Unchained

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Unchained episodes

  • Bits + Bips: How Trump’s Tariffs Are Bullish for Bitcoin Both Long- and Short-Term - Ep. 778

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    Trump’s new wave of tariffs has reignited the debate: Are they good for the economy or a disaster waiting to happen? Some say tariffs will crush trade, boost inflation, and slow growth—but others argue they could weaken the dollar and send bitcoin soaring.

    On this episode of Bits + Bips, Jeff Park of Bitwise, along with James Seyffart, Alex Kruger and Noelle Acheson, battle it out over the real impact of Trump’s tariffs, whether they could spark a new Plaza Accord 2.0, and why ETH took a harder hit than BTC in the latest selloff.

    Plus, is Trump’s economic strategy really about making America great again—or just about keeping his own real estate empire afloat? Jeff makes a bold claim outlining Trump’s #1 goal—one that his personal wealth depends on.

    Show highlights:
    • 2:38 - Why Jeff believes that people’s reaction to tariffs was bizarre
    • 7:09 - Why Jeff is convinced that tariffs are good for bitcoin
    • 10:18 - Why Alex is so against tariffs
    • 21:37 - How tariffs actually affect consumers
    • 27:36 - What’s Trump’s number one priority is, according to Jeff
    • 36:26 - Whether inflation will eventually come back to previous levels
    • 41:05 - Why ETH got hit the hardest on Sunday night
    • 49:56 - Whether the ETH/BTC ratio has bottomed
    • 51:03 - How Hyperliquid’s HYPE held up so strongly
    • 53:02 - The significance of Tether adding USDT to the Lightning Network
    • Hosts:
      • James Seyffart, Research Analyst at Bloomberg Intelligence
      • Noelle Acheson, Author of the “Crypto Is Macro Now” Newsletter 
      • Alex Kruger, Founder of Asgard

        Guest: 

        • Jeff Park, Head of Alpha Strategies at Bitwise
        • Previous appearance on Bits + Bips: The Real ‘Trump Trade’ & Why Trump's World Liberty Financial Was a Flop
        • Links
          • AP: Canada and Mexico agree with Trump to postpone tariffs by at least 30 days
          • Eric Trump on X: "In my opinion, it’s a great time to add $ETH."
          • Unchained: 
          • USDT Integrates With Bitcoin and Lightning Network
          • ETH Crashes After Trump Imposes Tariffs 


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            1 hr 2 min
          • Olaf Carlson-Wee and Rushi Manche on Why Move Is Safer for Crypto - Ep. 777

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

            The success of any blockchain isn’t just about scalability, security, or decentralization—it’s about attracting developers. The easier it is to build, the more innovation happens. Or at least, that’s the thesis of Movement Labs co-founder Rushi Manche and Olaf Carlson-Wee, CEO of Polychain Capital.

            In this episode of Unchained, Rushi explains why Move, originally developed by Meta, is a fundamentally better programming language for crypto than the Ethereum Virtual Machine (EVM). He breaks down how Move’s unique approach to security and asset management improves developer experience and why the Movement Network is bringing Move to Ethereum as a layer 2 solution.

            Olaf shares his thoughts on how alternative programming environments like Move could challenge the dominance of the EVM, why Ethereum is at a critical moment, and how AI-powered financial agents could change how investments work.

            Show highlights:
            • 2:32 What problems Move solves for crypto and how it got started
            • 8:57 How the programming language is safer than others, specifically for crypto finance
            • 21:00 What’s the thesis behind the Movement network
            • 23:12 Why Movement chose to become an Ethereum L2
            • 30:08 Where ETH is headed and what it needs to succeed
            • 32:25 Why Rushi is so bearish on EVM layer 2s
            • 34:59 Whether Ethereum is going through an existential crisis
            • 37:47 Why Rushi believes that modularity will save Ethereum
            • 39:28 How Movement differs from Aptos and Sui
            • 41:36 The importance of developer experience in crypto’s growth
            • 44:48 How tokens can signal the significance of content in social media
            • 52:04 Why Olaf thinks we’ll soon see an explosive growth of financialized agents
            • 57:19 Whether AI will replace VC investors and other jobs
            • 1:01:38 What Rushi has to say about the Trump team buying MOVE
            • 1:04:09 The significance of the U.S. making crypto a national priority

            • Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com

              Thank you to our sponsor!
              • Mantle
              Guest:
              • Rushi Manche, Co-founder of Movement Labs
              • Olaf Carlson-Wee, CEO of Polychain Capital
              • Previous appearances on Unchained:
              • OG Olaf Carlson-Wee on Why His Crypto Thesis Is Stronger Than Ever
              • Olaf Carlson-Wee: ‘If There Is a Money-Losing Exploit, the Money Is Gone’ 
              • Why The First Employee Of Coinbase Launched A Hedge Fund
              • To the Moon and Back With Polychain’s Olaf Carlson-Wee
              • Special Episode with CNBC’s Crypto Trader: Olaf Carlson-Wee on Why This Crypto Winter Is Different From Previous Ones
              • All Things Cryptoeconomics, Pt. 1, With Olaf Carlson-Wee and Ryan Zurrer of Polychain Capital
              • Links
                • Unchained: 
                • Trump’s Crypto Project Bought MOVE Tokens as DOGE News Leaked
                • How Solana Beat Out Ethereum to Nab New Crypto Developers in 2024
                • Chris Dixon on Why We Will Finally See New App Innovation in Crypto
                • 2025 Will Be a Year of Crypto Competition. Can Ethereum Make a Comeback?
                • With AI Agents Now Trading Crypto, What Does Their Future Look Like?
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                  1 hr 9 min
                • The Chopping Block: Ethereum’s Civil War, L2 Taxation, and Vitalik’s Milady Moment - Ep. 776

                  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, we dive into Ethereum’s growing identity crisis as frustration mounts over the Ethereum Foundation’s leadership, vision, and sluggish innovation. Is Ethereum losing its edge while Solana, Base, and Tron take over? We also break down the Second Foundation drama, discuss Justin Sun’s wild L2 taxation proposal, and debate whether Ethereum needs a CTO-style overhaul to stay competitive. Plus, Vitalik Buterin’s unexpected embrace of the Milady NFT movement and what Gary Gensler’s exit from the SEC means for the future of crypto regulation.

                  Show highlights

                  🔹 Ethereum Civil War? The Ethereum Foundation (EF) faces internal and external backlash as Vitalik defends its “WEF soy boy” ethos. Critics call for leadership changes, faster innovation, and a more aggressive growth strategy.

                  🔹 Second Foundation Fakeout: Rumors spread that Lido’s founder was launching a rival EF, briefly pumping ETH before being debunked. The buzz reignites calls for governance changes.

                  🔹 L2 Taxation Debate: Justin Sun proposes a 5B ETH tariff on rollups to fund buybacks, sparking debates on Ethereum’s fragmented ecosystem and lack of value accrual.

                  🔹 Vitalik Goes Milady: Ethereum’s co-founder embraces the Milady NFT subculture, changes his profile pic, and adopts the meme’s signature sign-off, fueling speculation about crypto’s shifting cultural landscape.

                  🔹 Ethereum’s Identity Crisis: With Solana, Base, and Tron dominating user adoption, is Ethereum too slow and academic to compete? Calls for an Ethereum “CTO” or more centralized execution grow louder.

                  🔹 Gensler’s Next Move: Gary Gensler exits the SEC and returns to MIT to teach AI & finance. Crypto celebrates his departure, while an AI-generated rap video mocks his legacy.

                  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 

                  DisclosuresLinks

                  Hayden Adam’s Tweet: 

                  https://x.com/haydenzadams/status/1884134669265891433

                  Justin Sun’s EF Plan Tweet:

                  https://x.com/justinsuntron/status/1881999625990836229 

                  Scaling Ethereum L1 and L2s in 2025 and Beyond by Vitalik Buterin:

                  https://vitalik.eth.limo/general/2025/01/23/l1l2future.html 

                  Zen and the Art of Shifting Mindsets in Technology: Aya Miyaguchi interview in Wired Magazine:

                  https://wired.jp/article/the-next-innovators-4-aya-miyaguchi-en/ 


                  Timestamps 

                  00:00 Intro

                  01:47 Ethereum Foundation's Civil War

                  05:53 The Bronze Age Mentality

                  07:32 Community Criticism and Governance

                  10:03 Vitalik's New Persona: Embracing Milady

                  14:33 Future of Ethereum and L2s

                  37:39 L1 vs L2: Do People Really Care?

