Unchained

Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest in crypto. In this episode, the crew is joined by special guest Joe Weisenthal, co-host of Bloomberg’s Odd Lots podcast, for a wide-ranging, unfiltered conversation. They dive into whether Bitcoin is becoming digital gold, why Ethereum’s value might be leaking away, and how stablecoins are quietly reshaping global finance. Joe challenges the panel on NFTs, DePIN, and whether any of crypto’s big promises have actually delivered. Plus, they debate the rise of MicroStrategy copycats, the failure of crypto social apps, and why Worldcoin’s orb-pilled vision might actually make sense.Show highlights🔹 Bitcoin = Safe Haven? – Why BTC is acting like gold in a crisis while ETH and altcoins are tanking🔹 Ethereum’s Value Leak – Joe questions why ETH hasn’t captured any upside from stablecoins or NFTs🔹 The MicroStrategy Clone Wars – Solana copycats are trying the Saylor playbook… but will it work?🔹 Worldcoin’s Creepy Appeal – Joe is orb-pilled: privacy is dead, but proof-of-personhood might just work🔹 The Freeport Theory of Bitcoin – Could BTC be the decentralized answer to offshore gold storage?🔹 Are Stablecoins the Eurodollars of Crypto? – Haseeb lays out how stables quietly rewrote the financial system🔹 Ethereum’s L2 Gamble – The panel debates if Ethereum’s scaling strategy caused value to bleed out🔹 The DePIN Dilemma – Is decentralized infrastructure a dead-end or just early? Joe wants receipts🔹 Crypto Social Media? – Joe’s skeptical: why decentralized comms hasn’t clicked yet🔹 Utopia or Bust? – If crypto’s gonna be this expensive, Joe says it better deliver a better worldHosts⭐️Haseeb Qureshi, Managing Partner at Dragonfly ⭐️Robert Leshner, CEO & Co-founder of Superstate⭐️Tarun Chitra, Managing Partner at Robot Ventures⭐️Tom Schmidt, General Partner at Dragonfly Guest⭐️ Joe Weisenthal, Editor at BloombergDisclosuresTimestamps00:00 Intro01:57 Bitcoin's Market Behavior06:53 Bitcoin as a Safe Haven15:56 Economic Value in Crypto19:51 Stablecoins, NFTs, and Worldcoin36:00 Blockchain's Value in Social Networks41:20 Reality of Crypto Utopias49:19 The Future of Stablecoins and Regulation54:54 MicroStrategy and Bitcoin Investments Learn more about your ad choices. Visit megaphone.fm/adchoices

Zach Pandl, Head of Research at Grayscale Investments, dives into the potential fallout of Donald Trump's threats to fire Fed Chair Jerome Powell. He discusses the critical importance of Fed independence and how these political maneuvers could undermine the U.S. dollar's credibility. The conversation explores a worrying shift in investment strategies, moving away from dollar assets towards Bitcoin and commodities. Plus, hear insights on how young crypto investors might respond to their first bear market, and parallels drawn between today’s economy and Argentina's.

Yat Siu, Chairman of Animoca Brands, and Emily Parker, a key advisor at the Global Blockchain Business Council, delve into Asia's unique crypto perspective. They discuss China's 'banned' crypto narrative and clarify the calm sentiment around U.S. tariffs. The duo highlights how Hong Kong is emerging as a crucial jurisdiction, while Japan and Korea are shaping future regulations. They also explore the booming crypto gaming sector and what lessons the West can learn from Asia's crypto landscape.

Jesse Pollak, Head of Base at Coinbase, unpacks the whirlwind surrounding the ‘Coined It’ memecoin, discussing its explosive rise and fall and its implications for creator monetization. Meanwhile, Guy Young and Carlos Domingo introduce Converge, a groundbreaking chain aimed at merging traditional and decentralized finance. They share insights on its innovative tech stack and security measures, addressing how it will reshape the on-chain landscape for institutions while also ensuring better user experience. A vibrant discussion on the future of tokenized assets rounds out this exciting conversation.

The discussion kicks off with the shocking 90% collapse of the OM token, revealing deeper issues in market manipulation and fake valuations. Binance's questionable listings face scrutiny as experts debate the ethics of market-making practices. Trump’s tariffs spark wild theories on how they might favor Bitcoin amidst economic chaos. Vitalik Buterin stirs the moral pot by critiquing 'bad apps' in crypto, igniting a passionate debate about ethical development. The panel dives into the complexities of crypto valuation and the need for transparency as they navigate this tumultuous landscape.

Markets are on edge as tariff tensions rise and liquidity wanes. The discussion highlights Trump’s tariff strategy and its potential impact on market confidence. There's speculation around a 'Trump put' and whether cryptocurrency can thrive amid global chaos. They delve into the turmoil around the yuan's devaluation and the psychological factors that could reignite investor enthusiasm. A look at hedge fund behaviors and the evolving role of ETFs adds depth to the conversation on navigating financial uncertainties.

Matt Hougan, CIO of Bitwise, and Matthew Sheffield, Senior Trader at FalconX, dive into the crossroads of the crypto market. They discuss the potential for Bitcoin to soar to $200K, driven by institutional interest and supply dynamics. The conversation highlights the shift from speculative trading to fundamental analysis, exploring the impact of geopolitical factors and treasury volatility on crypto perceptions. They also tackle the resilience of decentralized finance and how the current market stresses might yield new investment opportunities.

Seth Ginns, Managing Partner at CoinFund, provides keen insights on the current crypto landscape amid fluctuating tariffs and macroeconomic shifts. He explains how recent tariff announcements hit crypto markets harder than expected. Despite volatility, he remains cautiously bullish, discussing indicators for potential bullish trends. The conversation also touches on the looming possibility of an altcoin season and the evolving narrative of Bitcoin as a safe haven, all while navigating the influence of U.S. political policies on the crypto realm.

In this discussion, Jeff Park, Head of Alpha Strategies at Bitwise Asset Management, sheds light on Bitcoin's potential surge to $200K amidst macroeconomic chaos. He argues that Bitcoin may surpass altcoins in institutional preference, especially with the rise of ETFs. The conversation delves into the implications of tariffs and stagflation on the U.S. market, the strategic shift in Bitcoin's role as a store of value, and Ripple's significant acquisition of Hidden Road, suggesting a transformative era for crypto markets.

The discussion dives into the potential U.S. recession and its surprising absence in market pricing. Tariffs are under scrutiny, as the hosts question their real impact on consumers and local businesses. They explore whether Bitcoin could become a safe haven amid economic turmoil. Comparisons to past downturns, including 2022 and 2008, add depth to the analysis of current market volatility. With humor, they dissect political narratives surrounding tariffs and their broader economic implications, reflecting on the complexities of today’s financial landscape.