Hyperliquid Saved Itself a $15 Million Loss, but Sparked Criticism - Ep. 807

October started with hopes for “Uptober”—a positive price trajectory in October—in the Bitcoin community, since, historically, Bitcoin has performed well this month. But things took a turn when geopolitical tensions in the Middle East escalated, raising concerns about how that could affect Bitcoin’s price this month.  In this episode, André Dragosch, European Head of Research at Bitwise, talks about how Bitcoin typically responds to geopolitical shocks, whether this could present a buying opportunity, and how major events like the U.S. elections might shape Bitcoin’s future. Show highlights: How Bitcoin’s reacted to the geopolitical escalations Why André believes this is a buying opportunity How there was a macro capitulation after the beginning of the unwind of the Japan carry trade in August Whether Bitcoin can truly act as a safe haven asset How the clientele of ETFs have changed the market structure for Bitcoin Whether ‘Uptober’ is canceled How Andre expects Bitcoin will perform depending on the winner of the U.S. elections 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 Mantle’s FBTC Guest André Dragosch, European Head of Research at Bitwise Bitcoin as a Safe-Haven: Hedging Against Geopolitical Risks Links Previous coverage of Unchained on the recent market movements:: Investors Ditch Bitcoin, Scoop Up Gold, as Iran-Israel Tensions Escalate $500 Million Liquidated From Crypto Markets Cools ‘Uptober’ Enthusiasm Unchained:  Bitwise CIO Matt Hougan’s thread on how bitcoin & gold have performed BlackRock’s bitcoin report  Timestamps: 00:00 Intro 01:14 How Bitcoin's price reacts to geopolitical tensions 03:17 Whether this could be a buying opportunity 08:54 Macro capitulation after the start of the Japan carry trade unwind 11:02Can Bitcoin act as a safe haven asset? 16:12 How ETFs have changed Bitcoin's market structure 20:28 Is ‘Uptober’ canceled? 24:17 Bitcoin’s future based on U.S. election outcomes 28:45 News Recap Learn more about your ad choices. Visit megaphone.fm/adchoices

4 Okt 202440min

AI and crypto are two of the hottest topics of the decade, but are there any projects truly making waves at the intersection of both? Bittensor, an open-source, decentralized AI network, is positioning itself as a leader in this space, with its TAO token seeing explosive growth and its model challenging traditional centralized AI companies. In this episode, we’re joined by Joseph Jacks, aka JJ, founder of OSS Capital, and Sami Kassab, partner at OSS Capital, to explore why they’ve gone all-in on Bittensor. They discuss how Bittensor works, what makes it different from centralized AI models, and why they believe this project could be transformative for both crypto and AI. Show highlights: OSS Capital’s background and how they got to invest in Bittensor Why Sami and JJ are bullish on TAO What the three roles in the Bittensor ecosystem are How new subnets incentivize miners to develop AI models Why it’s so expensive to launch a subnet Why Bittensor was built on the Polkadot SDK The pros and cons of rolling out EVM compatibility  What Allora and Commune AI are focused on within the ecosystem How Bittensor can compete with the big AI companies  The dangers AI poses to humanity and whether Bittensor can mitigate them 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 Mantle Guests: Joseph Jacks, Founder and General Partner of OSS Capital Sami Kassab, Partner at OSS Capital Links Previous coverage of Unchained on Crypto/AI:  Erik Voorhees' New Venture: Why AI Desperately Needs Privacy and Uncensorability When AI and Blockchain Meet, How Can Each Technology Benefit? The Chopping Block: Why AI Will Change the Course of History in Crypto Learn more: A Beginner's Guide to AI Tokens 5 Use Cases of AI in Blockchain Bittensor: Bittensor’s website The game theory of TAO Nous Research leaving Bittensor  Seth Bloomberg’s tweet on “Bittensor’s Network Effects” Cost of building a subnet Commune.ai Allora Network Timestamps: 00:00 Intro 02:39 Background of OSS Capital and investing in Bittensor 19:06 Why Sami and JJ are bullish on TAO 24:51 The three roles in the Bittensor ecosystem 35:00 How subnets incentivize AI model development 47:50 Why launching a subnet is expensive 50:12 Bittensor’s foundation on the Polkadot SDK 53:00 Pros and cons of EVM compatibility 1:03:03 Focus areas for Allora and Communi 1:06:48 How Bittensor competes with big AI companies 1:09:19 JJ’s take on AI dangers and Bittensor’s role Learn more about your ad choices. Visit megaphone.fm/adchoices

