Unchained

The hosts dive into the evolving landscape of decentralized finance (DeFi) and what 'programmable risk management' could mean for its future. They discuss how the recent Balancer hack exposed crucial differences in project responses to exploits. The myth of 'pure DeFi' is put under the microscope, questioning its viability. Additionally, insights from the MIT Brothers trial reveal legal boundaries in the crypto space, while the long-awaited crypto market structure bill is analyzed, with predictions pushing its passing to 2027.

Matt Zhang, the founder of Hivemind Capital, and Felix Jauvin, head of content at Blockworks, share insights on the evolving interplay between policy and crypto markets. They explore the implications of a $2,000 tariff dividend on inflation and discuss how rising U.S. deficits could spur demand for digital assets. The conversation delves into the potential of DATs trading below their net asset value and the Bank of England's stablecoin proposals, while also debating the comparative value of XRP and Ripple equity in a rapidly changing financial landscape.

Join John Todaro, Managing Director at Needham & Company with expertise in Bitcoin mining and AI, and Kevin Dede, Senior Research Analyst at H.C. Wainwright, as they delve into the evolving landscape of Bitcoin mining. They explore why miners are pivoting to AI, the implications of Wall Street valuing them as data infrastructure, and the potential red flags investors should watch for. The duo critiques hashprice trends and discusses the financial pressures facing miners while pondering if rising AI demand can justify the massive infrastructure investments.

Join Shuyao Kong, co-founder and tech visionary of MegaETH, and Amir Almaimani, head of ecosystem strategy, as they unpack the revolutionary potential of their real-time blockchain. They explore why they chose to enhance Ethereum as a layer 2, aiming to blend high-performance with Web2-like user experiences. The duo discusses innovative tokenomics, from their unique MEGA token to the concept of proximity markets. Tune in to discover how MegaETH plans to stand out and build an engaging ecosystem for developers and users alike.

The panel dissects the recent $120 million Balancer v2 hack, exploring how even well-audited contracts can fail. They debate the implications of rollbacks and censorship in smaller chains, pondering whether such measures are a necessary evil. The collapse of Stream Finance spurs discussions on off-chain risks and the lessons learned in DeFi’s wild credit cycles. Amid chaos, experts offer sage advice for founders: embrace a survival mindset and focus on long-term resilience, as crypto’s fundamentals remain fundamentally strong.

Brett Harrison, former president of FTX.US and founder of Architect Financial Technologies, is revolutionizing finance with perpetual futures. He discusses bringing this 24/7 leveraged trading product into traditional markets like stocks and commodities. Harrison explains the differences between CFDs and perpetual futures, regulatory compliance with the SEC and CFTC, and the importance of reliable pricing benchmarks. Plus, he highlights how tokenization and innovative backstop mechanisms can maximize efficiency in trading. Will perpetuals be the future of trading? Tune in to find out!

Joe Vezzani, CEO of LunarCrush, and Yann Allemann, co-founder of Swissblock, dive deep into the current turmoil in the crypto market. They discuss the psychological impact of Bitcoin's recent price drop, retail sentiment hitting all-time bearish levels, and the potential for a surprising blow-off top. The guests analyze the unwinding of digital asset treasuries, the effects of macroeconomic shifts like the US government shutdown, and emerging trends in privacy coins. Both hint at unexpected all-time highs despite the current slump.

Teddy Fusaro, President of Bitwise, provides insights into the burgeoning institutional interest in Bitcoin despite its recent dip below $102,000. He discusses how Ripple's ecosystem could significantly impact the market and delves into the implications of Tether's immense valuation. The conversation shifts toward the need for regulatory clarity and the potential benefits of modular legislation for the industry. Fusaro emphasizes the growing preference for ETFs due to their simplicity and safety, further highlighting how they cater to both retail and institutional investors.

Kaledora Linn, co-founder of Ostium and dubbed the 'Empress of RWAs', shares her insights on redefining on-chain equity derivatives with a hybrid CFD model. She discusses the chaos of a 365% funding rate that challenges retail traders and how Ostium aims to stabilize this with innovative liquidity design. The conversation dives into the differences between short-term speculators and long-term investors, as well as the implications of recent political events on crypto's credibility. Tune in for an engaging exploration of the evolving landscape of tokenized assets!

Rob Hadick, General Partner at Dragonfly, and Sam MacPherson, Co-founder and CEO of Phoenix Labs, bring their insights into the competitive landscape of stablecoins. They delve into Ethena's market cap drop and the challenges of liquidity and regulatory hurdles. The duo discusses emerging trends like stablecoin-as-a-service and the race involving traditional financial giants like Visa. Additionally, they explore the implications of Tether's new USAT launch and how strategic partnerships could influence stability and adoption in the space.