Unchained

Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Robert Leshner, and Tarun Chitra explore the latest trends in the crypto world. In this episode, we dive into the impact of celebrity-endorsed memecoins, featuring discussions around Iggy Azalea's 'Mother' token, Waka Flocka Flame's 'Flocka' token, and other celebrities. We debate the broader implications of these phenomena on the crypto market, address criticisms of venture capital's role in crypto, and explore the seasonal nature of crypto trading. Tune in for an in-depth look at how pop culture intersects with cryptocurrency, shaping current market sentiment. Show highlights 🔹 Seasonality in Crypto: Exploration of the historical seasonal trends in crypto markets and their implications. 🔹 Memecoins & Celebrities: Insightful discussion on the rise of celebrity-launched memecoins and their impact on the crypto world. 🔹 Market Cycles: Exploration of the different phases in market cycles and their effects on asset creation and liquidation. 🔹 VC Funding in Crypto: Examination of the role of venture capital in the crypto ecosystem and its impact on market dynamics. 🔹 VC vs. Liquid Funds: Debate on whether venture capital funds are beneficial or detrimental to the crypto markets. 🔹 Institutional and Retail Adoption: The importance of growing crypto usage among both institutions and retail investors. Hosts ⭐️Haseeb Qureshi, Managing Partner at Dragonfly  ⭐️Tom Schmidt, General Partner at Dragonfly ⭐️Robert Leshner, CEO & Co-founder of Superstate ⭐️Tarun Chitra, Managing Partner at Robot Ventures Disclosures Timestamps 00:00 Intro 01:58 Market Sentiment 07:34 Celebrity Involvement in Crypto 16:00 Celebrity Coins vs Endorsements  25:24 Influencer Economy and Social Tokens 27:41 Legibility and Value of Memecoins 28:37 Crypto Influencers 31:07 VCs vs. Retail 36:50 Future of Crypto Markets 43:53 Institutional vs. Retail Adoption 50:45 Taking on Populist Takes Learn more about your ad choices. Visit megaphone.fm/adchoices

19 Jun 202452min

A few weeks after its launch, Iggy Azalea's MOTHER memecoin is still in the spotlight. Host Joe McCann, who recently had dinner with her in New York, gives the inside scoop on how Iggy’s $MOTHER came to be, plus her plans.  Also, Joe says Iggy is so bullish on Solana because it’s fast and cheap… but James Seyffart counters… nothing can be fast, cheap, and good. Except ETFs. Guests Phil Bonello and Kelly Greer delve into the role of venture capital in crypto, and more particularly into dynamics between liquid hedge funds and massive token generation events. And James tells a mind-blowing story about how one ETF and obscure SEC rules could cause whiplash to the prices of Apple and Nvidia stock over the next few months.  Plus, after SEC head enforcer David Hirsch resigned from the SEC this week, everyone gave their takes on why. Is Hirsch going to BlackRock, or was he scared about a potential lawsuit? Show highlights: 00:51 The real story behind Iggy Azalea's MOTHER memecoin and the controversy between Joe and Haseeb Qureshi 07:26 Why Iggy is bullish on Solana, and whether MOTHER is a hopeful case for crypto, reflecting the evolving relationship between entertainment and Web3 12:35 Whether the market has already topped, given the involvement of celebrities in the industry 15:32 Whether VCs are extractive to the overall space, and how liquid funds and token unlocks impact the performance of assets 21:17 Why venture funds and hedge funds have different approaches to liquid crypto investments, and how memecoins are changing the game for allocators 33:18 Why there’s a 0% chance that SOL gets an ETF this year 34:19 What the recent macro trends point to, whether inflation going down is sustainable, and whether rate cuts are coming 43:32 Why Nvidia's rapid growth is about to trigger a multi-billion dollar rebalance in tech ETFs, and how both $NVDA’s and $AAPL’s stock prices might soon seesaw  54:35 The theories about why the SEC’s chief crypto enforcer David Hirsch resigned from the agency (hint: it might have to do with the election) 59:52 Why James believes Ethereum ETFs will launch on July 2 and what amount of inflows the ETH ETFs might garner, esp. considering potential ETHE outflows Hosts: James Seyffart, Research Analyst at Bloomberg Intelligence Joe McCann, Founder, CEO, and CIO of Asymmetric Guests: Kelly Greer, Vice President of Trading at Galaxy Philip Bonello, Founding Partner at Plaintext Capital Learn more about your ad choices. Visit megaphone.fm/adchoices

