Unchained

By Laura Shin

Crypto assets and blockchain technology are about to transform every trust-based interaction of our lives, from financial services to identity to the Internet of Things. In this podcast, host Laura Sh... more

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How many episodes does Unchained have?

The podcast currently has 871 episodes available.

Unchained episodes:

August 16, 2024Could dlcBTC Resolve the Issues With Wrapped Bitcoin? - Ep. 690
In this episode, Aki Balogh, CEO of dlcBTC, explores how Discreet Log Contracts (DLC) can change how Bitcoin works in DeFi by creating a self-sovereign Wrapped Bitcoin. He delves into the mechanics of dlcBTC, its security features, and how it aims to be more decentralized than existing Wrapped Bitcoin solutions like WBTC. Aki also shares future plans for dlcBTC, including integration with Bitcoin Layer 2 solutions and expansion to various blockchain ecosystems.
Show highlights:
00:00 Intro
01:48 Aki’s background and how he got into crypto
04:14 What Discreet Log Contracts (DLC) are and why they are relevant for Bitcoin
07:56 How dlcBTC leverages these types of contracts to build a self-sovereign Wrapped Bitcoin and the differences with the current WBTC
15:41 Aki’s reaction to the news that WBTC will soon be handled by a joint venture between BitGo, Justin Sun and the Tron ecosystem
19:27 The role of attesters in making dlcBTC secure
23:26 How redemptions work in this kind of setup
27:31 Whether dlcBTC is more decentralized than WBTC
28:15 How many attesters the protocol should have to make it more safe and secure
30:05 How dlcBTC, the company, makes money with this product
31:11 Whether dlcBTC will be used in Bitcoin L2s, not just in the Ethereum ecosystem
34:47 What the future plans are for dlcBTC
Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com
Thank you to our sponsors!
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Guest
Aki Balogh, CEO of dlcBTC.

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51min
August 14, 2024The Chopping Block: WBTC Drama, Decentralized AI & SEC Subpoenas - Ep. 689
Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and chop it up about the latest news. This week, the gang is joined by Shuyao, cofounder of MegaETH Labs and founder of hotpot DAO.
They dive into the unfolding drama surrounding WBTC and BitGo's strategic shift towards multi-jurisdictional custody in Hong Kong. They also explore the growing buzz around decentralized AI, sparked by Haseeb’s newfound role as an “influencer” in the space, and debate whether these projects can truly succeed.
Moreover, with the SEC reportedly issuing subpoenas to crypto VCs, the discussion turns to the potential implications for token investments and regulatory scrutiny.
Lastly, is this cycle lacking a zero-to-one innovation?
Show highlights:
➡️ 02:22 What MegaETH is and how hotpot DAO was born
➡️ 07:09 Reflections on the Science Blockchain Conference and its academic rebranding across major universities
➡️ 16:55 How Haseeb became an “influencer for decentralized AI” and whether decentralized AI projects will succeed
➡️ 25:45 What BitGo's move to multi-jurisdictional custody with Justin Sun-linked company BitGlobal in Hong Kong means for the future of WBTC
➡️ 40:33 What the SEC's rumored subpoenas to crypto VCs might mean for the future of token investments and underwriter laws
➡️ 48:28 How the current crypto cycle's lack of a "0 to 1" innovation reflects the industry's momentum and sentiment
Hosts
Haseeb Qureshi, managing partner at Dragonfly
Tom Schmidt, general partner at Dragonfly
Tarun Chitra, managing partner at Robot Ventures
Guest:
Shuyao, cofounder of MegaETH Labs and founder of hotpot DAODisclosures

