Unchained

By Laura ShinNews Business News Tech News

Unchained episodes

December 07, 2023The Chopping Block: Top White Hat Hacker Samczsun Discusses the State of Crypto Security - Ep. 579
Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest news. This week, they are joined by Samczsun, an anonymous security researcher at Paradigm, who delves into the intricacies of crypto security, ethical hacking and the shifting landscape of smart contract vulnerabilities. He also discusses his strong feelings about the “Code Is Law” philosophy and gives tips on how people in crypto can best protect their online security.
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:
what led Sam to a career in crypto security and his current role at Paradigm
how Sam uncovered one of crypto's most legendary vulnerabilities
why security experts like Sam choose the path of white hat hackers over black hats
The craziness of the KyberSwap hacker's proposal
parallels that Robert draws between this case and Avi Eisenberg's Mango Markets exploit
what advice Sam has for the KyberSwap hacker
whether Sam, as a security expert, trusts storing his money on-chain
how the Platypus hack ruling by a French judge challenges the 'Code Is Law' philosophy
what the Security Alliance aims to achieve and its impact on the industry
how Sam suggests individuals should practice personal crypto security, including the importance of using password managers and hardware wallets, and avoiding SMS two-factor authentication
Hosts
Haseeb Qureshi, managing partner at Dragonfly
Robert Leshner, founder of Compound and Superstate
Tom Schmidt, general partner at Dragonfly

DisclosuresGuest:
Samczsun, security researcher at ParadigmLinks
Hacks
Episode with Ogle: The Chopping Block: How This DeFi Hack Negotiator Gets Hackers to Return Stolen Money
Unchained: $48 Million Drained from KyberSwap in Hack
Kyberswap hacker's latest message
Cointelegraph:
KyberSwap hacker offers $4.6M bounty for return of $46M loot
Platypus exploiters walk free after claiming to be ‘ethical hackers’
Code is law:
The Chopping Block: ‘Code Is Law’ Is ‘Obviously Not How Anything Works Ever’
Unchained: The Mango Markets Attacker on Whether His 'Trade' Was Ethical or Not
Thread by Gabriel Shapiro on the topic and Vy Le’s response

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1 hr
December 05, 2023Anatoly Yakovenko on Solana’s Astounding Recovery and Its Future Plans - Ep. 578
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Solana’s native token SOL has been one of the best-performing cryptos of the year, up more than 500% so far, but you wouldn’t have guessed that would be the case given how closely tied the blockchain was to FTX, which held huge amounts of SOL and was a big supporter of the platform. The blockchain also experienced numerous outages in 2022. But Anatoly Yakovenko, Solana’s co-founder, says the discipline imposed by FTX’s collapse, as well as improvements to the technology, have made Solana stronger.

On this episode of Unchained, Yakovenko talks about the impact of FTX’s collapse, his early impressions of Sam Bankman-Fried, the SEC’s designation of SOL as a security, how entrepreneurs are leaving the U.S. because of the regulatory risk, SOL’s share of the stablecoin market, and why he thinks it’s inevitable that finance will eventually run on something like Solana.

Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.
Show highlights:
How the Solana ecosystem weathered the FTX crisis
How FTX’s collapse was like ripping off a band-aid for Solana
Anatoly's initial impression of SBF as a “super genius”
Why, despite SOL's strong 2023 performance, the Solana ecosystem hasn't experienced a corresponding growth in active developers
What factors Anatoly believes contribute to the relatively low number of daily active wallet addresses in Solana
How Solana addressed and rectified the outage issues that were so frequent in previous years
Why Anatoly draws a parallel between Ethereum and Windows 95, and Solana and Windows 2000
Why he's not worried about Jump Crypto building a client for the blockchain
The ongoing debate within Solana on open-source versus closed-source culture, and the potential for future shifts
How the Solana Foundation is handling the SEC's classification of SOL as a security
Whether there's a trend of developers and founders relocating from the United States in search of a more supportive ecosystem
Why Solana holds a low market share of stablecoins across various blockchains, and the implications of this trend
Why Anatoly considers trading volume a more critical metric than Total Value Locked (TVL) in assessing blockchain success
How Web3 gaming has been flourishing on Solana
Why Anatoly is confident that DeFi will find its rightful place on the Solana network
The future plans for the Saga phone after its market challenges
What Anatoly thinks is the number one focus for Solana for the near term
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Guest:
Anatoly Yakovenko, Co-founder of Solana Labs
Previous appearance on Unchained: Will Solana Be the Execution Layer and Ethereum the Settlement Layer?
Previous appearance on Unchained: Can Solana Seize Marketshare From Ethereum With Serum?
Previous appearance on The Chopping Block: Anatoly Yakovenko on Why Solana Is Building the SAGA
Links
Unchained: Solana Saga review
Decrypt: Mad Lads NFTs Hit All-Time High as Backpack Taps FTX Lawyer for Exchange Launch
Op-ed by Anatoly on Fortune: Solana co-founder: 'To keep the next great American founder in America, Congress must regulate crypto. But first lawmakers should learn how it works'

