The Curious Case of Zelensky’s Suit, PolyMarket, UMA and the New Politics of Truth
In this episode we untangle how a single photograph of President Volodymyr Zelenskyy’s black jacket became a $150-million flash-point on Polymarket, the largest crypto prediction exchange.The platform’s “optimistic oracle,” UMA, stalled three times on the question of whether Zelenskyy had “worn a suit before July,” then looked ready to rule No, even as mainstream outlets ran headlines calling the outfit a suit. We explain how UMA’s four-code voting system works, why one wallet with 1.3 million UMA tokens could swing a verdict, and how similar whale manoeuvres upended a $7 million Ukraine-minerals wager in March and forced Polymarket to over-ride its own oracle in last year’s Barron-Trump meme-coin dispute. The episode also charts Polymarket’s meteoric rise, from billions in 2024-election volume to a 2025 funding round that puts the company’s valuation above $1 billion, and asks what happens to “truth on-chain” when the incentives, the rules, and the money all point in different directions.If you find this useful, share it with a friend and leave a comment telling us which part surprised you most.00:00 Opening – The Jacket That Launched a $150M Bet02:15 Act 1: The Bet – A Gold Badge and a Sure Thing12:30 Act 2: The Oracle – Why UMA Keeps Saying “Too Early”25:00 Act 3: Precedent Problems – Whales, Flips, and Overrides35:40 Act 4: Retail Risk – How Clear Rules Could Fix It43:00 Credits & How to Support the Show
21 Jul 40min
N1’s Building the Most Powerful Perp DEX in Crypto with David Cao
🚀 LIVE: David Cao on N1 Chain – Building a Lightning-Fast Perp DEX for Everyday TradersWondering how N1 plans to turn on-chain derivatives into a one-click, low-fee experience? In this Leviathan News livestream, host Sam McCulloch sits down with N1 founder David Cao to unpack:• Why N1 pivoted from options to a high-speed perpetuals exchange• The tech behind N1’s sub-second finality and 100k TPS target• Liquidity strategies, token incentives and the recent Echo.xyz sale• How N1 will differentiate itself from Hyperliquid and packed DeFi markets• What retail traders can expect on day one🔔 Subscribe & turn on notifications so you never miss our DeFi deep dives.Quick links• Website – latest articles & dashboardshttps://leviathannews.xyz• Daily Newsletter (free) – crypto stories in 3 minhttps://leviathannews.substack.com• Telegram (12 k builders, live drops)https://t.me/+zqRS5HW8GlgzY2Ix• Twitter / X – clips, charts, breaking threads / leviathan_news
28 Jun 1h 6min
Llama Party: The State of DeFi, with Sonic Labs and CrossCurve
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24 Jun 46min
Understanding DeFi Lending with Keyring Network's Alex McFarlane
In this episode of Leviathan News, host Sam is joined by Alex McFarlane of Keyring Network to dive deep into the complexities of DeFi lending markets. They discuss the transformation of DeFi lending into institutional markets, and the crucial role of risk management. Alex explains how Keyring Network aims to bridge the gap between retail and traditional finance, emphasizing security and low-risk strategies using zero-knowledge proofs. They also explore the impact of stablecoin lending rates, the importance of compliance, and how to navigate the emerging institutional-focused lending providers. 00:00 Welcome to Leviathan News00:15 Recent Liquidation Event on Squid01:37 Introduction to Alex McFarlane and Keyring Network01:51 The Evolution of Defi Lending Markets02:53 Keyring Network's Unique Approach05:30 Defi Lending Popularity and Economic Activities08:47 The Role of Collateral and Leverage in Defi15:42 Institutional Interest in Defi Lending18:59 Risk Management in Defi Lending28:12 Emerging Institutional Defi Platforms31:33 Introduction to Points Programs and Incentives32:21 The Importance of Incentivized Pools33:02 Challenges in DeFi Lending and Borrowing34:54 Operational Risk and TVL in DeFi42:01 Comparing DeFi Lending to Traditional Lending49:35 The Role of Compliance in DeFi57:31 Conclusion and Future of Permission Markets
23 Jun 1h
Llama Party feat. Scoopy Trooples of Alchemix
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15 Jun 1h 4min
Llama Party feat. RobAnon from InfiniFi
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14 Jun 58min
Is Pump worth the hype at $4bn?
Sam and Matt dive deep into the rumoured $1bn Pump.fun token sale at a $4bn valuation, break down the platform’s monster fee haul, and debate whether the raise signals strength or peak mania. They explore Pump.fun’s equity-versus-token dilemma, wallet-level P&L data, and the wider impact on Solana liquidity. The conversation widens into Circle’s long-awaited IPO, Tether’s new L1, and the shifting ETH-vs-SOL trade. Along the way they tackle market structure, gambling culture, and what a “next-cycle” launch timeline could look like.Timestamps00:00:00 Intro and welcome00:00:34 Sam outlines topics, introduces Matt00:01:03 Debut of the new Leviathan theme jingle00:01:29 Pump.fun sale headline and why the story matters00:02:07 Are market “cycles” dead? multi-market complexity explained00:04:52 Macro backdrop, tight liquidity, and government money printing00:05:48 Blockworks leak, $4bn valuation backlash, and public-vs-VC debate00:09:12 Pump.fun fee revenue, $622m lifetime haul, margin estimates00:13:51 Equity vs token control, vesting, and convertible warrant talk00:19:45 Hyperliquid airdrop precedent, fairness expectations00:25:14 Swap UX gaps, smart-routing complaints, competitor pressure00:32:18 Wallet P&L chart, bot dominance, airdrop eligibility hurdles00:40:47 12-month vesting vs Serum’s 7-year lockups, insider dynamics00:49:15 Gambling culture, DFS vs sports-betting, personal risk discipline00:58:26 Will the raise drain $1bn of SOL liquidity? pricing signals01:02:18 ETH/SOL breakdown, relative upside for ETH to 20 k scenario01:10:05 Circle IPO watch, Bitfinex-Tether chain, stablecoin competition01:14:49 Odds Pump launches its own chain or L2 within two years01:18:36 Closing thoughts, Lava party teaser, sign-offLike the discussion? Hit subscribe, turn on alerts, and drop your questions below for tomorrow’s live Q&A.
6 Jun 1h 24min
Llama Party feat. Sid "Syrup" Powell of Maple Finance
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2 Jun 55min
