Unchained

Unchained

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Unchained episodes

  • New Order in SEC vs. Ripple Over XRP Is a Win for Crypto: What Happens Now? - Ep. 518

    The SEC and Ripple have been locked in a legal tug of war for years, stirring up waves of controversy and debate in the crypto community. Finally, Judge Analisa Torres has given an order establishing that XRP buyers trading on exchanges were not, in fact, engaging in a securities transaction, a decision that could have far-reaching implications for the industry. Lewis Cohen, co-founder of DLx Law, unpacks the details of this pivotal case and what it might mean for the future of cryptocurrency regulation.


    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:

    • why the SEC lawsuit against Ripple has such historical significance in the crypto industry
    • how Judge Torres split the case into two categories 
    • why the 'programmatic buyers' did not meet the four prongs of the Howey test
    • why the institutional sales constituted an investment contract 
    • what makes the Ripple case different from the Kik and Telegram cases
    • whether the new ruling by Judge Torres will have an impact on how other crypto projects deal with their offerings
    • why, in the event of an appeal, Lewis expects a Second Circuit decision to take at least one year
    • whether Judge Torres' decision will impact the ongoing cases against crypto exchanges like Coinbase
    • why Lewis thinks the XRP order will not change the likelihood that spot bitcoin ETFs get approved
    • how there's no way to deal with information asymmetries in digital assets now
    • Thank you to our sponsors!
      • Crypto.com
      • Railgun DAO
      • Ondo Finance
      • Arbitrum Foundation
      • Guest
        • Lewis Cohen, Cofounder DLx Law
        • Previous appearances on Unchained: The Lummis/Gillibrand Crypto Bill: Is the ‘Ancillary Token’ Approach the Best
        • Links
          • Previous coverage of Unchained on the Ripple case: 
          • The SEC's Lawsuit Against Ripple and 2 Execs: What You Need to Know 
          • Ripple's XRP: Why Its Chances of Success Are Low
          • CoinDesk: Ripple, Crypto Industry Score Partial Win in SEC Court Fight Over XRP
          • The Ineluctable Modality of Securities Law: Why Fungible Crypto Assets Are not Securities
          • Paradigm Files Amicus Brief in SEC’s Lawsuit Against Ripple
          • The Block: Lummis, Gillibrand to introduce revised comprehensive crypto bill 
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            49 min
          • The Chopping Block: Will Tokenizing RWAs Finally Click This Time? - Ep. 517

            Welcome to “The Chopping Block” – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest crypto news. This week, the crew is joined by Goldfinch co-founder Blake West to talk about the momentum around asset tokenization. Whether it’s private credit (what Goldfinch specializes in) or U.S. Treasurys (what Robert’s new venture Superstate will tackle), real-world assets (RWAs) are en vogue among the crypto set. What’s driving this fresh interest in an old concept that has failed to take off?

            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: 
            • how Blake got into RWAs
            • why Robert launched his new company Superstate
            • why Robert hates the term “real-world asset”
            • why the only actual RWA in the blockchain space is the U.S. dollar, aka stablecoins
            • why other non-native crypto assets have struggled to migrate onto blockchains
            • how having on-chain T-bills could push demand for stablecoins
            • why private credit is a good thing to bring on chain, according to Blake
            • what the not-so-obvious benefits of bringing these things onto blockchains are
            • whether Arkham’s model of de-anonymizing people goes against the ethos of crypto

            • 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

                Guest:

                Blake West, cofounder of GoldfinchDisclosuresLinks
                • Unchained:
                • Compound Founder Creates ‘Superstate’ to Bridge TradFi and Blockchains
                • Arkham Launches Bounty Marketplace to Trade Crypto Wallet Intel
                • MakerDAO Mulls Proposal to Allocate $750 Million More to US Treasuries
                • MakerDAO Has Brought in Real World Assets. Is It Worth the Risk?
                • CoinDesk:
                • Tokenized U.S. Treasurys Surpass $600M as Crypto Investors Capture TradFi Yield
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                  57 min
                • When AI and Blockchain Meet, How Can Each Technology Benefit? - Ep 516

                  In recent months, ChatGPT, Bard and other new artificial intelligence (AI) products have revolutionized numerous industries. But how this nascent technology can work with crypto and blockchain technology is still relatively unexplored. In this episode, Illia Polosukhin and Jason Warner delve into the transformative potential of AI and crypto coming together. 

