The Chopping Block: Robinhood’s Tokenized-Stock Gambit, Solana’s ETF Splash & the Proof-of-Stake Reality Check - Ep. 862

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, we dissect the chaos triggered by Trump’s trade war, which sent Ethereum and alts into freefall while Bitcoin held strong. Why are alts struggling, and is this just a flight to quality—or something deeper? We also dive into the LA Vape Cabal phenomenon and its bizarre influence on memecoin culture, debate whether the SEC’s new leadership is truly a game-changer for crypto, and analyze Binance’s latest scandal. Plus, is the memecoin cycle really over, or is this just another phase in crypto’s endless casino? Show highlights 🔹 Trump’s Trade War Wrecks Crypto – Ethereum and alts nosedive as Trump’s surprise tariffs shake markets. Is this just macro panic or a deeper shift in investor sentiment? 🔹 Biggest Liquidation Day Ever? – Crypto saw its largest mass liquidation in history, with Bybit’s CEO estimating real losses closer to $8-10 billion—more than the FTX collapse. 🔹 LA Vape Cabal & Memecoin Mania – A bizarre Twitch-fueled trading cult is shaping the memecoin meta. Is this the future of crypto speculation, or just another fleeting grift? 🔹 The Great Altcoin Capitulation – Alts are bleeding while Bitcoin holds strong. Has the market finally given up on everything that isn't BTC? 🔹 Hester Peirce’s Crypto Reset – The SEC’s new approach could rewrite the rules for token issuers. Will the industry finally get the regulatory clarity it’s been begging for? 🔹 Binance Under Fire (Again) – CZ’s former empire faces backlash over insider listings, alleged bribes, and a wave of vaporware projects that tanked after launch. 🔹 Pump.fun = The New NFT Casino? – Memecoin speculation is bigger than 2021’s NFT boom. But is it sustainable, or is the exit liquidity running dry? 🔹 The Memecoin Endgame? – Some claim the bubble has burst, but if history tells us anything, a new wave of degens will always find a way to keep the casino open. 🔹 Bitcoin’s Macro Dominance – BTC’s macro story is unstoppable, with talk of a U.S. sovereign wealth fund investing in Bitcoin. Will the market ever rotate back to alts? Hosts ⭐️Haseeb Qureshi, Managing Partner at Dragonfly ⭐️Robert Leshner, CEO & Co-founder of Superstate ⭐️Tarun Chitra, Managing Partner at Robot Ventures ⭐️Tom Schmidt, General Partner at Dragonfly  Disclosures Links Hester Peirce’s Blog Post – “The Journey Begins”: https://www.sec.gov/newsroom/speeches-statements/peirce-journey-begins-020425  David Sacks' Plan for Digital Assets Press Conference: https://youtu.be/LqTsyTuLSSI  Timestamps  00:00 Intro 01:08 Market Turmoil and Trade Wars 07:10 Bitcoin's Dominance & Altcoin Struggles 10:33 Memecoins & Market Sentiment 25:05 Cultural Phenomena in Crypto 33:54 The L.A. Vape Cabal 40:45 Millennials and Memecoins 44:51 Binance & the Chinese Community 50:45 Regulatory Developments in Crypto Learn more about your ad choices. Visit megaphone.fm/adchoices

