
Unchained
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.
Latest episodes

May 27, 2025 • 1h 22min
Does High REV Signal a Blockchain's Strength or Its User Exploitation? - Ep. 841
Tom Dunleavy, Head of Venture at Varys Capital, argues against the emphasis on Real Economic Value (REV) as a true measure of blockchain strength. Austin Federa, Co-founder of DoubleZero, counters that REV reflects genuine blockchain activity and demand. They dive into whether high REV indicates product-market fit or just noise and discuss the implications of Layer 2 tokens. The debate explores how metrics like REV can be gamed and the future of transaction fees, touching on the broader implications for blockchain valuation.

52 snips
May 23, 2025 • 46min
Why a U.S. Ban on Yield-Bearing Stablecoins Would Help 'Too Big to Fail' Banks - Ep. 840
Austin Campbell, a financial markets expert and professor at NYU Stern, discusses the potential fallout of a U.S. Senate bill that could ban yield-bearing stablecoins. He explains how this legislation could favor 'too big to fail' banks while disadvantaging American issuers. The conversation dives into the motivations behind the Democrats’ push for the ban and the implications for consumers. Campbell also touches on the evolving landscape for projects like Ethena and examines whether yield-bearing stablecoins should be classified as securities.

11 snips
May 21, 2025 • 1h 22min
Bits + Bips: Why Rate Cuts Are Less Likely This Year, but Crypto's Outlook Is Positive - Ep. 839
In this engaging discussion, Alex Kruger, founder of Asgard, reveals his skepticism about Coinbase as a product despite its S&P 500 inclusion. Ram Ahluwalia, CEO of Lumida, shares fascinating anecdotes about the job market while analyzing the implications of the U.S. credit downgrade on both traditional and crypto markets. Noelle Acheson, author of the 'Crypto Is Macro Now' newsletter, emphasizes the connection between stablecoins and U.S. geopolitical strategy. The trio also debates the potential for Fed rate cuts and the significance of the altcoin ETF delay.

25 snips
May 20, 2025 • 1h
Linda Xie on How Mini-Apps Are Helping Farcaster Take on Web2 Social Media - Ep. 838
Linda Xie, the Developer Ecosystem Lead at Farcaster, shares her journey from crypto skepticism to advocacy. She discusses how Farcaster aims to revolutionize social media by creating an open, portable network that addresses the flaws of legacy platforms. The conversation highlights the innovative mini-app ecosystem designed to boost user engagement and attract developers. Xie also reflects on her family's history that shaped her understanding of Bitcoin, and why she believes crypto communities thrive in decentralized environments.

15 snips
May 16, 2025 • 47min
How the Attack on Coinbase Shows the Dangers of Centralized Exchanges - Ep. 837
In this insightful discussion, security experts Jameson Lopp, co-founder and CTO at CASA, James Wester, Research Director at Javelin, and Alexander Leishman, CEO of River, address a shocking Coinbase data breach. They uncover how hackers exploited human vulnerabilities to steal sensitive data. The trio debates whether KYC regulations increase risk, emphasizes the need for better protective measures, and highlights that in crypto, people may be the greatest security threat. Their analysis offers actionable insights for improving user safety in the crypto landscape.