1 Okt 20241h 20min

With Bitcoin ETF options on the horizon, the crypto market is bracing for significant changes. In this episode, Joshua Lim, co-founder and CEO of Arbelos Markets, joins us to explain what the launch of Bitcoin ETF options means for the broader market. Could they unlock vast amounts of capital and set off a new altcoin boom? Josh also dives into the potential effects on Bitcoin volatility, DeFi lending, and even the onchain options markets. Plus, what could the 2024 U.S. presidential election mean for Bitcoin? Show highlights: What are options and why they are significant for bitcoin ETFs How they will affect the price of BTC When options will actually launch and what needs to be done How the launch of IBIT options could lower Bitcoin volatility and compress spreads Whether dominant players in derivatives will suffer from this launch How the launch of options could lead to an “altcoin boom” Why Josh thinks the SEC delayed its decision on ether ETF options How rising Bitcoin options interest could trigger volatility during major options expiries What Josh thinks the impact of the US presidential election will be on the markets Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com Thank you to our sponsors! Coinbase iTrustCapital Polkadot Mantle’s FBTC Guest: Joshua Lim, Co-founder and CEO of Arbelos Markets Links Approval for BlackRock’s IBIT The Block: Bitcoin ETFs set to attract liquidity and speculation as IBIT options trading gains approval CoinDesk: BlackRock Bitcoin ETF Options to Set Stage for GameStop-Like 'Gamma Squeeze' Rally, Bitwise Predicts Decrypt: SEC Hits Pause on Ethereum ETF Options Following Bitcoin Nod - Timestamps:  00:00 Intro 01:48 What Bitcoin ETF options are and why they’re significant 05:41 Impact on BTC price 08:17 When Bitcoin ETF options will launch 10:03 How IBIT options could reduce volatility 15:53 Will dominant players in derivatives be affected? 20:40 How options could trigger an altcoin boom 24:12 Thoughts on potential ether ETF options approval 24:47 Rising Bitcoin options interest and volatility risks 28:22 Impact of the 2024 US election on crypto markets 31:48 News Recap Learn more about your ad choices. Visit megaphone.fm/adchoices

27 Sep 202443min

Listen to the episode on Apple Podcasts, Spotify, Pods, Fountain, Podcast Addict, Pocket Casts, Amazon Music, or on your favorite podcast platform. In this episode of Bits + Bips, hosts James Seyffart, Alex Kruger, and Joe McCann are joined by Sam Callahan of The NewsBlock to explore how macroeconomic factors and liquidity conditions are driving Bitcoin’s price. They dive into the Federal Reserve's recent rate cuts, the impact of Solana's token unlocks, and why many investors are concerned about a potential liquidity crunch. Plus, the panel discusses whether Bitcoin’s price is increasingly dependent on global M2 money supply, and how BlackRock’s Bitcoin ETF options could impact the market.  Is Bitcoin simply a leveraged macro bet? And could Solana’s unlocks cause a price squeeze?  Show highlights: Alex and Joe’s takeaways from Token 2049 and Solana Breakpoint Why there’s so little attention on Bitcoin at these conferences The SOL vs. ETH trade debate Why Sam thinks that the Fed cut rates to help the Treasury Whether they think inflation will persist  How China's rate cuts aim to boost its economy amidst export challenges How Bitcoin's correlation with global liquidity can break down during speculative bull runs, despite its typical sensitivity to liquidity conditions The pros and cons of the approval of Bitcoin ETF options Why fears about BlackRock and Coinbase's bitcoin holdings are unfounded, according to James Sponsors: Gemini Stellar  Hosts: James Seyffart, Research Analyst at Bloomberg Intelligence Alex Kruger, Founder of Asgard Joe McCann, Founder, CEO, and CIO of Asymmetric Guest: Sam Callahan, Current Free Agent Analyst & Scribe of the NewsBlock Sam’s research post with Lyn Alden Links Coverage of Unchained on Token 2049 and Solana Breakpoint: Should the Solana Foundation Be Dissolved? Yes... and No... $1.3 Billion Market Cap BONK Caught Asymmetric Financial's Eye at $28 Million, Founder Tells Solana Breakpoint Event Bring Back ICOs, Says Multicoin Capital’s Tushar Jain, Winning Agreement From Debate Adversary Qiao Wang of AllianceDAO PYTH Stakers Get Carrots and Sticks as Douro Labs Rejigs Staking Mechanism DeFi Protocol Sky, Formerly MakerDAO, to Launch on Solana Blockchain Firedancer Efforts Bring Solana a Step Closer to Leap in Processing Power, Says Jump Trading’s Science Chief  Stoner-Originated Proof-of-Liquidity Network Berachain Scores a Hit at Token2049  SOL vs. ETH Unchained: SOL on Course to Flip ETH, Says Multicoin Capital’s Kyle Samani Alex’s tweet: “Ironically $SOLETH is barely up in 2024” Rate cuts and macro: Fed Cuts Rates for First Time Since 2020 China: Reuters: China's central bank unveils most aggressive stimulus since pandemic |  ETF options: CoinDesk: BlackRock Bitcoin ETF Options to Set Stage for GameStop-Like 'Gamma Squeeze' Rally Decrypt: SEC Hits Pause on Ethereum ETF Options Following Bitcoin Nod -  Kamala Harris: Unchained:  Kamala Harris Makes Her First Comments on Crypto Harris Commits to Prioritizing Emerging Industries Like Blockchain in Speech Timestamps: 00:00 Intro 02:55 Takeaways from Token 2049 and Solana Breakpoint 07:14 Little Bitcoin interest me at conferences 12:23 The SOL vs. ETH trade debate 17:32 Sam’s view on the Fed’s rate cuts 28:55 Will inflation persist? 41:14 China’s rate cuts and economic boost 49:44 Bitcoin’s correlation with global liquidity 1:02:43 Pros and cons of Bitcoin ETF options 1:13:23 BlackRock and Coinbase Bitcoin holdings fears Learn more about your ad choices. Visit megaphone.fm/adchoices