19 Jun 20241h 10min

The political landscape in the US is heating up with the November elections, and the crypto industry is watching closely.  In this episode, Anthony Scaramucci, founder of SkyBridge, doesn’t mince words and explains why he believes Joe Biden is the best choice—even for the crypto voter—in the upcoming election, the significance of the Ethereum ETF approval, and how the industry has overcome significant regulatory hurdles.  Scaramucci also shares his insights on the future of Bitcoin ETFs, the role of younger generations in driving crypto policy, and why Solana might be the next big thing.  Show highlights: 02:05 Why Anthony believes there’s only one choice in this election: Joe Biden 07:03 Why he thinks the crypto industry “has already won” 16:27 Whether the crypto industry should trust Trump with his pro-crypto comments 17:20 Why Anthony is convinced that the Biden administration has stopped its anti-crypto stance, even with the veto of the SAB 121 repeal 21:26 Why Anthony believes crypto is becoming a bipartisan issue, and how younger generations are driving this change in Washington 28:05 What three key elements would ideally be included in crypto legislation to ensure clarity and industry involvement in regulation 30:49 What happened to SkyBridge after selling a stake to FTX, and how they are riding the industry's “upswing” 38:00 What developments in Bitcoin ETFs could signal its recognition as an asset class and drive institutional adoption 40:00 What led SkyBridge to abandon its Bitcoin ETF application 43:23 What Anthony thinks is the best pitch for a spot Ether ETF to TradFi, and how expected inflows compare to Bitcoin ETFs 49:11 Anthony’s praise of Laura’s book 51:55 Why Anthony believes a Solana ETF might be the next big thing in crypto, despite SEC scrutiny and the need for a futures market first 55:20 Why SkyBridge is actively seeking new acquisitions and partnering with Parcl, a Solana-based decentralized real estate trading app 59:44 What Anthony's bullish predictions for Bitcoin and Ethereum are in the current cycle 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 Guest: Anthony Scaramucci, Founder and Managing Partner at SkyBridge Links Recent coverage of Unchained on the political scenario in the US: How the U.S. Government Can Protect the Dollar Through Stablecoins Why Many Democrats, Including the White House, Have Come Around on Crypto Senator Cynthia Lummis on Why Crypto Now Has Bipartisan Support in Congress Learn more about your ad choices. Visit megaphone.fm/adchoices

18 Jun 20241h 5min

Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Robert Leshner, and Tarun Chitra explore the latest trends in the crypto world. In this episode, we dive into the impact of celebrity-endorsed memecoins, featuring Iggy Azalea's new coin 'Mother' and Andrew Tate's 'Daddy.' We discuss how these phenomena influence the broader crypto market, recent trends in airdrops, and the challenge of Sybil resistance. Additionally, we explore the permissionless nature of crypto and the trade-offs involved in fun and chaotic projects, including the explosive rise of 'Hamster Kombat.' Tune in for an in-depth look at how pop culture intersects with the core principles of cryptocurrency, shaping current market sentiment. Show highlights 🔹 Crypto Market Sentiment: Discussion on the latest market trends and how inflation numbers are impacting the community.  🔹 Memecoins & Celebrities: Analysis of Iggy Azalea's $Mother and the phenomenon of celebrity-launched memecoins.  🔹 Emerging Memecoins: Insights into new memecoins, including issues with fake and hacked accounts.  🔹 Tap-to-Earn Games: Overview of the rapid growth of simple click-based games like Hamster Kombat.  🔹 Airdrop Controversies: Exploration of recent controversies, particularly involving zkSync and LayerZero, and challenges of Sybil attacks.  🔹 Future Airdrop Strategies: Discussion on the evolution and need for clear, ungameable metrics. Hosts ⭐️Haseeb Qureshi, Managing Partner at Dragonfly  ⭐️Tom Schmidt, General Partner at Dragonfly ⭐️Robert Leshner, CEO & Co-founder of Superstate ⭐️Tarun Chitra, Managing Partner at Robot Ventures Disclosures Learn more about your ad choices. Visit megaphone.fm/adchoices

