Unchained

Arthur Hayes, the CIO of Maelstrom and former BitMEX CEO, discusses the potential positive effects of Trump's tariffs on Bitcoin and the crypto market. He explores the concept of a 'fiat liquidity bonanza' and its implications, along with the ongoing dynamics between centralization and decentralization in crypto trading. Hayes critiques the push for government Bitcoin reserves and dives into the evolving landscape of decentralized exchanges. He also shares insights on future price expectations for Bitcoin, Ethereum, and Solana.

Omar Kanji, a Partner at Dragonfly, delves into Circle's recent IPO filing for USDC and what it means for the stablecoin landscape. He discusses the staggering regulatory compliance costs Circle faces, contrasting it with Tether's strategy. The valuation of Circle at $5 billion raises eyebrows, and Kanji explores how forthcoming regulations could reshape competition. Moreover, he highlights the potential challenges posed by Trump's tariffs on Circle's growth, providing a nuanced look at the evolving crypto landscape.

Join Steven Ehrlich, High Scribe of the Unchained Kingdom, as he navigates the tumultuous waters of Trump’s tariffs and their global ramifications. The discussion delves into how these tariffs may impact U.S. manufacturing jobs and whether they can truly revive the middle class. They explore the chaotic market reactions, the potential fallout like recession and stagflation, and how all of this interplays with the crypto landscape. With insights into consumer behavior and complex economic policies, it’s a captivating look at today's shifting economic tides.

Hester Peirce, known as "CryptoMom," is an SEC Commissioner and a champion of a freedom-first regulatory approach. In this engaging discussion, she reflects on the SEC's shift in vibe under the current leadership and advocates for trust-building with crypto founders. Peirce also tackles the complexities of meme coins, suggesting they may just be collectibles. She critiques the outdated Howey Test, emphasizes self-regulation through proof-of-reserves, and ponders what real regulatory clarity might look like in the crypto landscape.

Kain Warwick, founder of Infinex App and Synthetix, dives into the murky waters of crypto market making. He unpacks how some market makers have strayed into unethical practices, highlighting a recent incident involving Binance. Kain details the intricacies of token evaluations and the centralization crisis exemplified by the $JELLY attack on Hyperliquid. He also addresses the strategic dilemmas in balancing security and user experience in DeFi, shedding light on the innovative solutions Infinex is developing to navigate these challenges.

The hosts dissect the Hyperliquid controversy, revealing the murky waters of decentralization and liquidity manipulation. They dive into Say Foundation's audacious plan to put 23andMe's genetic data on the blockchain, raising alarm about privacy and ethics. The conversation shifts to the competitive landscape of stablecoin regulations, contrasting the Stable Act with the Genius Act, and examining the impact on financial institutions. Expect witty banter, a dose of market analysis, and a friendly wager on crypto outcomes!

Doug Colkitt, Founder and CEO of Ambient Finance, sheds light on the recent whale attack that nearly cost Hyperliquid $15 million. He discusses how a memecoin was leveraged for this high-stakes manipulation. Colkitt navigates the complexities of perpetual swaps, while diving into the controversial decisions made by Hyperliquid that raised eyebrows in the DeFi community. He also tackles the criticism surrounding these actions, potential preventative measures for future attacks, and the implications for decentralized trading practices.

Investors are feeling a mix of optimism and anxiety as Trump’s tariffs loom. There's a surprising rebound in tech stocks and confidence is slowly returning, driven by the latest FOMC meeting insights. BlackRock's bullish stance on Bitcoin during bear markets raises eyebrows, especially as ether seems poised for a comeback. The dynamic interplay between cryptocurrencies and traditional equities is highlighted, revealing fresh trading strategies amid the evolving market landscape. Expect volatility, but also new opportunities for savvy traders.

Join Ethereum Foundation Research co-leads Alex Stokes and Barnabé Monnot as they dive into Ethereum's Pectra and Fusaka upgrades. They discuss how these enhancements aim to bolster Ethereum's performance against competitors like Solana. While addressing the recent challenges faced during testnet launches, they explore the critical balance of decentralization and the implications for Ethereum's status in the smart contract arena. Tune in for insights on how Ethereum plans to navigate its evolving landscape and the changing leadership dynamics within the foundation.

Ryan Watkins, Co-founder at Syncracy Capital and expert in the crypto economy, shares groundbreaking insights on the new trend of "Fat Apps" out-earning traditional blockchains. He discusses why applications like Ethena are thriving in revenue generation, and what this means for major platforms like Ethereum and Solana. Watkins explains Ethena's bold move to launch its own blockchain, the changing dynamics of value capture, and how future blockchain architectures will evolve to stay competitive in this fast-paced market.