                  42:12 Ethereum's Strategy and Colonialism Analogy

                  46:10 The Role of the Ethereum Foundation

                  58:34 Gary Gensler's Move to MIT and His Legacy

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                  1 hr 7 min
                • Crypto Kidnappings and Physical Attacks Are on the Rise—Here’s How to Stay Safe - Ep. 775

                  The kidnapping of Ledger co-founder David Balland in France sent shockwaves through the crypto community, raising urgent questions about security for high-profile crypto holders. How do you protect yourself when criminals are willing to go beyond digital attacks and resort to violence?

                  In this episode of Unchained, Jameson Lopp, co-founder and Chief Security Officer of Casa, speaks about the growing trend of “wrench attacks”—physical assaults aimed at forcing crypto holders to transfer their assets. Lopp explains how these attacks are evolving, what makes someone a target, and which geographies are seeing the most attacks.

                  Plus, he shares what behaviors put you most at risk, how criminals are getting more organized, and why relying on exchanges for security is not as safe as you think. 

                  If you hold significant crypto wealth, this is an episode you can’t afford to miss.

                  Show highlights:
                  • 2:02 How a Ledger co-founder was kidnapped and how the situation was resolved
                  • 6:46 Who tends to be targeted and which geographies see the most physical attacks
                  • 14:15 The riskiest behaviors that are likely to lead to wrench attacks
                  • 16:01 How attackers decide who to target 
                  • 20:37 How the attacks have been accelerating lately 
                  • 22:16 How the Ledger team ensured the kidnappers couldn’t access the ransom money 
                  • 23:44 Jameson’s top tips on how crypto holders can stay safe
                  • 29:30 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!
                    • Mantle
                    • Polkadot
                    • Quai Network
                    • Guest
                      •  Jameson Lopp, co-founder and Chief Security Officer of Casa
                      Links
                      • Previous coverage of Unchained on crypto security:
                      • Here’s How to Protect Your Crypto and Seed Phrases From Natural Disasters
                      • Reuters: Kidnapped co-founder of French crypto firm Ledger had his hand mutilated
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                        45 min
                      • Bits + Bips: Why Bitcoin Was Strong Amid the DeepSeek Selloff But a Drop May Be Coming - Ep. 774

                        From AI shaking up Big Tech to bitcoin’s role in the macro landscape, Jim Bianco delivers insights on the DeepSeek-triggered market selloff, memecoins, and the challenges facing traditional systems. In this episode, the macro strategist shares why DeepSeek’s AI model is reshaping competition, how crypto reserves might evolve, and what happens to MicroStrategy if bitcoin’s price takes a hit. Plus, hear his take on why stablecoins are a threat to banks, and why memecoins could be more than speculation.

                        Show highlights:What of crypto attracted Jim so much
                        • 0:49 What of crypto attracted Jim so much
                        • 6:15 Why the DeepSeek new model was so disruptive
                        • 12:47 Whether the biggest loser is OpenAI, not all the Mag 7
                        • 16:14 Whether we’ll see a major macro response from U.S. companies and government
                        • 26:06 What will happen next with the price of bitcoin
                        • 28:54 What would happen to MSTR if bitcoin goes 30% lower
                        • 34:11 How Trump was able to move so fast since the inauguration
                        • 39:30 Why the Fed should not do QE, according to Jim
                        • 49:02 How memecoins could be designed to be much more than speculative assets
                        • 53:03 Why James hopes the SEC doesn’t approve all the memecoin ETF applications
                        • 58:06 Whether banks will start onboarding crypto companies
                        • 1:05:52 Why stablecoins poise an existential threat to the current banking system
                        • 1:11:19 Whether it’s a bad idea for the U.S. to acquire other cryptos that are not bitcoin

                        • Hosts:
                          • James Seyffart, Research Analyst at Bloomberg Intelligence
                          • Ram Ahluwalia, CFA, CEO and Founder of Lumida
                          • Noelle Acheson, Author of the “Crypto Is Macro Now” Newsletter 
                            Guest:
                            Jim Bianco, President and Macro Strategist at Bianco ResearchLinks
                            • CNN Business: Trump announces a $500 billion AI infrastructure investment in the US
                            • Unchained: Tuttle Capital Files for 10 Leveraged Crypto ETFs
                            • CoinDesk: Nasdaq Files for In-Kind Redemptions for BlackRock Spot Bitcoin ETF
                            • Reuters: US, Colombia reach deal on deportations; tariff, sanctions put on hold

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                              1 hr 20 min
                            • Chris Dixon on Why We Will Finally See New App Innovation in Crypto - Ep. 773

                              Chris Dixon, founder and managing partner of a16z crypto, joins Unchained to share why he believes crypto innovation is about to explode. From Ethereum’s potential to new crypto legislation, Chris delves into why the industry is poised for a major break out.