26 Sep 20241h 18min

The Fed just made its first rate cut in years, slashing 50 basis points off interest rates—but what does this mean for the crypto markets? With Bitcoin lagging behind traditional finance, and the looming U.S. elections, uncertainty is growing.  In this episode, Quinn Thompson of Lekker Capital and Travis Kling of Ikigai Asset Management break down the major factors influencing the markets: from Bitcoin’s sluggish summer and the unwinding of the Japan yen carry trade, to why the 2024 elections could be a pivotal moment for crypto. Are these the catalysts we’ve been waiting for, or should we brace for more turbulence ahead? Also, they cover which assets could benefit the most under a Trump administration, and why they believe SOL could have a negative catalyst in the near future. Show highlights: Why the Fed cut rates by 50 basis points and what the chances of a recession are in the U.S. Why Bitcoin has underperformed the broader TradFi markets this summer The risks of the unwinding of the Japan carry trade for crypto How the election results might matter differently for different sectors of the industry Whether rate cuts affect stablecoin yields in DeFi  How the approval of Bitcoin ETF options will affect the price of BTC Whether Bitcoin miners will be affected by AI’s need for computing power Ether’s lagging performance this year and what might be a huge catalyst for ETH How SOL will manage through the huge unlock in early 2025 What Quinn and Travis think about investing in memecoins How the rise of Base will impact Coinbase 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 Mantle Gemini Guests: Quinn Thompson, CIO of Lekker Capital Travis Kling, Founder and CIO of Ikigai Asset Management Previous appearance on Unchained: With the Merge, Will Ethereum Take Over Bitcoin’s Title as Digital Gold Links Rate cuts Unchained:  Fed Cuts Rates for First Time Since 2020; Bitcoin Remains Mostly Flat Fed Rate Cut Should Spur Crypto Investors to Load up on Memecoins, Asymmetric Founder Tells Token2049 Bitcoin Is Now in a ‘Classic Setup’ to Surge Higher Soon, Analysts Say Bitcoin and the Crypto Markets Slump as Fed Faces Tough Rate Cut Decision What Do Cooling Inflation and Rate Cuts Mean for Crypto and Bitcoin Prices? ETH performance and L2s: Unchained:  SOL on Course to Flip ETH, Says Multicoin Capital’s Kyle Samani Ether Has Been a Much Worse Investment Than Both Gold and Silver So Far This Year Are L2s 'Parasitic'? Analysis Shows Ethereum Only Gets a Tiny Percentage of Fees Alex Kruger’s tweet: “Ironically $SOLETH is barely up in 2024” Bitcoin ETF options: CoinDesk: BlackRock Bitcoin ETF Options to Set Stage for GameStop-Like 'Gamma Squeeze' Rally, Bitwise Predicts Mining and AI: TIME: Why So Many Bitcoin Mining Companies Are Pivoting to AI Timestamps: 00:00 Intro 02:09 Fed rate cut and recession chances 12:34 Bitcoin’s underperformance this summer 14:56 Risks of Japan carry trade unwinding 21:3 Election impacts on crypto sectors 38:00 Rate cuts and DeFi stablecoin yields 43:00 Bitcoin ETF options 49:31 AI’s impact on Bitcoin miners 54:38 Ether’s lagging performance and future catalysts 1:03:19 SOL’s 2025 unlock concerns 1:10:39 Investing in memecoins 1:18:15 Base’s rise and Coinbase impact Learn more about your ad choices. Visit megaphone.fm/adchoices

