Unchained

By Laura ShinNews Business News Tech News

Unchained episodes

April 04, 2024 The Chopping Block: The Dawn of the DeFi Civil War - Ethena, SBF, Blast & More - Ep. 628
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, amidst the crypto bull market's fervor, the boys dissect the launch of Ethena and its repercussions, including a potential DeFi civil war spurred by integration disputes between MakerDAO and AAVE. The conversation then shifts to the broader implications of SBF's sentencing, exploring how this landmark legal decision could reshape the landscape of trust and regulation within the crypto community. Moreover, we tackle the ethical and operational dilemmas faced by Blast in response to a significant hack, debating the merits and risks of potential rollbacks and the preservation of user funds against the backdrop of decentralized ideals. As we navigate through these complex issues, we shed light on the dynamics between decentralization, regulation, and innovation, offering nuanced perspectives on the challenges and opportunities that lie ahead for crypto. Tune in for an insightful journey through the strategic battlegrounds and evolutions that are defining the future 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
🔹 Analysis of Ethena's token launch impact on the crypto bull market and the crypto ecosystem
🔹Insight into the ongoing DeFi civil war triggered by MakerDAO's integration of Ethena, extending into Aave's strategic response and the broader DeFi ecosystem.
🔹Examination of SBF's sentencing, exploring its repercussions for crypto regulation, investor trust, and the legal landscape of the crypto industry.
🔹Evaluation of Blast's response to a significant security breach, debating the implications of potential rollbacks for DeFi security and user trust.
🔹Exploration of the balance between DeFi innovation, regulatory challenges, and the need for a stable legal framework to support crypto growth.
🔹Analysis of the crypto community's response to the DeFi civil war, SBF's sentencing, and security issues in decentralized finance platforms.

Hosts
⭐️Haseeb Qureshi, Managing Partner at Dragonfly
⭐️Tom Schmidt, General Partner at Dragonfly
⭐️Tarun Chitra, Managing Partner at Robot Ventures
⭐️Robert Leshner, Founder of Compound
DisclosuresLinks
MakerDAO Proposal: “Morpho Spark DAI Vault Update” - https://forum.makerdao.com/t/morpho-spark-dai-vault-update-1-april-2024/24006

AAVE’s Proposal: “Risk Parameters for DAI Update”
https://governance.aave.com/t/arfc-risk-parameters-for-dai-update/17211

Barbara Fried’s SBF sentencing submission
https://storage.courtlistener.com/recap/gov.uscourts.nysd.590939/gov.uscourts.nysd.590939.419.0_1.pdf

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1 hr 7 min
April 02, 2024The Real Reason Why the SEC Might Be Going After Ethereum - Ep. 627
On March 20, Fortune reported that the SEC was investigating the Ethereum Foundation and was looking for legal ways to label ETH as a security.
Sam Enzer, partner at Cahill Gordon & Reindel, and Greg Strong, partner at DLx Law joined Laura to discuss everything about the investigation and its implications.
The guests speculate about the hidden motivations behind the SEC's investigation and discuss the likelihood of the approval of spot Ether ETFs. They also discuss the recent ruling in the SEC vs Coinbase case, where the judge dismissed claims that Coinbase's wallet was acting as an unregistered brokerage, but allowed the rest of the suit to proceed.
Lastly, they touch on the devastating impact on the crypto industry if the SEC were to win a case alleging ETH is a security and what they are looking out for in the next couple of weeks and months.
Show highlights:
Whether the investigation into the Ethereum Foundation is confirmed and why the SEC would do this
Why Sam Enzer believes that the SEC would be "utterly wrong and ridiculous" in alleging ETH is a security
Whether the number of people working on Ethereum could make the argument that it is decentralized
How would the SEC justify that ETH is a security and whether the Foundation is running Ethereum’s managerial efforts
Whether the SEC is looking for evidence to deny spot ether ETFs
Why SEC chair Gary Gensler has changed his mind on many of his previous stances regarding crypto assets and whether he's acting in good faith
The ongoing battle between the SEC and the CFTC and the need for Congress to regulate the industry
What the possible outcome of this investigation could be, and whether we'll have a court case soon
What the impact would be if ETH were classified a security
Whether Prometheum could launch its platform offering custody of ETH as a security before an SEC designation
Why Sam believes that the spot ETH ETFs will be denied on May 23rd
How the SEC has already made up its mind even before gathering the facts, according to Sam
Whether the recent judgment on Coinbase's case affects the potential case against the EF
Whether Ethereum transactions are security transactions, and the difference between primary and secondary sales
What to expect in terms of regulation and enforcement actions in the short term, given the number of cases at the moment
Thank you to our sponsors!
Polkadot
Guests:
Sam Enzer, Partner at Cahill Gordon & Reindel
Previous appearances on Unchained:
How 'a Criminal Choice' Got Sam Bankman-Fried a 25-Year Prison Sentence
Why the SEC’s Case Against Coinbase Is So Significant for Crypto
Why SBF’s Testimony So Far Has Likely Already Doomed Him
Another Bad Week for Sam Bankman-Fried in His Criminal Trial
Why These Lawyers Say It’s Over for SBF-But His Only Hail Mary Is to Testify
SBF Trial: How Sam Bankman-Fried’s Lawyers Might Try and Win His Case
SBF’s Lawyers Could Be Annoying the Judge How Might That Impact the Trial?
Greg Strong, partner at DLx Law
Previous appearance on Unchained: Why These Lawyers Say It's Over for SBF-But His Only Hail Mary Is to Testify
Links
Ethereum Foundation investigation:
Fortune: SEC probing crypto companies in Ethereum investigation as hopes for ETF dim
CoinDesk: Ethereum Foundation Faces Inquiry From a Government; Fortune Says SEC Investigating ETH
Unchained: Ex-CFTC Commissioner Says ETH Can Be Both a Commodity and a Security
Unchained: SEC Investigating Ethereum Foundation Regarding Proof-of-Stake Transition: Report
Ethereum’s security status
Unchained: Ex-CFTC Commissioner Says ETH Can Be Both a Commodity and a Security
Fortune: SEC’s Gensler seen telling hedge funds that Ethereum and Litecoin are ‘not securities’ in 2018 video
CNBC:
SEC Chair Gary Gensler on potential Crypto regulation: It's within the securities laws
SEC Chair Gary Gensler discusses potential crypto regulation and stablecoins

