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Unchained

Unchained
Author: Laura Shin
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© Copyright 2020 Laura Shin. All Rights Reserved.
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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 Shin, an independent journalist covering all things crypto, talks with industry pioneers about how crypto assets and blockchains will change the way we earn, spend and invest our money. Tune in to find out how Web 3.0, the decentralized web, will revolutionize our world. Disclosure: I'm a nocoiner.
463 Episodes
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Welcome to “The Chopping Block!” – where crypto insiders Haseeb Qureshi, Robert Leshner, Tom Schmidt, and Tarun Chitra chop it up about the latest news. This week, they cover:
why Bitcoin maximalists are mad about Bitcoin NFTs
why Robert thinks Bitcoin is not a good blockchain on which to build things
why Canto, a layer 1 blockchain, surged in price and activity and why Haseeb is anti-Canto
how Ethereum will have multi-dimensional fee structures
what the role of applications in generalized blockchains should be and why they think they shouldn't be enforced at the base layer
the accusations against the LayerZero team and their response
the battle to provide the bridging services to Uniswap
Hosts
Haseeb Qureshi, managing partner at Dragonfly Capital
Tarun Chitra, managing partner at Robot Ventures
Robert Leshner, founder of Compound
Tom Schmidt, general partner at Dragonfly Capital
Links
Disclosures
Bitcoin NFTs:
The Block: What are Bitcoin NFTs Ordinals and how do they work?
BTC: Core On-chain - Glassnode Studio
Bitcoin - The Overview
Ordinals
Canto:
The Block: Layer 1 blockchain Canto sees surge in trading activity
Canto - Lending
LayerZero controversy:
James Prestwich’s tweet
Bryan Pellegrino’s response
Explanation of the situation by Bartek
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Following the release of Celsius' examiner report, Kadhim Shubber, an investigative reporter at The Financial Times, dives into the controversial business practices of the lender, how the company inflated the CEL token, the use of customers' money, and much more.
Show highlights:
how Celsius used investors’ money to prop up the price of CEL
the reasons why Celsius inflated the CEL token
where the money to pay rewards to investors came from
blatant misstatements from Alex Mashinsky and how his team tried to cover him
how the company leveraged Bitcoin to fill the hole in its balance sheet
who was responsible for Celsius' shady business practices
Celsius' poor investment decisions
whether Mashinsky is at risk of facing criminal charges
Thank you to our sponsors!
Crypto.com
Guest
Kadhim:
Twitter
Links
Final report of Shoba Pillay, examiner
Financial Times: Crypto lender Celsius misused customer funds for years, examiner finds
Unchained: 7 Revelations From Celsius’ Examiner Report
CoinDesk: Celsius Used New Customer Funds to Pay for Withdrawals: Independent Examiner
The Block: Tether denies it borrowed $2B from Celsius, as described in court report
Blockchain News: Celsius' Official Creditor Committee Denies Rejected Bids
Ram Ahluwalia’s take on the Celsius bankruptcy examiner report
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Sheila Warren, CEO of the Crypto Council for Innovation, and Miller Whitehouse-Levine, Policy Director of the DeFi Education Fund, offer insider takes on how lawmakers and regulators are viewing crypto after FTX’s catastrophic failure. Both expect heightened activity in the U.S. from what they’re calling the “Crypto Congress.” Will this be the year for stablecoin regulation? Is DeFi still in the crosshairs? What about Ripple’s fight with the SEC? The two crypto policy experts look to the U.S. and beyond for what regulatory battles lie ahead in 2023.
Show highlights:
why the current environment in Washington makes it difficult to pass new legislation
whether the opinion of members of Congress on crypto has changed in the aftermath of FTX’s alleged fraud
how Elizabeth Warren and others are using the FTX collapse to prove their anti-crypto stance
whether it’s possible to prevent a fallout like FTX from ever happening again
why Miller believes that this year Congress will be “absolutely obsessed” with crypto
what stablecoin legislation would look like, and why stablecoins are more likely to be regulated sooner
why Sheila thinks Ripple could win its case against the SEC
why they believe the SEC’s failure to approve a spot Bitcoin ETF is a logical inconsistency
why they think it’s not possible to apply TradFi rules to DeFi technology
how more policymaker education needs to be done
how OFAC sanctioning Tornado Cash sparked many conversations among researchers and policymakers
the role of the government in preserving national security
how MiCA took an appropriately slow approach to imposing DeFi regulations
the impact of China and India adopting digital currencies
why Miller thinks China’s digital yuan is “the apotheosis of a totalitarian technology”
Thank you to our sponsors!
Crypto.com
FTSE
Links
Previous coverage of Unchained on crypto legislation:
Why Bitcoin Now: Michael Casey and Niall Ferguson on How Bitcoin Fits in the History of Money
Kristin Smith on Why Crypto Legislation Could Be Passed by Year's End
Why Senator Pat Toomey Thinks SEC Chair Gary Gensler Is Wrong About Crypto
Guests:
Sheila:
Twitter
Miller:
LinkedIn
FTX
CoinDesk:
After FTX: How Congress Is Gearing Up to Regulate Crypto
Congress' FTX Problem: 1 in 3 Members Got Cash From Crypto Exchange's Bosses
After FTX: How Congress Is Gearing Up to Regulate Crypto
CNBC: House Republicans move to regulate crypto industry with a new subcommittee
MiCA
CoinDesk:
Analyzing What's Next for Europe's Markets in Crypto Assets Law
EU’s MiCA Crypto Law Would Have Stopped FTX's Malpractice, Officials Say
Others
Project Hamilton - Building a Hypothetical Central Bank Digital Currency
U.S. Treasury Sanctions Notorious Virtual Currency Mixer Tornado Cash
Tornado Cash is no “golem.” It’s a tool for privacy and free speech. - Coin Center
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Welcome to “The Chopping Block!” – where crypto insiders Haseeb Qureshi, Tom Schmidt, and Tarun Chitra chop it up about the latest news. This week, Flashbots co-founder Phil Daian joins the show to go deep on what maximal extractable value (MEV) means and how it’s shaping the Ethereum ecosystem.
