The trial of Sam Bankman-Fried, the founder and former CEO of bankrupt cryptocurrency exchange FTX, is set to begin on October 3. The 31-year-old is accused of committing wire fraud and conspiracy to commit other types of fraud, in relation to the dramatic collapse of his crypto empire last year, which led to billions in losses. Nik De, CoinDesk's managing editor for global policy and regulation, discusses the importance of jury selection, the potential testimony of key witnesses, and how many y...
Sep 29, 2023•38 min•Ep. 549
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 co...
Sep 26, 2023•1 hr 6 min•Ep. 548
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. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podc...
Sep 22, 2023•47 min•Ep. 547
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. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your fav...
Sep 21, 2023•57 min•Ep. 546
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. ...
Sep 19, 2023•1 hr 14 min•Ep. 545
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 pl...
Sep 15, 2023•45 min•Ep. 544
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,...
Sep 12, 2023•1 hr 18 min•Ep. 543
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 Ill...
Sep 08, 2023•38 min•Ep. 542
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. Listen to the...
Sep 07, 2023•53 min•Ep. 541
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 profess...
Sep 05, 2023•58 min•Ep. 540
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 v...
Sep 01, 2023•48 min•Ep. 539
Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, and Tarun Chitra, chop it up about the latest news. This week, the gang goes in depth with Coinbase chief legal officer Paul Grewal to discuss Grayscale’s win in its court case against the SEC, Coinbase’s ongoing dust-up with the SEC, the onerous new crypto reporting regulations proposed by the U.S. Treasury, and the unsettling legal arguments behind the government crackdown on Tornado Cash. Listen to the episode ...
Aug 31, 2023•1 hr 5 min•Ep. 538
Oracles are all about bringing important data (mostly asset prices) onto the blockchain. As such, they’re a key part of decentralized finance. But oracle provider Pyth sees room for improvement as it relates to being more real-time than crypto incumbents like Chainlink. Mike Cahill, the CEO of a brand new Pyth-linked firm called Douro Labs, joins the show to explain the opportunity he sees in building better oracles. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Poc...
Aug 29, 2023•44 min•Ep. 537
On Wednesday, the U.S. Government indicted Tornado Cash developers Roman Storm and Roman Semenov for three counts of conspiracy involving a staggeringly large number: $1 billion in criminal proceeds. The U.S. Department of Justice attached North Korean hackers to a large portion of this sum, alleging that Tornado’s privacy tech enabled nefarious deeds. Amanda Tuminelli, chief legal officer of the DeFi Education Fund, joins the show to assess whether the U.S. Government got it right or is merely ...
Aug 25, 2023•34 min•Ep. 536
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, Coinbase’s Jesse Pollak talks about the ambitious goals of Base, the new Optimism–based blockchain from the publicly traded crypto giant. With the viral success of Base-based Friend.Tech, Jesse discusses the Base team’s ambitious goals to onboard “a million builders, a billion users.” Is this the long-heralded path to scaling Ethereum? L...
Aug 24, 2023•1 hr•Ep. 535
The height of the last bull run was when MakerDAO cofounder Rune Christensen felt most disillusioned by DeFi and DAOs. “I didn’t even see how Maker was going to survive,” Christensen tells Laura Shin in the latest episode of Unchained. Now Christensen is leading an effort to help DAOs escape their trough of disillusionment. He says the ambitious “Endgame Plan” for MakerDAO seeks to overcome “the central issue of voter apathy.” Will it work or are DAOs doomed to fail? Listen to the episode on App...
Aug 22, 2023•1 hr 25 min•Ep. 534
Lawyer Brian Klein joins the show to explain why Sam Bankman-Fried being locked up makes it “much tougher” for his legal team. This week, the judge presiding over the case said SBF went too far in attempting to intimidate key witnesses – chief among them former Alameda Research co-CEO (and ex-flame) Caroline Ellison. Will a jail cell change SBF’s defiant tune ahead of a hotly anticipated October trial date? Klein weighs in. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addi...
Aug 18, 2023•44 min•Ep. 533
Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tarun Chitra, and Robert Leshner chop it up about the latest news. This week, Wintermute CEO Evgeny Gaevoy joins the show to discuss market making when the crypto markets are quiet. Plus, an analysis of Base’s prospects following a surge of early interest. Also: Do you think bank fraud is going to run rampant in the AI era? Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Cast...
Aug 17, 2023•57 min•Ep. 532
Educator Anita Posch has spent months on the ground in Africa onboarding new users into the world of Bitcoin. In the West, bitcoin may seem extraneous; but in her telling, bitcoin in Zimbabwe, Zambia, and other African countries is essential. “Bitcoin can be one of the solutions for people who are disempowered, who are outlawed, the misfits,” says Posch. “Bitcoin is for them because no one can take it away from you.” Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Poc...
