Today, we’ve got two very different stories in one episode. First, Steven Goldfeder, co-founder of Offchain Labs, joins Unchained to explain why Robinhood is rebuilding its product on the Arbitrum tech stack, what it says about crypto’s evolution, and how this could finally bridge Web2 and Web3. Then, Calvin Hamilton breaks down the bizarre $59 million bet on whether President Zelensky wore a suit — and why vague rules, a fateful tweet, and one protocol’s vote could damage Polymarket’s reputatio...
Jul 04, 2025•1 hr 14 min•Ep. 863
Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest in crypto. This week, we’re joined by Jon Charbonneau and Ryan Watkins to unpack the bombshell news of Robinhood Chain—an Arbitrum-based network debuting tokenized U.S. stocks, 3× crypto perps, and that head-scratching $500 K liquidity cap. From riffing on whether proof-of-stake yields are just “money in a box,” to debating Solana’s first U.S. staked ETF...
Jul 03, 2025•1 hr 12 min•Ep. 862
Crypto is bleeding into traditional finance faster than anyone expected. In this episode of Bits + Bips, the hosts dig into Robinhood’s move into tokenized stocks and perps, what’s actually holding back tokenized equities, and why perps might “eat the world.” Plus, they talk crypto ETFs, altcoin summer, and whether staking in ETFs is the next big unlock. Sponsors: Bitwise Hosts: James Seyffart, Research Analyst at Bloomberg Intelligence Ram Ahluwalia, CFA, CEO and Founder of Lumida Noelle Acheso...
Jul 02, 2025•1 hr 16 min•Ep. 861
Fill out our short Unchained survey and earn a chance to win a FREE one-year subscription to Bits + Bips Premium 😏 ------------------------------------------------- Lido just rolled out one of the most ambitious governance overhauls in DeFi: a dual governance system designed to give power back to stakers—and make it harder for malicious proposals to pass. But what does it actually do? And could it make Lido the safest place to stake ETH? Hasu, a strategic advisor at Lido, and Lido co-founder Va...
Jul 01, 2025•58 min•Ep. 860
Win a free one-year subscription to Bits + Bips Premium by completing our survey! The state of Texas just passed a law that creates a $10 million strategic Bitcoin reserve. Laura talks to Lee Bratcher, president of the Texas Blockchain Council, who helped drive this new law. He explains how bipartisan support made it possible, why this might be the start of a broader trend, and what’s next for public Bitcoin ownership in the U.S. We get into: The logic behind the $10 million number Why custody a...
Jun 27, 2025•56 min•Ep. 859
Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest in crypto. This week, we’re joined by Vlad, the leverage legend behind Lighter, a zk-powered DEX taking aim at Hyperliquid in the rising CLOB wars. We unpack the new Token Transparency Framework from Blockworks and whether self-regulation can fix crypto’s disclosure problem. Should VC wallets be public? Are market-making deals legally risky? And why do m...
Jun 26, 2025•52 min•Ep. 858
As tensions flare between Iran and Israel, investors are watching oil, gold, and, of course, crypto. In this episode of Bits + Bips, the panel digs into the market response to war risk, the chances the Fed will actually cut rates, and how Circle’s IPO is being treated more like a meme stock than a fintech play. Plus: Why Scaramucci says we’re all living in a surveillance state Whether stablecoins are being kneecapped by U.S. regulation When altcoin ETFs are coming And what BlackRock’s Larry Fink...
Jun 25, 2025•1 hr 5 min•Ep. 857
Take the Unchained 2025 survey! unchainedcrypto.com/survey ------- Cross-border payments. Mobile money. Stablecoins. Crypto. Elizabeth Rossiello has lived through every cycle, not from a trading desk, but the front lines of African markets. Now, the founder of AZA Finance is selling her company to global fintech giant dLocal, a signal that the line between crypto and traditional finance is blurring fast. In this episode, she talks about: How stablecoins are powering 24/7 commerce in emerging mar...
Jun 24, 2025•1 hr 19 min•Ep. 856
On Tuesday, JPMorgan announced that its blockchain unit is launching JPMD, a USD deposit token for institutional clients, on Base. That’s right: the world’s biggest bank by assets and the 12th largest company by market cap is putting real dollars onchain. JPMD isn’t quite a stablecoin, but it’s close. It represents actual dollar deposits at JPMorgan and will be used by institutional clients for blockchain-based transactions. The bank plans to run a pilot over the coming months and eventually exp...
Jun 20, 2025•45 min•Ep. 855
Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest in crypto. This week, we’re joined by Hyperliquid founder Jeff Yan, the quiet powerhouse behind DeFi’s fastest-growing exchange. With 75% of onchain perp volume, no VC money, and a $1B airdrop, Hyperliquid is rewriting what crypto protocols can be. We dive into Jeff’s minimalist strategy, the cancel wars with toxic flow, and the JellyJelly controversy th...