Show highlights:
how Phil started working in MEV and why he believes it resembles 'Alice in Wonderland'
Phil's definition of MEV and when he realized this was an actual problem
how Flashbots was born
the story of how Vitalik didn't care about sandwich attacks at the time Uniswap was released
whether it's possible to minimize MEV via more competition
the never-ending debate about whether MEV should be accepted
why Tarun thinks the concept of fair ordering is against nature
how Bitcoin uses social norms to solve its weaknesses
how Google is being called out in court for creating auction to front run its customers
how Flashbots worked prior to and after Ethereum's Merge
why Flashbots complies with OFAC sanctions
what is the Suave project and how it aims to decentralize Flashbots
what the future of MEV looks like
Hosts
Haseeb Qureshi, managing partner at Dragonfly Capital
Tarun Chitra, managing partner at Robot Ventures
Tom Schmidt, general partner at Dragonfly Capital
Guest:
Phil:
Twitter
Disclosures
Links
The Block: Flashbots seeks up to $50 million at a billion-dollar valuation
CoinDesk: Opinion: Miners, Front-Running-as-a-Service Is Theft
CNN: DOJ sues Google over its dominance in online advertising market
Unchained: 51% of Ethereum Blocks Are OFAC Censored
Given the Sanctions on Tornado Cash, Is Ethereum Censorship Resistant? - Ep. 390
The Cost of Decentralization in 0x and EtherDelta
Previous coverage of Unchained on MEV:
Why Is Ethereum Trying to Maximize Value From Users? Two Sides Debate
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Michael Sonnenshein, CEO of Grayscale Investments, gives an overview of his firm’s case against the SEC, which has denied requests to turn Grayscale’s bitcoin trust into an exchange-traded fund (ETF). With oral arguments kicking off March 7, Sonnenshein lays out what a worst-case “tender offer” would entail and whether DCG CEO Barry Silbert has any say over GBTC’s fate.
Show highlights:
why Grayscale charges higher fees than, say, the average ETF
what Grayscale will do if it loses its case against the SEC
why Grayscale has not filed for Regulation M relief
Michael's comments on Gemini liquidating 31 million shares of GBTC
the reason behind the October 2022 timing of Grayscale changing GBTC's “authorized participant”
the relationship between Grayscale and DCG, and Barry Silbert's involvement in Grayscale's operations
why the trust agreement of GBTC was changed
Thank you to our sponsors!
Crypto.com
Guest
Michael Sonnenshein:
Twitter
Links
CNBC: Court sets date for oral arguments in Grayscale's challenge of SEC's bitcoin ETF decision
Reuters:
Grayscale would appeal lawsuit against SEC if court rejects case, CEO says
Ruling in Grayscale-U.S. SEC lawsuit likely within a year
MarketWatch: Grayscale may ‘ultimately’ consider tender offer for bitcoin trust, CEO says
CoinTelegraph: Grayscale terminates Bitcoin trust material agreements with Genesis
CoinDesk: Grayscale Slams SEC's 'Unreasonable' Barring of Spot Bitcoin ETFs
Bloomberg: Hedge Fund Sues Grayscale for Data on Battered Bitcoin Trust
Bitcoinist: Here's What A Reg M Will Entail For Genesis, DCG And Bitcoin
Why Investment Experts Say a Spot Bitcoin ETF Would Be Superior to Bitcoin Futures ETFs by Laura Shin
Andrew Parish’s tweet on the possibility of the case going to the Supreme Court
Grayscale’s End of Year CEO Letter to Investors
Ycharts: GBTC Discount or Premium to NAV
Previous coverage of Unchained on GBTC:
Bitwise's Latest Plans to Get a Bitcoin ETF Approved
DCG's Dilemma: Should It Sell Its GBTC Holdings to Repay Gemini?
Gemini vs. DCG Is Heating Up. Could Gemini Force Genesis Into Bankruptcy?
‘The Last Big Whale’: Why the Crypto Contagion of 2022 Eventually Hit Genesis
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Welcome to “The Chopping Block!” – where crypto insiders Haseeb Qureshi, Robert Leshner, Tom Schmidt, and Tarun Chitra chop it up about the latest news. This week, they covered:
why the markets were up so much recently
how and why Genesis entered into bankruptcy
why the hole in DCG's financials are potentially much bigger than previously reported
the differences between the bankruptcies of FTX and Genesis
whether 3AC founders Su Zhu and Kyle Davies will find success with their new exchange
what will happen to GTBC now that a huge portion has already been liquidated
whether Tarun is predicting "the start of a new supercycle"
the large percentage of vested SOL held by the FTX estate
how SBF is still trying to win the public
Hosts
Haseeb Qureshi, managing partner at Dragonfly Capital
Tarun Chitra, managing partner at Robot Ventures
Robert Leshner, founder of Compound
Tom Schmidt, general partner at Dragonfly Capital
Links
Disclosures
Genesis:
Bloomberg: FTX Bankruptcy Judge Backs Company Law Firm, Rejects Last Minute ‘Rumors’
CoinDesk:
Crypto Lender Genesis Global Capital Is FTX's Largest Unsecured Creditor
Crypto Trading Firm Cumberland DRW Disputes Genesis Exposure
CNBC:
Crypto firms Genesis and Gemini charged by SEC with selling unregistered securities
Crypto publication CoinDesk hires Lazard to explore sale as crisis deepens at parent company DCG
Unchained:
Is Genesis’s Prepackaged Bankruptcy The Ultimate Sacrifice?
Gemini Ends Its Earn Program and Calls for Barry Silbert’s Ouster
DCG Under Investigation by DOJ and SEC: Report
Genesis CEO Says Firm Needs More Time to Find a Solution
FTX:
Unchained:
SBF Says Excel Spreadsheet Proves FTX US Is Solvent
WSJ: New FTX Chief Says Crypto Exchange Could Restart
The Block: FTX debtors identify $5.5 billion of liquid assets in ’Herculean effort’
3AC/GTX:
Unchained: 3AC Founders Are Raising $25M for ‘GTX’
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James Block, crypto skeptic and author of the Dirty Bubble Media newsletter, rose to prominence with a timely post predicting FTX’s insolvency. The blogger, a doctor by day, explains why he sees crypto as an unregulated morass of would-be securities and outright “Ponzi schemes.” From an early interest in Tether to connecting the dots on Celsius, Block explains why he does what he does and why almost all of crypto is just “regulatory arbitrage.”
Show highlights:
how James got into crypto and why he started writing about the space
why James chose "Dirty Bubble Media" for the name of his publication
the problems with the legitimacy of crypto projects
the reasons to be bearish on Coinbase
why the question of whether Bitcoin has intrinsic value is highly subjective
whether every token in crypto is a scam and whether regulations will hit stablecoin issuers hard
how FTX used tokens to create fictitious value worth billions of dollars
why Celsius and FTX were closely linked, and the difference between both cases
ties James found between FTX's European subsidiary and a company doing binary options, an industry characterized by fraud
how he believes financial fraud is similar throughout history — it doesn't repeat, but it rhymes
James’s concerns around Signature Bank and its "questionable tactics"
why Genesis and DCG got into trouble and how James thinks the situation will likely play out
whether exchange tokens are securities and why he believes they have very little value
why he says BNB resembles OneCoin's pyramid scheme
James's contrarian take on the Avi Eisenberg case
Thank you to our sponsors!