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1 hr 24 min
March 29, 2024How 'a Criminal Choice' Got Sam Bankman-Fried a 25-Year Prison Sentence - Ep. 626
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.
Sam Bankman-Fried (SBF), FTX's co-founder, was sentenced to 25 years in prison and $11 billion in forfeiture for massive fraud, marking a historic moment in the crypto industry. Judge Lewis Kaplan emphasized the sentence's necessity due to Bankman-Fried's risk-oriented decision-making philosophy known as “expected value” and lack of remorse.
Sam Enzer joined Unchained to unpack the sentencing, discussing the fairness of the length, explaining how the $11 billion forfeiture would work and how it’s different from the bankruptcy proceedings. Additionally, Enzer provided insights into the kind of prison SBF would end up in and into the three-year supervised release SBF will face after his prison term. The conversation further delved into the broader impact of the sentencing on the crypto industry, suggesting it could signify the end of a dark chapter.
Show highlights:
Whether the 25-year sentence is fair, according to Sam
What the $11 billion in forfeiture means for SBF
Whether the assets of SBF actually belong to the FTX estate
Where SBF will likely go to prison and why Sam believes that SBF will not go to a maximum security prison
When the clock starts ticking for the 25-year sentence
Why SBF will not be eligible for parole and whether he could get "good time credit"
What the defense will attempt in appealing the conviction
What types of behavior could get SBF enough credit to appeal for a reduced sentence
Why SBF will have to be supervised for three years after his release
How SBF’s philosophy about “expected value,” was the theme of the crime, according to Judge Kaplan
Whether the co-conspirators, such as Caroline Ellison, will be sentenced and serve in prison
Why Sam says that the sentencing represented "the closing of a dark chapter" in crypto
Thank you to our sponsors!
iTrustCapital
Polkadot
Guest
Sam Enzer, Partner at Cahill Gordon & Reindel
Previous appearances on Unchained:
Why the SEC’s Case Against Coinbase Is So Significant for Crypto
Why SBF’s Testimony So Far Has Likely Already Doomed Him
Another Bad Week for Sam Bankman-Fried in His Criminal Trial
Why These Lawyers Say It’s Over for SBF-But His Only Hail Mary Is to Testify
SBF Trial: How Sam Bankman-Fried’s Lawyers Might Try and Win His Case
SBF’s Lawyers Could Be Annoying the Judge How Might That Impact the Trial?
Links
Unchained:
FTX Founder Sam Bankman-Fried Sentenced to 25 Years for Historic Fraud
SBF’s Prison Sentencing Is Coming Up. How Many Years Will He Get?
Is Prison Crypto’s New Glow-Up? Post-Incarceration Do Kwon and SBF Are Admired
What to Expect from Sam Bankman-Fried’s Sentencing – and the Lessons We Should Learn

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50 min
March 28, 2024 The Chopping Block: Institutional Memecoin Craze, BASE vs. Ethereum, and Legal Clamps on Rogue Exchanges! - Ep. 625
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.
Hosts
⭐️Haseeb Qureshi, Managing Partner at Dragonfly
⭐️Tom Schmidt, General Partner at Dragonfly
⭐️Tarun Chitra, Managing Partner at Robot Ventures
⭐️Robert Leshner, Founder of Compound