6 Helmi 1h 4min

Subscribe to our newsletter! https://unchainedcrypto.beehiiv.com/subscribe Trump’s new wave of tariffs has reignited the debate: Are they good for the economy or a disaster waiting to happen? Some say tariffs will crush trade, boost inflation, and slow growth—but others argue they could weaken the dollar and send bitcoin soaring. On this episode of Bits + Bips, Jeff Park of Bitwise, along with James Seyffart, Alex Kruger and Noelle Acheson, battle it out over the real impact of Trump’s tariffs, whether they could spark a new Plaza Accord 2.0, and why ETH took a harder hit than BTC in the latest selloff. Plus, is Trump’s economic strategy really about making America great again—or just about keeping his own real estate empire afloat? Jeff makes a bold claim outlining Trump’s #1 goal—one that his personal wealth depends on. Show highlights: 2:38 - Why Jeff believes that people’s reaction to tariffs was bizarre 7:09 - Why Jeff is convinced that tariffs are good for bitcoin 10:18 - Why Alex is so against tariffs 21:37 - How tariffs actually affect consumers 27:36 - What’s Trump’s number one priority is, according to Jeff 36:26 - Whether inflation will eventually come back to previous levels 41:05 - Why ETH got hit the hardest on Sunday night 49:56 - Whether the ETH/BTC ratio has bottomed 51:03 - How Hyperliquid’s HYPE held up so strongly 53:02 - The significance of Tether adding USDT to the Lightning Network Hosts: James Seyffart, Research Analyst at Bloomberg Intelligence Noelle Acheson, Author of the “Crypto Is Macro Now” Newsletter  Alex Kruger, Founder of Asgard Guest:  Jeff Park, Head of Alpha Strategies at Bitwise Previous appearance on Bits + Bips: The Real ‘Trump Trade’ & Why Trump's World Liberty Financial Was a Flop Links AP: Canada and Mexico agree with Trump to postpone tariffs by at least 30 days Eric Trump on X: "In my opinion, it’s a great time to add $ETH." Unchained:  USDT Integrates With Bitcoin and Lightning Network ETH Crashes After Trump Imposes Tariffs  Learn more about your ad choices. Visit megaphone.fm/adchoices

5 Helmi 1h 1min

Listen to the episode on Apple Podcasts, Spotify, Pods, Fountain, Podcast Addict, Pocket Casts, Amazon Music, or on your favorite podcast platform. The success of any blockchain isn’t just about scalability, security, or decentralization—it’s about attracting developers. The easier it is to build, the more innovation happens. Or at least, that’s the thesis of Movement Labs co-founder Rushi Manche and Olaf Carlson-Wee, CEO of Polychain Capital. In this episode of Unchained, Rushi explains why Move, originally developed by Meta, is a fundamentally better programming language for crypto than the Ethereum Virtual Machine (EVM). He breaks down how Move’s unique approach to security and asset management improves developer experience and why the Movement Network is bringing Move to Ethereum as a layer 2 solution. Olaf shares his thoughts on how alternative programming environments like Move could challenge the dominance of the EVM, why Ethereum is at a critical moment, and how AI-powered financial agents could change how investments work. Show highlights: 2:32 What problems Move solves for crypto and how it got started 8:57 How the programming language is safer than others, specifically for crypto finance 21:00 What’s the thesis behind the Movement network 23:12 Why Movement chose to become an Ethereum L2 30:08 Where ETH is headed and what it needs to succeed 32:25 Why Rushi is so bearish on EVM layer 2s 34:59 Whether Ethereum is going through an existential crisis 37:47 Why Rushi believes that modularity will save Ethereum 39:28 How Movement differs from Aptos and Sui 41:36 The importance of developer experience in crypto’s growth 44:48 How tokens can signal the significance of content in social media 52:04 Why Olaf thinks we’ll soon see an explosive growth of financialized agents 57:19 Whether AI will replace VC investors and other jobs 1:01:38 What Rushi has to say about the Trump team buying MOVE 1:04:09 The significance of the U.S. making crypto a national priority Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com Thank you to our sponsor! Mantle Guest: Rushi Manche, Co-founder of Movement Labs Olaf Carlson-Wee, CEO of Polychain Capital Previous appearances on Unchained: OG Olaf Carlson-Wee on Why His Crypto Thesis Is Stronger Than Ever Olaf Carlson-Wee: ‘If There Is a Money-Losing Exploit, the Money Is Gone’  Why The First Employee Of Coinbase Launched A Hedge Fund To the Moon and Back With Polychain’s Olaf Carlson-Wee Special Episode with CNBC’s Crypto Trader: Olaf Carlson-Wee on Why This Crypto Winter Is Different From Previous Ones All Things Cryptoeconomics, Pt. 1, With Olaf Carlson-Wee and Ryan Zurrer of Polychain Capital Links Unchained:  Trump’s Crypto Project Bought MOVE Tokens as DOGE News Leaked How Solana Beat Out Ethereum to Nab New Crypto Developers in 2024 Chris Dixon on Why We Will Finally See New App Innovation in Crypto 2025 Will Be a Year of Crypto Competition. Can Ethereum Make a Comeback? With AI Agents Now Trading Crypto, What Does Their Future Look Like? Learn more about your ad choices. Visit megaphone.fm/adchoices