14 Jun 20241h 4min

Nathaniel Popper just published his latest book, "The Trolls of Wall Street," covering the Wall Street Bets phenomenon. Funnily enough, his book comes at a time when there are striking similarities with the current memecoin mania in crypto.  In this episode, Popper explores the rise of online investing communities like Wall Street Bets and their reflection of broader societal changes, particularly among young men.  He also touches on the parallels between the trolling culture of these communities and the rise of figures like Donald Trump, and delves into the hidden dangers and psychological influences of memes in modern investing. Show highlights: 01:21 The rise of online money communities and the shift towards investing based on ideas rather than traditional financial fundamentals 04:06 How the changing roles of young men in society have influenced the growth of crypto and online financial communities 13:36 How Robinhood's design choices changed retail investing, sparking FOMO and controversy by making trading as easy as a swipe 18:04 The hidden dangers of memes in modern investing, and how they balance fostering community with driving speculation 22:56 Why Trump's ties to the crypto community highlight the mix of serious intent and trolling 30:07 Crypto 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! iTrustCapital Polkadot Guest Nathaniel Popper, author of The Trolls of Wall Street Links Previous coverage of Unchained on memecoins: Unchained: Why Memecoins Have Been 2024's Most Profitable Crypto Trade: Ansem and Kelxyz - Ep. 641 BRETT Becomes First Memecoin on Base to Reach $1 Billion in Market Cap DWF Labs to Invest in Memecoins, Onchain Data Reveals LADYS Transactions Celebrity Tokens Continue to Bleed With Some Memecoin Traders Losing Six-Figures The book: Blockworks: What do memecoins and meme stocks have in common?: A review of ‘The Trolls of Wall Street’ Fortune: Q&A with the author of ‘The Trolls of Wall Street’: Gambling, conspiracies, and the return of Roaring Kitty,  Meme culture WSJ:  Meme Stocks Are Back, but Fund Investors Moved On Meet the ‘Degen’ Traders Fueling the Latest Meme-Stock Mania CoinDesk: In Defense of Meme Coins What else could memecoins be? By Vitalik Buterin Learn more about your ad choices. Visit megaphone.fm/adchoices

14 Jun 202446min

Robinhood has been in the spotlight for its $200 million acquisition of European crypto exchange Bitstamp. The TradFi app’s venture into crypto is paying off: its recent earnings showed that revenue is growing substantially, and the Bitstamp acquisition is just one way the company will grow the pie. Johann Kerbrat, general manager of Robinhood Crypto, came on the show to discuss the acquisition, Robinhood's plans for expanding its crypto business internationally and into the institutional market, the company's approach to listing crypto assets, how regulation has affected its business decisions, and its efforts to bridge traditional finance and decentralized finance. Show highlights: 02:14 How the acquisition of Bitstamp will reshape Robinhood 08:51 Whether Robinhood could list more coins and whether it’s considering more acquisitions 11:54 Whether the U.S.’s unclear crypto regulation influenced the decision to acquire Bitstamp and which other jurisdictions, besides the EU, Robinhood Crypto is eyeing 17:46 Why Johann was disappointed by the Wells notice Robinhood received from the SEC 20:47 Johann’s U.S. crypto regulation wish list and why Robinhood supports the FIT21 bill 24:09 Why Robinhood delisted ADA, MATIC, and SOL, and the process for listing or delisting a coin on the platform 29:49 Johann’s background in crypto and trajectory at Robinhood Crypto 31:35 How Robinhood is uniquely poised to help bring real-world assets and securities on-chain, and how it will handle offerings for institutional investors 37:48 The impact and importance of the introduction of spot bitcoin ETFs 44:26 Why Robinhood decided to offer staking, but only for Solana, not Ethereum 46:11 Whether there’s demand for crypto-native features in the Robinhood platform 48:26 Robinhood’s collaboration with Arbitrum and whether the company might build their own Layer 2 54:29 Johann’s take on the memecoin mania and whether Robinhood could list them 59:26 What Johann thinks about the political fight around crypto in the U.S. 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 Guest: Johann Kerbrat, general manager of Robinhood Crypto Links Acquisition of Bitstamp:  Unchained: Q&A With Robinhood Crypto General Manager: Why the Crypto Giant Went to the EU Fortune: Robinhood defies the SEC by forking over $200 million for a crypto exchange DL News: Robinhood crypto head says Bitstamp will help lure wealthy investors Robinhood’s crypto business: Bloomberg: Robinhood (HOOD) Profit Beats Estimates as Crypto Revenue Surges Robinhood Reports First Quarter 2024 Results Regulatory actions: Reuters: Robinhood Crypto gets Wells notice from US SEC  Robinhood Crypto Launches Staking in Europe with Localized Apps to Follow Memecoin mania Unchained:  Celebrity Tokens Continue to Bleed With Some Memecoin Traders Losing Six-Figures  Why Memecoins Have Been 2024's Most Profitable Crypto Trade: Ansem and Kelxyz Ether ETFs: Unchained:  Ethereum ETFs Likely Protect Ether From the SEC. But What About Staked ETH?  Why the SEC May Not Be Done in Its Legal Battles Over Ethereum Kerbrat’s statement on ETFs Learn more about your ad choices. Visit megaphone.fm/adchoices