24 Sep 20241h 21min

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. This week the squad is live from Token2049 in Singapore and joined by special guests Mo Shaikh, CEO and Co-Founder of Aptos Labs, and Arthur Hayes, CIO at Maelstrom. In this episode, they tackle the buzz around Trump’s DeFi projects, the challenges of hosting Token2049 during F1, and the controversy surrounding Iggy Azalea’s cancelled debate. The conversation also covers the macro impact of potential Fed rate cuts, the role of celebrity coins, and the future of global crypto adoption. Don't miss this insightful live discussion in front of the Token2049 audience! Show highlights 🔹 Token2049 Event: Token2049 faced logistical challenges due to Singapore’s F1 weekend, resulting in heavy traffic and delays for attendees. 🔹 Canceled Celebrity Coin Debate: Iggy Azalea’s debate with Eric Wall about celebrity coins was canceled due to conflicts with Singaporean regulations, which prevented her planned on-stage stunts. 🔹 World Liberty Financial Overview: The Trump family’s DeFi project, World Liberty Financial, is scrutinized for its lack of clear direction and concerns over the 70% insider token pre-allocation. 🔹 Fed Rate Cuts and Market Implications: Potential Fed rate cuts and their impact on the dollar-yen exchange rate could lead to liquidity crises and increased market volatility. 🔹 Celebrity Coins and Memecoins: A look into celebrity coins and memecoins raises questions about their value, considering whether they bring meaningful attention to crypto or are merely speculative distractions. 🔹 Korea vs. Japan in Crypto: Korea’s active crypto trading culture and crypto-friendly policies contrast with Japan’s more cautious, restrictive approach, reflecting different market dynamics. 🔹 Global Crypto Adoption Rankings: Skepticism is expressed regarding India’s top spot in Chainalysis’ Global Crypto Adoption Index, with a case made for Korea ranking higher than 19th. 🔹 Aptos and Mainstream Adoption: Aptos is pushing for mainstream adoption through partnerships in Korea and innovations like the Aptos card, offering integrated cold storage and new financial products. Hosts ⭐️Haseeb Qureshi, Managing Partner at Dragonfly  ⭐️Tom Schmidt, General Partner at Dragonfly  ⭐️Tarun Chitra, Managing Partner at Robot Ventures Guest ⭐️ Mo Shaikh, CEO and Co-Founder of Aptos Labs ⭐️ Arthur Hayes, CIO at Maelstrom Disclosures Links The 2024 Global Adoption Index: Central & Southern Asia and Oceania (CSAO) Region Leads the World in Terms of Global Cryptocurrency Adoption: https://www.chainalysis.com/blog/2024-global-crypto-adoption-index/  Timestamps  0:00 Intro 00:49 TOKEN2049  06:20 $10 Billion FDV? World Liberty Financial 16:10 Allure of Memecoins & Celebcoins 19:06 Beyond Memecoin Adoption 20:27 Global Crypto Adoption Ranking 24:43 Korea vs. Japan's Crypto Scenes 29:19 Macro Trends and Fed's Impact 35:26 Crypto's Resilience Against Regulation 40:00 The Future of Crypto and Decentralization Learn more about your ad choices. Visit megaphone.fm/adchoices

