380 episodes

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.

Unchained Laura Shin

    • News
    • 4.6 • 1.1K Ratings

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.

    Oslo Freedom Forum: How NFTs Helped Chinese Dissident Artist Badiucao Evade Censorship

    Oslo Freedom Forum: How NFTs Helped Chinese Dissident Artist Badiucao Evade Censorship

    Badiucao, Chinese artist and activist, talks about the importance of NFTs for political activism, the role of China in his career as an artist, the significance of blockchain technologies to resist censorship, and much more. Show highlights:
    why Badiucao became an artist and how the censorship in China brought him to NFTs how Badiucao only learned about Tiananmen Square when he was 22 years old  why Badiucao took up work as a preschool teacher in Australia how anonymity is important for Chinese activists for their family’s safety the intention of Badiucao’s art and what is he trying to express the repercussions of Badiucao’s activism why Badicuao eventually gave up his anonymity why Badiucao decided to issue art as NFTs and what possibilities he sees in NFTs how Badiucao enabled people to write a message of protest in the blockchain with the launch of his NFT and how this represented the first large mass protest written into the blockchain whether the Beijing Winter Olympics is an outrage and a disgrace for the international community and how this inspired Badiucao’s NFT collection Beijing 2022 how Niki approached the issue of the possibility of having the art taken down how Badiucao used NFTs to help Ukraine due to the war the reasons political art has so much value, and how NFTs enable possibilities for all political artists around the world whether NFTs are much more than just some apes, and how learning about art is important how to get started as a political artist and the importance to remain truthful the significance of using power as an artist Thank you to our sponsors!  
    Crypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021 
    Ava Labs: https://avax.network
     
    EPISODE LINKS  
    Badiucao
    Twitter: https://twitter.com/badiucao Website: https://www.badiucao.com/  
    Niki
    Website: http://nikiselken.com/  
    Documentary about Badiucao:
    https://www.imdb.com/title/tt10601676/
     
    60 Minutes interview: https://www.cbsnews.com/news/badiucao-60-minutes-2021-12-26/
     
    Unveiling his identity: https://www.nytimes.com/2019/06/04/world/asia/china-tiananmen-cartoonist-badiucao.html?searchResultPosition=1
     
    The importance of NFTs
    How Activists are Using NFTs as Civil Disobedience: https://www.jumpstartmag.com/how-activists-are-using-nfts-as-civil-disobedience/ Nadya Tolokonnikova on NFTs with social messages: https://editorial.brytehall.com/nadya-tolokonnikova-on-nfts-with-social-messages-and-shock-value/ Unchained Coverage: This Noble Family’s Art Was Taken by Nazis, But Is Being Saved by NFTs: https://unchainedpodcast.com/this-noble-familys-art-was-taken-by-nazis-but-is-being-saved-by-nfts/ Unchained Coverage: Punk6529 on the Significance of Bored Ape Yacht Club and CryptoPunks: https://unchainedpodcast.com/punk6529-on-the-significance-of-bored-ape-yacht-club-and-cryptopunks/ Unchained Coverage: Why This Environmentalist Doesn’t Blame Creators for the Carbon Footprint of NFTs: https://unchainedpodcast.com/why-this-environmentalist-doesnt-blame-creators-for-the-carbon-footprint-of-nfts/  
    Beijing 2022 Collection
    https://www.badiucao.com/nft Badiucao launches NFT collection to protest against China's human rights record on eve of Beijing Winter Olympics: https://www.theartnewspaper.com/2022/02/01/badiucao-launches-human-rights-protest-nft-collection-on-eve-of-beijing-winter-olympics  
     
    NFTs for Ukraine Collection
    https://www.badiucao.com/ukraine

    • 38 min
    The Chopping Block: Here’s What Was So Bad About Three Arrows Capital