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1 hr 1 min
December 01, 2023The Chopping Block: How This DeFi Hack Negotiator Gets Hackers to Return Stolen Money Ep. 577
Welcome to The Chopping Block — where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest news. This week, the gang sits down with Ogle Crypto, a veteran negotiator in crypto hacks, to discuss the recent KyberSwap exploit, which involved an almost $50 million loss across various chains.

Ogle shares how he initially became a negotiator, including his first case in which he tracked down a group of hackers from Hong Kong when they fled to Great Britain after stealing $24 million in funds. Ogle also shares his negotiation tactics, the typical profile of hackers he encounters today and his empathetic approach towards these often young and financially struggling individuals.

Then the group raises concerns around the hype and marketing strategies of Blast, a new Layer 2 on Ethereum offering “native yields” that achieved $620 million of TVL in less than two weeks.

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:
How KyberSwap's sophisticated security was breached, resulting in an almost $50 million loss across various blockchain networks.
Why Tarun suspects the behind-the-scenes workings of an organized group, rather than a lone attacker, in the KyberSwap incident.
The evolution of crypto hacks towards more systematic and professional negotiations with hackers.
Ogle's journey into the world of crypto hack negotiations, highlighted by a fascinating case of pinpointing hackers who had fled Hong Kong.
Ogle's strategic approach to negotiating with hackers, balancing empathy and tactical communication.
Profiling the typical hackers in these scenarios, focusing on their youth, origins, and backgrounds.
Ogle's perspective on why he often finds a sense of understanding towards these young, misguided hackers.
Assessing the crypto industry's response to white hat hackers: Are they adequately rewarded for safeguarding the digital frontier?
The curious surge of investments into Blast, Ethereum's new Layer 2 contender, amidst swirling concerns and skepticism.
Robert's take on why the Blast phenomenon could signal a troubling trend, surpassing the chaos of 2017, paralleled by Tarun's analogy to a “decentralized Herbalife.”
Were Blast’s marketing tactics misleading or merely overly optimistic?
Hosts
Haseeb Qureshi, managing partner at Dragonfly
Robert Leshner, founder of Compound
Tom Schmidt, general partner at Dragonfly
Tarun Chitra, managing partner at Robot Ventures
DisclosuresGuest
Ogle Crypto, Crypto sleuth and negotiator
Links
Hacks
Unchained: $48 Million Drained from KyberSwap in Hack
Kyberswap’s hacker latest message
HackerNoon: Mark Cuban's Bane: How Iron Finance's $TITAN Crypto Crashed From $60 to $0
Cointelegraph: KyberSwap hacker offers $4.6M bounty for return of $46M loot
Blast
Unchained: Blast Surges to $300M TVL, Rapidly Gaining on Top Ethereum L2s Amid Concerns
DefiLlama: Blast TVL

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1 hr
December 01, 2023Why Presidential Candidate Vivek Ramaswamy Is So Pro-Crypto - Ep. 576
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Vivek Ramaswamy is likely the biggest supporter of crypto among the current crop of presidential candidates. But his enthusiasm comes not from an inherent love of the technology or its principles themselves, but a dissatisfaction with what he calls the “administrative state” that’s stifled innovation in a number of important industries, crypto among them.
On this episode of Unchained, Ramaswamy discusses his radical plan to slash the number of people working at federal agencies; his three-point crypto policy plan based on the freedom to code as a protected form of expression, the freedom of financial self-reliance, and the freedom to innovate free from regulatory overreach; why the current orientation of the U.S. government towards regulation of the crypto industry by enforcement isn’t helping anyone; his plans to stabilize the U.S. dollar by pegging it to a basket of commodities that could eventually include Bitcoin; why he’s so opposed to central bank digital currencies; and what industries he thinks could benefit from the use of blockchain technology.

Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.
Show highlights:
how Vivek, who has a background in biotech, fell down the “crypto rabbit hole”
how the administrative branch of government doesn't work like it's supposed to, according to Vivek
why he believes the government poses a threat to the future of crypto
how he would respond to a situation in which the code of a smart contract is exploited
how Vivek would prevent the use of crypto for illicit ends
why he thinks that the current status quo in terms of crypto regulation is the “worst of all worlds”
Vivek’s plan to stabilize the U.S. dollar by pegging it to a basket of commodities, potentially including Bitcoin
why he is so against the creation of a central bank digital currency in the U.S.
how blockchain technology can be used to help the U.S. maintain its technological supremacy
Thank you to our sponsors!
Arbitrum Foundation
Phemex
Popcorn Network
Guest
Vivek Ramaswamy, 2024 U.S. Presidential Candidate
Vivek on The Chopping Block: Why Vivek Ramaswamy Wants Less Crypto Regulation
Links
Original speech unveiling his crypto policy plan at the North American Blockchain Summit 2023
Unchained: GOP Candidate Vivek Ramaswamy Makes the Case for Reduced Crypto Regulation
Bloomberg: Ramaswamy’s Crypto Deregulation Plan Is Scaring the Industry
CoinDesk: Ramaswamy Shares Crypto Plan, Making Him the Only GOP Candidate Who Has One

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1 hr 3 min
November 28, 2023Why the Crypto Industry Is So Upset About the IRS’ Proposed New Tax Reporting Rules - Ep. 575
The IRS sparked a storm of controversy when it released proposed new rules for crypto transaction reporting earlier this year. The new rules seek to define who is considered a broker, what types of transactions need to get reported, and the kinds of digital assets that need to be included, but many in the industry consider them overly broad and ultimately unworkable.
Lawrence Zlatkin, VP of Tax at Coinbase, and Shehan Chandrasekera, Head of Tax Strategy at tax software firm CoinTracker, discuss the crypto industry’s specific objections to the proposed new rules, and what might be a better way forward. They also delve into how the regulations would apply to stablecoins and NFTs, potential blockchain-based solutions for the reporting requirements, and what the likely outlook and timeline for the proposals to come into effect are.
Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.
Show highlights:
What the newly proposed IRS regulations around crypto are and when they are likely to go into effect
what entities qualify as a broker and why this may pose a problem
what the implications for the industry are if these regulations were passed
the number of additional reports the IRS is expecting to receive if these regulations are adopted
how the regulations would apply to stablecoins and NFTs
what the five types of brokers are under the proposed regulations and the three types that they exclude, according to Shehan
the unprecedented amount of comments submitted
what suggestions Coinbase and CoinTracker have in mind for better tax regulation
why Lawrence thinks that DeFi exchanges should be treated the same as centralized ones
whether people should have privacy concerns about the new proposals
what some blockchain-based solutions for tax reporting are, such as attestation tokens
what the next steps for the IRS proposed regulation are
how long it will take to actually implement these regulations
Thank you to our sponsors!
LayerZero
Popcorn Network
Guests:
Shehan Chandrasekera, Head of Tax Strategy at CoinTracker
Lawrence Zlatkin, VP of Tax at Coinbase
Links
Previous coverage of Unchained on crypto taxes, with appearances from Shehan and Lawrence:
Everything You Need to Know About Filing Your 2022 Crypto Taxes
Your 2021 Crypto Taxes: How to Handle NFTs, DAOs, Airdrops and More
Everything You Need to Know About Your 2020 Crypto Taxes
Why You Shouldn’t Trust Crypto Exchange Reports for Your Taxes
The IRS Is Cracking Down on Crypto Taxes: What You Need to Know
Could the Bank Secrecy Act Harm Crypto? Coin Center Thinks So
Infrastructure Investment and Jobs Act (117th Congress)
Proposed rule:
IRS proposed rule text: Gross Proceeds and Basis Reporting by Brokers and Determination of Amount Realized and Basis for Digital Asset Transactions
U.S. Department of the Treasury, IRS Release Proposed Regulations on Sales and Exchanges of Digital Assets by Brokers
CoinDesk: How the Crypto Industry Responded to the IRS Proposed Broker Rule
Twitter thread from Ji Kim of Crypto Council for Innovation
CNBC: President Joe Biden to sign the bipartisan infrastructure bill⁠ into law—here's how crypto investors will be impacted
IRS issues guidance, seeks comments on nonfungible tokens
Coinbase first comment letter
Coinbase second comment letter
CoinTracker comment letter