32 snips
May 15, 2025 • 57min
The Chopping Block: Rugs, Incentives & Float Lies, Mosi Breaks It All Down - Ep. 836
Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Robert Leshner, and Tarun Chitra break down the biggest stories in crypto. This week, we’re joined by one of the most iconic anons on Crypto Twitter: Mosi, aka @vanacharma. Known for calling out sketchy tokenomics and vaporware valuations, Mosi joins the crew for a ruthless teardown of market maker games, OTC dumps, and the “hallucination yield” driving this cycle’s worst bets. From the $60M Movement Labs fiasco to OTC pump schemes and the collapse of community trust, the gang goes deep on why crypto’s market structure is broken—and what it’ll take to fix it. If you’ve ever wondered how the sausage gets made in crypto token launches, this one’s for you.
Show highlights
🔹 $60M Movement Meltdown – How a token deal gone wrong became crypto’s latest fiasco and dragged down one of the cycle’s most hyped L1s.
🔹 Anon vs. Everyone – Iconic CT anon @vanacharma breaks down the float games, OTC dumps, and tokenomics illusions plaguing the industry.
🔹 Market Makers or Middlemen? – When is liquidity real, and when is it just backdoor exits? We unpack how MM incentives are getting abused.
🔹 Hallucination Yield & Vapor Valuations – Why funds chase tokens with the fakest traction — and what happens when reality hits.
🔹 Are VCs to Blame? – The crew debates whether investors are complicit in these token games or just bad at picking founders.
🔹 Pump, Dump, Repeat – How OTC discounts, fake float, and circular trading fuel a Ponzi-like system hiding in plain sight.
🔹 Why Retail Gets Burned – Most people never stood a chance. We walk through how asymmetric info and hidden unlocks wreck public buyers.
🔹 Can This Be Fixed? – Haseeb and Mosi clash on the path forward: enforceable disclosures, exchange oversight, or do-nothing chaos?
🔹 Self-Regulation Is the Only Way Out – Before the SEC nukes everything, the industry must grow up. Here’s where that starts.
⭐️Haseeb Qureshi, Managing Partner at Dragonfly ⭐️Robert Leshner, CEO & Co-founder of Superstate⭐️Tom Schmidt, General Partner at Dragonfly
Guest
⭐️ Mosi, Just a Kid from Africa
Timestamps
00:00 Intro
01:22 Mosi’s Crypto Philosophy
03:13 Market Structure Issues in Crypto
08:07 OTC Deals & Market Manipulation
15:36 Fixing the Market Structure
23:56 Self-Correcting Market Dynamics
29:19 VC Incentives and Market Impact
36:08 Retail vs. Institutional Investors
52:26 Superstate's Vision for Onchain Equities
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14 snips
May 14, 2025 • 1h 13min
Bits + Bips: Are the U.S. and China About to Reshape the Global Economy? - Ep. 835
Join Peter Tchir, Head of Macro Strategy at Academy Securities, and Zach Pandl, Head of Research at Grayscale, as they dive into pivotal financial discussions. They dissect the recent U.S.-China tariff pause and its implications for the global economy. The conversation touches on America's soaring deficit and why policymakers might underestimate the crypto community. They also explore Ethereum's unique positioning and debate the risks and rewards surrounding Solana, all while considering the specter of recession versus stagflation in this shifting economic landscape.

May 13, 2025 • 1h 17min
Crypto Pump & Dumps Have Become the Ugly Norm. Can They Be Stopped? - Ep. 834
José Macedo, founder of Delphi Labs, Omar Shakeeb, cofounder of SecondLane, and Taran Sabharwal, CEO of STIX, dive into the dark side of cryptocurrency trading. They reveal how market makers can manipulate prices and why insider selling is more rampant than many believe. The discussion centers on notorious projects like Movement Labs and the systemic issues in crypto fundraising, raising urgent calls for transparency and reform to protect retail investors. Insightful and eye-opening, this conversation challenges the industry's status quo!

20 snips
May 10, 2025 • 1h 5min
The Chopping Block: Can Crypto Clean Itself Up? Market Structure, Trust, and Regulation - Ep. 833
Evgeny Gaevoy, Founder and CEO of Wintermute, dives into the complex world of crypto market making, exposing the dark side of a recent $38M token dump. He discusses the blurred lines between providing liquidity and manipulative profit-sharing, revealing why VCs turned a blind eye. With insights on the necessity for transparency and the challenges of navigating market integrity, Evgeny also highlights the urgent need for better disclosure standards in the crypto space, raising critical questions about investor trust and the future of regulation.

21 snips
May 9, 2025 • 28min
Why the Senate Stablecoin Bill Stalled & What It Means for Crypto - Ep.832
Kristin Smith, CEO of the Blockchain Association, and Amanda Tuminelli, executive director of the DeFi Education Fund, dive into the political drama surrounding the stalled GENIUS Act—the pivotal federal stablecoin bill. They discuss the shifting allegiances among lawmakers, especially Democrats who have changed their stance on crypto. The impact of Trump's crypto connections on the legislative process is analyzed, alongside the ongoing fight for a deal this year, highlighting the complexities of bipartisan support and market implications.