4 Helmi 1h 8min

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, we dive into Ethereum’s growing identity crisis as frustration mounts over the Ethereum Foundation’s leadership, vision, and sluggish innovation. Is Ethereum losing its edge while Solana, Base, and Tron take over? We also break down the Second Foundation drama, discuss Justin Sun’s wild L2 taxation proposal, and debate whether Ethereum needs a CTO-style overhaul to stay competitive. Plus, Vitalik Buterin’s unexpected embrace of the Milady NFT movement and what Gary Gensler’s exit from the SEC means for the future of crypto regulation. Show highlights 🔹 Ethereum Civil War? The Ethereum Foundation (EF) faces internal and external backlash as Vitalik defends its “WEF soy boy” ethos. Critics call for leadership changes, faster innovation, and a more aggressive growth strategy. 🔹 Second Foundation Fakeout: Rumors spread that Lido’s founder was launching a rival EF, briefly pumping ETH before being debunked. The buzz reignites calls for governance changes. 🔹 L2 Taxation Debate: Justin Sun proposes a 5B ETH tariff on rollups to fund buybacks, sparking debates on Ethereum’s fragmented ecosystem and lack of value accrual. 🔹 Vitalik Goes Milady: Ethereum’s co-founder embraces the Milady NFT subculture, changes his profile pic, and adopts the meme’s signature sign-off, fueling speculation about crypto’s shifting cultural landscape. 🔹 Ethereum’s Identity Crisis: With Solana, Base, and Tron dominating user adoption, is Ethereum too slow and academic to compete? Calls for an Ethereum “CTO” or more centralized execution grow louder. 🔹 Gensler’s Next Move: Gary Gensler exits the SEC and returns to MIT to teach AI & finance. Crypto celebrates his departure, while an AI-generated rap video mocks his legacy. Hosts ⭐️Haseeb Qureshi, Managing Partner at Dragonfly ⭐️Robert Leshner, CEO & Co-founder of Superstate ⭐️Tarun Chitra, Managing Partner at Robot Ventures ⭐️Tom Schmidt, General Partner at Dragonfly  Disclosures Links Hayden Adam’s Tweet:  https://x.com/haydenzadams/status/1884134669265891433 Justin Sun’s EF Plan Tweet: https://x.com/justinsuntron/status/1881999625990836229  Scaling Ethereum L1 and L2s in 2025 and Beyond by Vitalik Buterin: https://vitalik.eth.limo/general/2025/01/23/l1l2future.html  Zen and the Art of Shifting Mindsets in Technology: Aya Miyaguchi interview in Wired Magazine: https://wired.jp/article/the-next-innovators-4-aya-miyaguchi-en/  Timestamps  00:00 Intro 01:47 Ethereum Foundation's Civil War 05:53 The Bronze Age Mentality 07:32 Community Criticism and Governance 10:03 Vitalik's New Persona: Embracing Milady 14:33 Future of Ethereum and L2s 37:39 L1 vs L2: Do People Really Care? 42:12 Ethereum's Strategy and Colonialism Analogy 46:10 The Role of the Ethereum Foundation 58:34 Gary Gensler's Move to MIT and His Legacy Learn more about your ad choices. Visit megaphone.fm/adchoices