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58 min
November 24, 2023Sam Bankman-Fried Whisperer Tiffany Fong Spills Some Tea - Ep. 574
Tiffany Fong has had an unusual route to crypto fame. After losing most of her life savings in the Celsius bankruptcy, she began posting on YouTube about her experiences and eventually received some leaked documents, which she shared with The New York Times and on her channel. The leaks gave her some visibility, and that’s when Sam Bankman-Fried began following her on Twitter.
Fong unexpectedly managed to carve out a relationship with the one-time crypto mogul, and after he was arrested last November, she chatted often and even met with him while he was under house arrest. From there, she became known for posting details of her conversations with Bankman-Fried and documents he shared with her, and went on to attend every day of his trial in person and do videos on them.
On this episode of Unchained, Fong shares why she thinks SBF opened up to her, whether she ever had a romantic relationship with him, her unpleasant encounter with Sam Bankman-Fried’s mother at the trial, why she doesn’t really consider herself a crypto influencer, and what her plans are now that the trial is over.

Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.
Show highlights:
what Tiffany did before getting into crypto
how Tiffany lost most of her life savings in the Celsius bankruptcy and how that jumpstarted her journey into the content creation space
how she got in touch with Sam Bankman-Fried and got him to speak with her after FTX’s collapse
the conversations Tiffany had with SBF during his house arrest
Tiffany's response to the rumors about a romantic relationship with SBF
how Tiffany reacted to the DOJ reaching out to her for information before the SBF trial
why she decided to go to the courtroom every day during the SBF trial
Tiffany’s unpleasant encounter with SBF's mom, Barbara Fried
how Tiffany feels about crypto, and why she doesn’t consider herself a "crypto influencer"
what Tiffany’s career plans are now that the SBF trial is over
Thank you to our sponsors!
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Popcorn Network
Phemex
Guest
Tiffany Fong, Crypto content creatorLinks
Unchained:
RollingStone: The Crypto Whistleblower at the Center of the Sam Bankman-Fried Storm

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48 min
November 23, 2023The Chopping Block: What Does Binance’s Record $4.3 Billion Settlement Mean for Crypto? - Ep. 573
Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest news. This week, the gang breaks down the record $4.3 billion settlement between Binance and the U.S. government — whether it was fair, the chances CEO Changpeng Zhao will face any jail time, whether it was ultimately a good thing for Binance and for the U.S., and what this changes for the industry going forward. They also delve into the SEC’s lawsuit against Kraken, and the drama around Sam Altman’s firing from Open AI and what it says about corporate governance and crypto companies.
Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform.

Show highlights:
the details of the settlement between Binance and the Department of Justice
how a core part of Binance’s business model was to allow bad actors on its platform, according to Robert
why Binance had to settle with the U.S. government even though it's not an American company
why Tom believes that the settlement represents a "very bad lesson"
whether U.S. market makers should be liable in cases like these
how the crypto community has reacted to the settlement
what the settlement means for the future of the crypto industry
whether the new SEC lawsuit against Kraken is just a “copy-and-paste” of its suit against Coinbase
The drama around Sam Altman’s removal from his role as CEO of OpenAI
Why Robert thinks that the OpenAI board was “silly and dumb”
What the problems at OpenAI say about its innovative governance structure
Hosts
Haseeb Qureshi, managing partner at Dragonfly
Robert Leshner, founder of Compound
Tom Schmidt, general partner at Dragonfly
Tarun Chitra, managing partner at Robot Ventures
DisclosuresLinks
Binance Settlement
Unchained:
Binance to Pay $4.3 Billion to Settle U.S. DOJ Criminal Probe; CEO Changpeng Zhao Pleads Guilty for Violating Bank Secrecy Act
Binance CEO CZ Released on $175 Million Bond
SEC Charges Against Kraken
Unchained: Crypto Exchange Kraken Accused by SEC of Violating Securities Law
OpenAI
The Verge: Sam Altman returns as CEO of OpenAI
Unchained: Worldcoin Falls and Rises After Sam Altman-OpenAI Saga
Haseeb’s tweet on accelerationism

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1 hr 3 min
November 21, 2023Why Financial Advisors Are So Excited About a Spot Bitcoin ETF - Ep. 572
According to surveys of financial advisors, only 12% are currently recommending that clients invest in Bitcoin, while 47% of advisors personally own Bitcoin and a whopping 77% say they are waiting for a spot Bitcoin ETF to become available so they can offer it to their clients.

