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Bitcoin Ordinals have exploded in popularity since their launch by developer Casey Rodarmor in January, changing the NFT game with millions of inscriptions to date. But what comes next for Bitcoin-based digital artifacts? Danny Yang and Bill Tai, cofounders of Metagood and creators of NFT collection OnChainMonkey, discuss why they will move OnChainMonkey from Ethereum to Bitcoin, Rodarmor’s proposal to change the Ordinals inscription numbering system, and why they believe more creators should consider moving to Bitcoin.
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As lawsuits continue to pile up in the FTX saga, FTX chief John Ray III is focused on clawing back funds from former affiliates to pay back creditors. But how might that play out in court? Founder of 117 Partners Thomas Braziel, who specializes in the trading of bankruptcy claims, explains the different paths Ray may choose to go down and the potential outcomes of these cases.
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Welcome to The Chopping Block – where crypto insiders chop it up about the latest news. This week, Haseeb Qureshi and Tom Schmidt speak to Will Warren, cofounder of 0x Labs, to discuss why the CFTC issued them a Wells Notice, how they responded to regulatory scrutiny, and how other countries may offer a blueprint for crypto regulation.
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Zeke Faux, author of 'Number Go Up,' shares his findings after making a deep dive into the world of crypto. From skepticism to a full-blown investigation, Faux recounts his journey that led him to the heart of crypto, meeting some of the most eccentric characters in the industry. As a Bloomberg investigative reporter, Faux brings a critical eye to the crypto sphere, unearthing the bizarre, the risky, and the downright astonishing facets of what the crypto community calls a financial revolution.
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Show highlights:Bloomberg: 11 Hours With Sam Bankman-Fried: Inside the Bahamian Penthouse After FTX’s Fall
LinksTether
Sam Bankman-Fried and FTX
Pig butchering scams
Crypto in developing countries
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In the wake of FTX’s collapse, Binance – already the biggest exchange in the world by a large margin – has continued to grow. But a series of challenges, including billions of dollars worth of customer outflows, the winding down of its stablecoin BUSD and the SEC and CFTC lawsuits related to its U.S. operations have challenged its market dominance. Steven Ehrlich, director of research at Forbes Crypto, joins the show to discuss how Binance has been dealing with a deluge of bad news and how it plans to forge a path forward.
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It’s been a busy year for USDC issuer Circle, with several new product launches and partnerships, a crypto banking crisis to contend with, the entry of PayPal into the stablecoin business, and plenty of new global regulatory developments, including a bill in the U.S. now making its way through Congress. Circle co-founder and CEO Jeremy Allaire joins Unchained for an in-depth discussion on the reasons behind Coinbase’s investment in Circle, how Circle has emerged stronger from the banking crisis, what he thinks of PYUSD, what he likes and doesn’t like about the current U.S. stablecoin bill, and his thoughts on what the final bill will look like.
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Earlier this week, Ethereum co-founder Vitalik Buterin and four co-authors published a paper describing a smart contract protocol called privacy pools that would enable crypto users to associate their funds with those being used for legitimate purposes versus those being used in criminal activity such as hacks or money laundering. The protocol addresses one of the main shortcomings of coin mixer Tornado Cash, which has been sanctioned by the U.S. government.
Chainalysis chief scientist Jacob Illum, one of those co-authors, discusses the impetus for the paper, the technology behind privacy pools and how they would work in practice, who would provide some of the necessary organization to operate the pools, and some of the early criticisms of the paper.
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Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tarun Chitra, and Robert Leshner chop it up about the latest news. This week, the group sits down with Circle CEO Jeremy Allaire to discuss how the USDC stablecoin issuer responded to the banking crisis that started at the end of 2022, what PayPal’s new stablecoin offering means for Circle and the rest of the industry, and whether central bank digital currencies (CBDCs) represent real competition for stablecoins.
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Friend.tech, a decentralized social media platform in which you can buy and sell “keys” in your friends on X (formerly known as Twitter) whose value can go up and down, has become a viral sensation, racking up as many as 100,000 users since launching on August 10. Should keys be considered securities and thus regulated by the SEC? How should gains and losses be taxed? And how private should users assume their communications and transactions on the platform are? Securities and banking law professor at George Mason Law School JW Verret, and tax partner and co-head of the Digital Assets and Blockchain Practice at Fried Frank Jason Schwartz, share their thoughts.
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:Decrypt: Friend.tech Renames Its Token—But Is It Even Legal?
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This week’s emphatic ruling in favor of Grayscale in its suit against the SEC to convert its massive bitcoin trust into an ETF generated plenty of hopium among the bitcoin faithful that a spot bitcoin ETF will get approved soon and open a flood of investment in bitcoin. What are the odds of that truly happening now, though, and if it did, how much additional money could wind up being invested in bitcoin as a result? Also, which companies’ applications would get approved first and how would the various products compete with one other? Bloomberg’s senior ETF analyst Eric Balchunas separates the hype from the reality in answering these questions and more.
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