                  They explore a wide array of applications, from AIs managing Decentralized Autonomous Organizations (DAOs), to DAOs being used to help open source AIs, to blockchain technology making the inner workings of AIs more transparent. 

                  Tune in to this episode for a deep dive into the fusion of AI and crypto.

                  Show highlights:
                  • Illia's and Jason’s backgrounds, including how Illia’s work in artificial intelligence (AI) got him into crypto
                  • what AI actually encompasses and how to define it
                  • why Jason says that "it works right now, it's machine learning and if you're raising money, it's AI"
                  • how blockchains can facilitate the provision of resources for training data 
                  • the problem of attribution in training AI models
                  • how OpenAI and Midjourney hold a lot of power at the moment, according to Illia
                  • why open source code helps build better AI systems
                  • how LLMs are being used to audit code in the blockchain ecosystem
                  • up to what point AI can be used for crypto trading
                  • why misinformation is a human problem, not an “AI problem,” and how blockchain technology can help solve this issue
                  • how blockchains can be used to verify facts to combat misinformation
                  • whether AI can help mitigate attacks on DeFi protocols
                  • how DAOS and AI can work together and whether AI can coordinate a company
                  • what’s missing in terms of infrastructure for DAOs to thrive with AI
                  • how to structure regulation with this rapidly evolving technology

                  • Thank you to our sponsors!
                    • Crypto.com
                    • Arbitrum Foundation
                    • TOKEN2049
                    • OKX
                    • Guests:
                      • Illia Polosukhin, cofounder of NEAR.
                      • Previous appearance on The Chopping Block: The Chopping Block: Why AI Will Change the Course of History in Crypto
                      • Jason Warner, founder at Poolside. 
                        Links
                        • Op-ed by Illia: Blockchain can save the media - Blockworks
                        • CoinDesk: 
                        • AI Can Generate a Trading Edge in Crypto Markets
                        • 10 Ways Crypto and AI Can Make Each Other Better (or Maybe Worse)
                        • Blockchain May Offer Answers for AI Challenges
                        • Former FTX.US President Brett Harrison's New Venture Is Seeking to Harness AI for Crypto Trading
                        • Blockchain Developer Platform Alchemy Releases AI-Powered Tools for Web3 Builders
                        • When AI and Blockchain Merge, Expect the Mundane at First
                        • Imagining the Future AI and Web3 Can Build
                        • World Economic Forum: Blockchain can help combat the threat of deepfakes. Here's how
                        • Cointelegraph: DAOs: Where humans may fail, AI could succeed
                        • Forbes: Convergence Of Web3, AI And Metaverse: Navigating The Great Reset For Investors, 
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                          1 hr 14 min
                        • Circuit Breakers: Is ERC-7265 the Solution dApps Were Waiting For? - Ep. 515

                          In 2022, crypto crime hit an all-time high. A staggering $3.8 billion in crypto was stolen, with DeFi protocols bearing the brunt of these thefts, accounting for 82% of the total losses. Amid this alarming scenario, has a beacon of hope emerged in ERC-7265? 

                          The proposal aims to create a 'circuit breaker' safety layer for DeFi contracts, potentially revolutionizing security measures in the crypto space. Could this be the key to bolstering security and paving the way for mass adoption of DeFi? Will it essentially centralize protocols? Tune in to find out.

                          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 ERC-7265 is meant to do and why they called it a 'circuit breaker’
                          • how the idea would actually work on chain
                          • how this ERC could make DeFi applications more centralized, rather than decentralized
                          • what can be done to prevent small teams from seizing funds
                          • how different teams will be able to design the circuit breaker as they want
                          • what unsafe arbitrary calls and unprotected flows are
                          • why Philippe believes that this proposal will help newer teams improve their security
                          • how the ERC can pave the way for a more decentralized protocol 
                          • what will it take for protocols to start adopting the new standard
                          • Thank you to our sponsors! 
                            • Crypto.com
                            • Railgun DAO
                            • Ondo Finance
                            • Arbitrum Foundation
                            • Guest
                              Philippe Dumonet, Cofounder of DeRegLinks
                              • Chainalysis 2022 report
                              • The Block: Ethereum community proposes new standard to mitigate DeFi hacks
                              • Philippe’s thread on ERC-7265
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                                41 min
                              • ERC-6551: Is This the Next Big Leap in NFT Innovation? - Ep. 514

                                The ERC-721 token standard on Ethereum ignited the frenzied world of NFTs. Yet, as the dust settled, their limitations became apparent. Enter ERC-6551, a new standard designed to overcome these challenges.