On this episode of Unchained, Ric Edelman, founder of the Digital Assets Council of Financial Professionals and author of “The Truth About Crypto,” explains how this should all lead to high demand once the first spot Bitcoin ETFs become available, although it will take some time for them to allocate. Edelman also discusses how FTX’s implosion impacted advisor perceptions of crypto, why investors have not been that excited by crypto futures ETFs, and which Bitcoin ETF issuers he believes are likely to be the big winners.

Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.
Show highlights:
how regulatory confusion keeps financial advisors away from recommending Bitcoin to their clients
how the collapse of FTX affected financial advisors’ interest in crypto, according to Ric
how the knowledge level of financial advisors about Bitcoin is "extraordinarily low"
why 77% of investment advisors are willing to buy a spot Bitcoin ETF
why there wasn't a huge interest from advisors after the launch of Bitcoin futures ETFs
the percentage of client portfolios that he expects they will allocate to BTC
why Ric thinks there won't be huge inflows immediately after the approval of spot BTC ETFs
how financial advisors will decide whose ETF to buy, among the 12 potential issuers
why he believes spot Ethereum ETFs have great growth potential
why he thinks tokenization might be the "next big thing" that will increase institutional activity
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Guest:
Ric Edelman, Founder of the Digital Assets Council of Financial Professionals
Previous appearance on Unchained: Financial Advisors Control $5 Trillion in Investor Wealth. Are They Buying Bitcoin?
Links
Previous coverage on spot Bitcoin ETFs:
How Much Money Will Flow Into Bitcoin ETFs? Here’s One Projection
Why a Spot Bitcoin ETF Will Probably Launch No Later Than January 10
Why It Looks Like BlackRock Could Win America’s First Spot Bitcoin ETF
The Chopping Block: Are We Back? The 'Low IQ' Response to the Potential Spot Bitcoin ETF
Unchained:
BlackRock Files for Spot Ethereum ETF
The Bitcoin ETF Is a Double-Edged Sword
Bitcoin ETFs Explained: What Are They & How Do They Work?
CoinDesk: BlackRock Bitcoin ETF in August Got on DTCC Site That Just Belatedly Moved Markets

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1 hr 5 min
November 17, 2023Could the Bank Secrecy Act Harm Crypto? Coin Center Thinks So - Ep. 571
In this episode of Unchained, Peter Van Valkenburgh, director of research at Coin Center, explains why the IRS's proposed broker rule for tax reporting in crypto could harm the crypto industry as well as the security and privacy of users. He explains how Coin Center thinks the IRS should accomplish its aims, and why that would even work for collecting taxes on DeFi gains.
Additionally, Peter explains why he believes the Bank Secrecy Act might be unconstitutional and how that could potentially affect developers building in crypto.
Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.
Show highlights:
What the IRS's proposed broker rule entails for crypto tax reporting and why this could have a negative impact on the industry
What responsibilities brokers in the crypto space now face
Why the IRS didn’t use Congress's amended language from the infrastructure bill
Why Peter argues that the IRS’s new proposed broker rule on crypto is unconstitutional and the principles at stake
The alternative approaches Peter suggests the IRS could adopt for more effective and fair regulation
Why Peter has concerns for crypto developers about the potential application of the Bank Secrecy Act
What actions Coin Center is undertaking to advocate for changes in the Bank Secrecy Act to better align with crypto realities
Why Coin Center is appealing in its lawsuit against the Treasury Department over the OFAC sanctions on Tornado Cash
Thank you to our sponsors!
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Popcorn Network
Guest
Peter Van Valkenburgh, director of research at Coin Center
Previous appearances on Unchained:
Why the SEC Is Probing Yuga Labs and Coin Center Is Suing Treasury
How Coin Center Is Helping Define The 'Big Fuzzy Gray Area' Of Blockchain And Cryptocurrency Law
Why the SEC's Proposed Rules Affecting DeFi Could Violate the First Amendment
Links
IRS Crypto Regulation
Coin Center: Electronic Cash, Decentralized Exchange, and the Constitution
The Blockchain Association’s letter opposing tax regulations proposed by the IRS
CoinDesk: How the Crypto Industry Responded to the IRS Proposed Broker Rule
Patriot Act
California Bankers Assn. v. Shultz
Bank Secrecy Act
Coin Center:
Broad, Ambiguous, or Delegated: Constitutional Infirmities of the Bank Secrecy Act
Tornado Cash
Coin Center:
U.S. Treasury sanction of privacy tools places sweeping restrictions on all Americans
Coin Center is suing OFAC over its Tornado Cash sanction
Denial of Coin Center’s motion in its case against the US Treasury over OFAC sanctions