Crypto.com
DeFi Saver
Links
Guests:
James Block:
Twitter
Substack
FTX:
Dirty Bubble Media:
Is Alameda Research Insolvent?
FTX'ed: The Tangled Ties Of Celsius Network and Sam Bankman-Fried
FTX's European subsidiary was built on top of a binary options scam
A forgotten banking scandal suggests FTX is the tip of the crypto iceberg
DCG
Dirty Bubble Media: Digital Currency Grift
Unchained: SEC Charges Gemini and Genesis With Sale of Unregistered Securities
Binance
Dirty Bubble Media: The Binance Scam Chain
Signature
Bloomberg: Binance Says Signature Sets Transaction Minimum Amid Pullback
Mango Markets
The Ballad of Risk-Free Avi - Dirty Bubble Media
Unchained:
Mango Markets Exploiter Arrested on Market Manipulation Charges
Solana’s Mango Markets Sees $100M Drained in DeFi Exploit
Celsius
Dirty Bubble Media: Anatomy of a (fake) Market
Unchained: NYAG Sues Celsius’s Alex Mashinsky for Defrauding Investors
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Maria Shen, partner at Electric Capital, unpacks the venture firm’s latest Developer Report. Hotly anticipated among crypto observers, the annual report captures which chains developers are building on. Despite 2022’s price carnage, the report finds developer interest remains strong. Ethereum is the leading chain by far but EVM-compatibility is emerging as a major force in winning developers’ hearts and minds. Shen unpacks Bitcoin’s stability, Terra’s implosion, and many more insights from crypto’s open-source code repos.
Show highlights:
why the report "undercounts" developers and how it defines active developers
how developers represent a fundamental measure of the health of emerging technologies like crypto
the meaning of developer numbers going up even when prices plummet
why in recent years the speed of developer growth jumped so drastically
what happened after the number of developers reached an all-time high in June 2022
the role of Terra in the decline of developer activity in 2022’s second half
why Ethereum dominates the ecosystem and whether it will continue to be the leader
the benefits of being part of “the EVM universe”
why the number of Bitcoin developers has remained flat over the last year
whether looking at the number of developers in the NFT ecosystem is even relevant
Thank you to our sponsors!
Crypto.com
Guest
Maria Shen:
Twitter
Electric Capital Developer Report
Full report
Maria’s 2022 thread
2021 report
2020 report
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From 3AC to FTX (and possibly more to come), it’s boom times for those trading crypto bankruptcy claims. Thomas Braziel, founder and CEO of 507 Capital, gives a crash course on bankruptcy law, offering the latest updates on the FTX, Celsius, and Three Arrows Capital cases. Plus, insight on how 2023 could finally be the year Mt. Gox creditors get (some) closure.
Show highlights:
how Tom got into crypto with the Mt. Gox bankruptcy and whether "crypto distressed" is an emerging asset class
how buying bankruptcy claims is also a way to buy crypto assets at a discount
how to determine how much value creditors are owed in a crypto bankruptcy
what the marketplaces for buying and selling claims are like
whether it's possible to tokenize bankruptcy claims
whether crypto tokens should be treated as property
what is likely to happen when Mt. Gox creditors are returned their BTC
the importance of Celsius' separation of custodial assets vs. assets in interest-bearing accounts
the likelihood of Celsius being acquired
why the fact that FTX recovered $5 billion in assets is "amazing"
why so many stakeholders disputed the ownership of the $450 million in Robinhood shares
why there's so much difference in the prices of FTX, Voyager, BlockFi and Celsius claims
whether the customer list of FTX should be kept private
what type of creditors are Gemini Earn customers
Thank you to our sponsors!
Crypto.com
DeFi Saver
Links
Guests:
Thomas:
Twitter
507 Capital
Previous appearances on Unchained:
Will FTX Customers Ever Recover Their Assets? Two Insolvency Experts Weigh In
Will Celsius Survive the Bankruptcy Process?
Episode Links:
Celsius
Reuters:
U.S. judge says Celsius Network owns most customer crypto deposits
Celsius bankruptcy judge orders return of some crypto assets to customers
Bloomberg: Bankrupt Crypto Lender Celsius Receives Multiple Bids for Retail and Mining Assets
FTX
Unchained:
DOJ Seizes $450M in Robinhood Shares from FTX
Bankrupt FTX Recovers Over $5B Worth of Assets: Report
CoinDesk:
FTX Creditor Claims Going for 13 Cents on the Dollar on Bankruptcy Marketplace Xclaim
After Bankruptcy, FTX User Claims Pay Cents on the Dollar
Fortune: Sam Bankman-Fried's lawyers just filed a claim to keep his $450 million in Robinhood shares
Reuters: U.S. Trustee files objection to FTX's planned asset sales
Thomas Braziel’s prediction on the FTX claims
Connor Grogan’s take on the $5 billion in assets
DCG/Gemini:
Unchained: Gemini Ends Its Earn Program and Calls for Barry Silbert’s Ouster
3AC
Kyle Davies’ comments
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Welcome to “The Chopping Block!” – where crypto insiders Haseeb Qureshi, Robert Leshner, Tom Schmidt, and Tarun Chitra chop it up about the latest news.
Show topics:
Haseeb’s TL;DR of the ongoing situation between DCG, Genesis and Gemini
whether DCG committed fraud because of a misrepresentation of its financials
why DCG did Genesis a favor by absorbing the losses from exposure to Three Arrows Capital
what's required to force an entity into bankruptcy
why Cameron Winklevoss would request Barry Silbert to step down as DCG CEO
the SEC’s probe into the investors of FTX and whether the regulators will fine them
whether there will be on-chain assets for trading FTX bankruptcy claims
what Tarun thinks of the future of NFTs and what needs to be built for them to thrive
why Robert thinks most NFTs are “hot garbage”
what the value behind NFTs is and whether they need a utility
whether the massive layoffs are good for the industry and how many companies over-hired during the bull market
Hosts
Haseeb Qureshi, managing partner at Dragonfly Capital
Tarun Chitra, managing partner at Robot Ventures
Robert Leshner, founder of Compound
Tom Schmidt, general partner at Dragonfly Capital
Links
DCG/Gemini:
Unchained:
Gemini Ends Its Earn Program and Calls for Barry Silbert’s Ouster
DCG Under Investigation by DOJ and SEC: Report
Genesis CEO Says Firm Needs More Time to Find a Solution
Previous coverage of Unchained on DCG and Genesis:
Gemini vs. DCG Is Heating Up. Could Gemini Force Genesis Into Bankruptcy?