31 Tammi 1h 6min

The kidnapping of Ledger co-founder David Balland in France sent shockwaves through the crypto community, raising urgent questions about security for high-profile crypto holders. How do you protect yourself when criminals are willing to go beyond digital attacks and resort to violence? In this episode of Unchained, Jameson Lopp, co-founder and Chief Security Officer of Casa, speaks about the growing trend of “wrench attacks”—physical assaults aimed at forcing crypto holders to transfer their assets. Lopp explains how these attacks are evolving, what makes someone a target, and which geographies are seeing the most attacks. Plus, he shares what behaviors put you most at risk, how criminals are getting more organized, and why relying on exchanges for security is not as safe as you think.  If you hold significant crypto wealth, this is an episode you can’t afford to miss. Show highlights: 2:02 How a Ledger co-founder was kidnapped and how the situation was resolved 6:46 Who tends to be targeted and which geographies see the most physical attacks 14:15 The riskiest behaviors that are likely to lead to wrench attacks 16:01 How attackers decide who to target  20:37 How the attacks have been accelerating lately  22:16 How the Ledger team ensured the kidnappers couldn’t access the ransom money  23:44 Jameson’s top tips on how crypto holders can stay safe 29:30 News Recap Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com Thank you to our sponsors! Mantle Polkadot Quai Network Guest  Jameson Lopp, co-founder and Chief Security Officer of Casa Links Previous coverage of Unchained on crypto security: Here’s How to Protect Your Crypto and Seed Phrases From Natural Disasters Reuters: Kidnapped co-founder of French crypto firm Ledger had his hand mutilated Learn more about your ad choices. Visit megaphone.fm/adchoices

31 Tammi 44min

From AI shaking up Big Tech to bitcoin’s role in the macro landscape, Jim Bianco delivers insights on the DeepSeek-triggered market selloff, memecoins, and the challenges facing traditional systems. In this episode, the macro strategist shares why DeepSeek’s AI model is reshaping competition, how crypto reserves might evolve, and what happens to MicroStrategy if bitcoin’s price takes a hit. Plus, hear his take on why stablecoins are a threat to banks, and why memecoins could be more than speculation. Show highlights: What of crypto attracted Jim so much 0:49 What of crypto attracted Jim so much 6:15 Why the DeepSeek new model was so disruptive 12:47 Whether the biggest loser is OpenAI, not all the Mag 7 16:14 Whether we’ll see a major macro response from U.S. companies and government 26:06 What will happen next with the price of bitcoin 28:54 What would happen to MSTR if bitcoin goes 30% lower 34:11 How Trump was able to move so fast since the inauguration 39:30 Why the Fed should not do QE, according to Jim 49:02 How memecoins could be designed to be much more than speculative assets 53:03 Why James hopes the SEC doesn’t approve all the memecoin ETF applications 58:06 Whether banks will start onboarding crypto companies 1:05:52 Why stablecoins poise an existential threat to the current banking system 1:11:19 Whether it’s a bad idea for the U.S. to acquire other cryptos that are not bitcoin Hosts: James Seyffart, Research Analyst at Bloomberg Intelligence Ram Ahluwalia, CFA, CEO and Founder of Lumida Noelle Acheson, Author of the “Crypto Is Macro Now” Newsletter  Guest: Jim Bianco, President and Macro Strategist at Bianco Research Links CNN Business: Trump announces a $500 billion AI infrastructure investment in the US Unchained: Tuttle Capital Files for 10 Leveraged Crypto ETFs CoinDesk: Nasdaq Files for In-Kind Redemptions for BlackRock Spot Bitcoin ETF Reuters: US, Colombia reach deal on deportations; tariff, sanctions put on hold Learn more about your ad choices. Visit megaphone.fm/adchoices

