Episode description
Welcome to The Chopping Block – in person at Consensus in Austin! Crypto insiders Haseeb Qureshi, Robert Leshner, and Tarun Chitra are joined by guest Kyle Samani of Multicoin Capital to chop it up about the latest news in the digital asset industry. Show topics:
why Kyle believes people are too negative about the macro environment
how the only crypto product with product-market fit is parties
what soulbound NFTs are, and what their pitfalls might be
why Kyle and Robert have a beef between them
why Kyle has a lot of run-ins with other people in crypto
how Kyle thinks about Solana’s 12 instances of downtime over the last six months
how this has caused problems for SOL held in cold storage
how Kyle and Robert think projects need to make tradeoffs between stability and adaptability
why Kyle thinks every layer 1 and 2 will have a major failure over the next several years
how Kyle thinks EVM chains are value-destructive
how Tarun thinks zk L2s might be better aligned with the Ethereum ethos
how Optimism’s market-making partner Wintermute was hacked for $20 million in OP
why the hacker returned most of the money
how programming language centralization makes sense
how the Lummis-Gillibrand bill is a good opening salvo with respect to crypto regulation
why they believe that being paid for staking is not the same as being paid a dividend
how disclosure requirements could be onerous for small new projects
how they think the crypto industry is moving up the learning curve for lobbying
why they believe the Lummis/Gillibrand bill will be changed to target stablecoins and DeFi more
EPISODE LINK
Hosts
Haseeb Qureshi, managing partner at Dragonfly Capital
https://twitter.com/hosseeb
Robert Leshner, founder of Compound
https://twitter.com/rleshner
Tarun Chitra, managing partner at Robot Ventures
https://twitter.com/tarunchitra
Guest
Kyle Samani, cofounder and managing partner of Multicoin Capital
https://twitter.com/KyleSamani?s=20&t=DN1G0CNY7JR11OoXOAFD2g
Show Topics
Wintermute Compromise
Optimism Foundation statement:
https://plaid-cement-e44.notion.site/A-Message-to-the-Community-from-the-Optimism-Foundation-f49b913bb0974d8a854a8bdd409a9dd6
Wintermute statement:
https://gov.optimism.io/t/message-to-optimism-community-from-wintermute/2595
https://www.coindesk.com/tech/2022/06/09/15m-of-optimism-tokens-stolen-by-an-attacker-after-wintermute-sent-wrong-wallet-address/#:~:text=Optimism%20is%20a%20permissionless%20network%20and%20behaved%20as%20intended.&text=Wintermute%2C%20for%20its%20part%2C%20says,make%20the%20protocol%20whole%20eventually.%E2%80%9D
Osmosis Hack
https://www.theblockcrypto.com/post/150752/osmosis-dex-on-cosmos-exploited-for-5-million-as-validators-halt-the-network
https://twitter.com/stake_fire/status/1534598315441913856?s=20&t=VvGyUlOjGSlhXXUwZvKszw
Litecoin Delisting
https://decrypt.co/102350/crypto-exchanges-delist-litecoin-privacy-feature-concerns
Solana outage re: durable transactions (12 serious outages this year, about 2 a month)
https://www.theblockcrypto.com/linked/149698/solana-blockchain-suffers-new-network-outage
https://solana.com/news/06-01-22-solana-mainnet-beta-outage-report-2
Unchained episode with Andre Cronje about Solana’s downtime: https://unchainedpodcast.com/the-chopping-block-did-andre-cronje-pull-an-epic-crypto-rug-pull/
Cynthia Lummis & Kirsten Gillibrand presents landmark crypto bill
Coindesk Coverage:
https://www.coindesk.com/policy/2022/06/07/key-us-senators-introduce-bill-outlining-sweeping-plan-for-future-crypto-rules/
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