                                Benny Giang and Jayden Windle, cofounder and founding developer of Future Primitive, respectively, delve into the transformative potential of ERC-6551, a standard which allows every NFT to have a smart contract wallet associated with it. They discuss the exciting new possibilities it unlocks in the spheres of gaming, the metaverse, identity, messaging, and more.

                                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 ERC-6551 is and how the idea was born
                                • the differences between NFT token standards
                                • the four big categories of applications for this new token standard
                                • why Benny thinks that "network playable characters" will solve many of the problems in the digital space
                                • how the token bound accounts work and whether they can interact with existing wallets
                                • the security implications of using ERC-6551
                                • what Future Primitive does in the web3 space
                                • how creators can benefit from this new development
                                • whether it's possible for soulbound tokens to work with token bound accounts
                                • how blue chip NFT collections are using ERC-6551, if at all
                                • what could go wrong with token-bound accounts that are combined with AI
                                • what new things are being envisioned with this new standard

                                • Thank you to our sponsors!
                                  • Crypto.com
                                  • Arbitrum Foundation
                                  • TOKEN2049
                                  • OKX
                                  • Guests:
                                    • Benny Giang, cofounder of Future Primitive 
                                    • Jayden Windle, founding developer of Future Primitive
                                    • Previous appearance on Unchained: Your NFTs Can Do Much More Than You Think

                                    • Links
                                      • ERC-6551: Non-fungible Token Bound Accounts
                                      • Tokenbound
                                      • ERC 6551 — Token Bound Accounts. Every NFT will have their own wallets… by Benny Giang
                                      • Unchained: 
                                      • How Soulbound Tokens Could Reduce Speculation and Improve DAO Voting - Quadratic Funding
                                      • Could Account Abstraction Make Self-Custody Easier for Crypto Users?
                                      • Ethereum Implements Account Abstraction With ERC-4337
                                      • What Can You Do in the Metaverse?
                                      • Exploring the NFT blue chips
                                      • What is the metaverse?
                                      • What Is an NFT Marketplace?
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                                        1 hr 2 min
                                      • Will FTX Reboot? Here’s John Ray’s Internal Deadline for Making a Decision - Ep. 513

                                        From “hush money” allegations to a prospective FTX relaunch, it’s been a crazy week for those following the legal saga of Sam Bankman-Fried’s collapsed crypto empire. Perhaps few are following it more closely than 507 Capital founder Thomas Braziel, who specializes in the trading of bankruptcy claims. He explains the significance of a spate of recent headlines and shares newsworthy tidbits from his meeting with new FTX honcho John J. Ray III.


                                        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 Daniel Friedberg lawsuit revealed about the whistleblowers of FTX
                                        • how FTX used allegedly false claims in its Series C funding round
                                        • whether Friedberg’s former law firm, Fenwick & West, will suffer legal consequences
                                        • how John Ray is prosecuting the allegedly fraudulent transactions made by FTX
                                        • what stood out to Thomas in his personal dealings with John Ray
                                        • what the timeline is for filing a reorganization plan for FTX
                                        • what the odds are of an FTX 2.0 relaunch, according to Thomas
                                        • why Thomas says that FTT won’t play a role in the potential FTX recovery 
                                        • whether the decision to redact the identities of FTX customers was right

