Unchained

Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and special guest David Hoffman break down the biggest stories in crypto. This week: MicroStrategy clones are popping up, with Bitcoin-backed SPACs trying to replay Saylor’s playbook. Meanwhile, Trump launches a memecoin for dinner invites, Zora kicks off a new era of “content coins,” and Ethereum faces an existential pivot. David Hoffman joins the crew to debate whether crypto’s future is real innovation—or just financial theater. Show highlights 🔹 Bitcoin vs Ethereum: Who Wins the Future? – Breaking down why Bitcoin could outgrow Ethereum… or why Ethereum might still be crypto’s last hope. 🔹 Can Content Coins Save Crypto? – Zora’s pivot and the rise of “content coins” spark a full-blown identity crisis for the industry. 🔹 Are We Just Rebranding Memecoins? – The crew debates whether “content coins” are innovation… or just the same casino with better UX. 🔹 The Culture Clash – Why crypto’s new apps feel like they’re built for millennials — and why Gen Z might just not care. 🔹 SoftBank, SPACs, and the Top Signal – 21Capital’s Bitcoin MicroStrategy clone is here. Are we seeing the beginning of the end… again? 🔹 Vitalik’s Existential Pivot – Ethereum is trying to save itself. But can it change fast enough to stay relevant? 🔹 Bitcoin’s Macro Moment – In a world of tariffs, inflation, and chaos, Bitcoin might accidentally become the next Federal Reserve. 🔹 Crypto’s Morality Crisis – Vitalik’s attack on “bad apps” raises a deeper question: what should crypto even be building anymore? ⭐️Haseeb Qureshi, Managing Partner at Dragonfly ⭐️Tarun Chitra, Managing Partner at Robot Ventures⭐️Tom Schmidt, General Partner at Dragonfly  Guest ⭐️ David Hoffman, Co-owner at Bankless   HostsDisclosures Timestamps 00:00 Intro 01:55 MicroStrategy Clones and Market Impact 13:40 Trump Coin and Its Controversies 20:35 Zora’s Content Coin vs. Jesse's Coining Controversy 26:56 Zora’s Market Position 32:29 Generational Divide in Crypto 39:32 Ethereum's Strategic Pivot Learn more about your ad choices. Visit megaphone.fm/adchoices

Matthew Sigel, Head of Digital Assets Research at VanEck, examines the ambitious Bitcoin acquisition strategy of Twenty One, backed by Tether and SoftBank. He discusses the implications of their plan to start with 42,000 BTC and the risks if their stock dips below NAV. Sigel also proposes innovative 'BIT Bonds' linked to Bitcoin for U.S. Treasury, sparking intrigue. Furthermore, regulatory reporter Veronica Irwin reveals potential upcoming legislation that could reshape the crypto market structure, making for a compelling conversation.

Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest in crypto. In this episode, the crew is joined by special guest Joe Weisenthal, co-host of Bloomberg’s Odd Lots podcast, for a wide-ranging, unfiltered conversation. They dive into whether Bitcoin is becoming digital gold, why Ethereum’s value might be leaking away, and how stablecoins are quietly reshaping global finance. Joe challenges the panel on NFTs, DePIN, and whether any of crypto’s big promises have actually delivered. Plus, they debate the rise of MicroStrategy copycats, the failure of crypto social apps, and why Worldcoin’s orb-pilled vision might actually make sense.Show highlights🔹 Bitcoin = Safe Haven? – Why BTC is acting like gold in a crisis while ETH and altcoins are tanking🔹 Ethereum’s Value Leak – Joe questions why ETH hasn’t captured any upside from stablecoins or NFTs🔹 The MicroStrategy Clone Wars – Solana copycats are trying the Saylor playbook… but will it work?🔹 Worldcoin’s Creepy Appeal – Joe is orb-pilled: privacy is dead, but proof-of-personhood might just work🔹 The Freeport Theory of Bitcoin – Could BTC be the decentralized answer to offshore gold storage?🔹 Are Stablecoins the Eurodollars of Crypto? – Haseeb lays out how stables quietly rewrote the financial system🔹 Ethereum’s L2 Gamble – The panel debates if Ethereum’s scaling strategy caused value to bleed out🔹 The DePIN Dilemma – Is decentralized infrastructure a dead-end or just early? Joe wants receipts🔹 Crypto Social Media? – Joe’s skeptical: why decentralized comms hasn’t clicked yet🔹 Utopia or Bust? – If crypto’s gonna be this expensive, Joe says it better deliver a better worldHosts⭐️Haseeb Qureshi, Managing Partner at Dragonfly ⭐️Robert Leshner, CEO & Co-founder of Superstate⭐️Tarun Chitra, Managing Partner at Robot Ventures⭐️Tom Schmidt, General Partner at Dragonfly Guest⭐️ Joe Weisenthal, Editor at BloombergDisclosuresTimestamps00:00 Intro01:57 Bitcoin's Market Behavior06:53 Bitcoin as a Safe Haven15:56 Economic Value in Crypto19:51 Stablecoins, NFTs, and Worldcoin36:00 Blockchain's Value in Social Networks41:20 Reality of Crypto Utopias49:19 The Future of Stablecoins and Regulation54:54 MicroStrategy and Bitcoin Investments Learn more about your ad choices. Visit megaphone.fm/adchoices