Jun 20, 2025•1 hr 8 min•Ep. 854
In this week’s episode of Bits + Bips, the panel digs into why Tron’s rumored IPO is more than a headline, what Wall Street’s quiet shift into stablecoins signals, and how exchanges are racing to control token flow, even as regulation hangs in the balance. They also explore: What the Israel–Iran conflict means for global markets, oil prices, and crypto positioning Whether banks can adopt stablecoins without threatening their own deposits If regulatory clarity will come fast enough to shape the n...
Jun 18, 2025•1 hr 9 min•Ep. 853
Hyperliquid is one of the most talked-about platforms in crypto right now. It’s an onchain perpetuals exchange that sidestepped VCs, built a deeply loyal user base, and launched with transparency most rivals avoid. But it’s also staring down some massive challenges—from incoming competitors like Coinbase and Robinhood, to the technical hurdles of decentralizing its core exchange engine. Arthur Hayes, CIO of Maelstrom and one of crypto’s most iconic traders, and Hanson Birringer of Flowdesk discu...
Jun 17, 2025•1 hr 21 min•Ep. 852
Stablecoins are having a moment. From Stripe’s acquisition of crypto wallet startup Privy, to Shopify integrating USDC, to Plasma raising $500 million for its stablecoin-optimized sidechain, stablecoins are having a moment. And at the center of it all is Circle, which had one of the most successful IPOs in decades. But what’s really happening under the surface? And who’s best positioned as stablecoins go mainstream? Vicky Fu, co-founder at Yala and former engineering director at Circle, joins Un...
Jun 13, 2025•48 min•Ep. 851
Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest in crypto. This week, we’re joined by a special guest: Laura Shin, host of Unchained! The crew unpacks Circle’s explosive IPO, Tether’s threat to exit the U.S., and the meme-stock logic powering the rise of “crypto treasury companies.” From Coinbase’s grip on USDC to Wall Street’s sudden enthusiasm for stablecoins, we explore how public markets are resha...
Jun 12, 2025•56 min•Ep. 850
This week on Bits + Bips, the panel tackles the biggest themes driving crypto: Circle’s triumphant IPO, ETH’s institutional tailwinds, and the fast-shrinking Bitcoin supply on exchanges. Plus, what Gemini’s IPO ambitions tell us about the state of exchanges, and whether Ram’s call for a BTC breakout is about to hit. Also on the docket: Is Circle really worth its sky-high valuation? Why exchange fees are stuck in the 1970s ETH: the quiet trade that might be heating up Oh, and yes, they talk about...
Jun 11, 2025•1 hr 8 min•Ep. 849
In part 2 of Jeff Park’s interview with Unchained, he describes ways that both everyday investors and the U.S. government can use various crypto assets to come out on top as old models and strategies become outdated. He reveals the three personal stories that led him to develop his radical portfolio theory, puts himself in the shoes of Treasury Secretary Scott Bessent, and explains why Japan is the linchpin in the transition to this new world order. In this episode, we explore: Why Jeff believes...
Jun 10, 2025•1 hr 10 min•Ep. 848
On Tuesday, a pseudonymous X account claimed that Pump.fun, Solana’s breakout memecoin launchpad, would raise $1 billion via an ICO at a $4 billion valuation. The potential deal? Multiple CEX listings, a 10% community airdrop, and maybe even a launch by the end of the month. The community reaction? Not great. In this episode, Syncracy Capital’s Ryan Watkins joins to break down the backlash, whether the raise makes sense, and what this kind of fundraising says about the current state of crypto. H...
Jun 06, 2025•57 min•Ep. 847
Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest in crypto. In this episode, the crew tackles a triple-header of crypto’s growing pains: the bizarre saga of James Wynn—a memecoin gambler whose billion-dollar positions on Hyperliquid ended in public ruin; the Ethereum Foundation’s surprise rebrand into “Protocol” and its sudden embrace of hierarchy; and a bold manifesto from Miles Jennings calling for t...
Jun 05, 2025•1 hr 3 min•Ep. 846
The Bitcoin Conference in Vegas is getting more political. Crypto treasury companies are exploding across the globe. And macro markets are flashing mixed signals, with geopolitics entering the chat. In this episode of Bits + Bips, the panel dives into: Key takeaways from Bitcoin 2025 The possible bubble forming around Bitcoin treasuries How the SEC is fighting back against staking in ETFs Whether Ethereum is finally catching up How Ukraine just redefined trade risks Why ETFs have seen so much in...
Jun 04, 2025•1 hr 21 min•Ep. 845
Jeff Park thinks the most popular investing strategy of the last decades — the 60/40 portfolio — is dead. Jeff has spent his early career inside the traditional system. But now, after two years in finance, he’s calling for a full rethink of the modern portfolio: from what counts as “safe” to how inflation actually works to why Bitcoin may be the real anchor asset in a world that’s spinning off its axis. In this episode, the first in a two-part series, he and Laura dig into: Why the 60/40 portfol...