DisclosuresLinks
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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57 min
March 26, 2024How Gitcoin 2.0 Could Someday Help Reward People for Doing Good - Ep. 624
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.
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.
Show highlights:
Kevin's background and how he came to found Gitcoin and why Meg joined the company
The differences between Gitcoin 1.0 and 2.0
What quadratic funding is and why it is important in the blockchain ecosystem
The problem of sybil attacks and how Gitcoin Passport aims to solve it
Why Gitcoin has changed its approach to put more focus on scaling Ethereum rather than other types of grants
How Gitcoin is trying to solve capital allocation efficiency with Allo (Capital Allocation) Protocol
What streaming quadratic funding is and how it differs from traditional quadratic funding
How retroactive public goods funding (RPGF) works
What conviction voting is and how it addresses some of the current problems in DAOs
Which projects are using Gitcoin Passport and what for
Why Gitcoin is so focused on the Ethereum ecosystem and whether they will launch in other chains
What the purposes of the GTC token are and how it could become a flywheel for Gitcoin
How Gitcoin can become sustainable long-term, since it's free to use at the moment
The features that are coming down the line for Gitcoin, including privacy and onchain "angel investing"
What the future could look like if Gitcoin succeeds in its mission, according to Kevin
Thank you to our sponsors!
Polkadot
Guests:
Kevin Owocki, Co-founder of Gitcoin
Meg Lister, GM of Grants Labs at Gitcoin
Links
Gitcoin
Gitcoin 2.0 Whitepaper, co-authored by Kevin Owocki and Meg Lister
Public Goods Funding: The New Meta | Kevin Owocki - Gitcoin, presentation at ETH Denver 2024
Gitcoin Entering the End Game
Gitcoin’s Citizen Grants program
Impact report
CoinDesk: Why Crypto’s Most Altruistic Project Is Going (Kinda) Corporate
Blockworks: Gitcoin is restructuring to focus on grants for the Ethereum ecosystem
Allo Protocol
Announcement thread
Web3 Ecosystem Funding
State of Web3 Grants Report
Web3 Innovations in Public Goods Funding
How To Fund Innovation: A Guide to Web3 Grants, Meg Lister for BeIn Crypto
Quadratic funding
ORIGINAL WHITE PAPER, co-authored by Vitalik Buterin
Retro PGF
Unchained: What Is Retroactive Public Goods Funding?
Passport
Introducing Passport - Digital Identity as a Public Good

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1 hr 10 min
March 22, 2024How BlackRock’s New Fund on Ethereum Got a Very Crypto Welcome - Ep. 623
Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.
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:
What the BUIDL fund is, its essence and objectives
How the fund rewards its users, with a system similar to crypto airdrops
Whether they were worried about regulatory aspects of bringing this product onchain
Securitize's role in the partnership with BlackRock
How much money flowed into the fund on the first day and who the target investor is
Why BlackRock decided to build this product on Ethereum
What BlackRock's attitude towards crypto is, according to Carlos
How the launch of the fund was frontrun by crypto insiders
How a wallet associated with the fund received unintended funds from North Korean tied wallets and whether Ethereum should implement a mechanism for addresses to approve funds that are sent to it
Whether the contract is secure and what steps Securitize is taking to increase the safety of the users
The roadmap for the partnership between BlackRock and Securitize
Thank you to our sponsors!
iTrustCapital
Polkadot
Uniswap
Guest
Carlos Domingo, Founder and CEO of Securitize
Previous appearance on Unchained: Could Securitize Democratize Access to Different Asset Classes?
Links
Previous coverage on Unchained of real world assets:
The Catalysts for This Crypto Bull Market: AI, DeFi, Real World Assets?
The Chopping Block: Will Tokenizing RWAs Finally Click This Time?
MakerDAO Has Brought in Real World Assets. Is It Worth the Risk?
BlackRock USD Institutional Digital Liquidity (BUIDL) Fund
The Block: BlackRock to launch tokenized investment fund with Securitize
Unchained:
BlackRock's Institutional Fund Wallet Receives Unsolicited ETH From Tornado Cash Within Hours of Launch
BlackRock Receives Memecoins and NFTs After Putting $100 Million USDC Onchain

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40 min
March 21, 2024 The Chopping Block: Memecoin Presales, MakerDAO’s Endgame, and BlackRock's Blockchain Bet! - Ep. 622
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.
Hosts
⭐️Haseeb Qureshi, Managing Partner at Dragonfly
⭐️Tom Schmidt, General Partner at Dragonfly
⭐️Tarun Chitra, Managing Partner at Robot Ventures
⭐️Robert Leshner, Founder of Compound