‘The Last Big Whale’: Why the Crypto Contagion of 2022 Eventually Hit Genesis
Adam Cochran on Why Crypto Prices Will Be Down Bad for the Next Six Months
Is the Collapse of Crypto Lending Over, or Is It Just Starting?
Genesis May Be Facing Bankruptcy. Could It Take DCG Down With It?
Why Genesis Could Very Well Be Insolvent, Not Just Illiquid
FTX:
Unchained:
DOJ Seizes $450M in Robinhood Shares from FTX
Sam Bankman-Fried Pleads Not Guilty to All Charges
Decrypt: FTX Restructuring Team Has Clawed Back $5B in Lost Assets
Previous episodes of The Chopping Block on FTX:
The Chopping Block: Can Exchange CEOs Like SBF Be Crypto True Believers?
The Chopping Block: FTX: The Biggest Collapse in the History of Crypto?
The Chopping Block: Why Lenders Didn't Liquidate Alameda When It Was Underwater
The Chopping Block on FTX/Alameda: Is Sam Bankman-Fried 'Crypto Kanye'?
The Chopping Block: SBF Wants to Win in the Court of Public Opinion. Will He?
The Chopping Block: Was FTX a Scam From the Very Beginning?
Layoffs:
Unchained:
Coinbase Lays Off 950 Employees Amid Market Conditions
Genesis Considers Bankruptcy and Cuts Another 30% of Staff: Report - Unchained Podcast
Bloomberg: Silvergate (SI) Tumbles After FTX Implosion Prompts $8.1 Billion Bank Run
Why We Missed On Inflation, and Implications for Monetary Policy Going Forward | by Neel Kashkari
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Gemini has accused Digital Currency Group CEO Barry Silbert of fraud after allegedly misrepresenting the financials of his company. The accusations follow a dispute over the return of $900 million in assets owed to Gemini Earn’s users. Karim Dandashy, CFA and portfolio manager at XBTO Group, discusses everything about the ongoing drama between Genesis, its parent company DCG, and Gemini.
Show highlights:
the fraud accusations against DCG CEO Barry Silbert
all the details disclosed in Barry's response
whether Genesis will file for chapter 11 bankruptcy protection
the meaning of the $1.1 billion promissory note being not callable
the EDNY and SEC investigation on transfers between DCG and a subsidiary – potentially Genesis
whether the 1% interest rate charged for the loan was suitable considering the nature of Genesis' business
whether DCG could sell its venture investments to plug the hole
why Bitvavo rejected an offer from DCG to return 70% of the $300 million owed to them
what Karim would do if he was leading DCG
Thank you to our sponsors!
Crypto.com
Guest
Karim:
Twitter
LinkedIn
Previous coverage of Unchained on DCG and Genesis:
Gemini vs. DCG Is Heating Up. Could Gemini Force Genesis Into Bankruptcy?
‘The Last Big Whale’: Why the Crypto Contagion of 2022 Eventually Hit Genesis
Adam Cochran on Why Crypto Prices Will Be Down Bad for the Next Six Months
Is the Collapse of Crypto Lending Over, or Is It Just Starting?
The Chopping Block: SBF Wants to Win in the Court of Public Opinion. Will He?
Genesis/Gemini:
Unchained:
Gemini Ends Its Earn Program and Calls for Barry Silbert’s Ouster
DCG Under Investigation by DOJ and SEC: Report
Genesis CEO Says Firm Needs More Time to Find a Solution
Gemini Co-Founder Accuses DCG’s Barry Silbert of ‘Bad Faith and Stall Tactics’
Genesis Warns of Bankruptcy If Funding Plans Fail: Report
Financial Times: DCG’s crypto broker Genesis owes creditors more than $3bn
Protos: Scoop: Larry Summers gives up advisory role at crypto firm DCG amid criticism
CNBC: Crypto firms Genesis and Gemini charged by SEC with selling unregistered securities
Forbes: Gemini Faces Class-Action Lawsuit Over Unregistered Interest-Bearing Accounts
Decrypt:
Dutch Bitcoin Exchange Bitvavo Says DCG’s Payback Plan ‘Not Acceptable’
Sam Andrew’s thread
Ram Ahluwalia on DCG CEO’s update to shareholders
Ryan Selkis on the definition of the current assets
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Gabriel Shapiro, general counsel at Delphi Labs, and Collins Belton, managing partner at Brookwood P.C., dive into the controversial case of Avi Eisenberg, the self-described “applied game theorist” who was arrested in Puerto Rico on Dec. 26 on market manipulation and fraud charges. The two crypto lawyers discuss the case’s potential impact on DeFi and DAO governance — and whether “code is law” stands a chance in the courtroom.
Show highlights:
whether Avi’s manipulation of the markets constitutes fraud
debating the crypto maxim “code is law”
whether it’s wrong to use DeFi code in a “smarter way”
how the Mango Markets exploit happened due to poor governance management
whether crypto should be regulated from the securities angle or the commodities angle
the consequences of Avi’s arrest for the DeFi space
whether MEV could constitute market manipulation, even if it’s democratized for everybody
the role of DAOs and whether early-stage projects should maintain some level of centralization
how DAOs could be designed to have better mechanisms in order to deal with potential issues
whether members of the Mango Markets DAO are liable because of their role in designing the system
how Avi was “naive” to think he could avoid legal liability by returning the funds
why Gabe thinks credit protocols are socially positive and why he hopes that prosecutors won’t “throw everyone in jail”
Thank you to our sponsors!
