Unchained

Illia Polosukhin, co-founder of NEAR Protocol and former Google AI researcher, explores the fusion of AI and cryptocurrency. He discusses the recent banking crisis and its implications for crypto, weighing risks against traditional banking. Illia shares insights on how AI's evolution is revolutionizing the crypto landscape and emphasizes that "open source always wins." They even imagine a broken Tesla as the future of independent investing, showcasing the intersection of advanced tech and finance.

Caitlin Long, the founder and CEO of Custodia Bank, and Meltem Demirors, Chief Strategy Officer at CoinShares, delve into the alarming state of crypto in the U.S. They discuss the perceived attacks on crypto-friendly banks like Signature and the chilling implications of Operation Choke Point 2.0. Caitlin highlights how recent regulatory actions resemble historical precedents, while Meltem emphasizes the unique position of stablecoins. Together, they dissect the future of banking and crypto amidst looming regulatory challenges and evolving market dynamics.

In this engaging discussion, Jim Bianco, president and macro strategist at Bianco Research, sheds light on the recent bank failures that he terms a liquidity crisis rather than a solvency one. He critiques the traditional fractional reserve banking system, deeming it flawed and outdated. Bianco highlights how decentralized finance offers viable alternatives and questions the motivations behind the sudden shutdown of Signature Bank. The conversation also touches on the Federal Reserve's precarious position and the implications of rapid money movement in today's economy.

The discussion dives into the sudden collapse of Silicon Valley Bank and its chaos in the cryptocurrency sector. They explore how USDC lost its peg and MakerDAO's emergency measures. Host experiences reveal the market's panic. The conversation also examines Signature Bank's shutdown and its ties to crypto. Additionally, they humorously address the rise of meme coins and critique banking transparency. Insights into Bitcoin's performance against traditional stocks and the potential of DeFi innovation round out the highlights.

Christine Kim, Vice President of Research at Galaxy Digital, shares her expertise on Ethereum's evolution. She discusses the Shanghai upgrade, highlighting how it will enable staked ETH withdrawals and the potential influx of institutional stakers. Christine explores the implications for ETH's price, suggesting minimal impact, and explains upcoming enhancements like Cancun and proto-danksharding for improved scalability. Her insights on Ethereum's decentralized development and concerns around staking centralization add depth to the discussion.

In this discussion, Arthur Hayes, cofounder of BitMEX and known for his bold views on the crypto landscape, shares his thoughts on the collapse of major players like FTX and Silvergate. He emphasizes the need for crypto to move away from traditional banking, highlighting the risks of stablecoins and the impact of rising interest rates. Arthur also unveils his new investment venture, Maelstrom, focused on innovative projects, while playfully revealing his quirky affinity for stuffed animals. His unapologetic take on the crypto scene is both entertaining and eye-opening.

Elliott Stein is a Senior Litigation Analyst at Bloomberg Intelligence, specializing in the legal intricacies of the crypto sector. He discusses a recent court hearing on the SEC's rejection of Grayscale's bid for a bitcoin ETF. Stein notes the judges' skepticism towards the SEC's rationale for treating bitcoin futures differently from spot ETFs. He also shares insights on other critical cases like Ripple and delves into the potential impact of Grayscale's lawsuit on the broader crypto landscape, including implications for future ETF applications.

In a lively discussion, Bryan Pellegrino, CEO of LayerZero Labs, Greg Markou of Chainsafe, and Ethereum software engineer Matt Garnett dive into the heated debate over whether testnet ETH should be free or priced. Bryan argues that a truly permissionless testnet can't have free tokens, while Greg expresses concern about accessibility for developers. They also analyze the impact of introducing a price on Goerli ETH, the upcoming Sepolia testnet, and innovative solutions for equitable distribution, revealing the complexities and future challenges in the Ethereum ecosystem.

Kyle Samani, managing partner at Multicoin Capital, shares his sharp insights on Coinbase's new layer 2 solution, Base, and its unique positioning without a dedicated token. He discusses how Coinbase plans to monetize it while navigating regulatory hurdles. Samani reflects on the fallout from the FTX scandal and the new lessons in due diligence for investors. Plus, he dives into Solana's recent outage, highlighting its differences from past incidents, and shares excitement about the vibrant projects emerging from the ecosystem.

Muneeb Ali, co-creator of Stacks, dives into the soaring popularity of Bitcoin ordinals, shedding light on how they occupy block space and impact fees. He explores the unique aspects of NFTs on Bitcoin compared to Ethereum, thanks to the innovative Taproot upgrade. Ali also discusses the Bitcoin community's mixed reactions and the subsequent surge in Stacks' value. Plus, he shares insights on the significance of Yuga Labs launching NFTs on Bitcoin, highlighting a shift in Bitcoin culture towards innovation and commerce.