Unchained

Anatoly Yakovenko, co-founder of Solana Labs, Chris Burniske, partner at Placeholder, and Nick White, COO at Celestia Labs, dive into the debate of modular versus monolithic blockchains. They discuss how Solana embodies a monolithic approach while Celestia champions modularity, each with distinct advantages for scalability and customization. Their conversation also reveals insights on driving the next crypto bull cycle and their predictions for future developments in the crypto landscape, including innovative projects and security measures.

Lucas Bruder, co-founder and CEO of Jito Labs, shares insights on revitalizing Solana amidst recent market dynamics. He discusses how Jito mitigates maximum extractable value (MEV) issues, particularly spam, enhancing network efficiency. Bruder breaks down the differences between Jito and Flashbots, and the impact of Solana’s speed on Jito's functionality. He also explains how the recent Jito airdrop may mark a new era for Solana, raising optimism among its supporters and addressing key challenges in the ecosystem.

Arthur Hayes, CIO of Maelstrom and former BitMEX CEO, shares his confident outlook on crypto's future, predicting a potential bull run in 2024 amid renewed central bank money printing. He discusses the unique resilience of blockchain post-FTX, why Bitcoin stands as true money while deeming Ethereum a 'shitcoin,' and the impact of spot Bitcoin ETFs. The conversation dives into the evolving landscape of decentralized finance and the cultural significance of meme coins, emphasizing investment strategies for a transformative financial environment.

2023 was a tumultuous year for crypto, highlighted by the dramatic trial of Sam Bankman-Fried and regulatory scrutiny from the SEC. Bitcoin Ordinals and Ethereum's Shanghai upgrade showcased innovation amidst the chaos. A looming bull market emerges with the potential approval of spot Bitcoin ETFs. The podcast discusses the troubling mismanagement unveiled in the Celsius bankruptcy and the impact of new regulations on the industry. The growing trend of point systems in crypto applications also garners attention, promising to shape user engagement.

Li Jin, cofounder of Variant Fund and expert in crypto points systems, sheds light on how these systems are transforming the crypto landscape. She explains their role in boosting user engagement, drawing parallels with traditional loyalty programs while warning of potential pitfalls like fostering disloyalty. Jin emphasizes the importance of thoughtful design and product-market fit to ensure these programs translate to economic value. Additionally, she discusses the future potential of moving points on-chain and its implications for both users and founders.

Cory Klippsten, Founder and CEO of Swan Bitcoin, previously a journalist and consultant at top firms, is bullish on Bitcoin’s future. He believes Bitcoin could reach $1 million by 2030 and argues that most altcoins have little value. He discusses Swan's expansion into Bitcoin-only financial services and their plans for a dedicated trust company to enhance investor security. Cory shares his insights on the role of hedge funds in Bitcoin ETF discussions, the evolution of lending with Bitcoin, and his skepticism surrounding Bitcoin Ordinals and the crypto VC landscape.

The hosts dive into the cryptocurrency winners and losers of 2023, spotlighting Solana's remarkable rise and Circle's fall. They explore cultural phenomena, from memorable memes to TikTok's Pinky Doll, while pondering the dynamic interplay of crypto and AI ideologies. The conversation shifts to the concept of a Bitcoin ETF as a cultural touchstone, alongside critiques of market trends and significant flops. Bold predictions for 2024 wrap up the chat, hinting at potential shifts in regulations and the crypto landscape.

James Seyffart, a research analyst at Bloomberg Intelligence specializing in crypto assets and ETFs, discusses the excitement surrounding the anticipated approval of spot Bitcoin ETFs. He highlights the pivotal issue of cash versus in-kind creation models and their implications for the market. Seyffart predicts ETF listings soon and analyzes how an approval might impact major players like Grayscale. He also shares insights into the SEC's evolving stance on Ethereum, signaling a potential shift in regulatory perspectives for cryptocurrencies.

Michael Dawson, a partner at WilmerHale specializing in financial compliance, and Dorothy DeWitt, founder of Tolt Strategies and former CFTC director, dive into Binance's recent $4.3 billion settlement with the U.S. government. They discuss the role of compliance monitors, why they were deemed necessary, and how this impacts the broader crypto landscape. The pair also explore challenges faced by Binance in complying with U.S. regulations and the potential ripple effect of increased monitorships across the industry.

Raoul Pal, co-founder and CEO of Real Vision, shares his insights on the future of cryptocurrency and macroeconomics. He discusses the anticipated impact of spot Bitcoin ETFs, likening them to financial breakthroughs that will attract traditional investors. Pal predicts a bullish 2024 for crypto with Bitcoin possibly hitting $100K-$200K. He also compares Ethereum and Solana, highlighting their unique advantages. Additionally, he emphasizes the importance of institutional responses to Ethereum ETFs and the evolving macroeconomic trends influencing the market.