kim Grauer, director of research at Chainalysis, review the ransomware landscape. Show Highlights:

• their backgrounds and roles at Chainalysis
• how a ransomware attack works
• what types of businesses are usually targeted in ransomware attacks
• why ransomware as a service (RAAS) is a booming business
• why Kim and Gurvais believe the hacking group REvil is becoming more sophisticated
• what characteristic of REvil hints that the group could be affiliated with Russia
• how the RAAS business model works
• how ransomware payments can be tracked
• why ransomware reporting has a data problem
• why Bitcoin is the preferred method of payment amongst ransomware attackers
• what two factors makes BTC preferable to privacy coins
• how ransomware groups teach victims to transfer BTC
• how ransomware groups cash out of their BTC
• how counter-terrorism tactics can help fight ransomware attacks
• how the Department of Justice may have partially recovered part of the Colonial Pipeline ransomware payment
• what tools and strategies governments can and will use to battle ransomware

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Conjure: https://conjure.finance 

Episode Links

People

Kim Grauer - Director of Research at Chainalysis

• https://www.linkedin.com/in/kimberly-grauer-a9501144

Gurvais Grigg - Global Public Sector Chief Technology Officer at Chainalysis

Chainalsysis Ransomware Data

Ransomware Attacks

• Kaseya
• • https://decrypt.co/75246/what-the-revil-ransomware-attack-means-for-crypto

Other

• Chainalysis 
• • Twitter: https://twitter.com/chainalysis

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Christine Parker, partner at Reed Smith, summarizes the slew of regulatory headlines facing Binance and how such scrutiny may affect the exchange going forward. Show highlights:

• which countries are investigating Binance
• why it has been difficult for governing bodies to regulate Binance
• whether the reports that regulatory bodies, like the CFTC/IRS/DOJ, coming after Binance are correct
• when Christine expects regulators to make a move against Binance
• how hiring ex-regulators might help Binance in Congress
• whether Binance’s strategy of leaving countries with tight regulations helped or hurt the exchange
• what Christine thinks of Binance’s strategy to localize its business model 
• whether or not it is too late to avoid regulatory penalties for Binance
• why transitioning to a DAO business model would not absolve Binance of prior infractions
• how the BitMEX situation could inform Binance
• whether criminal charges could be in Binance CEO Changpeng Zhao’s future

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Oasis: https://oasisprotocol.org 

NEAR: https://near.org  

Episode Links

Christine Parker: https://www.linkedin.com/in/christine-parker-b09a31/

Binance Investigations

Binance Material

• CZ letter
• • https://www.binance.com/en/blog/421499824684902301/A-Letter-from-Our-CEO-Reflecting-on-Progress-and-the-Road-Ahead
• CZ Unchained appearance

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Aaron Wright, co-founder of OpenLaw and Professor at Cardozo Law, and Ross Campbell, SushiSwap core developer and LexDAO contributor, discuss the latest breakthroughs and legal implications in the burgeoning world of DAOs. Show highlights:

• how Aaron and Ross fell down the crypto rabbit hole
• whether a DAO, like Curve, could sue to protect its IP
• when a governance token might be considered a security
• who owns the copyright to a DAO
• how SushiSwap handles its open-source licenses
• why Ross views Uniswap’s business license as a good thing
• what an DAO is and how the idea stems from Bitcoin
• how Wyoming’s DAO law works
• what makes a Wyoming DAO different from a DAO registered as a Delaware LLC
• how an algorithmically managed DAO might work in the future
• why Aaron thinks a DAO should not be allowed to be manager-managed
• why wrapping a DAO into an LLC could be advantageous
• the difference between private and public ordering

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Conjure: https://conjure.finance 

Episode Links

People

Ross Campbell

• Social
• • Twitter: https://twitter.com/r_ross_campbell

Aaron Wright

• Social
• • Twitter: https://twitter.com/awrigh01

DAO Information

Basics:

Kain Warwick: DAO First Capital Formation

DAO Stats

Wyoming:

• https://www.wyoleg.gov/2021/Engross/SF0038.pdf
• https://lexnode.substack.com/p/wyomings-legal-dao-saster
• https://twitter.com/prestonjbyrne/status/1370002015644962816?s=20

Delaware:

Curve IP: 

• https://gov.curve.fi/t/cip-xx-enforce-curves-ip-rights/1890
• https://www.theblockcrypto.com/post/108561/the-first-dao-lawsuit-proposal-asks-if-curve-should-protect-its-ip

Uniswap V3

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Aleksander Larsen, co-founder and COO of Axie Infinity, discusses Axie Infinity’s recent growth, which has seen the platform do 20X the volume of NBA Top Shot in recent days. Show highlights:

• what is Axie Infinity?
• why there has been such an uptick in network activity and profitability
• how the Axie Infinity team came together 
• how Axie Infinity uses blockchain technology within its game
• how Axie Infinity leverages the ‘play to earn’ mania sweeping across Web3 applications
• what problems may arise as Axie Infinity starts to decentralize 
• how Axie Infinity is attempting to lower the expensive barrier to entry that comes with blockchain-based games
• why the Philippines is going crazy for Axie Infinity
• why building out a sidechain has been such a positive development for the company
• the two ways Axie Ininity makes money
• what’s next for Axie Infinity