11 Jun 20241h 5min

Coinbase’s “onchain summer” has kicked off with the launch of its new smart wallet. This interview with Luke Youngblood, founding contributor to Moonwell, gives a peek at how it’s sweetening the pot for developers and users alike.  In this episode, Youngblood describes how smart wallets are different from traditional wallets, how they do away with past security issues, and the more minor potential risks that still do exist with smart wallets. He also gives details on the ways that Coinbase is trying to use its smart wallet to get users onchain: making it much easier to transact onchain directly from their Coinbase accounts, subsidizing gas costs for certain dapps, and making sure everything is web-accessible.  Plus, he explains why Moonwell chose Base, how it is branching out to non-crypto native DeFi users, such as populations that only have mobile phones and not desktop computers in geographies like Africa, Latin America, and Asia, and how the DeFi lending protocol differentiates itself from bigger ones that have established a beachhead on Base.  Show highlights: (00:00) Intro (01:40) How smart wallets differ from traditional wallets and embedded wallets (04:06) Why Luke is excited to be working with Coinbase smart wallet (06:33) What happens if the user loses the device linked to their smart wallet (08:12) How hard it would be for a hacker to try to get access to the assets in this smart wallet (09:36) How Coinbase is initially paying for user gas fees on dapps like Moonwell and other launch partners (12:02) How Coinbase’s Magic Stand feature enables users to transact onchain straight from their Coinbase accounts (14:24) How Coinbase might keep paying gas fees for some dapps even after the initial launch period (16:38) Why the smart wallet is also accessible via the web, and not just through an app (19:50) Why Moonwell has focused on lending and borrowing (18:03) Why Moonwell chose to build on Base as opposed to, say, Solana (21:24) Moonwell’s plans to grow  (23:00) How having access to Coinbase’s user base changes Moonwell’s strategy for attracting users (26:14) Crypto 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! iTrustCapital Polkadot Guest Luke Youngblood Links Previous coverage on Unchained: Coinbase Smart Wallet: Coinbase Launches Its Smart Wallets, Dubbing It Crypto’s ‘IPhone Moment’ Wallets:  Why (Almost) Everyone in Ethereum Is So Excited About a Wallet-Related Proposal What Are Externally Owned Accounts (EOAs) in Ethereum? An Introduction to ERC-4337 (Account Abstraction) Standard Base:  How Ethereum’s Dencun Upgrade Could Lead to the Rise of Millions of Layer 3s Dencun Day One: Ethereum Layer 2 Networks See Drastic Drop in Transaction Fees Base Daily Transactions Spike to 2 Million Post Dencun Upgrade  Why Base’s Creator Thinks Social Apps Will Be a ‘Huge Part’ of the Layer 2 Blockchain’s Success Base TVL Hits $4 Billion as Transactions Per Second Surpass Ethereum 3 Reasons Why Layer 2 Network Base Has More Than Doubled Its Total Value Locked This Year Ethereum Layer 2s: Ethereum L2 Networks Reach Record High of 7 Million Distinct Addresses Learn more about your ad choices. Visit megaphone.fm/adchoices