Crypto.com
DeFi Saver
Links
Guests:
Gabriel:
Twitter
Delphi Labs
Gabriel’s Twitter thread on the case
Previous appearances on Unchained:
The SEC's Lawsuit Against Ripple and 2 Execs: What You Need to Know
Collins:
Twitter
LinkedIn
Previous appearances on Unchained:
How the Greatest Decentralizing Force for Crypto Projects Is the SEC
Episode Links:
Previous coverage of Unchained on Avi Eisenberg and the Mango Markets exploit:
The Mango Markets Attacker on Whether His 'Trade' Was Ethical or Not - Ep. 413
The Chopping Block: 'Code Is Law' Is 'Obviously Not How Anything Works Ever'
The Chopping Block: SBF Wants to Win in the Court of Public Opinion. Will He? - Ep. 428
Mango Markets exploit
Explanation
Avi’s “Highly profitable trading strategy” Twitter thread
Unchained:
Mango Markets Exploiter Arrested on Market Manipulation Charges
Mango Markets Exploiter Gets Liquidated But Leaves Aave With ‘Excess Debt’
Mango Markets $42M Reimbursement Proposal Passes
Mango Markets Exploiter Returns $67M After Revealing His Identity
Mango Markets Hacker Proposes Keeping $70M ‘Bad Debt’ As Bounty
Solana’s Mango Markets Sees $100M Drained in DeFi Exploit
Chaindebrief: How Manipulation On AAVE And CURVE Went Wrong, Attacker Got Rekted Instead
The Defiant: Another Fork Bites the Dust: The Looming Fall of Fortress DAO and the Perils of Off-Chain Governance
Karlstack: EXCLUSIVE: The Man Who May Have Milked $100+ Million from Mango Markets
CoinDesk:
The Impact of Avraham Eisenberg’s Case on the Future of Crypto
Mango Markets Exploiter Eisenberg Arrested in Puerto Rico
Mango Exploiter's Funds Get Liquidated After Roiling Aave Using $20M of Borrowed Curve Tokens
Complaint
CNBC: Decoding The Avraham Eisenberg Arrest And Its Impact On Crypto Bug Bounties, White Hat Hackers
Decrypt: Mango Markets Attacker Avraham Eisenberg Arrested, Charged With 'Market-Manipulation Offenses'
Protos: Who is Avraham Eisenberg and why is he all over Crypto Twitter?
Crypto Briefing: Curve Whipsaws 75% as DeFi Degens Squeeze Avraham Eisenberg
New Filing: CFTC charges Avi Eisenberg
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Ram Ahluwalia, CEO and cofounder at Lumida, talks about the ongoing dispute between Gemini and Digital Currency Group (DCG), specifically focusing on the actions and statements of DCG CEO Barry Silbert and Gemini’s cofounder Cameron Winklevoss. Ram discusses various aspects of the conflict, including the potential commingling of assets between DCG and its subsidiary Genesis and the options available to Gemini if DCG does not cooperate.
Show highlights:
how Cameron Winklevoss’s tweets attempt to put Barry Silbert in the same class of actors as Celsius and BlockFi
whether the assets of DCG and Genesis are commingled
what Gemini’s options are if DCG does not commit to cooperate
whether Gemini will file an involuntary petition for Genesis to enter chapter 11 bankruptcy
why Barry's statement that DCG didn't borrow $1.675 billion from Genesis is "very surprising" to Ram
why it is relevant whether Genesis has a liquidity issue or an insolvency one
whether a class-action lawsuit alleging Gemini's earn product is an unregistered security has any merit
the essential role of the $1.1 billion promissory note and whether Genesis will drag DCG into bankruptcy
if DCG goes under, what would happen to Grayscale
whether Valkyrie is going to become the hero and save GBTC
why DCG needs to accept the credit committee terms, according to Ram
Thank you to our sponsors!
Crypto.com
Guest
Ram:
Twitter
Ram Ahluwalia’s thread on Fir Tree and Valkyrie
Previous appearances on Unchained:
Genesis May Be Facing Bankruptcy. Could It Take DCG Down With It?
Why Genesis Could Very Well Be Insolvent, Not Just Illiquid
Previous coverage of Unchained on DCG and Genesis:
‘The Last Big Whale’: Why the Crypto Contagion of 2022 Eventually Hit Genesis
Adam Cochran on Why Crypto Prices Will Be Down Bad for the Next Six Months
Is the Collapse of Crypto Lending Over, or Is It Just Starting?
The Chopping Block: SBF Wants to Win in the Court of Public Opinion. Will He?
Genesis:
Unchained:
Gemini Co-Founder Accuses DCG’s Barry Silbert of ‘Bad Faith Stall Tactics’
Genesis CEO Says Firm Needs More Time to Find a Solution
Genesis Warns of Bankruptcy If Funding Plans Fail: Report
Protos: Scoop: Larry Summers gives up advisory role at crypto firm DCG amid criticism
Forbes: Gemini Faces Class-Action Lawsuit Over Unregistered Interest-Bearing Accounts
WSJ: Crypto Lender Genesis Asks Binance and Apollo for Cash
Decrypt:
Grayscale Ethereum Trust Trades at Record 60% Low Against Ethereum - Decrypt
The Block: DCG CEO Barry Silbert updates shareholders, says company will emerge 'stronger'
FT: Crypto broker Genesis owes Winklevoss exchange’s customers $900mn
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Lucas Nuzzi, head of R&D at CoinMetrics, and Larry Cermak, VP of research at The Block, discuss the current state of the crypto market, including the potential for contagion effects and the challenges faced by VC companies. They also delve into the mining industry and the issues surrounding MEV and Ethereum. The conversation also touches on stablecoins, DeFi activity and NFT trading, and the potential dangers of Binance's dominance in the industry.
Show highlights:
how the collapse in 2022 of FTX and other behemoths will affect the industry in 2023
why there's been a lot of forced selling in the markets recently
why the industry could still be headed to more contagion effects
the characteristics of the current bear market, how it differs from previous ones, and the role of the macroeconomic environment
why it's very hard to predict how prices will behave in 2023
why VC firms will have to focus on long-term projects rather than speculation
what's going to happen in the Bitcoin mining industry in 2023 considering the current tough situation
why Lucas thinks that Bitcoin "drastically overpays for security"
why MEV is a concerning issue and how it represents a single point of failure for Ethereum
how the narrative of alternative layer 1s has changed and why the focus will shift to layer 2s
whether there is a need to develop better blockchain monitoring tools
why stablecoin issuers have a very good business model given the interest rate environment
what are the problems of stablecoins and how they will be regulated
why DeFi activity and NFT trading were down so heavily in 2022 and whether the downtrend will change
how Binance's dominance is "terrifying" and whether it could hurt the industry
Lucas' concerns about the lack of transparency around Binance's BNB token
Thank you to our sponsors!
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Links
Guests:
Lucas :
Twitter
CoinMetrics
Larry:
Twitter
The Block Research
Previous appearances on Unchained:
Larry Cermak of The Block on What 90% of Bitcoin Trading Is For
The year in crypto:
FTX
Previous coverage of Unchained on Sam Bankman-Fried and FTX:
Why Martin Shkreli Thinks SBF’s New Judge Could Still Be Lenient – Ep. 438
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
NFTs:
The Block: From CryptoPunks to Redditors — and a Trump card: The year in NFT charts
CoinDesk: Over $30B of NFT Trading Volume on Ethereum Is Wash Trading, Research Suggests
NFT Market Overview
MEV:
MEV Watch
Flashbots dashboard
Unchained: Why Is Ethereum Trying to Maximize Value From Users? Two Sides Debate
BTC Mining:
The Block: Bitcoin mining companies close out year $4 billion in debt: Report
Unchained: Bitcoin Miners Going Bankrupt? Here's How Crypto Winter Is Impacting the Industry
Contagion:
Genesis/DCG:
Unchained:
Genesis May Be Facing Bankruptcy. Could It Take DCG Down With It?
