Unchained Laura Shin
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Crypto assets and blockchain technology are about to transform every trust-based interaction of our lives, from financial services to identity to the Internet of Things. In this podcast, host Laura Shin, an independent journalist covering all things crypto, talks with industry pioneers about how crypto assets and blockchains will change the way we earn, spend and invest our money. Tune in to find out how Web 3.0, the decentralized web, will revolutionize our world. Disclosure: I'm a nocoiner.
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The Chopping Block: EigenLayer Airdrop Fallout, Shkreli vs. Io.net, and CZ's Sentencing
In this episode, we dive deep into the controversy surrounding the EigenLayer airdrop, discussing the community’s backlash and its broader implications for token distributions in crypto. We also explore the ongoing debate over the efficacy and future of cryptocurrency points programs. The episode also delves into Martin Shkreli’s impactful campaign against Io.Net, highlighting how his public criticisms shed light on project valuations and investor trust. Additionally, we discuss CZ’s recent four-month sentencing, reflecting on the crypto community’s supportive response and considering the Department of Justice's approach to crypto leadership. Tune in to gain expert perspectives on the complex interplay between market movements, regulatory actions, and community reactions in the evolving world of crypto!
Show Highlights
🔹 EigenLayer Airdrop Controversy: Delve into the community's disappointment over the EigenLayer airdrop and explore its implications for future token distributions.
🔹 Debate on Crypto Points Programs: Analyze the effectiveness and future prospects of cryptocurrency points programs.
🔹 Impact of VCs on Market Dynamics: Consider the role of venture capitalists and how investor sentiment is shaped by their actions in the market.
🔹 Martin Shkreli's Campaign Against Io.Net: Discuss how Martin Shkreli significantly impacted Io.Net by publicly criticizing the project's overvaluation.
🔹 CZ's Four-Month Sentencing: Reflect on the crypto community's support for CZ following his four-month sentencing.
🔹 DOJ Sentencing and Prospects for Crypto Leaders: Examine the Department of Justice's approach to sentencing and what it means for future leadership in the cryptocurrency sector.
Hosts
⭐️Haseeb Qureshi, Managing Partner at Dragonfly
⭐️Tom Schmidt, General Partner at Dragonfly
⭐️Robert Leshner, Founder of Compound
⭐️Tarun Chitra, Giga-Brain & Grand Poobah at Gauntlet
Disclosures
Links
AI x Web3: Pioneering Decentralized Intelligence - TOKEN2049 Dubai 2024
https://youtu.be/zt_uEHcFiA4
EigenLayer Whitepapter https://github.com/Layr-Labs/whitepaper/blob/master/EIGEN_Token_Whitepaper.pdf
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Bitcoin Layer 2s Aim to Attract Ethereum-Like Dapps. Will They Succeed?
In this episode of Unchained, host Laura interviews Alexei Zamyatin, co-founder of Build on Bitcoin, Willem Schroé, founder of Botanix Labs, and Orkun Kılıç, co-founder of Chainway Labs. They discuss their respective projects, all of which are focused on developing Layer 2 solutions for Bitcoin.
Zamyatin's Build on Bitcoin is a hybrid Layer 2 that connects to both Bitcoin and Ethereum, aiming to bring innovation back to the Bitcoin ecosystem. Schroé's Botanix Labs is developing a decentralized Layer 2 solution using the ‘Spiderchain,’ which uses a series of multi-signature wallets to secure the chain. Kılıç's Chainway Labs is building Citrea, a zk-rollup on Bitcoin that aims to create a Bitcoin-backed economy.
All three projects are in various stages of development and testing, with BOB’s mainnet launch expected shortly.
Show highlights:
Introduction to Build on Bitcoin (BOB), Botanix, and Citrea: How they aim to innovate and expand Bitcoin's capabilities, including their architectural designs that integrate Ethereum users and work toward decentralization and trustlessness
Security Aspects and Integration Strategies: What the security risks associated with BOB, Botanix, and Citrea are, and strategies to enhance decentralization over time
How these Layer 2s influence Bitcoin fees, and how Botanix's integration can leverage the Bitcoin ecosystem, with insights on the potential of Layer 3s and zk-rollups to transform Bitcoin's utility and fee dynamics
How these projects aim to attract Ethereum users and developers, and the reasons why this may be an attractive opportunity for them
How Runes, Ordinals, and BRC-20s operate on Citrea, Botanix, and BOB
How Bitcoin is always a derivative when it’s not in its Layer 1 and the pros and cons of different bridging solutions
The concept of forward secrecy and how it can help improve security in blockchains
Why Willem believes that Layer 3s are possible and bullish for Bitcoin
How "merged mining” resembles Ethereum’s restaking and why it’s positive for Bitcoin
Thank you to our sponsors!