                                        • Thank you to our sponsors!
                                          • Crypto.com
                                          • Proton
                                          • Railgun DAO
                                          • Guest
                                            • Thomas Braziel, Founder of 507 Capital
                                            • Previous appearances on Unchained
                                            • Will FTX Customers Ever Recover Their Assets? Two Insolvency Experts Weigh In
                                            • Will Celsius Survive the Bankruptcy Process?
                                            • How Crypto Bankruptcy Claims Buyers Will Profit From the Collapse of FTX
                                            • Links
                                              • Previous coverage of Unchained on Sam Bankman-Fried and FTX:
                                              • The Chopping Block: Was FTX a Scam From the Very Beginning? 
                                              • How Much Prison Time Is FTX’s Sam Bankman-Fried Facing? 
                                              • Why the Legal Process for FTX and Sam Bankman-Fried Could Take Years
                                              • The Chopping Block: SBF Wants to Win in the Court of Public Opinion. Will He?
                                              • Jesse Powell and Kevin Zhou on How FTX and Alameda Lost $10 Billion
                                              • Is the Collapse of Crypto Lending Over, or Is It Just Starting?
                                              • Did the Bahamian Government Direct SBF and Gary Wang to Hack FTX?
                                              • The Chopping Block: Why Lenders Didn’t Liquidate Alameda When It Was Underwater 
                                              • Erik Voorhees and Cobie on Why FTX Loaned Out Customers’ Assets
                                              • The Chopping Block: FTX: The Biggest Collapse in the History of Crypto?
                                              • Sam Bankman-Fried on How to Prevent the Next Terra and 3AC
                                              • CoinDesk: FTX Customers Have Until End-September to Submit Bankruptcy Claims
                                              • Unchained:
                                              • FTX Sues Former Compliance Chief Who Allegedly Silenced Whistleblowers
                                              • FTX Stops Sale of $500 Million Stake in AI Firm Anthropic: Report
                                              • FTX Recovers $7 Billion in Assets in Liquid Assets
                                              • WSJ: FTX Begins Talks on Reboot Amid Regulatory Crackdown on Crypto Exchanges 
                                              • Bloomberg: Bankman-Fried's FTX Halts Sale of $500 Million AI Startup Anthropic Stake
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                                                45 min
                                              • The Chopping Block: Why the Azuki Elementals Drop Was a Big Flop - Ep. 512

                                                Welcome to “The Chopping Block” – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest crypto news. 

                                                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: 
                                                • why the Azuki new NFT collection 'Elementals' caused such a controversy among holders
                                                • why Robert bought an Elemental and what was he expecting
                                                • who the Michael Milken of NFTs is, according to Tarun
                                                • how BitGo 'pulled a Binance' on Prime Trust
                                                • how Prime Trust, a crypto custodian, collapsed and was put into receivership
                                                • whether what Prime Trust did can be considered fraud and how the situation highlights DeFi's 'long term advantage'
                                                • why the majority of blockspace is EVM-compatible
                                                • what the problems are with current Layer 2 rollups such as Optimism and Arbitrum
                                                • why rollups are so 'political' in the Ethereum ecosystem
                                                • what makes Arbitrum better than Optimism, according to Tarun
                                                • what shared sequencers are and whether they will be the future in crypto
                                                • Why Haseeb is not so bullish on the app-chain thesis
                                                • 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
                                                    • Unchained:
                                                    • Polygon Cofounder Proposes Upgrading PoS Chain to zkEVM Validium
                                                    • The Block: 
                                                    • Azuki NFT collections ends Elemental mint with $37.5 million
                                                    • Fidelity preparing to submit spot bitcoin ETF filing: Source
                                                    • CoinDesk:
                                                    • Azuki NFT Prices Slide 44% After Creator Releases 'Basically Identical' Elementals
                                                    • Nevada Files to Place Crypto Custodian Prime Trust Into Receivership
                                                    • Azuki’s thread on its situation

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                                                      1 hr 11 min
                                                    • Prometheum and Paradigm in Debate: Can the Status Quo Work for Crypto? - Ep. 511

                                                      Aaron Kaplan, co-CEO of Prometheum, the trading platform that recently acquired a special-purpose broker dealer license for digital asset securities, has become a major lightning rod in the crypto community. Does the firm represent, as Kaplan has argued, a compliant path forward for crypto in the United States? Or, as Paradigm Special Counsel Rodrigo Seira maintains, does it only demonstrate that the SEC’s crypto regime is simply unworkable? The two join the show to debate the specifics – and it certainly gets heated.