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Oasis: https://oasisprotocol.org 

NEAR: https://near.org 

Episode Links

Aleksander Larsen: https://twitter.com/Psycheout86

Axie Infinity: https://axieinfinity.com/ 

Content

• Philippines: https://www.cnbc.com/2021/05/14/people-in-philippines-earn-cryptocurrency-playing-nft-video-game-axie-infinity.html

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Kevin Zhang, vice president of business development at Foundry, breaks down the latest developments surrounding China and bitcoin mining. Show highlights: 

• how he came across crypto and which Bitcoin OG he joined at Bitcoin.com to help start its mining operations arm
• what Foundry does and its relationship with Digital Currency Group (DCG)
• why DCG wanted to build out a mining infrastructure business
• what news from China in early March kickstarted the process of the mining ban
• how China’s Central Television broadcasting company might have brought extra scrutiny to cryptocurrencies 
• what the 100th anniversary of the Chinese Communist Party has to do with its Bitcoin mining ban
• why the Inner Mongolia and Sichuan Bitcoin mining bans were especially disruptive for Chinese miners
• how much of China’s hash rate Kevin estimates has been shut down since May
• where are miners relocating to 
• why Chinese mining equipment will not be allowed to turn on in the US
• whether or not China’s Bitcoin mining ban will stick
• why China banning bitcoin mining will be good for the network in the long run 
• what significant risk to Bitcoin’s network is solved by China banning bitcoin mining
• how much Bitcoin’s hash rate will drop and what effect this will have on miner revenue
• why Kevin thinks that Bitcoin is good for renewable energy
• how immersion cooling technology works
• what tangible benefits miners could find by moving to North America
• if El Salvador’s volcanic bitcoin mining plan is feasible
• what Kevin predicts will happen in the Bitcoin mining industry for the latter half of 2021

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Episode Links

Kevin Zhang

• Twitter: https://twitter.com/SinoCrypto 
• Mining tweet storms:
• • https://twitter.com/SinoCrypto/status/1407524150885994497

Foundry, Subsidiary of DCG

• Twitter: https://twitter.com/foundryservices

China’s Bitcoin Mining Ban

• Travis Kling noted 25 different announcements from China in June alone:

• Secondhand mining equipment prices are spiking
• • https://www.coindesk.com/chinese-logistics-firm-airlifting-bitcoin-mining-machines-to-maryland-report

• https://www.theblockcrypto.com/post/109301/secondhand-bitcoin-miner-supply-spiking-bitmain

• Bitcoin miners shut down, 26 farms affected after Sichuan bans BTC mining
• • https://www.coindesk.com/sichuan-becomes-latest-chinese-province-to-order-bitcoin-miner-shutdown
  • https://decrypt.co/74075/bitcoin-hashrate-falls-17-overnight-after-china-mining-crackdown
• China’s Inner Mongolia announced eight measures in its crypto ban

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Sam Bankman-Fried, CEO and founder of FTX, explains FTX’s sports-centric advertising model and talks about what is on his regulatory wish list going forward. Show highlights:

• why Sam is so excited to bring Tom Brady and Gisele Bündchen onto the FTX team
• how FTX decides on who to sponsor
• why so many of FTX’s sponsorship are targeting US customers
• what makes the sports industry such an attractive place to advertise for FTX
• how FTX’s tokenized stocks work
• what Sam learned from the GameStop/Robinhood situation
• what makes FTX’s tokenized stocks different from Binance’s offering
• how FTX is dealing with regulatory obstacles
• what item is on the top of Sam’s regulatory wishlist
• whether FTT is a security

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Episode Links

Sam Bankman-Fried

• Twitter: https://twitter.com/SBF_Alameda 
• Previous Unchained appearance: https://unchainedpodcast.com/why-the-gamestop-insanity-is-so-similar-to-crypto/ 

FTX

Website: https://ftx.com

Carbon credits: https://bitcoinmagazine.com/business/ftx-bitmex-to-become-carbon-neutral 

Tokenized Stocks

• FTX guidelines: https://help.ftx.com/hc/en-us/articles/360051229472-Tokenized-Stocks 
• CoinDesk: https://www.coindesk.com/ftx-follows-binances-lead-with-move-into-tokenized-stocks 

FTX Sports Deals

• NBA: https://www.coindesk.com/ftx-miami-heat-nfts 
• Tom Brady: https://decrypt.co/74771/tom-brady-and-gisele-bundchen-invest-in-ftx 
• TSM FTX: https://www.sporttechie.com/tsm-esports-signs-210-million-sponsorship-with-ftx-crypto-exchange

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Taylor Monahan, CEO of MyCrypto, and Tim Beiko, Ethereum Foundation core-dev facilitator, discuss the upcoming upgrade to the Ethereum network, EIP 1559. Show highlights:

• why Tim believes EIP 1559 is necessary
• what narrative is driving EIP 1559
• what problems the network upgrade will solve
• how Ethereum transactions/fees work
• whether gas prices are correlated with ETH/USD
• the 3 main protocol changes that EIP 1559 proposes
• why Taylor, as the CEO of a wallet provider, is wary of EIP 1559
• how EIP 1559 will affect Ethereum’s block size
• what changes wallet providers are considering due to EIP 1559
• whether ‘Black Swan’ events will be more or less likely after the network upgrade
• how EIP 1559 will affect miners
• whether Tim or Taylor believes that miners could fork Ethereum to stop EIP 1559
• how EIP 1559 will change the state of miner extractable value (MEV)
• how Taylor and Tim feel about the Ethereum as sound money narrative in light of EIP 1559
• when EIP 1559 will go live

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Episode Links

Taylor Monahan

• Twitter: https://twitter.com/tayvano_

Tim Beiko

• Twitter: https://twitter.com/TimBeiko

EIP 1559

• Resources: https://hackmd.io/@timbeiko/1559-resources

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Will Clemente, author of the BTC by WC3 newsletter, breaks down the current state of Bitcoin’s on-chain activity and explains why he believes the market is in a mid-cycle lull rather than turning bearish. Show highlights: 

• why Will is not worried about a bear market
• what indicators make Will believe BTC is in a mid-cycle consolidation
• who is selling and driving the recent market downturn
• why Will thinks the unwinding of derivatives is a significant factor in Bitcoin’s move below $30K
• what Will believe institutions are waiting on before entering the market again
• how Bitcoin cycles can be broken down into mini hype-cycles
• how long-term holders are acting on-chain
• the difference between long-term holders versus short-term holders during bear and bull markets
• why Will is interested in finding data on Latin American Bitcoin users
• how long the consolidation process might take
• what metrics Will has his eyes on for the latter half of 2021

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Episode Links:

Will Clemente

Twitter: https://twitter.com/WClementeIII

Newsletter: https://btcbywc3.substack.com/

Miscellaneous Links

Unchained w/ Willy Woo and Raphael Shultze-Kraft: https://unchainedpodcast.com/will-bitcoins-price-go-up-again-yes-according-to-on-chain-analytics/ 

Willy Woo and Will Clemente ratio: https://twitter.com/woonomic/status/1407403983023460354

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Aaron Lammer, author and host of the Exit Scam podcast, recounts the mysterious and controversial death of QuadrigaCX’s founder Gerald Cotton. Show highlights:

• A quick recap of QuadrigaCX
• why Aaron felt compelled to create a series on QuadrigaCX
• how Gerald Cotton, a lifelong Ponzi-addict, came to be the CEO of Canada’s largest crypto exchange
• what Ponzi-schemes Gerald ran before starting Quadriga CX
• why customers trusted QuadrigaCX and what red flags were readily apparent looking back
• the sketchy tactic Gerald used to single-handedly boosted QuadrigaCX’s trading volume by 30% 
• a new wife, empty wallets, a hastily written will, and the circumstances surrounding Gerald’s shocking death
• how Gerald’s dark web background might have prepared him to fake his own death
• what the chances are that Canadian authorities exhume Gerald’s body 
• why Aaron is skeptical Gerald’s widow was “in” on the QuadrigaCX fiasco

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Episode Links

Aaron Lammer

• Co-founder of Longform.org + co-host of Longform Podcast (2010+)

• Treats Media -- podcast platform (2018+)

• Exit Scam

• CoinTalk: https://medium.com/s/cointalk 

Podcast

Twitter: https://twitter.com/exitscampod 

Episodes: 

1. The Lost Password

Quadriga

Deep Dives: 

• CBC News

Details

• Ontario Securities Commission deems Quadriga an “old fashioned fraud” + “Ponzi”
• • https://www.vanityfair.com/news/2019/11/the-strange-tale-of-quadriga-gerald-cotten

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Jaynti Kanani, cofounder and CEO of Polygon, discusses why the layer 2 solution has seen so much success during a down crypto market. Show highlights:

• what factors have led to Polygon’s and MATIC's impressive performance YTD
• how Polygon is scaling Ethereum
• what types of projects are taking off on Polygon
• how Polygon is attempting to address the issue of layer 2 composability 
• how Polygon plans to use its latest funding
• why Jaynti is confident Polygon will still be necessary after ETH 2.0 launches

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NEAR: https://near.org  

Episode Links

Jaynti Kanani

Twitter: https://twitter.com/_jdkanani

Polygon

Website:  https://polygon.technology/ 

Overview:

• https://www.theblockresearch.com/polygon-a-technical-overview-105799
• https://www.theblockresearch.com/mapping-out-polygons-ecosystem-105540

Popularity:

Investments:

• https://www.coindesk.com/au21-capital-opens-polygon-fund
• https://www.coindesk.com/mark-cuban-invests-in-ethereum-layer-2-polygon

Miscellaneous:

• https://www.coindesk.com/okcoin-integrates-polygon-reduce-users-ethereum-gas-fees

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