Genesis Owes Creditors At Least $1.8B: Report
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Martin Shkreli, entrepreneur, investor and convicted white-collar criminal, talks about the new judge assigned to the case against Sam Bankman-Fried, whether Sam’s going to plead guilty or not, and the potential involvement of his family in the lawsuit.
Show highlights:
whether Sam Bankman-Fried truly did not have money to post bail
why the government did not restrict Sam's usage of the internet and social media
why Martin thinks the new judge assigned to the case, Judge Lewis Kaplan, is good for SBF
how many years Judge Kaplan could sentence SBF to, given his unusual work experience
whether there's still a chance that Sam could paint this case as a business failure
how defense attorneys will likely try to exploit the romantic relationship between Ellison and SBF in their favor
why it is unlikely that SBF will plead guilty on the January 3rd arraignment date
what a telemarketing fraudster case has to do with FTX
how the prosecutors could indict SBF's family if he doesn't plead guilty
how a jury would be selected
whether Sam has enough funds to pay for a decent lawyer and how that's going to affect the case
how Martin learned about crypto while he was in prison
how prisoners engage with crypto while incarcerated
whether Sam could run a business from prison
Thank you to our sponsors!
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Guest
Martin:
Socials
Previous appearances of Martin on Unchained:
Martin Shkreli Explains Why Sam Bankman-Fried Got Lucky With His Judge - Ep. 435
Videos on SBF:
Which Gang Will Sam Bankman Join In Prison? | Martin Shkreli Gives Prison Advice to FTX CEO
My Boy Sam Bankman Is Facing Life in Jail for Sure | Martin Shkreli Predicts the FTX Court Hearing
Episode Links
Reuters: Sam Bankman-Fried to enter plea in FTX fraud case
Unchained:
SBF Released on $250M Bond Secured by Parents
Caroline Ellison and Gary Wang Plead Guilty and Are Cooperating in FTX Investigation
SBF Signs Extradition Papers After 8 Nights in Bahamas Jail With AC and Cable TV
CFTC and SEC File Damning Complaints Against Sam Bankman-Fried and FTX
Former FTX CEO Sam Bankman-Fried Arrested Amid US Indictment
Bloomberg:
Bankman-Fried Judge Recused Because Husband’s Firm Advised FTX
FTX Bankruptcy Standoff Heats Up as Bahamas Challenges US Case
Fortune: Sam Bankman-Fried indicted on multiple conspiracy and fraud charges by U.S. officials
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
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Welcome to The Chopping Block! Crypto insiders Haseeb Qureshi, Robert Leshner, Tom Schmidt, and Tarun Chitra chop it up about the year 2022 in the crypto industry and share their biggest winners and losers of the year, what were the best mechanisms, the biggest surprises and the best memes, and their predictions for the upcoming year.
Show topics:
why stablecoin bulls performed so well in 2022, as well as journalism, DeFi, and the EVM
how the reputation of the industry suffered tremendously in 2022
how Solana had to endure multiple hacks and challenges and whether it’s having its “ETH moment”
whether ETH is the only crypto with good tokenomics
why MEV has seen such a massive adoption, even if it’s technically not good for crypto
why the investment landscape changed so much in June
whether Arbitrum is the winner among layer 2s on Ethereum and the role of retroactive airdrops
why so many lending companies went bust this year
whether proof of reserves is a useful concept
whether developers will go back to build on Ethereum rather than alternative layers 1s
Hosts
Haseeb Qureshi, managing partner at Dragonfly Capital
Tarun Chitra, managing partner at Robot Ventures
Robert Leshner, founder of Compound
Tom Schmidt, general partner at Dragonfly Capital
Links
Last year's episode:
The Chopping Block... 2021 in Crypto: The Biggest Winners, Biggest Losers, and Best Memes - Unchained Podcast
FTX:
The Chopping Block: Can Exchange CEOs Like SBF Be Crypto True Believers?
The Chopping Block: FTX: The Biggest Collapse in the History of Crypto?
The Chopping Block: Why Lenders Didn't Liquidate Alameda When It Was Underwater
The Chopping Block on FTX/Alameda: Is Sam Bankman-Fried 'Crypto Kanye'?
The Chopping Block: SBF Wants to Win in the Court of Public Opinion. Will He?
The Chopping Block: Was FTX a Scam From the Very Beginning?
Tornado Cash
The Chopping Block: Why DeFi May Be Over-Complying With Tornado Cash Sanctions
The Chopping Block: Did OFAC Overstep by Sanctioning Tornado Cash?
Solana
The Chopping Block: Anatoly Yakovenko on Why Solana Is Building the SAGA Phone
The Chopping Block: Why Solana’s Frequent Downtime Doesn't Bother Kyle Samani
Terra:
The Chopping Block: Kevin Zhou on Why He Knew Terra Would Crash
The Chopping Block: Does the New Terra Have Any Chance?
Others:
The Chopping Block: Here’s What Was So Bad About Three Arrows Capital
The Chopping Block: SBF on a Crazy Week of Bitfinex, Wormhole and ENS Drama
The Chopping Block: Do Kwon Pitches a Decentralized NFT Publishing Service
The Chopping Block: Did Andre Cronje Pull an Epic Crypto Rug Pull?
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This episode of Unchained looks back on a tumultuous year for the cryptocurrency industry in 2022. Significant events such as the bankruptcies of FTX, Three Arrows Capital, Celsius, Voyager, BlockFi, and the collapse of Terra/LUNA, led to billions being lost due to market plunges and also due to numerous hacks.
This year also brought the Ethereum Merge, one of the most awaited events in crypto's short history. Amidst the turmoil, true believers like Chris Burniske saw a silver lining, while the crypto community watched for the further fallout of this year’s crypto contagion to play out.
Thank you to our sponsors!
Crypto.com
Chainalysis
Minima
DeFi Saver
DAO attacker revealed:
Exclusive: Crypto’s Biggest Whodunnit: Who Was Behind the 2016 DAO Attack on Ethereum?