    The Chopping Block: Here’s What Was So Bad About Three Arrows Capital

    Welcome to The Chopping Block! Crypto insiders Haseeb Qureshi, Tom Schmidt, and Tarun Chitra chop it up about the latest news in the digital asset industry. In this episode, Taylor Monahan, matriarch of Metamask, joins the show to discuss the contagion of major crypto firms, the bear market, SBF saving crypto, and much more! Show topics:
    The importance of UX and security How Three Arrows Capital’s practice of borrowing to leverage their bets has caused a crisis for crypto lenders that rippled out to many customers How the GBTC arbitrage trade was part of 3AC’s undoing, and how that trade was one many other crypto trading institutions had previously abandoned How crypto lenders were being degens with customers funds Why SBF stepped in and made sure that BlockFi and Voyager didn’t default on customers’ deposits Whether this whole wind-down reflects a credit cycle How DeFi protocols were built to avoid these kinds of centralized finance problems  How the systemic issues caused by CeFi institutions like Celsius, BlockFi and Voyager are reminiscent of the Great Financial Crisis What are the similarities between this crypto meltdown, the Mt. Gox debacle, and the 1907 and 2008 financial crises What are the consequences of losing retail money vs. institutional money How surviving a credit cycle crisis creates the best risk managers The lessons to be learned from all these crises  How MakerDAO is trying to figure out what to do with its money What happened with Solend and why the DAO resorted to a centralized action Why DeFi needs more clauses about how to handle edge cases The difference between doing dumb things and wrong things Why Tarun is impressed with Solana’s DAO tooling Why Taylor is thankful for the bear market


    Hosts
    Haseeb Qureshi, managing partner at Dragonfly Capital https://twitter.com/hosseeb Tom Schmidt, general partner at Dragonfly Capital https://twitter.com/tomhschmidt Tarun Chitra, managing partner at Robot Ventures https://twitter.com/tarunchitra  Robert Leshner, founder of Compound  https://twitter.com/rleshner   
    Guest: Taylor Monahan
    Twitter: https://twitter.com/tayvano_ Taylor’s thread on resources to learn about all things crypto: https://twitter.com/tayvano_/status/1509380091184246784?s=20&t=kNk8fJ7pJAWfEEVZQHwpvg  
    Episode Links
     
    Crypto Contagion 3AC: https://blockworks.co/three-arrows-capital-brink-default-owes-voyager-657m/ Voyager Celsius + Goldman buyout? https://www.protocol.com/bulletins/goldman-celsius-bankruptcy BlockFi bailout: https://www.coindesk.com/business/2022/06/21/blockfi-receives-250m-credit-facility-from-ftx/ Unchained newsletter on BlockFi’s bailout: https://unchainedpodcast.com/vitalik-says-this-deserves-mockery/ CoinFlex: https://www.bloomberg.com/news/articles/2022-06-27/crypto-exchange-coinflex-to-issue-tokens-after-withdrawal-freeze?sref=Q2SpVkJl Babel: https://www.coindesk.com/business/2022/06/20/babel-finance-reaches-debt-agreement-with-counterparties-after-withdrawal-freeze/ Unchained Coverage: Why Possible Insolvencies by Celsius and 3AC Could Spell Disaster for Crypto: https://unchainedpodcast.com/why-possible-insolvencies-by-celsius-and-3ac-could-spell-disaster-for-crypto/ Solend DAO situation: Unchained Coverage: Solend and Bancor Drama: Did These DAOs Violate the Ethos of Crypto? – Ep. 366: https://unchainedpodcast.com/solend-and-bancor-drama-did-these-daos-violate-the-ethos-of-crypto-ep-366/ https://www.coindesk.com/tech/2022/06/19/solana-defi-platform-votes-to-control-whale-account-in-bid-to-avoid-liquidation-chaos/ Covered on Unchained Newsletter: https://unchainedpodcast.com/does-this-dao-deserve-emergency-power%e2%81%89%ef%b8%8f/ MakerDAO governance proposal: https://www.theblock.co/post/154515/maker-governance-is-voting-to-invest-500-million-in-us-treasury-bills