Polkadot
Guests:
Willem Schroé, founder of Botanix Labs
Orkun Kılıç, cofounder of Chainway Labs
Alexei Zamyatin, cofounder of Build on Bitcoin
Links
Recent coverage on Unchained of Bitcoin L2s:
Stacks’ Muneeb Ali On Why Bitcoin Is Exciting Once Again
Build on Bitcoin
BOB learning documents
Announcement of mainnet on May 1st.
Unchained: Bitcoin DeFi App Sovryn to Deploy on Hybrid Layer 2 Network Build on Bitcoin
Alexei’s tweet on BitVM/rollups
Alexei went on a retreat with the inventor of BitVM
Citrea
Unchained: Here's What You Should Know About Citrea, Bitcoin's First ZK Rollup
Whitepaper
Orkun Mahir Kılıç’s interview on Unchained Premium
Citrea learning documents
Clementine -Citrea's BitVM Based Trust-Minimized Two-Way Peg Program
Botanix
CoinDesk: Willem Schroé: Building Botanix, a Bitcoin Layer 2 That Brings the EVM to Bitcoin
Botanix and the Future of Bitcoin
Bitcoin Magazine: Spiderchains: A Proof Of Stake Second Layer For Bitcoin
Willem Schroé’s interview on Unchained Premium
Learn More:
Unchained:
What Is the OP_CAT Bitcoin Improvement Proposal?
What Are Opcodes in Bitcoin? A Beginner's Guide
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Consensys’s Lawsuit Against The SEC: Will It End Gensler's ‘Unlawful Power Grab’?
On Thursday, Consensys sued the U.S. Securities and Exchange Commission (SEC) in a Texas federal court, seeking to prevent an impending SEC action against its MetaMask wallet and to clarify that ether is not a security.
The complaint calls out the agency for what Consensys describes as “regulatory overreach,” challenges its notion that ETH is a security, and says the SEC has violated the Constitutional requirement of fair notice under the due process clause. It notes that for years, the SEC and its sister agency, the Commodity Futures Trading Commission, took the position that ETH is not a security.
The lawsuit also challenges the SEC’s recent focus on Ethereum's switch to proof of stake in 2022 as a basis for increased scrutiny, a stance Consensys CEO Joseph Lubin deemed "preposterous."
Laura Brookover, Senior Counsel & Head of Litigation and Investigations at ConsenSys, joined Unchained to unpack the lawsuit and what it means for the future of Ethereum and overall crypto in the US.
Show highlights:
Why Consensys sued the SEC and why Brookover feels like the SEC has gone too far
How they are looking for a Judge to declare that the ETH is not a security
Whether the switch to proof of stake turned ETH into a security
Why the SEC issued Consensys a Wells Notice, with one potential allegation being that it is operating an unregistered securities broker through its MetaMask wallet
How the major questions doctrine applies to what the SEC is doing in the industry, according to Brookover
Why Hinman’s speech is still relevant today, even after 6 years
Whether the moves by the SEC are related to a motivation to deny ether spot ETFs
How the several cases against the SEC show that the industry “has had enough”
Whether Texas is a jurisdiction favorable to crypto, given that many lawsuits are being filed there
The implications of a Consensys victory for the industry and what the next steps in the case are
Thank you to our sponsors!
iTrustCapital
Polkadot
Guest
Laura Brookover, Senior Counsel & Head of Litigation and Investigations at Consensys
Links
The lawsuit:
Fortune: SEC sued over Ethereum, crypto firm asks court to state token is not a security
ConsenSys’s complaint
Bill Hughes’ thread on why Consensys sued the SEC
Consensys is suing the SEC to defend the Ethereum ecosystem
Hinman speech
CryptoLaw: The Hinman Speech Documents
Major questions doctrine
Unchained: Why the SEC vs. Ripple Order Is Now About 2 Things: Coinbase and Congress
Reuters: SEC argues Coinbase crypto case not barred by ‘major questions’ doctrine
Other SEC cases:
Coinbase
Unchained:
Why the SEC’s Case Against Coinbase Is So Significant for Crypto
Court Rejects Coinbase’s Bid to Dismiss SEC Charges Against It
Uniswap
Unchained:
Gary Gensler’s Case Against Uniswap: Does the SEC Even Stand a Chance?