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1h 1min
August 14, 2024Bits + Bips: Market Chaos, Fed Missteps & Harris' ‘Crypto Reset’ - Ep. 688
In this episode of Bits + Bips, hosts James Seyffart, Alex Kruger, and Joe McCann sit down with Chris Cecere of crypto investment firm Asymmetric to make sense of the latest market volatility and the factors driving it.
From the impact of the yen carry trade and the Fed’s controversial decisions on interest rates, to the potential signals coming out of Jackson Hole, the discussion cuts to the heart of what’s moving the markets. The group also dives into the SEC’s crackdown on Ripple, the ongoing drama surrounding wrapped bitcoin (WBTC) custody, and whether the Biden-Harris administration is genuinely considering a “crypto reset” or if it’s just political posturing.
Show highlights:
00:00 Intro
02:05 Whether the yen carry trade is to blame for the recent market sell-off and the concept of Value at Risk (VAR)
09:25 How Asymmetric handled the volatility of the sell-off using a strategy called “delta replacement”
14:17 Why the Volatility Index (VIX) spiked and whether it could do so again
22:21 Why Alex thinks that unemployment numbers started a panic and what the Sahm rule is
27:24 What might have triggered Jump Trading's sudden liquidation during a massive market sell-off, and whether more funds will face similar pressures
31:15 Why the market and major banks like J.P. Morgan agreed that the Fed missed the mark by not cutting rates in July
41:36 What key signals the Fed might send at Jackson Hole about the future of interest rates and the winding down of quantitative easing
45:40 How significant the timing of the first rate cut is in determining whether it will be bullish or bearish for the markets
53:45 What Ripple's lawsuit settlement and the SEC’s subpoenas to VCs mean for the broader crypto industry
58:13 Whether Harris will actually do a “crypto reset”
1:03:04 The drama surrounding the custody of wrapped bitcoin (WBTC)
Hosts:
James Seyffart, Research Analyst at Bloomberg Intelligence
Alex Kruger, Founder of Asgard
Joe McCann, Founder, CEO, and CIO of Asymmetric
Guest:
Chris Cecere, GP and Head of global macro and trading at Asymmetric

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1h 7min
August 13, 2024Caitlin Long on Why the Fed’s Rejections of Custodia Bank Seem Politically Motivated - Ep. 687
Custodia, established as a special purpose depository institution in Wyoming, aimed to offer secure banking services for the crypto sector. Despite meeting state requirements and taking extra steps to demonstrate its commitment to safety, Custodia’s application for a Fed master account was met with delays and ultimately denied in an unprecedented 86-page report.
In this episode, Caitlin and Michelle explain why they believe the Fed’s rejection was politically motivated, how this relates to Operation Choke Point 2.0, the appallingly small number of American banks owned by women, where they are in their lawsuit against the Fed, and what this case means for the future of crypto banking in the U.S.
Show highlights:
00:00 Intro
01:52 What Custodia Bank is and how it got started in Wyoming
06:04 How Custodia got into a fight with the Fed to get its master account
09:58 How the dual banking system works in the U.S. and the differences between Custodia and traditional banks
18:15 Why Custodia filed a lawsuit against its own regulator
24:33 Why the Fed denied Custodia its applications and Caitlin’s response to the criticisms
29:57 The political coordination meant to “intimidate” Custodia, according to Caitlin
42:43 The amicus briefs that were filed in favor of Custodia
48:48 Caitlin’s reaction to the Fed’s enforcement action against Customers Bank
53:35 Why Caitlin says that it’s “abusive and corporatist” that the SEC is granting exceptions to big banks
56:03 Why so few banks are owned by women and whether this played a role in Custodia’s denial
59:25 The next steps in Custodia’s case and whether a stablecoin is viable for them
1:05:21 Whether the elections are going to impact the case
Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com
Thank you to our sponsors!
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Mantle
Guests:
Caitlin Long, Founder & CEO of Custodia Bank
Previous appearances on Unchained:
Why Caitlin Long and Meltem Demirors Are Worried About Crypto’s Future in the US
Caitlin Long: Why Avanti Will Be a New Kind of Crypto Bank
Michelle Kallen, Partner at Jenner & Block
Links