29 Tammi 1h 19min

Chris Dixon, founder and managing partner of a16z crypto, joins Unchained to share why he believes crypto innovation is about to explode. From Ethereum’s potential to new crypto legislation, Chris delves into why the industry is poised for a major break out. He also discusses why the Biden administration’s “lawfare campaign” led to the memecoin craze, how AI and crypto together could transform technology, and why bad tech policy stifled the industry for years.  Plus, he shares his take on the executive order signed by President Donald Trump and its significance for the industry. Show highlights: 2:51 Why Chris feels like the Biden administration was trying to destroy crypto 7:16 Chris’s take on the Trump announcements and executive orders 14:18 What Chris would like to see in upcoming crypto legislation 21:37 How he compares the intertwining of AI and crypto with mobile, cloud and social 26:24 Whether an investing AI agent like ai16z could ever compete with A16z 32:05 How technologies usually evolve exponentially and how the AI x crypto craze will evolve 39:21 Why Chris doesn’t think the debate about whether Ethereum L2s are ‘parasitic’ is important 47:24 Chris’s opinion on whether Vitalik should be doing more marketing for ETH 51:29 Why Chris thinks native rollups on Ethereum could be valuable and promising 55:43 What he believes is important to pitch blockchain to Wall Street 59:39 Chris’s vision for a future multichain world 1:04:20 How the Biden administration’s “lawfare campaign” enabled the memecoin craze in 2024 1:08:08 Why Chris says that Coinbase has been very innovative 1:14:11 Whether ICOs are a recipe for fraud and scams 1:17:39 What apps and innovations Chris is excited about Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com Thank you to our sponsors! Polkadot Somnia Network Guest:  Chris Dixon, Founder and Managing Partner of a16z crypto Previous appearances on Unchained: A16z Crypto’s Chris Dixon on How Blockchains Can Save the Internet Chris Dixon on How Trust Is the Best Lego Links Unchained:  President Trump Declares Crypto a National Priority in Executive Order 2024 Was Solana's Best Year Yet. Can It Sustain the Momentum in 2025? Chris’ tweet on the executive order  Learn more about your ad choices. Visit megaphone.fm/adchoices

28 Tammi 1h 26min

Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, and Tom Schmidt chop it up about the latest in crypto. This week, we're joined by special guest Peter Van Valkenburgh, Executive Director of Coin Center, to tackle one of the most pivotal moments in crypto policy. In this episode, we dive into the groundbreaking Fifth Circuit ruling on Tornado Cash, unpack its implications for blockchain privacy, and discuss the challenges noncustodial developers like Roman Storm are facing. We also break down Trump’s crypto executive order, the SEC’s new direction under Hester Peirce, and speculate on what a U.S. strategic Bitcoin reserve might mean for the future. Show highlights 🔹 Crypto as a Public Good: Why open, permissionless technologies need protection—and how Coin Center defends them. 🔹 Tornado Cash Ruling: The Fifth Circuit overturns OFAC sanctions—what this means for blockchain privacy and freedoms. 🔹 Roman Storm Case: DOJ’s controversial crackdown on noncustodial developers and its implications for innovation. 🔹 Trump’s Crypto EO: Breaking down the ban on CBDCs and the push for U.S. leadership in digital assets. 🔹 SEC’s New Direction: Hester Peirce’s crypto task force and the future of enforcement and regulation. 🔹 CFTC vs. SEC: Will Congress resolve the jurisdiction battle over crypto markets? 🔹 Senate Banking’s Subcommittee: How Senator Lummis could lead a new era of crypto-friendly policy. 🔹 Strategic Bitcoin Reserve: Speculating on what a U.S. Bitcoin reserve might look like. 🔹 2025 Regulatory Outlook: How shifting policies could redefine crypto’s future. Hosts ⭐️Haseeb Qureshi, Managing Partner at Dragonfly ⭐️Tom Schmidt, General Partner at Dragonfly  Guest: ⭐️Peter Van Valkenburgh, Executive Director of Coin Center Disclosures Timestamps -  00:00 Intro  01:34 Coin Center & Crypto as a Public Good 05:04 Crypto Policy Shifts & Trump's Executive Order 16:11 Senate Banking Digital Assets Subcommittee 20:20 SEC Crypto Task Force 32:10 Hester Peirce's Safe Harbor Proposal 35:43 Strategic Bitcoin Reserve: Expectations and Realities 41:12 Tornado Cash & OFAC Sanctions 45:28 Legal Implications for Noncustodial Developers 57:51 Future of Crypto Regulation & Coin Center's Role Learn more about your ad choices. Visit megaphone.fm/adchoices

25 Tammi 1h