Bits + Bips: Hyperliquid’s USDH Bidding War & Why the DAT Model Is Broken - Ep. 900
Unchained10 Sep 2025

Bits + Bips: Hyperliquid’s USDH Bidding War & Why the DAT Model Is Broken - Ep. 900

The fight for Hyperliquid’s USDH stablecoin is more than a ticker battle—it’s a referendum on how crypto distribution, governance, and incentives will shape the next trillion-dollar market. In this episode of Bits + Bips, Steve Ehrlich sits down with Delta Blockchain Fund’s Kavita Gupta, Galaxy Digital’s Alex Thorn, and Frax founder Sam Kazemian to dig into the big questions: Who will win the USDH war, and why does distribution matter more than design? Are DATs fulfilling their promises—or raising money without accountability? Why are L2s the wrong place for tokenized stocks? And where exactly is the trillion-dollar opportunity in stablecoins? Sponsors: Xapo Walrus Host: Steve Ehrlich, Executive Editor at Unchained Guests: Kavita Gupta, Founder & Managing Partner of Delta Blockchain Fund Alex Thorn, Head of Firmwide Research at Galaxy Digital Sam Kazemian, Founder of Frax Finance Links: Unchained: The Competition Is On. Who’ll Win the USDH Ticker on Hyperliquid? Stablecoin Issuers Enter Bidding War to Launch Hyperliquid’s USDH Sky Joins Bidding War to Launch Hyperliquid’s USDH Timestamps: 🎬 0:00 Intro 🔥 4:17 The bidding war for Hyperliquid’s USDH 🗳️ 25:12 Whether the Hyperliquid DAO is truly decentralized ⚠️ 29:22 Are DATs already broken as a product? 🌶️ 35:00 How some DATs avoid fulfilling their promises after raising money 📈 40:27 Why yield-maximization is critical for DATs—and what risks it creates 💵 53:22 Where the trillion-dollar opportunity in stablecoins might actually be 🏛️ 55:35 Why tokenized stocks belong on L1s, not L2s Learn more about your ad choices. Visit megaphone.fm/adchoices

Avsnitt(1085)

DEX in the City: How Prediction Markets Pose a National Security Risk

DEX in the City: How Prediction Markets Pose a National Security Risk

The crew discusses whether prediction markets enable “Bloomberg terminal espionage,,” wonder how to regulate markets that could be on anything, dive into why the OCC is saying no to stablecoin yield a...

5 Mars 52min

The Chopping Block: Has Crypto Lost Its Soul? Cypherpunk Nostalgia, Prediction Markets, & Permissionless Perps

The Chopping Block: Has Crypto Lost Its Soul? Cypherpunk Nostalgia, Prediction Markets, & Permissionless Perps

Crypto’s vibe check time: Jez (izebel_eth) joins the crew to dissect whether idealism is RIP, if cypherpunks should abandon hope, how Memecoins and asset mayhem changed the game, why prediction market...

5 Mars 59min

Why Crypto Has a Good Long-Term Setup Right Now: Bits + Bips

Why Crypto Has a Good Long-Term Setup Right Now: Bits + Bips

A major war broke out in the Middle East, but Bitcoin didn’t break. One veteran investor says that price action reveals something important about where crypto stands today. --- Bits + Bips is spread...

4 Mars 56min

Bits + Bips: Is Crypto the Only Asset That Works When Geopolitics Breaks Down?

Bits + Bips: Is Crypto the Only Asset That Works When Geopolitics Breaks Down?

US and Israeli strikes killed Iran's Supreme Leader and initially rattled markets. But does the subsequent market calm reflect genuine resilience or a dangerous underpricing of what comes next? --- ...

4 Mars 58min

Bits + Bips: What Happens to Markets Now That the U.S. Has Struck Iran?

Bits + Bips: What Happens to Markets Now That the U.S. Has Struck Iran?

A former Clinton and Biden foreign policy advisor saw it before it happened. Now the question is what investors do next. Hours after this episode was recorded, the United States and Israel launched...

2 Mars 41min

Uneasy Money: Why the AI Singularity May Already Be Out of Our Hands

Uneasy Money: Why the AI Singularity May Already Be Out of Our Hands

MegaETH's Namik Muduroglu joins the Uneasy Money crew to discuss how the industry can fix token incentives, the continued escalation of the Aave civil war and more. Thank you to our sponsors! ⁠⁠...

28 Feb 1h 12min

Can Solana Edge Out Ethereum to Win the AI Agent & RWA Race?

Can Solana Edge Out Ethereum to Win the AI Agent & RWA Race?

Tushar Jain and Mike Ippolito make the bull case for Solana as competition heats up. Thank you to our sponsors! Fuse: The Energy Network – Shift your energy use and earn rewards. MultiChai...

27 Feb 1h 23min

DEX in the City: Why Everyone Is Overreacting About the Terra v. Jane Street Lawsuit

DEX in the City: Why Everyone Is Overreacting About the Terra v. Jane Street Lawsuit

Robinhood's Coy Garrison and Seong Seog Lee join the crew to unpack the Robinhood Chain launch strategy. Thank you to our sponsors!  ⁠MultiChain Advisors Robinhood's proposed chain for the tra...

27 Feb 58min

Populärt inom Politik & nyheter

aftonbladet-krim
rss-krimstad
p3-krim
motiv
fordomspodden
blenda-2
flashback-forever
aftonbladet-daily
spar
rss-sanning-konsekvens
svenska-fall
olyckan-inifran
svd-ledarredaktionen
rss-krimreportrarna
krimmagasinet
rss-frandfors-horna
rss-vad-fan-hande
rss-flodet
dagens-eko
grans