                                                      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:

                                                      • whether it is even possible to compliantly register a crypto exchange in the U.S. following SEC Chair Gary Gensler’s recent public statements
                                                      • which tokens Prometheum can list, if any
                                                      • why Rodrigo and Aaron disagree over what constitutes a security
                                                      • whether the Howey Test applies in secondary market transactions for tokens sold pursuant to a SAFT
                                                      • why Aaron says that Paradigm should reassess its entire thesis and that the status quo benefits venture capital firms like Paradigm
                                                      • why Rodrigo says Prometheum has a license, but not a business
                                                      • who would be responsible for providing required disclosures for a decentralized network like Ethereum
                                                      • how many tokens Aaron expects to list on the Prometheum platform
                                                      • whether Aaron and Prometheum had specific discussions with the SEC about what tokens are securities
                                                      • Aaron’s response to allegations that the Chinese Communist Party is infiltrating the U.S. financial system through Prometheum
                                                      • whether Aaron had previewed the questions he was asked by representatives in his Congressional hearing
                                                      • what they believe should be included in disclosures about tokens if federal securities laws didn’t exist and guidelines for disclosures were written from scratch
                                                      • what Aaron has to say about the Blockchain Association’s recent FOIA request
                                                      • whether Prometheum is open to being acquired by other entity
                                                      • Thank you to our sponsors!
                                                        • Crypto.com
                                                        • TOKEN2049
                                                        • OKX
                                                        • Guest:
                                                          • Aaron Kaplan, co-CEO and co-founder of Prometheum.
                                                          • Previous appearance on Unchained: 
                                                          • These 2 Crypto Trading Platforms Agree With SEC Chair Gary Gensler
                                                          • Aaron’s written testimony
                                                          • Rodrigo Seira, special counsel at Paradigm.
                                                          • Rodrigo’s thread on Prometheum
                                                          • Links
                                                            • Unchained: 
                                                            • Crypto Community Unearths Questionable History of SEC-Aligned Prometheum
                                                            • Former SEC Cyber Chief Calls the Agency’s Way of Labeling Tokens Securities ‘Not Fair’
                                                            • Investopedia: Schwab and Fidelity-Backed Crypto Exchange EDX Goes Live, Adds More Backers
                                                            • CoinDesk: 
                                                            • Gary Gensler’s Catch-22 Vision of ‘Regulated’ Crypto Brokers
                                                            • Key Takeaways From House Hearing on Future of Digital Assets
                                                            • The Crypto Basic: Prometheum Founder Says SEC Will Win Ripple Lawsuit, XRP Community Reacts
                                                            • Digital Asset Investor’s video on SEC setting up a Chinese back door into crypto
                                                            • Thread from Blockchain Association’s Marisa Coppel
                                                            • Adam Cochran points out a slew of details that call Prometheum into question.
                                                            • Matt Walsh questions how Kaplan can be called a securities expert since the law school he earned his degree from is now unaccredited by the American Bar Association.
                                                            • A clip from Aaron’s exchange with U.S. Rep Mike Flood 
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                                                              1 hr 11 min
                                                            • The Chopping Block: Is BlackRock’s ETF Proposal Breathing Life Into Bitcoin? - Ep. 510

                                                              Welcome to “The Chopping Block” – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest crypto news. With BTC topping $30,000, the gang tackles the apparent surge in institutional bitcoin interest, with BlackRock’s spot ETF application spawning a bumper crop of similar bids. Why did all these TradFi players act at the same time? That, plus a look at the drama surrounding SEC-friendly Prometheum’s Congressional testimony and what Haseeb and Robert see as the trading platform’s many “red flags.”

                                                              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 not-so logical reasons why the markets are up
                                                              • whether GBTC’s ETF conversion will also get approved if BlackRock’s bitcoin ETF gets the SEC go-ahead
                                                              • how all the applications were ready and were “waiting for some sign,” according to Robert
                                                              • whether Grayscale will have to sell the underlying assets of its GBTC trust
                                                              • why a bitcoin spot ETF is more retail-friendly than a bitcoin futures one
                                                              • how plausible it is that London becomes a leading crypto hub
                                                              • the drama around Prometheum’s testimony before Congress
                                                              • the “shady” details of Prometheum’s track record, according to Haseeb
                                                              • why Tarun says that the venture-funded exchanges have “completely failed on many different levels” and what tokens he would list
                                                              • what happened with Curve founder Michael Egorov’s loan on Aave and why Gauntlet, Tarun’s company, advocated freezing the CRV market in the lending protocol
                                                              • why the Aave community rejected the proposal
                                                              • 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
                                                                  • Unchained:
                                                                  • 3AC Founders Launch Venture Capital Firm
                                                                  • Binance.US Briefly Displays Bitcoin Price at $138,000
                                                                  • Invesco and WisdomTree Follow BlackRock, Reapply for Bitcoin ETFs
                                                                  • ​​BlackRock Files for Bitcoin Spot ETF - Coinbase 
                                                                  • WSJ: Crypto Exchange Backed by Citadel Securities, Fidelity, Schwab Starts Operations
                                                                  • Cointelegraph:
                                                                  • Blockchain Assoc. requests info on Prometheum over ‘suspicious’ approval
                                                                  • Aave proposal to freeze alleged Curve founder’s loans draws controversy
                                                                  • CoinDesk: Andreessen Horowitz (a16z) Chooses U.K. as Destination for First Office Outside U.S.
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                                                                    1 hr 2 min
                                                                  • Why It Looks Like BlackRock Could Win America’s First Spot Bitcoin ETF - Ep. 509