    • 1 hr
    Does Venture Capital Investment Violate the Ethos of Crypto? Sequoia Says No

    Does Venture Capital Investment Violate the Ethos of Crypto? Sequoia Says No

    Shaun Maguire and Michelle Bailhe, partners at Sequoia, discuss their long term view and thesis about crypto, what do they look for to invest in a crypto project, the takeaways from the blowup of Terra, the insolvency of crypto companies, and much more. Show highlights:
    what is Sequoia’s long term view and thesis about the crypto industry how different our lives will look in 20 years from now due to blockchain technology how Sequoia had to adapt to invest in this new asset class and what are the similarities and differences with investing in traditional startups when a product or service on the internet should be offered in a decentralized or centralized way how Sequoia decides whether to invest in the entity behind a project or in the tokens whether having venture capitalists involved at all goes against the ethos of decentralization why Shaun believes that Ethereum proved that decentralization can be achieved even when you start being centralized whether people underestimate the value that VCs can add to a project why Shaun believes that Solana is moving towards decentralization Sequoia’s thesis about privacy in crypto and the potential of zero-knowledge proofs  how Michelle sees the macroeconomic environment impacting crypto and whether this cycle is different from the previous ones the importance of product market fit in crypto projects what crypto projects should be focusing on and the business model they should be pursuing the main takeaways of the Terra collapse and how it was a major setback for algo stablecoins how crypto founders should always do the right thing even though there is no clear regulation whether SBF is the Berkshire Hathaway of crypto today the lessons to be learned from the potential insolvency of some crypto lenders and investment firms how demand for blockspace will keep increasing and whether a single blockchain could supply all that space the future of the metaverse and how it can be defined Michelle’s mental model for crypto and the phases for achieving worldwide adoption  
    Thank you to our sponsors!  
    Crypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021
    Beefy Finance: https://beefy.finance/
    Ava Labs: https://www.avax.network/



    EPISODE LINKS  
    Shaun Maguire:  Twitter: https://www.twitter.com/shaunmmaguire Sequoia Profile: https://www.sequoiacap.com/people/shaun-maguire/  
    Michelle:  Twitter: https://twitter.com/michellebailhe Sequoia Profile: https://www.sequoiacap.com/people/michelle-bailhe/ Michelle’s investment thesis: https://www.sequoiacap.com/article/ask-not-wen-moon-ask-why-moon/


    Bear Market:
    Michelle’s Twitter thread: https://twitter.com/michellebailhe/status/1526373378516365312?s=20&t=c7vdmdg2mnQ34rsAGIm0lg Insolvency of crypto lenders: Voyager: https://www.coindesk.com/business/2022/06/22/voyager-digital-requests-loan-repayment-from-3ac-considers-issuing-default-notice/ BlockFi: https://decrypt.co/103422/blockfi-secures-250-million-line-of-credit-from-ftx Celsius: https://www.theblock.co/linked/151522/crypto-lending-firm-celsius-pauses-withdrawals-and-transfers-citing-market-conditions Celsius possible bankruptcy: https://www.theblock.co/linked/154100/crypto-lender-celsius-hires-more-advisors-ahead-of-possible-bankruptcy-wsj Previous Unchained Coverage:  Why Possible Insolvencies by Celsius and 3AC Could Spell Disaster for Crypto: https://unchainedpodcast.com/why-possible-insolvencies-by-celsius-and-3ac-could-spell-disaster-for-crypto/ Cobie and Chris Burniske on How to Navigate a Crypto Bear Market: https://unchainedpodcast.com/cobie-and-chris-burniske-on-how-to-navigate-a-crypto-bear-market-ep-354/


    Terra
    Shaun’s take on stablecoins:  https://twitter.com/shaunmmaguire/status/1524420727968976898?s=20&t=26DylQ2_YbW36Y4ZMwxVFw
    Previous Unchained Coverage:  Kevin Zhou on the risk of UST’s death spiral: https://unchainedpodcast.com/heres-why-usdn-de-pegged-from-the-dollar-and-why-ust-might-t

    • 1 hr 10 min
    Solend and Bancor Drama: Did These DAOs Violate the Ethos of Crypto?