Timeline
PerkinsCoie: Federal Reserve Issues Final Guidelines for Master Account Access
CoinDesk: Crypto Bank Custodia Sues Federal Reserve
Davis Polk: Crypto bank sues Federal Reserve over delay in master account application
Fed’s 86-page report of its denial of Custodia’s membership
Custodia’s response to the Fed report
Custodia’s amended filing
Judge Scott Skavdahl’s order to dismiss
Davis Polk: District courts refuse to order Federal Reserve to grant master accounts to Custodia
Appeal
Custodia’s appeal notice
Custodia’s appeal filing
Amicus briefs for the appeal
Bitcoin Magazine: The Federal Reserve, Custodia Bank, And The Battle For Sovereignty
Paul Clement on behalf of the Digital Chamber and Global Blockchain Business Council (GBBC)
Don Verrilli for Blockchain Association
State of Wyoming
Americans for Prosperity Foundation
Members of the United States Senate Banking Committee and House Financial Services Committee
Former Sen. Patrick Toomey
Customers Bank:
CoinGeek: ‘Crypto’-friendly Customers Bank hit with Fed Reserve enforcement action
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1h 12min
August 09, 2024Crisis and Opportunity: Crypto Market Shifts, Solana vs. Ethereum, and Political Crossroads - The Chopping Block - Ep. 686
This episode addresses the recent market crash, the Bank of Japan's surprising rate hike, and its global impact. The team also discusses the Science of Blockchain Conference's relocation from Stanford to New York, and the current political landscape affecting crypto, including reactions from key politicians and internal community conflicts. Highlights include Solana's recent performance surge, opportunities in its ecosystem, and the effects of Elizabeth Warren's letter to the CFTC on prediction markets. Tune in for an insightful overview of these significant developments!
Show highlights
🔹 In-depth analysis of the recent U.S. crypto market crash caused by the Bank of Japan’s unexpected rate hike and its impact on global financial markets.
🔹 Discussion on the resilience of DeFi during market turmoil, with highlights on record on-chain volumes and DEX stability.
🔹 Examination of the rebranding of the Stanford Blockchain Conference and its implications.
🔹 Insights into the political landscape affecting crypto, including perspectives on Kamala Harris, Trump's pro-crypto stance, and Elizabeth Warren's opposition to political event betting contracts.
🔹 Analytical focus on the Solana ecosystem, its early investment opportunities, network reliability, UX advantages, and its influence on newer EVM chains.
🔹 Reflections on market trends and opportunities for smart investors to capitalize on new developments.

Hosts
⭐️Haseeb Qureshi, Managing Partner at Dragonfly
⭐️Tom Schmidt, General Partner at Dragonfly
⭐️Robert Leshner, CEO & Co-founder of Superstate
⭐️Tarun Chitra, Managing Partner at Robot Ventures

DisclosuresLinks
What Drives Crypto Asset Prices? Adams, Austin and Ibert, Markus and Liao, Gordon, (July 30, 2024). Available at SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4910537
Timestamps
00:00 Intro
01:29 SBC
03:57 Market Crash & BOJ
06:58 Crypto Market Reactions and On-Chain Activity
17:41 Fed's Interest Rate Decisions and Market Implications
23:27 Political Landscape and Crypto
38:50 Elizabeth Warren Doesn’t Like Prediction Markets
55:09 Solana vs. Ethereum

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1h 16min
August 09, 2024How Crypto Markets Are Reacting Post-Selloff, With Election/Fed Uncertainty Ahead - Ep. 685
After the unwinding of the Japan carry trade, the weak jobs report, and Jump’s dumping of ETH slammed crypto prices earlier this week, Jason Pagoulatos, head of markets at Delphi Digital, gives his insights on where prices are headed. He explains why he thinks Ethereum has underperformed so far in 2024, how the ETH ETFs might impact the price as outflows from Grayscale’s ETHE dwindle, and how the election, moves by the Fed, and the adoption of Bitcoin ETFs by Morgan Stanley advisors will affect BTC.
Show highlights:
00:00 Intro
01:34 Why the markets have rebounded since the weekend selloff
04:11 The role of Jump in the ETH selloff and why ETH has been underperforming so much this year
14:18 Whether Grayscale’s ETHE slowing down the outflows will reverse the trend for ETH
17:53 Why Jason believes that investment advisors will continue to push bitcoin to their clients
20:18 How the macroeconomic environment is affecting crypto prices now and the impact in the near future
Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com
Thank you to our sponsors!
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Guest
Jason Pagoulatos, head of markets at Delphi Digital