                                                                    The SEC has swatted down so many spot bitcoin ETF applications that crypto diehards simply gave up caring. Then comes TradFi giant BlackRock – at the height of the SEC’s crypto crackdown, no less – with an ETF application that has seemingly changed the calculus. Bloomberg Intelligence ETF watcher James Seyffart joins the show to unpack the odds of BlackRock being the first to win approval, and what it would mean for other players in the space chasing down TradFi’s “holy grail.”

                                                                    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:

                                                                    • why the SEC rejected all of the previous bitcoin spot ETF applications
                                                                    • what makes the application from BlackRock, the world’s largest asset manager, different 
                                                                    • what a 19b-4 filing is and how it relates to the BlackRock application
                                                                    • whether BlackRock “knows something,” considering the recent enforcement actions against major crypto exchanges
                                                                    • why being a first mover is a considerable advantage in the ETF market
                                                                    • whether BlackRock choosing Coinbase as a custodian is a risk, given that the SEC is in a legal battle with Coinbase
                                                                    • what’s different about a spot bitcoin ETF, and why a bitcoin futures ETF is not enough 
                                                                    • what are the differences between the applications filed by BlackRock, Invesco, WisdomTree and Valkyrie
                                                                    • which are the applications that are most likely to be approved, according to James
                                                                    • what the impact will be of Grayscale’s lawsuit against the SEC over the denial of its proposal to convert GBTC to an ETF
                                                                    • why James says that Gary Gensler could be thinking like a politician as it relates to spot bitcoin ETFs 
                                                                    • Thank you to our sponsors!
                                                                      • Crypto.com
                                                                      • Copilot Money
                                                                      • ProtonMail
                                                                      • Guest
                                                                        James Seyffart, Research analyst at Bloomberg IntelligenceLinks
                                                                        • Previous coverage of Unchained on the topic:
                                                                        • Grayscale v. SEC: Who Won This Week’s Hearing?
                                                                        • Why Grayscale Is Suing the SEC Over Its Denial of a Bitcoin ETF
                                                                        • $5 Billion in AUM: Why Growth at Grayscale Exploded in the Last Quarter
                                                                        • Bitwise’s Latest Plans to Get a Bitcoin ETF Approved
                                                                        • DCG’s Dilemma: Should It Sell Its GBTC Holdings to Repay Gemini?

                                                                        • The Block: BlackRock ETF launch would put pressure on Grayscale's valuation: Bloomberg analyst
                                                                        • CoinDesk: A Straightforward Explanation for Why Financial Giants Want to Issue a Spot Bitcoin ETF
                                                                        • Unchained:
                                                                        • Invesco and WisdomTree Follow BlackRock, Reapply for Bitcoin ETFs
                                                                        • ​​BlackRock Files for Bitcoin Spot ETF
                                                                        • Valkyrie Applies for Bitcoin Spot ETF ‘BRRR’
                                                                        • Reuters: 
                                                                        • Cboe files with U.S. SEC for third time to list ARK 21Shares Bitcoin ETF
                                                                        • US court questions SEC's rejection of Grayscale's bitcoin fund proposal
                                                                        • Barron’s: ETF: Invesco, WisdomTree Join Push. Why It Might Happen.
                                                                        • Blockworks: BlackRock, then Bitwise — How the spot bitcoin ETF filings differ
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                                                                          51 min

                                                                        About Unchained

                                                                        From the publisher's feed

                                                                        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…