Unchained Laura Shin

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

In this episode, Laura Shin speaks with former CFTC chairman Chris Giancarlo and former CFTC chief innovation officer Daniel Gorfine on the pressing need for the U.S. to safeguard the dollar. They explain why they believe the future of regulation is the government operating nodes on blockchains rather than regulating intermediaries, why even private USD stablecoins will want a USD central bank digital currency, and how China might export the technology behind the digital yuan—and its surveillance capabilities—to other countries. They also touch on how the upcoming U.S. elections could influence crypto policy, why stablecoins are more than just trading instruments, and what the U.S. must do to maintain its financial leadership.
Show highlights:

How governments should embrace blockchain technology to become better at its job, according to Chris

How the financial system needs to change for the younger generations

Whether the U.S. is losing ground in terms of innovation

Why Daniel thinks stablecoins are much more than a trading instrument for crypto

Why Daniel believes that the U.S. is making the regulation of stablecoins “far more complicated than it needs to be”

How Singapore is already giving licenses to USD stablecoin issuers

Whether the dollar should be trademarked to protect it

How Tether has become one of the most profitable companies per employee in history without being under U.S. jurisdiction

Who should be the next chair of the SEC and the need to regulate DeFi in order for it to become mainstream

Why Daniel thinks that some of the criticism of the FIT21 bill “doesn’t hold water”

Why Chris believes that China is lying about not intending to export the technology behind the digital yuan

Whether algorithmic stablecoins should be banned, as proposed in the Lummis-Gillibrand bill


Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com
First Bits + Bips episode: Bits + Bips: Does Macroeconomics Point to a Potential Crypto Supercycle?
Thank you to our sponsors!

Polkadot

VaultCraft

Guests:


Chris Giancarlo, Former Chairman of the US Commodity Futures Trading Commission, author of CryptoDad

Forbes: ‘Elizabeth Warren’s Anti-Crypto Wing Is A Shrinking Iceberg’, Says Former Top Regulator


FoxBusiness Interview: Elizabeth Warren and others have declared war on cryptocurrency: Chris Giancarlo


Op-ed in the FT Banking Risk & Regulation: Can CBDCs be made safe for democracy?



Daniel Gorfine, Founder & CEO of boutique advisory firm Gattaca Horizons, former Chief Innovation Officer at the U.S. CFTC, and adjunct professor at the Georgetown University Law Center

Opinion: Stablecoin and other digital assets are falsely framed as a choice between personal privacy and national security. We can have both. - MarketWatch

Building digital infrastructure for the future of finance


Links
Stablecoins:


Stablecoins Are Defense Tech by Morgan Beller 

Unchained: 

Opinion: Regulated Dollar Stablecoins Created by a Proposed New Senate Bill Would be Crypto’s Ultimate Trojan Horse 


Tether's Record $4.5 Billion Q1 Profit Highlights Its Dominance of the Stablecoin Industry

SAB 121
Unchained: President Biden Vetoes SAB121 Repeal

FIT21

Unchained: FIT21 Bill Heads to The Senate: Should We Really Be Excited?

Spot Ether ETFs
Unchained: Analysts Up Odds of Spot Ether ETF to 75% as Prometheum Launches Product That Treats ETH as a Security


Learn more about your ad choices. Visit megaphone.fm/adchoices

Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Robert Leshner, and Tarun Chitra explore the latest trends in crypto. This episode explores the buzz around LeBron James' potential memecoin, the recent approval of Ether ETFs, and Biden's shifting stance on crypto policy. We dissect the implications of Trump's pro-crypto promises and the FIT21 legislation. Tune in for a lively debate on celebrity coins, the market's reaction to regulatory changes, and the evolving landscape of political influence in the crypto space.
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
🔹 Celebrity Coins: In-depth discussion on the rise of celebrity-endorsed cryptocurrencies, focusing on LeBron James' potential memecoin and its market implications.
🔹 Ether ETF Approval: Examination of the recent Ether ETF approval, the political motivations behind it, and how it might impact the broader crypto market.
🔹 Biden's Crypto Policy: Analysis of Biden's evolving crypto stance, including recent outreach to the crypto industry and the potential effects on the upcoming elections.
🔹 Trump's Crypto Strategy: Debate on Trump's newfound pro-crypto stance, his promises to the crypto community, and the potential impact on his voter base.
🔹 FIT21 Legislation: Overview of the Financial Innovation and Technology in the 21st Century Act, its key provisions, and the potential for bipartisan support.
🔹 Political Influence in Crypto: Discussion on the increasing influence of politics in the crypto space, including the roles of key figures and the impact of regulatory developments.

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

02:45 - ETF Approval 

07:00 - How deep is this policy shift?

