The Bybit Hack: How It Happened

Crypto natives entered 2025 with many expectations, but bingo cards likely did not include world leaders launching memecoins.

In this first installment of a two part Unchained Special, Ambient Finance founder Doug Colkitt and “Gwart” join to offer a whimsical take on some of the years major happenings as it pertains to crypto.

How did an erstwhile dropshipper get in bed with world leaders and convince them to launch memecoins? And did Tom Lee's “good hair” save ETH?

Thank you to our sponsor, Walrus! http://walrus.xyz/

Guests:

• Doug Colkitt, Co-founder of Fogo and Ambient Finance

• Gwart, Host of The Gwart Show

Links:

• Unchained:

• Why Lyn Alden Isn’t a Fan of Trump’s Memecoins, but Neutral on a Strategic Bitcoin Reserve

• The Chopping Block: Trump’s Crypto Shake-Up, Solana’s Big Moment, that Changes Everything

• Why Would Argentine President Javier Milei Protect Kelsier’s Hayden Davis?

• How the $1.5 Billion Bybit Hack Could Have Been Prevented

• Which Crypto Assets Belong in a Reserve? This VC Says Not XRP and ADA

• White House Crypto Summit: Two Attendees Share Why It Matters

• Arthur Hayes and Hanson Birringer on Hyperliquid’s Success (And What Could Stop It)

• Hyperliquid Trader Makes $87M in 70 Days, Loses It In Five

• The Chopping Block: Tom Lee the New Saylor? DAT Consolidation, Token Wrappers Under Fire

• Circle, Issuer of the $61.5 Billion USDC, Raises $1.1 Billion in Landmark IPO

• Why Arbitrum Won Over Robinhood + A $59 Million Polymarket Controversy

• DAT Stocks Are on Sale. Are They a Buy? Plus, Why Crypto Is Dead

Timestamps:

🚀 00:00 Introduction 

😵 1:20 How Trump and Melania surprised the crypto community with Solana memecoins

😅 4:46 How Hayden Davis went from dropshipping to launching coins with world leaders

🫠 8:39 Could a test transaction have saved Bybit from the largest heist of all time?

🫡 13:34 How Ripple lobbyists reportedly got Trump to shout out an XRP reserve

🤣 17:55 Was the White House Crypto Summit hijacked by FIFA?

🤺 20:20 Hyperliquid's Run and the CZ v. Jeff Memes

😅 26:48 Who is James Wynn, really?

😆 30:36 What sparked ETH's comeback? Tom Lee's good hair or EF reforms?

📈 35:51 How Circle's IPO run blindsided Arthur Hayes

🎇 38:48 Robinhood's grand on-chain debut

🫠 43:58 Still early or DOA? Base's hit and miss campaigns

🤔 54:23 How does the DAT mania end?

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