Jun 03, 2025•1 hr 24 min•Ep. 844
Public crypto treasury companies are in the news right now. Just this week, Sharplink Gaming announced a $425 million raise to create an Ethereum treasury vehicle, backed by Consensys. Meanwhile, Trump Media said it will buy $2.5 billion worth of bitcoin. And in a headline grab, GameStop revealed a $500 million Bitcoin purchase. There’s even a newly launched XRP treasury company backed by Saudi royal capital. But why are these vehicles suddenly the structure of choice for accessing crypto exposu...
May 30, 2025•42 min•Ep. 843
Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest in crypto. In this episode, the gang reunites to confront a troubling pattern: we’re making the same mistakes all over again. From the $223 million Sui hack and validator-led censorship to Coinbase’s insider data breach and the Trump token dinner spectacle, this week feels like a remix of the industry’s most painful lessons. The crew reflects on how dece...
May 29, 2025•53 min•Ep. 842
A debate has been heating up on crypto Twitter about Real Economic Value (REV) — a metric meant to measure the value blockchains accrue from user activity. REV includes transaction fees and MEV tips, but excludes issuance — the inflationary rewards paid to validators. Some say it’s the clearest window into genuine usage. Others argue it’s a flawed and misleading proxy. So we brought the argument to Unchained. Tom Dunleavy, Head of Venture at Varys Capital, says fees are headed to zero, and block...
May 27, 2025•1 hr 22 min•Ep. 841
Yield-bearing stablecoins have had decent growth, now topping $6 billion in supply and paying out nearly $600 million to users, according to data from Stablewatch. But just as these products go mainstream, the U.S. Senate is moving forward with a stablecoin bill that could ban them outright in America. In this episode, NYU professor and Zero Knowledge Consulting founder Austin Campbell joins Laura to break down: Why yield-bearing stablecoins are under fire in Washington Why Dems are pushing for ...
May 23, 2025•46 min•Ep. 840
U.S. credit got downgraded. Fed policy expectations are flipping. And Coinbase hit the S&P 500 (while also being extorted). But what does all of this mean for crypto? On this week’s Bits + Bips, James Seyffart, Alex Kruger, Ram Ahluwalia, and Noelle Acheson break down: Why the Moody’s downgrade doesn’t mean much for markets Whether Fed rate cuts are now further off than expected Why Alex says Coinbase is a “horrible product” despite S&P inclusion How stablecoins tie into U.S. geopolitica...
May 21, 2025•1 hr 22 min•Ep. 839
Legacy social media platforms lock you in, control your audience, and exploit your data. Farcaster aims to fix those problems. But how can it attract developers and users in an already saturated media environment? Developer Ecosystem Lead Linda Xie joined the show to explain: How Farcaster addresses social media’s structural flaws How Farcaster’s mini-app ecosystem is helping to grow the user base The most popular apps taking off on the platform How the whole crypto community could benefit from ...
May 20, 2025•1 hr•Ep. 838
Coinbase revealed on Thursday that cybercriminals bribed overseas customer support contractors to steal sensitive customer data as part of a $20 million extortion scheme. While no funds or private keys were compromised, customer names, addresses, and ID documents were exposed for nearly 1% of the company’s 8+ million “monthly transacting users,” according to a blog post. The story raises tough questions for the entire industry. Is KYC making users more vulnerable? Can human error ever be fully e...
May 16, 2025•47 min•Ep. 837
Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Robert Leshner, and Tarun Chitra break down the biggest stories in crypto. This week, we’re joined by one of the most iconic anons on Crypto Twitter: Mosi, aka @vanacharma. Known for calling out sketchy tokenomics and vaporware valuations, Mosi joins the crew for a ruthless teardown of market maker games, OTC dumps, and the “hallucination yield” driving this cycle’s worst bets. From the $60M Movement Labs fiasco t...
May 15, 2025•57 min•Ep. 836
After the U.S. and China announced a 90-day pause on tariffs, signaling a massive de-escalation of the trade wars, markets rallied. In this week’s Bits + Bips, the panel covers the biggest macro and crypto forces in motion right now: Will US-China tariff reset reshape the global economy, or just kick the can down the road? America’s ballooning deficit and why politicians are spending like it’s wartime. Why some think ETH has a unique lane to outperform. How policymakers ignore the power of the c...
May 14, 2025•1 hr 13 min•Ep. 835
The Movement Labs scandal exposed more than just one bad deal – it pulled back the curtain on a widespread problem in crypto: how some market makers, founders, and VCs play games to make money — whether the project succeeds or not. In this episode, Laura speaks with José Macedo of Delphi Labs, Omar Shakeeb of SecondLane, and Taran Sabharwal of STIX to explain: How market makers are supposed to work, and how they operate in crypto Why insider selling is more common than you think How projects lik...
May 13, 2025•1 hr 17 min•Ep. 834