    Solend and Bancor Drama: Did These DAOs Violate the Ethos of Crypto?

    Derek Hsue, cofounder at Reverie, discusses the recent controversial decisions by Solend DAO and Bancor, the importance of establishing processes for black swan events, and whether decentralized governance truly exists. Show highlights:
    what situation prompted Solend to feel it was in jeopardy what Solend DAO’s response was to that situation why Derek views it as “the nuclear option” why the proposal sparked an outcry from the crypto community whether this issue could have been prevented or managed differently if the protocol was built on a blockchain other than Solana why, a day later, the DAO reversed its first decision to take over the whale’s account whether Derek thinks the DAO made the right decision to not take over the whale’s account what is Impermanent Loss Protection, a feature offered by Bancor why Bancor decided to pause Impermanent Loss Protection whether Celsius and 3AC had anything to do with Bancor’s problem how Bancor’s decision was made unilaterally how DAOs should deal with black swan events  
     
    Thank you to our sponsors!  
    Crypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021 
    Ava Labs: https://www.avax.network/
     
     
    EPISODE LINKS  
    Derek
    Twitter: https://twitter.com/derek_hsue  
    Reverie
    Website: https://www.reverie.ooo/ Twitter: https://twitter.com/hi_reverie  
    Solend DAO Situation
    Covered on Monday’s Unchained Newsletter: https://unchainedpodcast.com/does-this-dao-deserve-emergency-power%e2%81%89%ef%b8%8f/ Proposal to invalidate the first one: https://decrypt.co/103330/solana-lending-dao-overturns-vote-to-take-over-at-risk-whale-wallet The whale moved $25 million from Solend: https://www.theblock.co/post/153207/solana-whale-shuffles-25-million-to-reduce-risk-to-defi-protocol-solend  
    Bancor Pausing Impermanent Loss Protection
    Bancor’s post: https://blog.bancor.network/market-conditions-update-june-19-2022-e5b857b39336 Anthony Sassano’s reaction: https://twitter.com/sassal0x/status/1539082583832526848?s=20&t=OzTV6M5bCH4fxJIJUtLA4Q  
    DAO Governance issues:
    Lido DAO proposes to reduce the existing scope of governance of its token holders: https://research.lido.fi/t/ldo-steth-dual-governance/2382 Jack Niewold 's thread: https://twitter.com/JackNiewold/status/1539307339928457217?s=20&t=OzTV6M5bCH4fxJIJUtLA4Q Unchained Coverage: How Soulbound Tokens Could Reduce Speculation and Improve DAO Voting – Ep.360: https://unchainedpodcast.com/how-soul-bound-tokens-could-reduce-speculation-and-improve-dao-voting-ep-360/  
     
    Main tweet
    On this Friday’s Unchained, Derek Hsue explains:
    * why the first Solend DAO vote was the “nuclear option”
    * whether Solana’s history of downtime spurred the proposal
    * Bancor’s decision to stop Impermanent Loss Protection
    * what this all means for DAO governance

    • 34 min
    CFTC Commissioner Caroline Pham on Why US Crypto Regulators Get a B-

