The Top Things Investors Need to Know Before Buying Crypto Tokens
Unchained19 Mar

The Top Things Investors Need to Know Before Buying Crypto Tokens

Across Protocol wants to retire its token in exchange for equity. Is the DAO model structurally broken? Thank you to our sponsor! Adaptive Security With Across Protocol proposing to retire its ACX token in favor of equity, a long-simmering question in crypto governance is finally breaking into the open: do token holders actually have meaningful ownership, or just the illusion of it? As the regulatory environment under the new U.S. administration shifts dramatically from the Gensler era, the structures that crypto teams were forced to build may now be working against the very communities they were meant to serve. Ryan Yi, founder of Onchain Group, and Felipe Montealegre, co-founder and CIO of Theia, have studied these incentive structures closely, and what they have found is uncomfortable. From PumpFun's suppressed valuation to the perverse incentives baked into token buyouts, this conversation examines whether the DAO model was ever built to last, and what governance actually needs to look like if crypto is going to compete with global finance. Guests: ⁠⁠⁠⁠Ryan Yi, Founder of Onchain Group ⁠⁠⁠⁠Felipe Montealegre, Co-Founder & Chief Investment Officer at Theia Links: Read our Aave deep dive here Learn more about your ad choices. Visit megaphone.fm/adchoices

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Episoder(1188)

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Are Perpetuals Swaps or Futures? The CME Picks a Fight

Three years ago, Chris Perkins sat across from Terry Duffy in Congress and made the case for perpetuals. Duffy pushed back — hard. Now Duffy's CME is suing the very regulator that finally allowed them...

24 Jun 11min

How Digital Credit Assets like STRC and SATA Differ from Bitcoin or DAT Stocks

How Digital Credit Assets like STRC and SATA Differ from Bitcoin or DAT Stocks

Was Michael Saylor wrong to sell Bitcoin? Matt Cole breaks from his fellow critics on Strategy, S&P's junk rating on MSTR, and whether the model is breaking. =========================================...

23 Jun 56min

Why Kalshi's John Wang Says Perps Are 'the Most Pure Trading Instrument'

Why Kalshi's John Wang Says Perps Are 'the Most Pure Trading Instrument'

Kalshi just brought crypto perps to the US, targeting a $90 trillion offshore market. Its Head of Crypto, John Wang, explains the bet, the risks, and who Kalshi is actually competing with. ==========...

19 Jun 48min

Why Fable's Shutdown Is a Warning for Every AI Lab: Uneasy Money

Why Fable's Shutdown Is a Warning for Every AI Lab: Uneasy Money

The government export-controlled Anthropic's best model. Kain, Luca, and Taylor debate whether Dario talked his way into it and what the shutdown means for every AI lab. =============================...

19 Jun 1h 14min

Why Pandl Calls Gold and Bitcoin Buys Here

Why Pandl Calls Gold and Bitcoin Buys Here

Zach Pandl, Head of Research at Grayscale Investments, argues that speculative retail flows, not geopolitical fundamentals, drove the recent gold and Bitcoin selloffs. His read: momentum chasing built...

19 Jun 7min

Why AI Censorship and Reg NMS Repeal Matter for Crypto Markets: DEX in the City

Why AI Censorship and Reg NMS Repeal Matter for Crypto Markets: DEX in the City

The federal government pulled Anthropic's Fable 5 offline with no public process — and Jessi Brooks makes the case it's a crypto chokepoint story, not just an AI one. Thanks to our sponsor! 👉...

18 Jun 54min

The Chopping Block: SpaceX IPO Mania, Fable 5 Export Controls & The AI Privacy Fight

The Chopping Block: SpaceX IPO Mania, Fable 5 Export Controls & The AI Privacy Fight

The crew breaks down the SpaceX IPO's crypto-like low float dynamics and Hyperliquid's price prediction, debates accredited investor laws and failed tokenized stock allocations, dives into Fable 5's e...

18 Jun 1h 14min

Unchained Celebrates 10 Years! Laura and Haseeb Cover Highs, Lows and New Directions

Unchained Celebrates 10 Years! Laura and Haseeb Cover Highs, Lows and New Directions

For the tenth anniversary of Unchained, Laura reflects on the SBF question she never asked, the Charles Hoskinson beef, and why she may be done with strict neutrality. ===============================...

18 Jun 57min

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