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36min
August 06, 2024Crypto Prices Are Way Down. Is It Time to Buy the Dip? - Ep. 684
The recent crypto crash has left many investors questioning the way the market is going. In this episode, Jeff Dorman, chief investment officer at Arca, provides a deep dive into the factors behind the crash, the macroeconomic influences at play, and why he remains optimistic despite the downturn. Expressing surprise at Ethereum's underperformance this year, he describes how the Democrats’ handling of crypto is an own goal, and how TradFi and DeFi differ from each other during market upheavals.
Show highlights:
00:00 Intro
01:38 The two main reasons the markets crashed this past weekend
05:29 How the macro environment has affected crypto lately and why the market has gotten “way ahead of itself”
12:44 Why ETH was down so much, more than other cryptocurrencies
16:52 The “most important” shift in crypto policy that has occurred this year
21:19 The Japanese yen carry trade that was one of the key factors in the market meltdown
30:20 Whether Genesis distributing $4 billion in assets had an impact on the market
33:39 Why Jeff believes that the data we have today does not point to a recession in the U.S.
36:49 Why Jeff says he’s "buying the dip”
40:47 Crypto as a political issue and why he thinks Harris winning would not be as bad for crypto as many believe
48:19 Why bitcoin doesn’t always act as a hedge against equity-related or geopolitical risk, in Jeff’s opinion
52:56 What Jeff thinks about the proposals for the U.S. government to buy bitcoin for a strategic reserve
54:15 The stark contrast between TradFi giants halting trading and the permissionless nature of DeFi
Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com
Thank you to our sponsors!
Polkadot
Token 2049
Guest:
Jeff Dorman, Chief Investment Officer at Arca.
Previous appearances on Unchained:
How Elon Musk Pushed DOGE Up and BTC Down, With Arca's Jeff Dorman
3 Things SushiSwap Needs to Get in Order, According to Arca
Links
Market crash:
Unchained:
Ethereum Drops Below $2,300 Amid Jump Crypto Rumors
Bitcoin ETF Trading Volume Surges to $4.7 Billion Amidst Market Selloff
Bitcoin and Ethereum Funds Record $546 Million in Weekly Outflows: CoinShares
The Block: Cryptocurrency market capitalization registers largest daily drop since 2022
Japan
BBC: The Bank of Japan raises interest rates for second time this year
The Defiant: Here’s an ELI5 on on How Japan Sent Global Markets Tumbling
SEC:
Eleanor Terret’s tweet on the SEC’s funding
Unchained: Can Gary Gensler Be ‘Fired’ If Trump Becomes President Again?
Others:
The Block: Genesis completes bankruptcy restructuring, begins distributing $4 billion in crypto and cash
Poylmarket: US Presidential Elections odds

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59min
August 02, 2024Is It a Good Idea for the US Government to Stockpile Bitcoin? - Ep. 683
In this episode, George Selgin, senior fellow at the Cato Institute, discusses the recent proposals by Donald Trump, Robert F. Kennedy Jr., and Senator Cynthia Lummis for the U.S. government to establish a strategic bitcoin reserve. George provides his insights into the differences between these proposals, their potential implications, and why he believes the government should not be investing in bitcoin or other assets.
Show highlights:
00:00 Intro
01:16 How the Bitcoin proposals by Trump, RFK Jr., and Lummis differ
04:08 Why George believes that Trump’s proposal to not sell the government’s bitcoin is just symbolic
07:36 What the purpose of acquiring BTC is in the Lummis and RFK proposals
11:29 Whether the government should even be investing in bitcoin or other assets
18:53 How would the government buy BTC as per the Lummis bill
25:08 How likely is it that the bill passes through Congress
27:40 Crypto News Recap
Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com
Thank you to our sponsors!
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Guest
George Selgin, Senior Fellow and Director Emeritus of the Cato Institute's Center for Monetary and Financial AlternativesLinks
Trump’s proposal:
Unchained:
At Bitcoin Conference, Trump Promises to Fire SEC Chair Gary Gensler If He Wins
Trump Has Made Promises to Crypto Voters. If He’s Elected, What Could He Actually Do?
Lummis proposal:
Unchained: A Bitcoin Strategic Reserve for the U.S.? Senator Cynthia Lummis Reveals Her Bill
Decrypt: There’s a Problem With Senator Lummis’ Bitcoin Reserve Plan, Cato Institute Expert Says
Lummis Introduces Strategic Bitcoin Reserve Legislation
RFK. Jr proposal:
RFK Jr. Proposes 550 Daily Bitcoin Purchase Plan for U.S. Economy | Kennedy24