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41 min
November 14, 2023How Much Money Are Terrorists Actually Raising in Crypto? - Ep. 570
The recent Wall Street Journal article that claimed Hamas raised $130 million via cryptocurrency has sparked considerable debate, especially after Sen. Elizabeth Warren used it as her sole source to ask for tighter regulations around crypto. However, the veracity of this claim has come under scrutiny.
Yaya Fanusie, Jessi Brooks, and Andrew Fierman delve into the veracity of reported figures, the methodology behind them, and the subsequent industry responses that sought to correct the public record. They examine the political implications of cryptocurrency, its use in funding organizations, and the nuanced role of stablecoins in this digital economy. Additionally, they address the broader challenges in regulating crypto to prevent illicit funding, emphasizing the need for factual accuracy and a comprehensive approach to understanding and tackling such complex issues.
Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.
Show highlights:
how the Wall Street Journal article claimed that Hamas and other militant groups in Palestine raised $130 million via crypto
why Yaya, who spent some time in his career doing research on terrorist financing, found those numbers odd
why Jessi believes that there's been a loss of focus on facts and accuracy
Andrew's explanation of the post by Chainalysis that corrected the record
why it's so difficult to make a confident assessment of how much money is being funneled to terrorist groups
whether crypto has become politicized
why is it so important to focus not only on the crypto fundraising but also the other avenues, according to Jessi
the role of USDT and other stablecoins in fundraising terrorist organizations
how North Korea is a much more sophisticated actor than Hamas in its know-how about crypto
how the government has tried to respond to the illicit usage of crypto, such as the OFAC sanctions on Tornado cash
the challenges to creating regulations to prevent the use of illicit activity in crypto
Thank you to our sponsors!
Crypto.com
LayerZero
Popcorn Network
Guests:
Yaya Fanusie, Director of anti-money laundering and cyber risk at the Crypto Council for Innovation
Previous appearance on Unchained: How Widespread Is Money Laundering in Crypto?
Hamas has been experimenting with crypto for years: Yaya Fanusie, appearance on FOX Business
Jessi Brooks, CCO and Legal Officer at Ribbit Capital
Previous appearance on Unchained: How This DOJ Strike Force Hunts Down Cryptocurrency Criminals
Andrew Fierman, Head of Sanctions Strategy at Chainalysis
Links
Fundraising report and corrections:
WSJ:
Hamas Militants Behind Israel Attack Raised Millions in Crypto
Cryptocurrency Feeds Hamas’s Terrorism
Questioning Two Senators on Crypto Terrorism
Washington Post:
U.S. to warn crypto firms against financing Hamas, terror groups
U.S. Cyber Command helps prosecutors seize stolen cryptocurrency traced to illicit N. Korea nuclear weapons program
FT: Israel orders freeze on crypto accounts in bid to block funding for Hamas
Fortune: Stricter verification laws in the U.S. won’t stop international terrorists from using crypto
DOJ: Global Disruption of Three Terror Finance Cyber-Enabled Campaigns
Elliptic:
Setting the record straight on crypto crowdfunding by Hamas
How Hamas has utilized crypto, and what may be coming
Chainalysis:
Cryptocurrency and Terrorism Financing: Correcting the Record
DOJ Takedowns Terrorism Financing with Blockchain Analysis

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1 hr 12 min

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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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