SEC Puts DeFi in Its Sights With Potential Uniswap Suit
Uniswap Blog Post on the Wells notice
Marvin Ammori Thread on Wells notice
Ethereum Foundation
Unchained:
SEC Investigating Ethereum Foundation Regarding Proof-of-Stake Transition: Report
The Real Reason Why the SEC Might Be Going After Ethereum
Debt Box
Unchained: SEC Sanctioned for ‘Abuse of Power’ in Debt Box Lawsuit
Beba
DeFi Education Fund and Beba sue SEC over airdrop policies
Lejilex
Lawsuit document
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The Chopping Block: Uniswap's SEC Scrutiny, Token2049 Flood Catastrophe, and Bitcoin's Halving Impact
Welcome to The Chopping Block, where Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner dissect the crypto world’s topics of the day. In this episode, we delve into the SEC's recent scrutiny of Uniswap, exploring the potential legal and regulatory impacts on the DeFi landscape. We also discuss the unprecedented flooding in Dubai and its effects on the recent crypto conference, highlighting the resilience of the crypto community in the face of natural disasters. Shifting our focus to Bitcoin, we analyze the implications of the latest halvening event and what it means for Bitcoin’s inflation rate and market dynamics. Through these discussions, we unpack the intricate relationships between regulatory actions, environmental challenges, and technological advancements in cryptocurrency. Join us as we navigate through these complex topics, offering deep insights and expert analysis on the events that are shaping the future of blockchain and digital currencies. Tune in to understand how these pivotal moments are influencing the strategic direction and ethical considerations within 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
🔹The devastating floods in Dubai and their impact on the Token 2049 conference
🔹 Analysis of Bitcoin's halvening event, exploring whether it's a bullish signal or just market noise.
🔹 Examine the evolution and market impact of new Bitcoin protocols like ordinals and runes, assessing their effectiveness and reception within the community.
🔹 Explore the dynamics of the Asian market's influence on Bitcoin's secondary layers, discussing the integration of substantial Bitcoin deposits and yield strategies.
🔹 Dive into the SEC's Wells Notice to Uniswap and its broader implications for decentralized finance (DeFi).
Hosts
⭐️Haseeb Qureshi, Managing Partner at Dragonfly
⭐️Tom Schmidt, General Partner at Dragonfly
⭐️Robert Leshner, Founder of Compound
⭐️Tarun Chitra, Founder and CEO of Gauntlet
Disclosures
Links
Fighting for DeFi by Uniswap: https://blog.uniswap.org/fighting-for-defi
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The US vs. Crypto: Jake Chervinsky on Crypto's Legal and Regulatory Status
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.
Jake Chervinsky, chief legal officer of Variant, discusses the current state of crypto regulation, touching on several ongoing legal and regulatory issues in the crypto space, including Uniswap’s Wells notice, the Coinbase case, the Tornado Cash case, the Ethereum Foundation investigation and more. Chervinsky argues that the government's approach to these cases is often misguided, particularly in instances where they hold software developers liable for how third parties use their software. He also discusses the potential implications of the government's case against Tornado Cash, suggesting that it could have far-reaching consequences for all open-source software developers.
Chervinsky also delves into the SEC's ongoing investigations into the Ethereum Foundation, as well as the recent IRS draft form that lists unhosted wallets as a type of broker. He expressed concern about the potential impact of these investigations on the crypto industry, but remained optimistic about the future of DeFi in the US.
Show highlights:
How the Tornado Cash case could set a critical precedent for open-source software
How the government’s Tornado indictment reveals a fear of unsurveilled financial systems, according to Jake
What the implications of the Tornado Cash case could be for the broader DeFi space
What lessons can be learned from the $62 million hack of Munchables on Blast
How to address the challenge of malicious actors like North Korea using a permissionless system
Whether Coinbase's staking services are considered a securities offering
Whether Judge Failla’s ruling on Coinbase acting as a broker could be overturned
Why Jake thinks the SEC will face significant challenges in its potential case against Uniswap Labs
How the Debt Box case order impacts the SEC’s reputation, according to Jake
How the industry is pushing back against the SEC’s regulation by enforcement with its own lawsuits for Lejilex and Beba
The future of DeFi in the U.S. and its potential for success, according to Jake
Why Jake believes the SEC will deny Ether ETFs and why he disagrees with the latest stablecoin regulation bill by Lummis and Gillibrand
How the U.S. Presidential election could impact the future of the crypto industry
Thank you to our sponsors!
Polkadot
Guest:
Jake Chervinsky, Chief Legal Officer at Variant
Previous appearances on Unchained:
Why the SEC vs. Ripple Order Is Now About 2 Things: Coinbase and Congress
The Chopping Block: Jake Chervinsky on How the SEC Has Lost Credibility
All Things Crypto Regulation With Jake Chervinsky
Everything You Need to Know About the Looming Battle Over Privacy in Crypto
Can Crypto Be a Force in the Midterms? Yes, Say Kristin Smith and Jake Chervinsky
Links
Tornado Cash
Jake’s amicus brief with Amanda Tuminelli
Unchained: Given the Sanctions on Tornado Cash, Is Ethereum Censorship Resistant?