Exclusive: Austrian Programmer And Ex Crypto CEO Likely Stole $11 Billion Of Ether
Ukraine War:
How Ukraine Is Leveraging Crypto in Its Fight Against Russia - Unchained Podcast
The Chopping Block: In 'the First Crypto War,' How Should the Money Be Spent? - Unchained Podcast
Ukraine Has Received $150 Million in Crypto. Here’s How It Is Being Used - Unchained Podcast
Hacks and exploits:
Bridge Hacks Have Caused ~$1 Billion in Losses. Here’s Why Bridge Security Is Tricky - Unchained Podcast
Terra collapse:
Did Someone Deliberately Attack Terra/Luna to Kick off a Death Spiral? - Unchained Podcast
Why Terra Collapsed and Whether an Algo Stablecoin Can Ever Succeed - Unchained Podcast
The Chopping Block: Kevin Zhou on Why He Knew Terra Would Crash - Unchained Podcast
The 5 Biggest Lessons From Terra/Luna's Collapse, According to Tascha Che - Unchained Podcast
Bankruptcies - 3AC, Celsius and Voyager:
Why Possible Insolvencies by Celsius and 3AC Could Spell Disaster for Crypto - Ep. 364 - Unchained Podcast
The Chopping Block: Here’s What Was So Bad About Three Arrows Capital - Ep. 368 - Unchained Podcast
Three Crypto Bankruptcies: 3AC, Celsius and Voyager. What Happens Now?- Ep. 374 - Unchained Podcast
Tornado Cash:
Tornado Cash Sanctioned. Did the Government Overstep Its Bounds? - Ep. 384 - Unchained Podcast
The Chopping Block: Did OFAC Overstep by Sanctioning Tornado Cash? - Ep. 386 - Unchained Podcast
Is TRM Labs Blocking Addresses From DeFi Protocols? Ari Redbord Says No - Ep.387 - Unchained Podcast
Given the Sanctions on Tornado Cash, Is Ethereum Censorship Resistant? - Ep. 390 - Unchained Podcast
The Chopping Block: Why DeFi May Be Over-Complying With Tornado Cash Sanctions - Ep. 392 - Unchained Podcast
The Merge:
With the Merge, Will Ethereum Take Over Bitcoin’s Title as Digital Gold? - Ep. 389 - Unchained Podcast
Arthur Hayes, Former Ethereum Skeptic, on Why the Merge Makes Him Bullish on ETH - Ep. 393 - Unchained Podcast
Preston Van Loon on Ethereum's Merge and His Lawsuit Against Treasury- Ep.394 - Unchained Podcast
Did the Merge Make Ethereum ‘the Most Secure Blockchain in the World’? – Ep. 397
Do Kwon comes on Unchained:
Do Kwon of Terra: ‘It Was Never Really About Money or Fame or Success’ – Ep. 408
NFT royalties:
The Chopping Block: Two on Two Debate: NFT Royalty Throwdown! - Ep. 409 - Unchained Podcast
Are NFT Royalties the Way? How to Build a Sustainable Creator Economy - Ep. 414 - Unchained Podcast
FTX Collapse:
The Chopping Block: FTX: The Biggest Collapse in the History of Crypto? - Ep. 418 - Unchained Podcast
Erik Voorhees and Cobie on Why FTX Loaned Out Customers’ Assets - Ep. 419 - Unchained Podcast
Will FTX Customers Ever Recover Their Assets? Two Insolvency Experts Weigh In - Ep. 420 - Unchained Podcast
The Chopping Block: Why Lenders Didn't Liquidate Alameda When It Was Underwater - Ep. 421 - Unchained Podcast
Did the Bahamian Government Direct SBF and Gary Wang to Hack FTX? - Ep. 422 - Unchained Podcast
Jesse Powell and Kevin Zhou on How FTX and Alameda Lost $10 Billion - Ep. 423 - Unchained Podcast
The Chopping Block on FTX/Alameda: Is Sam Bankman-Fried 'Crypto Kanye'? - Ep. 424 - Unchained Podcast
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Martin Shkreli, entrepreneur and investor, talks about what Sam Bankman-Fried’s potential life in prison could look like. As a former white-collar criminal, Martin had a lot to say about prison culture, how judge selection affects sentencing, and more.
Show highlights:
why Martin says that the prosecution part of the case is the most difficult to endure
why he thought Sam had "no chance at bail" (although shortly after we recorded, news broke that Sam had been released on what is believed to be the largest bail bond ever – $250 million)
whether SBF should plead guilty and hope to be favored by his cooperation
what jails in New York are like and how the other inmates might treat SBF
whether SBF will be in danger if he goes to prison and Martin's suggestions for him if he wants to survive
why the FTX's case is so unprecedented, especially considering the current sentencing guidelines
Martin's take on Ronnie Abrams, the judge in charge of the case, and why her selection will be good for SBF
whether Caroline Ellison made a mistake by pleading guilty to so many counts
why Gary Wang would likely face a tough time in prison for ratting out SBF
Thank you to our sponsors!
Crypto.com
Guest
Martin:
Socials
Videos on SBF:
Which Gang Will Sam Bankman Join In Prison? | Martin Shkreli Gives Prison Advice to FTX CEO
My Boy Sam Bankman Is Facing Life in Jail for Sure | Martin Shkreli Predicts the FTX Court Hearing
Episode Links
CNBC: FTX founder Sam Bankman-Fried to be released on $250 million bail, will live with his parents
Unchained:
Caroline Ellison and Gary Wang Plead Guilty and Are Cooperating in FTX Investigation
SBF Signs Extradition Papers After 8 Nights in Bahamas Jail With AC and Cable TV
CFTC and SEC File Damning Complaints Against Sam Bankman-Fried and FTX
Former FTX CEO Sam Bankman-Fried Arrested Amid US Indictment
Bloomberg:
FTX Bankruptcy Standoff Heats Up as Bahamas Challenges US Case
Sam Bankman-Fried’s Harsh Bahamas Jail Could Shift His Stance on Extradition
Fortune: Sam Bankman-Fried indicted on multiple conspiracy and fraud charges by U.S. officials
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
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What a year. Cobie, crypto investor and host of UpOnly, and Chris Burniske, partner at Placeholder Ventures, sift through 2022’s rubble for clues as to what lies ahead in 2023. The two bright lights of Crypto Twitter weigh in on SBF’s fraud, how to succeed through the bear market, and what remains promising despite the gloom and doom.
Show highlights:
why 2022 is “the hangover of 2021”
why this year’s big meltdowns were different and dispiriting
why it was actually a year to remind us of why we’re all here
how the underlying protocols didn’t skip a beat
how to survive the bear market
what Chris feels guilty about in the wake of Alameda’s collapse
why Cobie hopes SBF spends life in jail
whether people will actually use decentralized alternatives – or if banking-like relationships will prevail
what Chris sees as the 2023 version of proof-of-stake in 2017
why Cobie thinks bitcoin is an area of opportunity over the next few years
whether the multichain thesis (“Solunavax”) will ever rise again
whether the contagion is over
if disgraced figureheads deserve a second chance
a lightning round lookback on 2022
Thank you to our sponsors!