    CFTC Commissioner Caroline Pham on Why US Crypto Regulators Get a B-

    Caroline Pham, commissioner at the Commodities Futures Trading Commission, discusses how we should build a regulatory framework for crypto assets, whether the SEC and CFTC should work together, what were the consequences of the Terra collapse, and much more. Show highlights:
    how Cmr. Pham got started in crypto and became a CFTC commissioner the importance of the regulatory strategy around crypto what crypto’s role is in the financial system how bitcoin is a sort of money outside of the traditional financial system how friendly regulators should be with the industries they regulate why she believes transparency is one of the greatest ideals of American democracy how Cmr. Pham believes in self-determination and the power of free markets why Cmr. Pham published an op-ed with SEC Commissioner Hester Peirce how the Terra collapse incentivized regulators to look deeper into the space whether the US approach towards regulation can improve the role of the regulatory agencies in making the US the financial leader of the world what Cmr. Pham thinks about the new Gillibrand and Lummis bill whether SEC Chair Gary Gensler is right about the majority of cryptos being securities what are the low-hanging fruit opportunities for regulators when it comes to crypto how Cmr. Pham believes we should have a global regulatory framework for crypto why she believes algorithmic stablecoins are derivatives why things like Terra could act as a “shadow banking 3.0” whether there is a way to regulate without having intermediaries what Cmr. Pham thinks about FTX proposal to bypass futures commission merchants   
    Thank you to our sponsors!  
    Crypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021 
    Beefy Finance: https://beefy.finance/
     
    EPISODE LINKS  
    Caroline Pham
    Twitter: https://twitter.com/CarolineDPham CFTC Profile: https://www.cftc.gov/About/Commissioners/CarolineDPham/index.htm


    Stablecoin regulation
     
    Financial Times article: https://www.ft.com/content/981c380f-bb1c-45bd-8d0d-a95b15d96a00 CNBC on crypto regulation: https://www.cnbc.com/2022/06/03/cryptocurrency-industry-focus-regulation-stablecoins-market-crash.html Unchained Coverage: Why Crypto Twitter’s Disrespect Toward Regulators Is a ‘Really Bad Business Decision’: https://unchainedpodcast.com/why-crypto-twitters-disrespect-toward-regulators-is-a-really-bad-business-decision/ Unchained Coverage: Can a DeFi Smart Contract Be Regulated? Two CFTC Commissioners Discuss: https://unchainedpodcast.com/can-a-defi-smart-contract-be-regulated-two-cftc-commissioners-discuss/ FTX proposal to serve as the trading engine for derivatives:
    https://www.forbes.com/sites/jasonbrett/2022/04/27/the-ftx-us-proposal-that-shook-congress-and-the-crypto-derivatives-world/?sh=3dac29ef4e19 Unchained Coverage: FTX Wants to Compete with CME – Here’s Why It’s a Big Deal: https://unchainedpodcast.com/ftx-wants-to-compete-with-cme-heres-why-its-a-big-deal/  
    Hester Peirce
    Caroline’s op-ed with SEC Commissioner Hester Peirce: https://thehill.com/blogs/congress-blog/3503277-making-progress-on-decentralized-regulation-its-time-to-talk-about-crypto-together/ Hester Peirce's token safe harbor proposal: https://decrypt.co/66453/secs-hester-peirce-floats-revised-crypto-safe-harbor-rules Unchained Coverage: Hester Peirce’s Former Counsel on Terra 2.0, XRP and a Bitcoin Spot ETF: https://unchainedpodcast.com/hester-peirces-former-counsel-on-terra-2-0-xrp-and-a-bitcoin-spot-etf/


    Gillibrand/Lummis bill: 
    https://fortune.com/2022/06/09/cryptocurrency-senate-washington-lummis-gillibrand-regulation-congress/ Proposed Crypto Legislation is ‘Big Win’: https://unchainedpodcast.com/proposed-crypto-legislation-is-big-win/  
    Terra: Bloomberg on Terra collapse: https://www.bloomberg.com/news/articles/2022-05-24/terra-collapse-triggers-83-billion-decentralized-finance-slump SEC investigation of Terra: https://decrypt.co/102460/sec-terra-ust-s

    • 55 min
    Why Possible Insolvencies by Celsius and 3AC Could Spell Disaster for Crypto

    Why Possible Insolvencies by Celsius and 3AC Could Spell Disaster for Crypto

    Mika Honkasalo, independent crypto researcher, discusses what is happening with Celsius and Three Arrows Capital, the importance of having proper risk management, and the contagion effects on the industry.
     
