Unchained

Rune Christensen, co-founder of MakerDAO, and Hasu, a decentralized finance expert, dive deep into governance challenges within MakerDAO. They discuss their differing visions for MakerDAO and the crucial role of collateral, including the impact of real-world assets. Hasu introduces his mental model of DAI as eurodollars, while Rune argues against a single council to mitigate political risks. They also explore concepts like 'clean money' and the philosophical motivations behind crypto, questioning if DAOs can truly align with members' best interests.

Layne Haber, Co-founder of Connext Network and a DeFi security expert, dives into the recent Nomad bridge hack and its implications. He unpacks the hack's unique aspects, its ties to the historic DAO exploit, and discusses the reactive measures by law enforcement. Haber elaborates on the role of bounty programs in recovery efforts and the challenges faced by authorities in tracking decentralized crime. He emphasizes the need for improved cross-chain security and predicts ongoing developments in addressing these vulnerabilities.

Kevin Zhou, co-founder of Galois Capital, dives into the intriguing world of Ethereum's future and potential forks. He discusses the possibility of a Proof of Work chain and why he anticipated the LUNA death spiral before others did. Kevin outlines his trading strategies during the Terra collapse and sheds light on the risks surrounding the Merge. He also emphasizes the importance of replay protection and draws parallels between Ethereum's history and his personal insights on trading. A must-listen for crypto enthusiasts!

Lyn Alden, founder of Lyn Alden Investment Strategy, shares her deep insights on economics, while Mauricio di Bartolomeo, co-founder of Ledn, brings his firsthand experience with Venezuela's hyperinflation. The two delve into how inflation impacts the crypto landscape, touching on Bitcoin as a potential hedge and its contrasting role in inflationary versus hyperinflationary settings. They explore the link between rising interest rates and crypto adoption, implications of global events like the Ukraine war, and the growing significance of stablecoins and the Lightning Network in volatile economies.

Balaji Srinivasan, author of "The Network State," shares insights on how crypto empowers emerging digital communities aimed at gaining recognition. He discusses the concept of network states and why they may surpass traditional nations. Balaji also explores the tension between Bitcoin maximalism and various political ideologies, predicting that a community of keto dieters could pioneer this movement. Additionally, he reflects on the evolution of the crypto industry and suggests that learning and adaptation are crucial for its future.

Marisa Tashman, policy counsel at the Blockchain Association, dives into the SEC's controversial moves on token classifications and their potential harm to US investors. She discusses the implications of labeling tokens as securities without clear guidelines, highlighting the SEC's approach as 'regulation by enforcement.' Marisa also shares insights on Coinbase's position amidst ongoing investigations and the pressing need for regulatory clarity in the evolving crypto landscape. Additionally, she talks about the promising legislative efforts led by politicians like Cynthia Lummis.

WassieLawyer, an expert in restructuring and insolvency, joins Adam Levitin, a Georgetown Law professor, to dissect the tumultuous bankruptcies of 3AC, Celsius, and Voyager. They delve into the complexities of custodial funds, revealing the risks of commingled deposits. Discussions unveil Celsius's potential shady practices versus Voyager's irresponsibility. They explore the daunting Chapter 11 process, the intricacies of creditor rights, and whether key executives might face jail time, all while navigating the chaotic crypto landscape.

Adam Cochran, a partner at Cinneamhain Ventures, shares his expertise on the crypto industry's current landscape, especially in light of 3AC's liquidation. He delves into why 3AC founders are labeling themselves as creditors and the complexities of the corporate veil. Cochran speculates on the impact of 3AC’s downfall on retail investors and potential crypto credit crunches. He also discusses the implications of liquidating high-value assets, like a yacht, and what creditors might prefer in this tumultuous environment.

Nelson Rauda, a Salvadoran journalist with El Faro, dives into the complexities of Bitcoin adoption in El Salvador. He discusses President Nayib Bukele's controversial shift to Bitcoin as legal tender, highlighting its impact on the unbanked population and the skepticism surrounding the initiative. Rauda argues that the Bitcoin law may be more of a PR stunt than a true economic solution, questioning the government's intent and public understanding. He also critiques the Chivo wallet's limited success and the ongoing protests tied to this monetary revolution.

Wasi Lawyer, a skilled restructuring and insolvency attorney, shares his insights into the bankruptcies of Three Arrows Capital, Celsius, and Voyager. He explains the intricacies of the liquidation process and the duties of liquidators. The discussion covers creditor priorities and uncertainties about the whereabouts of 3AC founders. Additionally, he contrasts Chapter 11 and Chapter 15 bankruptcy, detailing the impact on Celsius's account holders and the broader implications for the crypto market amidst economic challenges.