09:00 - FIT21

15:45 - Trump's Pro-Crypto Stance

24:40 - Caitlyn Jenner's Memecoin Launch


Learn more about your ad choices. Visit megaphone.fm/adchoices

Listen to the episode on Apple Podcasts, Spotify, Pods, Fountain, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.
After some big wins for the crypto industry (and big losses for the U.S. Securities and Exchange Commission), Jason Gottlieb, partner at Morrison Cohen, delves into how the upcoming US elections could reshape the SEC’s crypto agenda, the political pressures influencing SEC decisions, and the potential impact that a new SEC chair could have.
Gottlieb provides insights into ongoing court battles involving major crypto firms like Coinbase and explores the broader political implications of the Democrats' recent outreach to the crypto industry.
Show highlights:

How the sea change in Congress, the White House, and the Biden campaign affects the SEC’s stance on crypto

Whether the SEC's agenda on crypto has changed, following the sudden reversal on ETH ETFs

Whether the SEC is being pressured politically about crypto and how that could affect its actions between now and the election

How the ongoing legal crypto cases are affected by the SEC’s change of tune

What the implications of a possible new SEC chair would be

How the SEC’s credibility was damaged by the Debt Box case

Why Jason thinks Democrats are in an “uncomfortable position” but also believes there’s a lot of common ground with the Republicans with regard to crypto


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

VaultCraft

Guest


Jason Gottlieb, partner at Morrison Cohen

Previous appearances on Unchained: 

The Department of Justice Goes After Its First NFT Insider Trading Case

‘Is ETH a Security?’ Why Gary Gensler Couldn’t Give Congress a Straight Answer

Links

Previous coverage on Unchained of the recent shift in the US political landscape:

Why Many Democrats, Including the White House, Have Come Around on Crypto

Senator Cynthia Lummis on Why Crypto Now Has Bipartisan Support in Congress

Bits + Bips: Is US Politics Driving the ETH ETF Approval?

Why Spot Ether ETFs Are Now Likely to Be Approved on Thursday

Political turn and ongoing cases:

The Block: Biden campaign ramps up crypto industry outreach in surprising tone 'shift'


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 

SAB 121
Bloomberg: As Bitcoin Rallies, Banks Are Pushing US Regulators to Change Crypto Guidance 
FIT21

Unchained: FIT21 Bill Heads to The Senate: Should We Really Be Excited?

Spot Ether ETFs
Unchained: Analysts Up Odds of Spot Ether ETF to 75% as Prometheum Launches Product That Treats ETH as a Security


TIMESTAMPS:

00:00 Introduction

02:55 The outlook for the SEC’s efforts after the seeming sea change from the Democrats

06:09 Whether the SEC's agenda has changed, after the sudden reversal on ETH ETFs

09:58 Whether the SEC is being pressured politically and whether that will influence its actions between now and the presidential election

15:30 How the ongoing legal crypto cases are affected by the SEC’s change of tune

19:51 What the implications of a new SEC chair would be on court cases winding slowly through the courts

23:52 How the SEC’s credibility was damaged by the Debt Box case

27:59 Why Jason thinks Democrats are in an “uncomfortable position” but also believes there’s a lot of common ground with the Republicans with regard to crypto

34:14 Weekly recap


Learn more about your ad choices. Visit megaphone.fm/adchoices

Sheila Warren, CEO of the Crypto Council for Innovation, joins Unchained to explore the dramatic shift by Democrats in the last few weeks on crypto. She explains why she believes the overturning of SAB 121 and the House vote for the FIT21 bill were both instrumental to the White House's changing view on crypto and may have played a role in the SEC’s surprising approval of spot ETH ETFs. 
Having worked for years on passing crypto legislation and as a lifelong Democrat, Sheila describes what kinds of arguments were persuasive to Democratic members of Congress, addresses some criticisms of the FIT21 bill, and gives her perspective on the debate about single-issue voters.
Show highlights:

The overall attitude toward crypto in Washington going into the House vote on SAB 121 on May 8

The bipartisan votes in the House and Senate to overturn SAB 121

Why, by the time of the Senate vote on FIT21, the White House had had a change of heart about crypto

Why, after the Senate vote to repeal SAB 121, the SEC approved the spot ETH ETFs

Why Sheila is so proud of the passage in the House of the FIT21 bill

How Sheila and CCI approached their discussions with Democrats and what arguments they found effective

Whether the industry has survived the negative image of SBF and FTX

The sea change in the White House between the SAB 121 vote and the FIT21 vote

A high-level description of the FIT21 bill 

What kind of authority the bill would give the CFTC over crypto 

What the implications of the bill are for launching tokens

FIT21’s approach to regulating DeFi and how the FIT21 bill is "kicking the can" on this topic

The overall political and legislation landscape and the next likely steps for crypto

Whether the ETF approval changes anything about the SEC’s investigation into Ethereum

What Sheila thinks about the 'crypto single-issue voter’ debate 


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

VaultCraft

Guest:

Sheila Warren, CEO of the Crypto Council for Innovation

Previous appearance on Unchained: Did FTX Ruin Crypto’s Image on Capitol Hill? Two DC Insiders Discuss


Links

Previous coverage on Unchained of the recent shift in the US political landscape:

Senator Cynthia Lummis on Why Crypto Now Has Bipartisan Support in Congress

Bits + Bips: Is US Politics Driving the ETH ETF Approval?