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40min
August 01, 2024 Compound Finance Governance, Strategic Bitcoin Reserves, & BitClout's Legal Woes- The Chopping Block - Ep. 682
Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Robert Leshner, and Tarun Chitra explore the latest trends in the crypto world. In this episode, we dive into topics like the potential U.S. strategic Bitcoin reserve proposed by Trump and political figures, and its implications for the institutional adoption of Bitcoin. The episode explores the recent turmoil in DAO governance through the example of Compound's voting mishap with a controversial proposal, analyzing the role of activist investors. The squad also reflects on the legal challenges faced by the founder of BitClout, Nader Al-Naji, who was charged with misappropriation of funds, offering insights into the importance of transparent and ethical governance in the crypto industry.
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
🔹 Analysis of the potential implications of U.S. strategic Bitcoin reserves as discussed by presidential candidates, focusing on how this could affect global crypto policies and market reactions.
🔹 Exploration of the influence of regulatory environments on DAO participation, particularly how U.S. funds are hesitant to vote due to potential legal liabilities.
🔹 Examination of the controversial proposal by the 'Golden Boys' on Compound Finance and the role of activist investors in DAO governance.
🔹 Discussion on the complexity and innovation in crypto governance models, with examples of Compound and the challenges faced by DAOs in managing proposals.
🔹 Debate on the role of governance structures and how they can evolve to prevent malicious actions by large stakeholders.
🔹 Review of the SEC and DOJ charges against BitClout founder Nader Al-Naji for misappropriation of funds and misleading investors.
🔹 Overall reflection on the responsibility of crypto project leaders in maintaining transparency and ethical financial practices.
Hosts
⭐️Haseeb Qureshi, Managing Partner at Dragonfly
⭐️Tom Schmidt, General Partner at Dragonfly
⭐️Robert Leshner, CEO & Co-founder of Superstate
⭐️Tarun Chitra, Managing Partner at Robot Ventures
DisclosuresLinks
DOJ - Founder Of “BitClout” Digital Asset Charged With Fraud In Connection With Sale Of “BitClout” Tokens: https://www.justice.gov/usao-sdny/pr/founder-bitclout-digital-asset-charged-fraud-connection-sale-bitclout-tokens

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1h 2min
July 31, 2024Bits + Bips With Nic Carter: Trump’s Promises, Kamala’s Shift & ETH’s ‘Narrative Problem’ - Ep. 681
In this episode of Bits + Bips, hosts James Seyffart, Alex Kruger, and Joe McCann dive deep with Nic Carter into the game-changing promises Trump is making to the crypto community, Kamala Harris’s unexpected policy shifts, and the explosive rise of Solana.
Plus, Nic reveals his unexpected journey into amateur fighting and tackles the pressing issues around Ethereum ETFs, and what ecosystem he’s been funding more as of late.
Show highlights:
00:00 Intro
01:23 Why Alex believes the conference was one of the most incredible moments in the history of crypto
10:00 Nic’s reaction to Trump mentioning breaking down ‘Operation Chokepoint 2.0,’ a term that Nic himself coined
13:44 Nic’s karate fight and his journey to becoming an amateur fighter
21:42 Why Nic thinks that there’s no chance that the Lummis bill proposing the US government establish a strategic bitcoin reserve will pass
29:31 The significance of Trump’s promises at Bitcoin Nashville
36:26 How Tether is comparable to the Eurodollar system
39:41 What the potential impacts are of the Fed's language during their upcoming meeting
47:17 The implications of the Harris campaign's outreach to reset relations with crypto companies
55:44 How the ETH ETFs launch went and why Nic says that Ethereum has a “narrative problem”
59:34 How Solana has been ripping lately and Joe’s response to some of the criticisms
1:07:22 How Nic, as a VC, sees the ETH vs. SOL debate and how founders are increasingly choosing Solana
Hosts:
James Seyffart, Research Analyst at Bloomberg Intelligence
Alex Kruger, Founder of Asgard
Joe McCann, Founder, CEO, and CIO of Asymmetric
Guest
Nic Carter, general partner at Castle Island VenturesLinks
Bitcoin Conference:
Trump’s speech:
Unchained:
At Bitcoin Conference, Trump Promises to Fire SEC Chair Gary Gensler If He Wins
Trump Has Made Promises to Crypto Voters. If He’s Elected, What Could He Actually Do?
Lummis proposal:
Unchained: A Bitcoin Strategic Reserve for the U.S.? Senator Cynthia Lummis Reveals Her Bill
The Block: Hong Kong lawmaker advocates for including bitcoin in financial reserves following Trump’s speech |
Democrats/Harris seeking “reset”
Letter from Democratic politicians to DNC chair to put crypto plank in Democratic party platform:
ETH ETFs Debut:
Unchained:
Grayscale Ethereum Trust ETF net outflows hit $1.5B
Will ETH Follow Bitcoin’s Path and Reach New Highs Now That Spot ETFs Are Here?
BlackRock: Our Spot Ether ETFs Are Complements to Bitcoin ETFs, Not Substitutes
The Block: At this rate, Grayscale's ETHE could run out of ether within weeks |
Solana’s ripping:
Unchained:
Solana’s Growth Metrics, Including Stablecoin Supply, Continue to Take Off -
Solana Exceeds Ethereum in Monthly Trading Volume for First Time, But Not When Ethereum’s L2s Are Included

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1h 12min

FAQs about Unchained:

How many episodes does Unchained have?

The podcast currently has 871 episodes available.