Unchained: Is This the End of DeFi? Why the US Government Is Going After Tornado Cash
Munchables exploit
Unchained: Blast-Based NFT Game Munchables Recovers $62.5 Million Lost in Exploit
SEC cases:
Coinbase
Unchained:
Why the SEC’s Case Against Coinbase Is So Significant for Crypto
Court Rejects Coinbase’s Bid to Dismiss SEC Charges Against It
Uniswap
Unchained:
Gary Gensler’s Case Against Uniswap: Does the SEC Even Stand a Chance?
SEC Puts DeFi in Its Sights With Potential Uniswap Suit
Uniswap Blog Post on the Wells notice
Marvin Ammori Thread on Wells notice
Ethereum Foundation
Unchained:
SEC Investigating Ethereum Foundation Regarding Proof-of-Stake Transition: Report
The Real Reason Why the SEC Might Be Going After Ethereum
Debt Box
Unchained: SEC Sanctioned for ‘Abuse of Power’ in Debt Box Lawsuit
Beba
DeFi Education Fund and Beba sue SEC over airdrop policies
Leji -
After the Bitcoin Halving, Will the Runes Protocol Live Up to the Hype?
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.
Not only will April 20 (or 19, depending on which part of the world you are) mark the fourth Bitcoin halving, but also the launch of a new primitive on Bitcoin called Runes Protocol.
Charlie Spears, co-founder of Blockspace Media, joined Unchained to talk about all things Runes, which is a messaging protocol that allows for the creation of fungible tokens on Bitcoin. It is designed to fix some of the issues with the BRC-20 token standard, such as inefficiency and proliferation of unspent transaction outputs. Charlie believes that the launch of Runes will increase demand for Bitcoin's blockspace and potentially lead to higher transaction fees. He also discusses the potential for Runes to interact with Bitcoin covenants and layer two solutions.
Show highlights:
What Runes is and why Charlie believes that it is the hottest thing since Ordinals
The differences between Runes and BRC-20 fungible tokens
Runes’ unique features, with Charlie pointing out that this is “what the degens really want”
Whether the Runes Protocol will create a “burst of demand” and have a positive impact on miners
Whether the launch of Runes will be successful in the long-term and how Bitcoin’s blockspace could become more attractive
Whether Bitcoin L2s will help clear Bitcoin’s mempool, and why Charlie believes that they won’t reduce fee pressure on the base layer
The coolest things that Runes Protocol will enable, according to Charlie
How Taproot Assets and RGB differ from Runes and why they have not taken off
Why Casey, the founder of Runes, will claim the first inscription with Uncommon Goods
Thank you to our sponsors!
iTrustCapital
Polkadot
Guest
Charlie Spears, cofounder of Blockspace Media
Links
Recent coverage on Unchained of the Bitcoin halving: Arthur Hayes and Will Clemente on How This Bitcoin Halving Is Different
Runes
Unchained: What Are Runes? A Guide to the New Fungible Token Protocol on Bitcoin
Bitcoin Runes Explainer by Charlie Spears
BRC-20s and Ordinals:
Unchained:
What Are BRC-20 Tokens? A Brief Introduction
Bitcoin’s BRC-20 Mania: Is It Sustainable?
How to Create a Bitcoin Ordinal
Bitcoin Ordinal NFTs Are Hot and Getting Hotter. What's the Hype About?
Halving
Unchained:
Bitcoin Halving: What Is It & How Is It Determined?
Here’s Why No One Agrees Exactly When The Bitcoin Halving Will Happen
Bitcoin Miners Diversify Their Revenue Streams as Halving Nears
Bitcoin L2s
Unchained:
Stacks’ Muneeb Ali On Why Bitcoin Is Exciting Once Again
Citrea: An Ethereum-Like Experience Built on Bitcoin?
How Botanix Aims to Enable Smart Contracts on Bitcoin
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Kundrecensioner
Overly ideological
Bias warning: Statism and anti-meritocracy.
Generally high quality interviews! So unfortunately ideological that she doesn’t listen to the overall perspective of vulnerable people she interviews.
Very educational and talented host
The host, Laura Shin, really makes sure that herself or her guests clarifies the most technical lingo and give proper background information so that I, as a novice in the cryptosphere, can follow along in the conversations better. Overall a great and interesting podcast!
Ethereum focused
Interesting podcast but it’s way too Ethereum focused. ICOs on Ethereum are heavily discussed because the guests want to name drop their centralized coins (especially Olaf).