Zach Pandl, Head of Research at Grayscale Investments, dives into the potential fallout of Donald Trump's threats to fire Fed Chair Jerome Powell. He discusses the critical importance of Fed independence and how these political maneuvers could undermine the U.S. dollar's credibility. The conversation explores a worrying shift in investment strategies, moving away from dollar assets towards Bitcoin and commodities. Plus, hear insights on how young crypto investors might respond to their first bear market, and parallels drawn between today’s economy and Argentina's.

Yat Siu, Chairman of Animoca Brands, and Emily Parker, a key advisor at the Global Blockchain Business Council, delve into Asia's unique crypto perspective. They discuss China's 'banned' crypto narrative and clarify the calm sentiment around U.S. tariffs. The duo highlights how Hong Kong is emerging as a crucial jurisdiction, while Japan and Korea are shaping future regulations. They also explore the booming crypto gaming sector and what lessons the West can learn from Asia's crypto landscape.

Jesse Pollak, Head of Base at Coinbase, unpacks the whirlwind surrounding the ‘Coined It’ memecoin, discussing its explosive rise and fall and its implications for creator monetization. Meanwhile, Guy Young and Carlos Domingo introduce Converge, a groundbreaking chain aimed at merging traditional and decentralized finance. They share insights on its innovative tech stack and security measures, addressing how it will reshape the on-chain landscape for institutions while also ensuring better user experience. A vibrant discussion on the future of tokenized assets rounds out this exciting conversation.

The discussion kicks off with the shocking 90% collapse of the OM token, revealing deeper issues in market manipulation and fake valuations. Binance's questionable listings face scrutiny as experts debate the ethics of market-making practices. Trump’s tariffs spark wild theories on how they might favor Bitcoin amidst economic chaos. Vitalik Buterin stirs the moral pot by critiquing 'bad apps' in crypto, igniting a passionate debate about ethical development. The panel dives into the complexities of crypto valuation and the need for transparency as they navigate this tumultuous landscape.

Markets are on edge as tariff tensions rise and liquidity wanes. The discussion highlights Trump’s tariff strategy and its potential impact on market confidence. There's speculation around a 'Trump put' and whether cryptocurrency can thrive amid global chaos. They delve into the turmoil around the yuan's devaluation and the psychological factors that could reignite investor enthusiasm. A look at hedge fund behaviors and the evolving role of ETFs adds depth to the conversation on navigating financial uncertainties.

Matt Hougan, CIO of Bitwise, and Matthew Sheffield, Senior Trader at FalconX, dive into the crossroads of the crypto market. They discuss the potential for Bitcoin to soar to $200K, driven by institutional interest and supply dynamics. The conversation highlights the shift from speculative trading to fundamental analysis, exploring the impact of geopolitical factors and treasury volatility on crypto perceptions. They also tackle the resilience of decentralized finance and how the current market stresses might yield new investment opportunities.

Seth Ginns, Managing Partner at CoinFund, provides keen insights on the current crypto landscape amid fluctuating tariffs and macroeconomic shifts. He explains how recent tariff announcements hit crypto markets harder than expected. Despite volatility, he remains cautiously bullish, discussing indicators for potential bullish trends. The conversation also touches on the looming possibility of an altcoin season and the evolving narrative of Bitcoin as a safe haven, all while navigating the influence of U.S. political policies on the crypto realm.