                              He also discusses why the Biden administration’s “lawfare campaign” led to the memecoin craze, how AI and crypto together could transform technology, and why bad tech policy stifled the industry for years. 

                              Plus, he shares his take on the executive order signed by President Donald Trump and its significance for the industry.

                              Show highlights:
                              • 2:51 Why Chris feels like the Biden administration was trying to destroy crypto
                              • 7:16 Chris’s take on the Trump announcements and executive orders
                              • 14:18 What Chris would like to see in upcoming crypto legislation
                              • 21:37 How he compares the intertwining of AI and crypto with mobile, cloud and social
                              • 26:24 Whether an investing AI agent like ai16z could ever compete with A16z
                              • 32:05 How technologies usually evolve exponentially and how the AI x crypto craze will evolve
                              • 39:21 Why Chris doesn’t think the debate about whether Ethereum L2s are ‘parasitic’ is important
                              • 47:24 Chris’s opinion on whether Vitalik should be doing more marketing for ETH
                              • 51:29 Why Chris thinks native rollups on Ethereum could be valuable and promising
                              • 55:43 What he believes is important to pitch blockchain to Wall Street
                              • 59:39 Chris’s vision for a future multichain world
                              • 1:04:20 How the Biden administration’s “lawfare campaign” enabled the memecoin craze in 2024
                              • 1:08:08 Why Chris says that Coinbase has been very innovative
                              • 1:14:11 Whether ICOs are a recipe for fraud and scams
                              • 1:17:39 What apps and innovations Chris is excited about
                              • 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
                                • Somnia Network
                                • Guest: 
                                  Chris Dixon, Founder and Managing Partner of a16z crypto
                                  • Previous appearances on Unchained:
                                  • A16z Crypto’s Chris Dixon on How Blockchains Can Save the Internet
                                  • Chris Dixon on How Trust Is the Best Lego
                                  • Links
                                    • Unchained: 
                                    • President Trump Declares Crypto a National Priority in Executive Order
                                    • 2024 Was Solana's Best Year Yet. Can It Sustain the Momentum in 2025?
                                    • Chris’ tweet on the executive order 
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                                      1 hr 27 min
                                    • The Chopping Block: Crypto as a Public Good, Tornado Cash Ruling, and SEC’s New Direction - Ep. 772

                                      Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, and Tom Schmidt chop it up about the latest in crypto. This week, we're joined by special guest Peter Van Valkenburgh, Executive Director of Coin Center, to tackle one of the most pivotal moments in crypto policy. In this episode, we dive into the groundbreaking Fifth Circuit ruling on Tornado Cash, unpack its implications for blockchain privacy, and discuss the challenges noncustodial developers like Roman Storm are facing. We also break down Trump’s crypto executive order, the SEC’s new direction under Hester Peirce, and speculate on what a U.S. strategic Bitcoin reserve might mean for the future.

                                      Show highlights

                                      🔹 Crypto as a Public Good: Why open, permissionless technologies need protection—and how Coin Center defends them.

                                      🔹 Tornado Cash Ruling: The Fifth Circuit overturns OFAC sanctions—what this means for blockchain privacy and freedoms.

                                      🔹 Roman Storm Case: DOJ’s controversial crackdown on noncustodial developers and its implications for innovation.

                                      🔹 Trump’s Crypto EO: Breaking down the ban on CBDCs and the push for U.S. leadership in digital assets.

                                      🔹 SEC’s New Direction: Hester Peirce’s crypto task force and the future of enforcement and regulation.

                                      🔹 CFTC vs. SEC: Will Congress resolve the jurisdiction battle over crypto markets?

                                      🔹 Senate Banking’s Subcommittee: How Senator Lummis could lead a new era of crypto-friendly policy.

                                      🔹 Strategic Bitcoin Reserve: Speculating on what a U.S. Bitcoin reserve might look like.

                                      🔹 2025 Regulatory Outlook: How shifting policies could redefine crypto’s future.