DisclosuresLinks
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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45 min
March 19, 20243AC's Kyle Davies on Why He's Crypto's Lloyd Blankfein and Why He's Not Sorry - Ep. 621
Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.
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:
Whether Kyle is cooperating with 3AC liquidator Teneo and his opinions of that firm
His and 3AC co-founder Su Zhu’s prison sentences in Singapore
Why Kyle says he didn’t know about the scheduled court date
Why Dubai levied fines against him, according to Kyle
Where he is living now
Whether or not he made misrepresentations about 3AC’s assets to lenders before its implosion, traded when the firm was insolvent, and borrowed money from the mafia
Why Kyle went to Bali after the bankruptcy
His defense of his $25,000 a month fee for consulting for OPNX
Why Kyle thinks his reputation post-3AC was still “huge” because all companies eventually go bankrupt
Gamified derivatives platform OX.FUN, where he is an advisor
His dreams of opening a cloud kitchen chicken restaurant
Why he filed a lawsuit against Sixth Man Ventures’ Mike Dudas
What he could have done differently at the time of 3AC’s collapse
Why Kyle is not sorry 3AC went bankrupt
Thank you to our sponsors!
Polkadot
Guest
Kyle Davies, OX.FUN advisor and co-founder of Three Arrows Capital Links
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
New York Times: Their Crypto Company Collapsed. They Went to Bali
New York Magazine: ‘They Are Very Comfortable Lying’: How fallen crypto kingpins Su Zhu and Kyle Davies are dodging prison — and rebranding
OPNX
Wall Street Journal: Founders of Bankrupt Three Arrows Capital Plan Trading Platform for Distressed Crypto Debt
Cointelegraph: CoinFLEX creditors dissatisfied with restructuring to OPNX: Report
Unchained: 3AC Founders’ New Crypto Exchange OPNX to Shut Down
Cointelegraph: OPNX to shut down with mysterious new exchange as replacement
Decrypt: CoinFLEX Creditors React to OPNX Closure: 'They Have Left a Trail of Destruction'
OX.FUN
March 11 Twitter spaces on OX.FUN with Davies and Zhu

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1 hr 20 min
March 15, 2024How Ethereum’s Dencun Upgrade Could Lead to the Rise of Millions of Layer 3s - Ep. 620
Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.
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:
The problem that Dencun is trying to solve
The benefits of blobs and blobspace
How Dencun has already reduced Base’s fees, but also increased its transactions
How Jesse thinks Layer 1s and Layer 2s will start to become differentiated from each other
The rise of Layer 3s
How Jesse addresses criticisms of fragmentation and centralization arising from the increasing use of Layer 2s
Why Jesse is particularly excited about two features of the Dencun upgrade—transient storage and increased composability between L1s and L2s
What Jesse and the Base team are focusing on now
Why Jesse thinks that “onchain” is a better word to describe the industry than “crypto” or “blockchain” or “web3”
Thank you to our sponsors!
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Polkadot
Uniswap
Guest
Jesse Pollak, creator of Base at Coinbase
Previous appearances:
The Chopping Block: All About That Base With Jesse Pollak
Links
Recent coverage on Unchained of the Dencun Upgrade and Base:
Dencun Day One: Ethereum Layer 2 Networks See Drastic Drop in Transaction Fees
Ethereum Completes Milestone Dencun Upgrade, Which Should Substantially Reduce Fees
How Much Will the Dencun Upgrade Really Reduce Ethereum Layer 2 Fees By?
Why Base’s Creator Thinks Social Apps Will Be a ‘Huge Part’ of the Layer 2 Blockchain’s Success
CoinDesk:
Debating Dencun: Will Ethereum's Big Update Help or Harm the Network?

Jesse’s tweets on Dencun
October 2022
January 2024
March 13, 2024
Blobs / Proto-danksharding
EIP-4844 proposal
Blobs unleashed: Ethereum’s Dencun upgrade activates on mainnet
Base says it will support EIP-4844 from 'day 1' following Dencun upgrade
Ethereum stans are putting the Bee Movie on blobs for as little as $5
Superchain
Decentralizing Base with the OP Stack and Optimism
Base’s Commitment to Decentralization with the Superchain

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41 min
March 14, 2024 The Chopping Block: The Ups-and Downs of Crypto since 2020 and where we are now! - Ep. 619
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.

Hosts
⭐️Haseeb Qureshi, Managing partner at Dragonfly
⭐️Tom Schmidt, General Partner at Dragonfly
⭐️Tarun Chitra, Managing Partner at Robot Ventures
⭐️Robert Leshner, Founder of Compound

DisclosuresLinks
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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1 hr

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…

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