23 Sep 202445min

This week, Republican Representatives Tom Emmer and Patrick McHenry sent a letter pressing SEC Chair Gary Gensler for clarity on how securities laws apply to airdrops. With billions of dollars worth of tokens airdropped this year alone, projects need clarity more than ever.  In this episode, Amanda Tuminelli, Chief Legal Officer of the DeFi Education Fund, dissects the SEC’s stance on airdrops, why her organization believes the SEC has stretched the legal definition of “compensation” too far, and what Congress might ask Gensler in his upcoming hearing. Plus, she talks about how the SEC “regrets” any confusion it caused for using the term “crypto assets securities,” since the agency now admits that tokens themselves are not securities.   Show highlights: Why Amanda believes the SEC’s position on airdrops doesn’t make sense Why the DeFi Education Fund sued the SEC over the BEBA airdrop  How the SEC’s position on airdrops has been clear for a while, but is “wrong” according to Amanda Her take on users bypassing the geographic restrictions to claim airdrops in the U.S. How and why the SEC has changed its language around “crypto assets securities” How the SEC’s new position on crypto assets implicating securities laws seems to rest on the “embodiment” theory Why Amanda believes the Supreme Court or Congress may be needed to step in What Amanda expects Congress to question Gary Gensler about in the hearing next week Amanda’s takeaways from the first Congressional DeFi hearing last week How she expects the presidential election will impact the regulatory landscape 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! Coinbase iTrustCapital Polkadot Mantle Stellar Guest Amanda Tuminelli, Chief legal officer of the DeFi Education Fund Previous appearances on Unchained:  Gary Gensler’s Case Against Uniswap: Does the SEC Even Stand a Chance? Is This the End of DeFi? Why the US Government Is Going After Tornado Cash Links Airdrops: Blockworks: Republican Reps. ask Gensler for clarity on how securities laws apply to airdrops -  Gabriel Shapiro’s tweet: “We may *disagree* that the position is correct but it's not unclear.” CoinDesk: Crypto Airdrops Ban U.S. Users, but Americans Are Claiming Tokens Anyway SEC’s amended complaint in the Binance case BEBA case DeFi Education Fund suing the SEC  First Congressional Hearing on DeFi Unchained: First Congressional Hearing on DeFi Highlights Divide Between Republicans and Democrats Timestamps: 00:00 Intro 01:42 SEC’s stance on airdrops 04:25 DeFi Education Fund’s lawsuit over BEBA 06:47 Amanda: SEC’s position on airdrops is “wrong” 08:27 Users bypassing geographic restrictions for airdrops 12:47 Why the SEC suddenly apologized for using the term “crypto asset securities” for years 16:47 Amanda’s take on what the SEC’s new theory is for why tokens fall under securities laws 17:43 Why Supreme Court or Congressional involvement is likely needed 19:01 What Congress might ask Gensler in a hearing next week 19:59 Key takeaways from the first Congressional DeFi hearing 20:43 Amanda’s take on how the presidential election might impact crypto  23:45 News Recap Learn more about your ad choices. Visit megaphone.fm/adchoices

20 Sep 202435min

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. This week, the squad is joined by special guest Mert Mumtaz, co-founder of Helius. In this episode, the crew dives into the growing rivalry between SVM and EVM, the surge of VC investments in the Solana ecosystem, and the fierce debate over rollups. They also explore the rise and fall of memecoins, Solana’s infrastructure evolution, and the future for high-performance blockchains. Tune in for a high-energy discussion on the cutting edge of crypto! Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show highlights 🔹 SVM vs. EVM Showdown: The team breaks down the growing battle between Solana's SVM and Ethereum's EVM, examining what’s at stake for both ecosystems. 🔹 VC Investments in Solana: As VC interest in Solana surges, the crew discusses how this new wave of funding could reshape the future of blockchain development. 🔹 Memecoin Chaos: The rapid rise and fall of memecoins comes under fire, with a debate on whether they are a net positive or simply speculative noise in the market. 🔹 Solana’s Infrastructure Evolution: Solana's ongoing efforts to improve scalability and performance are highlighted, especially with innovations like Fire Dancer and ZK compression. 🔹 Network Extensions Controversy: A heated discussion on Solana’s push to rebrand rollups as “network extensions,” sparking backlash from Ethereum proponents. 🔹 VC vs. Market Sentiment: The role of venture capital in the crypto space is examined, with insights into whether VCs are driving innovation or creating unsustainable hype. 🔹 Solana Breakpoint Preview: Excitement builds around Solana’s flagship event, with predictions on what key announcements could impact the blockchain’s future. Hosts ⭐️Haseeb Qureshi, Managing Partner at Dragonfly  ⭐️Tom Schmidt, General Partner at Dragonfly  ⭐️Tarun Chitra, Managing Partner at Robot Ventures Guest ⭐️ Mert, Co-founder & CEO at Helius Disclosures Timestamps 0:00 Intro 02:02 Impressions of Singapore 07:55 Mert's Journey & Solana Advocacy 15:41 Challenges & Growth in Solana Ecosystem 21:01 EBOLA [EVM Bags Over Logic Affliction] 31:13 Solana's Resilience  34:38 The Rise of SVM and Developer Perspectives 41:41 Network Extensions vs. Rollups 51:08 Future of High-Performance Blockchains 59:47 AI's Impact on Developer Ecosystems 01:06:19 Memecoins and Market Dynamics Learn more about your ad choices. Visit megaphone.fm/adchoices

19 Sep 20241h 13min