Unchained

J.W. Verret, an Associate Professor of Law specializing in securities and banking law, teams up with Jason Schwartz, a tax partner and co-head of the Digital Assets and Blockchain Practice at Fried Frank. They dive into Friend.tech, discussing whether the platform's 'keys' could be classified as securities. The conversation delves into tax implications for users, from gains to airdrops, and challenges surrounding privacy on the app. They also explore how Friend.tech differs from previous attempts at decentralized social media and ponder its future impact.

This week, Eric Balchunas, Senior ETF analyst at Bloomberg Intelligence, dives into Grayscale's recent legal victory against the SEC and its implications for a spot Bitcoin ETF. He discusses why the approval likelihood has surged from 50% to 75% and the potential influx of investment that could follow. Eric unpacks the SEC's possible responses, the competition among major firms like BlackRock and Fidelity, and how a spot ETF could serve as a bridge for Baby Boomers into the crypto world.

Paul Grewal, the Chief Legal Officer of Coinbase, dives deep into the recent court victory for Grayscale against the SEC, which he calls monumental for the crypto landscape. He discusses the SEC's evolving stance, particularly how the fallout from FTX has influenced its regulatory approach to Coinbase. Grewal shares insights on the significance of a potential spot Bitcoin ETF approval, the challenges posed by the SEC's proposed regulations, and the ongoing legal debate surrounding Tornado Cash. His bold views on reforming crypto regulation spark an engaging discussion.

Mike Cahill, CEO of Douro Labs and an expert in both traditional finance and crypto, shares insights into the evolving world of oracles in decentralized finance. He discusses Pyth Network's innovative solutions for delivering real-time data and its upcoming Perseus upgrade. The conversation covers the challenges of oracle reliability, the significance of institutional data providers, and the remarkable growth of Pyth amidst the changing crypto landscape. Cahill also emphasizes Douro Labs' role in enhancing the network and the future potential of decentralized finance.

Amanda Tuminelli, Chief Legal Officer at the DeFi Education Fund, dives into the controversial indictment of Tornado Cash co-founders. She clarifies the government's position on money laundering allegations and challenges the understanding of blockchain by regulators. Tuminelli discusses potential implications of these charges for all software developers and whether they could signal the end of DeFi in the U.S. The conversation raises urgent questions about KYC processes and the essential balance between privacy rights and legal scrutiny in the crypto landscape.

Jesse Pollak, lead contributor at Base, a blockchain by Coinbase, shares insights on the platform's goal to onboard a million developers and a billion users. He highlights why it's still 'day one' for Base and discusses its advantages over other layer 2 solutions. The conversation dives into the rapid success of Friend.Tech, the influence of MEV bots on transactions, and the importance of innovative incentives to foster growth. Pollak also clarifies the competition and collaboration between Base and Optimism, shaping the future of decentralized applications.

Rune Christensen, cofounder of MakerDAO and a key player in decentralized finance, shares his journey from disillusionment with DAOs to leading innovative reforms. He discusses the ambitious 'Endgame Plan,' which aims to tackle voter apathy through alignment engineering, gamification, and incentives. Christensen also highlights the significance of governance boundaries and the strategic rebranding of MakerDAO with new tokens while maintaining core ones. He believes these changes could revolutionize the industry and create a stable future for DAOs.

Brian Klein, a partner at Waymaker, provides critical legal insights into the challenges facing Sam Bankman-Fried, now detained for attempting to intimidate witnesses. The dynamics of trial prep shift dramatically, raising questions about possible plea deals and delays. Meanwhile, Michael Del Castillo offers a recap of crypto’s turbulent landscape, highlighting ongoing SEC battles and industry shake-ups. The interplay between legal strategies and the evolving crypto scene makes for a riveting discussion.

Evgeny Gaevoy, CEO of Wintermute Trading, shares his expertise as a leading crypto market maker. He discusses strategies for navigating quiet crypto markets and highlights the dangers of 'zombie' exchanges. The conversation dives into Base’s rapid success and its implications for DeFi. They also explore how biometrics can secure crypto wallets and the looming threat of bank fraud in the AI era. Insights on the evolving landscape of trading firms and the parallels between friends.tech and BitClout add depth to this engaging discussion.

Anita Posch, a Bitcoin educator and founder of Bitcoin for Fairness, shares her mission to promote Bitcoin adoption in Africa. She discusses the essential role of Bitcoin in countries like Zimbabwe, highlighting its power to empower the marginalized. Anita reveals the scams faced by users in developing nations and the challenges posed by strict regulations. She emphasizes Bitcoin's importance for human rights, particularly for women, while critiquing Worldcoin's centralized nature. Her new educational program aims to foster financial literacy and independence.