Aug 15, 2023•1 hr 4 min•Ep. 531
A major player has entered the stablecoin wars. PayPal went deeper down the crypto rabbithole this week with the launch of its Ethereum-based PYUSD. The dollar-backed stablecoin now puts PayPal in competition with the likes of Tether and Circle for quickly sending value around the world on-chain. José Fernández da Ponte, PayPal’s crypto SVP, joins the show to unpack how the fintech giant is building a long-term strategy around blockchain-based payments. Listen to the episode on Apple Podcasts, S...
Aug 11, 2023•41 min•Ep. 530
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, a quiet conclusion to that Curve thing everyone was animated about. Plus, major developments from Web2 giant PayPal as it continues its journey down the crypto rabbithole. Also, is Maker’s juiced DAI Savings Rate the new Anchor? The gang discusses. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, ...
Aug 10, 2023•55 min•Ep. 529
Worldcoin is getting hit from all sides. Following a popular launch in late July, critics from the crypto community and public sector alike are coming out in droves with concerns about privacy, data protection, and tokenomics. Worldcoin co-founder Alex Blania joins the show to address the recent criticism and reiterate the project’s lofty goals. “It sounds crazy,” he said, “so you really need to understand the technology to understand why it’s not concerning. Listen to the episode on Apple Podca...
Aug 08, 2023•55 min•Ep. 528
While it’s now mostly contained, the Curve crisis has exposed some of the systemic risks in the world of DeFi. Sam Kazemian, founder of Frax Finance, joins the show to discuss what DeFi needs to do to get better – and what builders should learn from a novel attack that was ultimately about much more than $50 million in drained funds. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podc...
Aug 04, 2023•38 min•Ep. 527
Welcome to “The Chopping Block” – where crypto insiders Haseeb Qureshi, Tom Schmidt, and Tarun Chitra chop it up about the latest news. This week, Laurence Day, smart-contract sleuth and co-founder of Wildcat Finance, joins the show to discuss the ramifications of the Curve Finance exploit that has the DeFi world talking. 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 ...
Aug 03, 2023•1 hr•Ep. 526
CoinFund’s Jake Brukhman and Chris Perkins join Unchained to dissect their recent $158 million seed round and the transformation of the investment landscape following the 2022 crypto carnage. As backers of Worldcoin, they confront criticisms about the project's approach of distributing money to individuals who may not fully comprehend the underlying technology. They also delve into why the Coinbase lawsuit could potentially boost the industry, share their perspectives on current crypto legislati...
Aug 01, 2023•1 hr 7 min•Ep. 525
Crypto markets are under the gun from SEC Chairman Gary Gensler’s ‘regulation by enforcement’ policy. Meanwhile, a divided political landscape creates gridlock on Capitol Hill. Democratic Representative Ritchie Torres (NY-15) claims regulators have overstepped their bounds, while generational divide in the Democratic party slows appropriate regulatory legislation from passing. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podc...
Jul 28, 2023•40 min•Ep. 524
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 debate whether infrastructure is being over-invested in, explore the potential of UniswapX and the controversial launch of Worldcoin’s token, and dive into the curious world of hamster racing in crypto. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneI...
Jul 27, 2023•54 min•Ep. 523
Despite the doom and gloom, Placeholder VC partners Chris Burniske and Joel Monegro are highly bullish on the present moment. “We’re all going to look back on this period and remember it as fondly as we remember ‘18 and ‘19,” Monegro tells Laura Shin. The two long-term investors explain why the confluence of macroeconomic factors and crypto-native (and AI) innovations make this the ideal time to invest in a Web3 future. They cut their teeth on Bitcoin, they grew up with Ethereum; hear what they ...
Jul 25, 2023•1 hr 47 min•Ep. 522
If the SEC wants to appeal last week’s judgment in the Ripple case, it better act fast. So says Bill Hughes, regulatory chief at Ethereum booster ConsenSys and one of the many crypto policy pros assessing the ramifications of U.S. district judge Analisa Torres’ decision. The regulatory agency’s decision to appeal hinges on a number of factors, Hughes says, including that this Supreme Court will likely be unkind to SEC Chair Gary Gensler’s interpretation of how to regulate crypto. But of course, ...
Jul 21, 2023•43 min•Ep. 521
XRP isn’t itself a security; it depends on how it’s sold. So said a federal judge last Thursday in the SEC vs. Ripple case and the implications are significant. Jake Chervinsky, chief policy officer at the Blockchain Association, and lawyer Kayvan Sadeghi, partner at Jenner & Block, join the show to discuss two major ramifications. One: U.S. District Judge Analisa Torres dealt a major blow to the legal theory underpinning the SEC’s case against Coinbase. Two: This order really “lights a fire” un...
Jul 18, 2023•1 hr 12 min•Ep. 520