    Show highlights:
    why is it so significant that Celsius paused withdrawals what is stETH and why is it important to understand the Celsius situation how the Luna/UST debacle started a contagion effect in the crypto space why Celsius’s investors won’t bail the company out what will happen to Celsius’s retail customers what Three Arrows Capital (3AC) is and whether they have a solvency problem how 3AC was levered long and whether they had poor risk management who will be hurt if 3AC goes under what would be the effect of 3AC and Celsius collapsing which types of funds that Mika will be eyeing to see if they also end up in a similar situation to 3AC and Celsius why Mika would counsel anyone who keeps their money with centralized crypto lenders to scrutinize their practices  
    Thank you to our sponsors!  
    Crypto.com: https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021 
    Ava Labs: https://avax.network
     
    EPISODE LINKS  
    Mika Honkasalo
    Twitter: https://twitter.com/mhonkasalo Substack: https://mhonkasalo.substack.com/ Mika’s writings on The Block: https://www.theblockcrypto.com/author/mika-honkasalo  
    Mika’s blog post on the stETH-ETH peg: https://mhonkasalo.substack.com/p/stetheth-peg-not-a-peg-presents-a?s=r
     
    Celsius announcement that they would be withholding assets: https://twitter.com/CelsiusNetwork/status/1536169010877739009?s=20&t=hL-ZsBSKZOLF-whTwNmjgw
     
    Nexo’s offer to buy Celsius assets: 
    https://twitter.com/Nexo/status/1536256598993211393?s=20&t=vKmJCZGNToaOqZU-TEjcDg
     
    Celsisus’s investors unlikely to bail out company: 
    https://www.wsj.com/articles/celsius-networks-investors-unlikely-to-provide-more-funds-to-bail-out-crypto-lender-11655395113
     
    Celsius hires restructuring lawyers: 
    https://www.wsj.com/articles/crypto-lender-celsius-hires-restructuring-lawyers-after-account-freeze-11655250575?tpl=br
     
    Why staked ETH is part of Celsius’s and 3AC’s woes: 
    https://www.coindesk.com/markets/2022/06/14/staked-ether-becomes-focus-of-crypto-stress-from-celsius-to-three-arrows/ 
     
    Conor Ryder on the stETH liquidity problem
    https://twitter.com/ConorRyder/status/1537130483007508480?s=20&t=pZGZf17ed_DyOS18CHExmQ
     
    The DeFi Edge on the 3AC situation: https://twitter.com/thedefiedge/status/1537465349976694786?s=20&t=Q29mo3EKSASasTenHVEm4Q
     
    Who else has exposure to 3AC: 
    https://fortune.com/2022/06/16/crypto-crash-hedge-fund-three-arrows-capital-insolvency-rumors-novogratz/ 
     
    3AC withholding $1M in assets from 8 Blocks Capital: 
    https://twitter.com/Danny8BC/status/1537224378554806272?s=20&t=Q29mo3EKSASasTenHVEm4Q
     
    Meltem Demirors explains the problem from the balance sheet perspective:
    https://twitter.com/Melt_Dem/status/1537155214897201153?s=20&t=Q29mo3EKSASasTenHVEm4Q
     
    Adam Levitin on Celsius bankruptcy
    https://twitter.com/AdamLevitin/status/1536932912674836481?s=20&t=Q29mo3EKSASasTenHVEm4Q
     
    degentrading on Why Celsius and 3AC going under should cause you to worry
    https://twitter.com/hodlKRYPTONITE/status/1536902115540742144?s=20&t=Q29mo3EKSASasTenHVEm4Q
     

    • 37 min

Customer Reviews

4.6 out of 5
1.1K Ratings

1.1K Ratings

graygler ,

DC episode

Smart insights on Washington this week

blablayaddayadda ,

No Bro Yo

Intelligent and informed discussion. Highly recommend. I’m a guy sick of hearing guys.

Missy Richland ,

Very informative

I have only been listening for the past 2 weeks however there is so much information discuss on this show. If your really in cryptocurrencies then you should most certainly listen to this show.

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