                                      Hosts

                                      ⭐️Haseeb Qureshi, Managing Partner at Dragonfly

                                      ⭐️Tom Schmidt, General Partner at Dragonfly 


                                      Guest:

                                      ⭐️Peter Van Valkenburgh, Executive Director of Coin Center

                                      Disclosures


                                      Timestamps - 

                                      00:00 Intro 

                                      01:34 Coin Center & Crypto as a Public Good

                                      05:04 Crypto Policy Shifts & Trump's Executive Order

                                      16:11 Senate Banking Digital Assets Subcommittee

                                      20:20 SEC Crypto Task Force

                                      32:10 Hester Peirce's Safe Harbor Proposal

                                      35:43 Strategic Bitcoin Reserve: Expectations and Realities

                                      41:12 Tornado Cash & OFAC Sanctions

                                      45:28 Legal Implications for Noncustodial Developers

                                      57:51 Future of Crypto Regulation & Coin Center's Role

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                                      1 hr 1 min
                                    • Why Ethereum’s New Marketing Arm Is Convinced Wall Street Will Adopt ETH - Ep. 771

                                      Ethereum has had a tough year, losing ground to Solana in price performance, developer activity and as the home to the latest crypto trends. Yet, Vivek Raman, founder and CEO of Etherealize, is doubling down on Ethereum’s future.

                                      In this episode, Vivek explains how Etherealize, a “marketing arm for the ETH ecosystem,” was in the works long before the current criticisms of the Ethereum Foundation’s marketing, and how it got funding from Ethereum creator Vitalik Buterin and the foundation. He discusses why he believes layer 2 solutions make Ethereum a better fit for Wall Street than Solana.

                                      Plus, Vivek shares his thoughts on Ethereum’s value accrual, the state of its ecosystem, and how Etherealize plans to bridge the gap between Wall Street and Web3.

                                      Show highlights:

                                      • 2:50 Why Vivek thinks that it’s an opportune time to launch Etherealize
                                      • 7:32 How the project has been in the works for longer than people might think
                                      • 13:28 How Etherealize secured funding from Vitalik Buterin and the Ethereum Foundation
                                      • 15:11 Why Vivek says they got “lucky” with the timing of the announcement
                                      • 19:03 How Vivek plans to drive the narrative of ETH as an asset
                                      • 22:17 Why he believes corporations will launch their own L2s on Ethereum
                                      • 29:13 How he pitches Ethereum to TradFi
                                      • 31:42 Why Vivek believes Ethereum is better suited for Wall Street than Solana 
                                      • 34:08 What he has to say about L2s being centralized
                                      • 38:24 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!


                                        • Quai Network
                                        • Polkadot
                                        • Guest
                                          Vivek Raman, founder and CEO of Etherealize Links
                                          • Etheralize’s announcement
                                          • Unchained: 
                                          • Lido Founder Says No ‘Second Foundation’ Exists Yet
                                          • 2024 Was Solana's Best Year Yet. Can It Sustain the Momentum in 2025?
                                          • 2025 Will Be a Year of Crypto Competition. Can ETH Make a Comeback?
                                          • Ethereum Foundation to Fund New DeFi MultiSig Wallet With 50,000 ETH
                                          • The Block: Vitalik Buterin details 'large changes' to Ethereum Foundation leadership amid calls for new leadership 
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                                            53 min
                                          • The Chopping Block: Trump’s Crypto Shake-Up, Solana’s Big Moment, that Changes Everything - Ep. 770

                                            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, we dive into one of the wildest weeks in crypto history, unpacking the unprecedented launch of Trump’s memecoin and its explosive $70 billion valuation. We discuss how it broke every record imaginable, the fallout from Melania’s token, and the chaos it unleashed across the Solana network. From the ethics of a sitting president launching a coin to the implications for retail investors and the future of memecoins, we’re covering it all. Plus, we debate whether this marks a new chapter for crypto adoption or a troubling precedent for political grift. Stay tuned for this jam-packed emergency episode!

                                            Show highlights

                                            🔹 Trump’s Memecoin Craze: Breaking down the historic launch of $Trump, its unprecedented $70B valuation, and how it shattered every record in crypto history.

                                            🔹 Melania’s Memecoin Fallout: What went wrong with the $Melania token launch? Exploring its disastrous impact on the market and $Trump coin’s rapid crash.

                                            🔹 DeFi’s Ultimate Stress Test: How Solana infrastructure held up against unprecedented volumes, Moonshot’s rise to the top, and why this reshaped the memecoin landscape.

                                            🔹 Retail FOMO vs. Institutional Doubts: Examining retail’s overwhelming rush to $Trump coin and why some insiders remain skeptical of its long-term implications.

                                            🔹 Crypto Meets Politics: The ethics and implications of a sitting president launching a memecoin—and how it could distort the future of crypto regulation and perception.