Crypto.com
Chainalysis
Minima
DeFi Saver
Guests:
Cobie:
Twitter
Substack
UpOnly
Previous appearances on Unchained:
Erik Voorhees and Cobie on Why FTX Loaned Out Customers’ Assets
Cobie and Chris Burniske on How to Navigate a Crypto Bear Market
Chris:
Twitter
Placeholder VC
Previous appearances on Unchained:
Chris Burniske: A Blank Slate of State
Chris Burniske of Placeholder on the Downsides of ICOs
The year in crypto:
FTX
Unchained:
CFTC and SEC File Damning Complaints Against Sam Bankman-Fried and FTX
Former FTX CEO Sam Bankman-Fried Arrested Amid US Indictment
FTX Bankruptcy Overseer Says Company’s Collapse Is Worst He’s Ever Seen
Terra:
CoinDesk: The Fall of Terra: A Timeline of the Meteoric Rise and Crash of UST and LUNA
Three Arrows Capital
CNBC’s full interview with Three Arrows Capital’s Kyle Davies on the downfall of the defunct crypto hedge fund
CoinDesk: Three Arrows Capital Files for Bankruptcy in New York Tied to British Virgin Islands Proceeding
DeCrypt: Bankrupt Three Arrows Capital Owes $3.5B to Creditors, Including $2.3B to Genesis
Binance
Unchained: Binance Passes Withdrawal ‘Stress Test’ After $3B in Daily Outflows
Forbes: Kevin O’Leary Points Finger At Binance For FTX Crash In Senate Testimony
Silvergate
The Block: Silvergate CEO seeks to reassure investors over crypto contagion
The Financial Times: Silvergate: from tiny local lender to bank behind the crypto boom
Genesis/DCG:
Unchained:
Genesis Warns of Bankruptcy If Funding Plans Fail: Report
On-chain Analysts ID 432 GBTC Addresses After Grayscale Says No to Proof-of-Reserves
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Welcome to The Chopping Block! Crypto insiders Haseeb Qureshi, Robert Leshner, and Tarun Chitra were joined by Laura Shin to chop it up about the latest news.
Show topics:
the details of the SEC and CFTC complaints
how crypto traders have always speculated about Alameda's preferential treatment
whether many people knew about the mismanagement of funds and alleged fraud
why Haseeb thinks SBF was a "f*cking psycho"
how helpful Tarun believes a testimony from Sam Trabucco, former co-CEO of Alameda, would be
why Alameda and FTX lost billions of dollars, and the poor diligence of SBF's venture investments
Sam's "ineffective altruism"
why a bull market wouldn't have solved the insolvency problems of FTX
whether SBF will fight extradition and how long it would take
how Sam's consistent use of Facebook and his anti-Maker stand shows he was not a crypto-native
why Laura thinks that The Block CEO's undisclosed loans represent a "total betrayal"
Robert's take on the ineffectiveness of the government's control of information
why Binance is under scrutiny and whether it's the "next FTX"
Hosts
Haseeb Qureshi, managing partner at Dragonfly Capital
Tarun Chitra, managing partner at Robot Ventures
Robert Leshner, founder of Compound
Guest:
Laura Shin, author, host of Unchained
Episode Links
FTX:
Unchained:CFTC and SEC File Damning Complaints Against Sam Bankman-Fried and FTX
SBF Denied Bail in The Bahamas, Will Remain in Fox Hill Prison
Former FTX CEO Sam Bankman-Fried Arrested Amid US Indictment
Bahamas Asked SBF to Mint Hundreds of Millions of Dollars’ Worth of New Tokens After Collapse, Say FTX Liquidators
SBF Directed $8B Alameda Liabilities to an FTX Account He Called ‘Weird Korean,’ Says CFTC
Forbes: Despite Boasting Of Big Profits, FTX And Alameda Lost $3.7 Billion Before 2022
Bloomberg: FTX Bankruptcy Standoff Heats Up as Bahamas Challenges US Case
Sam Bankman-Fried’s Harsh Bahamas Jail Could Shift His Stance on Extradition
Fortune: Sam Bankman-Fried indicted on multiple conspiracy and fraud charges by U.S. officials
Previous coverage of Unchained on Sam Bankman-Fried and FTX: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
Binance:
Unchained: Binance Passes Withdrawal ‘Stress Test’ After $3B in Daily Outflows
Forbes: Kevin O’Leary Points Finger At Binance For FTX Crash In Senate Testimony
The Block
Unchained: The Block CEO Steps Down After Revealing He Was Secretly Funded By SBF
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Laura sounds so naive asking why a con man who is really rich would be so public. Instead, she should be asking why didn't SBF run for President? That way he would get immunity, like Trump.
Christine is off the mark in this one in a bad way. Very offensive.
The day i listen to Erik Voorhees is the day i cash out of crypto...guy is an well-educated asshat.
This means if there is a copy of all of erc20 token on the eth pow then all of the bragging from Richard Heart that he is giving us free coins is gonna be roaring of an empty vessel
I wish you'd get to the story sooner. Alot of the pre-story chatter is boring. I usually skip three quarters of the show.
can't understand with the filter. fail.
unable to play this episode, I have tried multiple podcast apps. doesn't play
so regarding to secret, if not all users on Blockchain can check and access to whole smart contract details (which I think is point of Blockchain) what's point of using Blockchain?
best podcast ever
audio is very low, can't hear the episode.
BTC is minted out of thin air. what a statement. Your prejudice tips into stupidity thanks Mr Eth. you help me understand BTC maximslists.
Ummm, there's a slight problem. Felicia Madison isn't Felecia Michaels, 2 very different people & stories. I know Felicia Michaels & was overjoyed when I thought that she was the guest on this episode. Rather than complaining, I'll eventually listen & hope that the other Felecia is another guest soon. Ms Michaels is SO storyworthy, I look forward to her stories raising eyebrows while making people laugh.
this chick is ahhh...umhh.. different.
anyone else think this guy should lay off the Adderall? lol
Thank you for such an interesting podcast! Great job! Relationship topics are really important and worth of discussing! Read more on dating topic on my blog here https://www.behance.net/gallery/101647201/Relationship-advice
it answer some of my question on decentralization
How can you accidentally be in a threesome? Perhaps she was sleepwalking and then woke up?
Dick move bringing up that prop 8 stuff from 15 years ago.
almost 15 minutes of blather+ads, before the story even starts. 👎
Awesome podcast. I've read whole books that were not as complete as your work here.