Why Spot Ether ETFs Are Now Likely to Be Approved on Thursday


SAB 121
Bloomberg: As Bitcoin Rallies, Banks Are Pushing US Regulators to Change Crypto Guidance 
FIT21

CCI: FIT21 Coalition Support Letter



Unchained: FIT21 Bill Heads to The Senate: Should We Really Be Excited?



Sheila’s op-ed on Fortune: The clock is ticking for Democrats on crypto


Spot Ether ETFs
Unchained: Analysts Up Odds of Spot Ether ETF to 75% as Prometheum Launches Product That Treats ETH as a Security

Ethereum Foundation investigation

Fortune Crypto: SEC probing crypto companies in Ethereum investigation as hopes for ETF dim


Learn more about your ad choices. Visit megaphone.fm/adchoices

Listen to the episode on Apple Podcasts, Spotify, Pods, Fountain, Overcast, Podcast Addict, Pocket Casts, Castbox, Amazon Music, or on your favorite podcast platform.
With crypto becoming more politicized than ever, US Senator from Wyoming Cynthia Lummis came on Unchained to talk about the recent regulatory action in Washington DC.
With crypto becoming more politicized than ever, U.S. Senator from Wyoming Cynthia Lummis came on Unchained to talk about the recent regulatory action in Washington, D.C.
She delves into what led to bipartisan support to repeal SAB 121, and how the strength of the vote there in both the House and Senate may have affected the about-face decision to approve spot ether ETFs. Sen. Lummis also explains why she disagrees with how Gary Gensler’s SEC is handling the industry, how to avoid the next TerraUSD, why she feels Wyoming-chartered Custodia Bank is not being treated fairly, the ban on a Chinese-owned, Wyoming-based Bitcoin mining firm, and what advice she would give to the crypto industry during this election year.
Show highlights:

Why the SAB 121 approval was bipartisan 

Whether President Biden will veto the resolution 

How it's a "mystery" to Sen. Lummis why the SEC had a change of heart about Ether ETFs

How the SEC's approach to regulating the industry "is not the American way"

Whether there is a bipartisan majority in favor of crypto in Congress

How bitcoin has come a long way in terms of adoption

Sen. Lummis' thoughts on how to regulate the stablecoin industry and avoid a Terra Luna situation

The differences between the Lummis-Gillibrand bill and FIT21

How Sen. Lummis feels about the denial of a master account for Custodia Bank

Whether there's a move against Bitcoin mining companies in the US, given the recent ban of an operation in Wyoming

What Sen. Lummis would advise for the industry to accomplish its goals


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

VaultCraft

Guest

Senator Cynthia Lummis on Why Crypto Now Has Bipartisan Support in Congress - Ep. 651, U.S. Senator from Wyoming
Links
Ether ETFs

Unchained: 

Analysts Up Odds of Spot Ether ETF to 75% as Prometheum Launches Product That Treats ETH as a Security

Bits + Bips: Is US Politics Driving the ETH ETF Approval?

Why Spot Ether ETFs Are Now Likely to Be Approved on Thursday

SAB 121

Bloomberg: As Bitcoin Rallies, Banks Are Pushing US Regulators to Change Crypto Guidance 



FIT21:
Unchained: FIT21 Bill Heads to The Senate: Should We Really Be Excited?

Open cases:

Fortune: SEC sued over Ethereum, crypto firm asks court to state token is not a security


Unchained: 

Gary Gensler’s Case Against Uniswap: Does the SEC Even Stand a Chance?

SEC Puts DeFi in Its Sights With Potential Uniswap Suit

Unchained:

SEC Investigating Ethereum Foundation Regarding Proof-of-Stake Transition: Report

The Real Reason Why the SEC Might Be Going After Ethereum


Timestamps:

(00:00) Introduction

(02:53) Why the SAB 121 approval was bipartisan 

(04:52) Whether President Biden will veto the resolution 

(08:40) How it's a "mystery" to Sen. Lummis why the SEC had a change of heart about Ether ETFs

(13:23) Why Senator Lummis believes there is a bipartisan majority in favor of crypto in Congress

(20:19) Sen. Lummis' thoughts on how to regulate the stablecoin industry and avoid a Terra Luna situation

(23:55) The differences between the Lummis-Gillibrand bill and FIT21

(28:59) How Sen. Lummis feels about the denial of a master account for Wyoming-special purpose depository institution Custodia Bank

(30:20) What she thinks about the Biden administration’s ban against a Wyoming-based, Chinese-owned Bitcoin mining company near a nuclear site

(33:44) What Sen. Lummis would advise for the industry to accomplish its goals

(35:04) Weekly Recap


Learn more about your ad choices. Visit megaphone.fm/a