                                            🔹 The Memecoin Economy Evolves: Could Trump and Melania coins signify the end—or a new era—of memecoins? A debate on the future of speculative tokens.

                                            🔹 Solana’s Big Moment: Why Trump coin positioned Solana as the go-to chain for memecoins, and how it outperformed competitors during this chaos.

                                            🔹 On-Chain Innovation or Grift? Is this a turning point for crypto adoption, or just the latest example of right-wing opportunism? The crew debates the broader implications.

                                            🔹 Adversarial Predictions: What happens when other world leaders witness Trump’s success? The panel speculates on who could be next in the memecoin race.

                                            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


                                            Timestamps - 

                                            00:00 Intro 

                                            02:23 The Crypto Ball

                                            07:11 Trump's Memecoin: $TRUMP

                                            13:21 Market Reactions & Infrastructure Challenges

                                            26:25 Melania Token: $MELANIA

                                            38:52 Solana's User Surge, Start of Ethereum Civil War?

                                            45:12 Speculation: Crypto's Killer Use Case

                                            49:59 Partisan Divide in Crypto

                                            54:22 Trump's Crypto Strategy

                                            01:07:32 Crypto's Social and Political Implications

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                                            1 hr 16 min
                                          • Bits + Bips: Debate: Is Trump’s Memecoin a Gift or a Grift? - Ep. 769

                                            This week, Trump’s memecoin launch had everyone talking—and scrambling for Phantom wallets. But was it a strategic masterstroke or just another speculative frenzy?

                                            On this episode of Bits + Bips, the hosts unpack the wild moments of the Crypto Ball, where $TRUMP made its surprise debut. They discuss how Bitcoin maxis were forced to embrace Solana wallets, why Multicoin Capital emerged as the biggest winner, and whether the memecoin launch signals a local market top.

                                            Plus, they debate whether Trump’s crypto-friendly stance could shape policy in 2025, why Litecoin might beat Solana to a spot ETF, and what Trump’s inauguration speech reveals about his crypto game plan.

                                            Show highlights:
                                            • 0:58 What Ram can tell us about his experience at the Crypto Ball 
                                            • 3:39 How Ram was so surprised when the $TRUMP coin dropped in the middle of the event
                                            • 7:51 What will happen with the 80% of $TRUMP that Trump holds
                                            • 8:51 Why Ram believes Multicoin Capital was the biggest winner of $TRUMP dropping
                                            • 10:14 Whether the coin was “gift or grift”
                                            • 17:07 How the $Melania coin was the Trumps shooting themselves in the foot
                                            • 19:37 How the launch of the coin is a “major win” for Solana
                                            • 22:49 Whether ETH can have a comeback as the “TradFi chain”
                                            • 35:28 How the market would react to the lack of a strategic bitcoin reserve mention
                                            • 43:28 What executive orders Trump could deliver for the crypto industry
                                            • 48:47 Alex’s experience with the pump and dump of a fake Barron Trump memecoin
                                            • 53:41 What was notable from Trump’s inauguration speech
                                            • 56:28 Whether rate cuts in December were a mistake and whether more are coming
                                            • 1:05:51 Why James believes that Litecoin has more chances than Solana for a spot ETF
                                            • 1:08:41 Whether the launch of $TRUMP will mark a local top for the markets

                                            • Hosts:
                                              • James Seyffart, Research Analyst at Bloomberg Intelligence
                                              • Alex Kruger, Founder of Asgard
                                              • Ram Ahluwalia, CFA, CEO and Founder of Lumida
                                              • Noelle Acheson, Author of the “Crypto Is Macro Now” Newsletter 
                                                Links
                                                • Saylor’s parody account’s tweet recounted by Alex 
                                                • Meme recounted by Noelle
                                                • Vitalik on changing the EF leadership
                                                • Josh Stark’s tweet on how the EF “uses Ethereum”
                                                • Paper on DeFi that Alex talked about: Christopher J Waller: Centralized and decentralized finance - substitutes or complements?
                                                • Polymarket: Will Trump create Bitcoin reserve in first 100 days?
                                                • Unchained: 
                                                • Trump Appoints Crypto-Friendly Mark Uyeda as Acting SEC Chair
                                                • Trump-Backed World Liberty Financial Goes on Token Buying Spree
                                                • Trump Picks Pham as Acting CFTC Chair
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                                                  1 hr 18 min

                                                About Unchained

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                                                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…