7 Jun 202442min

In this episode of Bits + Bips, hosts James Seyffart, Alex Kruger, and Joe McCann, along with guest Hal Press, founder of North Rock Digital, dive into the intricate challenges of pitching the ETH spot ETF to traditional finance and the Federal Reserve’s anticipated next steps. They discuss why Biden vetoed the repeal of SAB 121, and why that veto lends credence to an alternative theory as to why the SEC approved Ethereum ETFs.  Also, they talk about why the spot ETH ETFs are already turning out to be different from the Bitcoin ETFs, Hong Kong's (and perhaps China’s?) crypto ambitions, recent U.S. macroeconomic indicators, and whether or not Roaring Kitty’s recent antics with GME stock are illegal—and how he’s impacting memecoins.  Show highlights: Why Biden vetoed the repeal of SAB 121 and whether it was priced in The recent political change around crypto and the surprise Gen Z celebrity who could swing the U.S. presidential election The impact of the Trump conviction on the crypto industry Why ETF issuers were caught off guard with the spot ETH ETF approvals Whether Bitcoin ETF buyers will rotate to Ethereum, and when the products will launch  How the ETH ETF will be pitched to TradFi  Why Alex thinks ETH/BTC will go up  How Hong Kong is trying to become the Wall Street of crypto, according to Joe The recent macroeconomic indicators in the U.S. and their implications for crypto The massive glitches in the NYSE that showed Berkshire Hathaway going down 99% Whether what Roaring Kitty is doing with the GME stock is illegal Hosts: James Seyffart, Research Analyst at Bloomberg Intelligence Alex Kruger, Founder of Asgard Joe McCann, Founder, CEO, and CIO of Asymmetric Guest: Hal Press, Founder of North Rock Digital Links Politics:  Unchained: President Biden Vetoes SAB121 Repeal Unchained: FIT21 Bill Heads to The Senate: Should We Really Be Excited? POLITICO: Crypto super PACs get $25M boost Fortune: Coinbase donates $25 million to super PAC Fairshake days after Biden vetoes crypto custody bill Ether ETFs: Unchained:  Ethereum ETFs Likely Protect Ether From the SEC. But What About Staked ETH?  Why the SEC May Not Be Done in Its Legal Battles Over Ethereum Why ETH Spot ETFs Could Benefit Stakers and Make Ethereum More Resilient ETH ETFs Will Be Approved. But Could Grayscale Outflows Depress the Price of ETH? Blockworks: What we learned from the latest ETH ETF filing dump Hong Kong Bloomberg: Hong Kong Says 11 Crypto Exchanges Are Closer to Getting Permits Other recent events:  CNN Business: Berkshire Hathaway: NYSE says glitch that showed stock down 99.97% has been resolved  WSJ: E*Trade Considers Kicking Meme-Stock Leader Keith Gill Off Platform  TIMESTAMPS 00:00 Intro 01:59 Why Biden vetoed the repeal of SAB 121 and whether it was priced in 08:43 The recent political change around crypto and whether this particular Gen Z celeb could swing the U.S. presidential election 12:07 What the impact of the Trump conviction had in the crypto industry 15:38 Whether Bitcoin ETF buyers will rotate to Ethereum, and when the ETH ETFs will launch  25:53 How the ETH ETF will or should be pitched to TradFi  31:02 Why Alex thinks ETH/BTC will go up  32:48How Hong Kong is trying to become the Wall Street of crypto, according to Joe 36:27 The recent macroeconomic indicators in the U.S. and their implications for crypto 45:15 The massive glitches in the NYSE that showed Berkshire Hathaway going down 99% 49:26 Whether what Roaring Kitty is doing with the GME stock is illegal Learn more about your ad choices. Visit megaphone.fm/adchoices

5 Jun 202457min