Unchained

Why the AI Business Model Is Cracking and How Crypto Could Help Fix It Jun 12, 2026 1943 OpenAI, Anthropic, SpaceXand the AI IPO cycle face a structural problem: a cheap, capable open source exit is already drawing enterprise users away before either company goes public. ======================================================== Thank you to our sponsor! ⁠Fidelity⁠: Fidelity has been building in crypto and DeFi since 2014 — now they're hiring. Explore career opportunities at one

Claude Found a 4-Year Zcash Bug. Now It Won't Audit DeFi: Uneasy Money Jun 12, 2026 3819 Claude Fable 5 refuses security work, Kain Warwick pulls $5,000 of compute from a $200 plan, and Humanity Protocol loses its bridge, token, and treasury to one infected device. ======================================================== Thank you to our sponsors! ⁠Multichain Advisors⁠: Get help navigating TGEs, go‑to‑market, BD and partnerships, capital markets advisory, PR, media placements, KO

The Chopping Block: Zcash Infinite Mint Bug + AI Hackers vs Formal Verification + NEAR's Agent Vision Jun 10, 2026 3390 Mert and Illia autopsy a brutal weekend in crypto: Saylor's $3M test sale that taught him there's no sell button, the Zcash bug Claude found that could've minted unlimited counterfeit ZEC, formal verification as the bulwark against AI attackers, and whether NEAR's agentic commerce vision is real. Welcome to The Chopping Block — where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and

How Claude Found Zcash's Counterfeiting Bug Jun 10, 2026 944 For three years, a counterfeiting bug sat live inside Zcash's shielded pool, and no one noticed. Then Taylor Hornby pointed a custom Claude Opus 4.8 agent at the code, and it surfaced the flaw in Orchard that had gone undetected since 2022. Austin Campbell, Ram Ahluwalia, and Chris Perkins debate what that means for privacy protocols, the rotation away from dead-protocol alts, and why Bitcoin's s

Why Saylor's 'Inoculate' Comment May Be a Signal He'll Sell More Bitcoin Jun 9, 2026 4037 About 80% of STRC holders are retail investors. Glenn Cameron walks through the prospectus, how Saylor's public claims differ from the reality, and why Strategy has no good options. ======================================================== Thank you to our sponsor! Fidelity: Fidelity has been building in crypto and DeFi since 2014 — now they're hiring. Explore career opportunities at one of

Why Mike Dudas Has Zero Exposure to ETH, but Is Bullish on Hyperliquid Jun 4, 2026 2165 Mike Dudas holds zero ETH and sees Hyperliquid as crypto's Tether moment. He also has a clear framework for what makes a token worth buying. ======================================================== Thank you to our sponsor! Fidelity: Explore crypto careers and make the decision that could change your future at https://crypto.fidelitycareers.com ===============================================

What Two DOJ Cases Reveal About the Legal Risks of Prediction Markets: Bits + Bips Jun 4, 2026 2770 Steve Sosnick on the ratchet effect in equities, the AI bandwidth parallel, Kevin Warsh’s impossible first week, and why crypto is the unsexy trade right now. --- Thank you to our sponsor! Coinbase: Get 20% off the first year of your Coinbase One annual plan at coinbase.com/unchained. Heads up! If you haven’t yet, be sure to subscribe to Bits + Bips, since the show will migrate there in a f

The Chopping Block: Ethereum's Inflection Point w/ Joe Lubin on DATs, CROPS, AI-Driven Exploits, Quantum Threats, and CFTC's Perps Jun 4, 2026 3744 Joe Lubin makes the bull case for Ethereum amid a sea of bearishness. The panel dissects Saylor selling Bitcoin for the first time in four years, the meaning behind 9 senior EF departures, Justin Drake's Q-Day call (50% by 2032), Manuel Araoz declaring all of DeFi unsafe, the ThorChain hack fallout, the Zama/Overnight Finance USDC freeze saga, and the CFTC greenlighting the first US perpetual futu

Is Polymarket's Oracle Problem Getting Out of Hand? - Uneasy Money Jun 3, 2026 4300 Circle froze $12M in a DeFi pool on a Friday court order, trapping users who had nothing to do with the dispute. . Polymarket couldn't resolve a Strategy market. And MegaETH's apps are defecting. Nothing is simple. ======================================================== Thank you to our sponsors! Multichain Advisors: Get help navigating TGEs, go‑to‑market, BD and partnerships, capital market

CFTC Approves True Perps and Agentic Finance Gets Real: DEX in the City Jun 2, 2026 3014 The CFTC reclassified perps as futures. Katherine and Jessi parse what the ruling actually permits and what it means for Hyperliquid. Plus: if your AI agent gets scammed, who pays? Thanks to our sponsor! Explore crypto careers that could change your future at https://crypto.fidelitycareers.com The CFTC approved a perpetual Bitcoin futures contract for KalshiEX, and crypto Twitter immedia

Why MSTR Should Have Sold $2 Billion Instead of $2 Million of Bitcoin Jun 2, 2026 2101 Jeff Dorman on why Strategy's four stakeholder classes are all losing, and why Saylor should have sold $2B of Bitcoin at once instead of $2.5M. ======================================================== Thank you to our sponsor! Fidelity: Explore opportunities at https://crypto.fidelitycareers.com ======================================================== Strategy’s late-May Bitcoin sale has tu

Bits + Bips: How the Dimon vs. Armstrong Clash Reveals Crypto at Peak Political Power Jun 1, 2026 3627 Strategy sold BTC. Can its preferred dividend stack survive without Bitcoin growing at least 11.5% year? Plus, they cover Jamie Dimon calling Brian Armstrong “full of shit.” --- Heads up! If you haven’t yet, be sure to subscribe to Bits + Bips, since the show will migrate there in a few weeks. Follow us on ⁠⁠⁠⁠⁠⁠⁠⁠Apple Podcasts⁠⁠⁠⁠⁠⁠⁠⁠, ⁠⁠⁠⁠⁠⁠⁠⁠YouTube⁠⁠⁠⁠⁠⁠⁠⁠, ⁠⁠⁠⁠⁠⁠⁠⁠Spotify⁠⁠⁠⁠⁠⁠⁠⁠, ⁠⁠⁠⁠⁠

Is 'All of DeFi Unsafe'? What You Need to Know About Holding Assets Onchain May 28, 2026 2988 A co-founder of OpenZeppelin said he’s urging friends to exit blue chip DeFi. Isaac Patka and Mike Silagadze explain what he got right, what he got wrong, and what needs to change. ======================================================== Thank you to our sponsor! ⁠⁠⁠⁠⁠Coinbase One⁠⁠⁠⁠⁠: Get 20% off the first year of your Coinbase One annual plan at ⁠⁠⁠⁠⁠coinbase.com/unchained⁠⁠⁠⁠⁠. =========

Bitcoin Stalls, Stocks Soar: The Disconnect That Defines This Cycle May 28, 2026 2999 Steve Sosnick on the ratchet effect in equities, the AI bandwidth parallel, Kevin Warsh’s impossible first week, and why crypto is the unsexy trade right now. --- Thank you to our sponsor! Coinbase: Get 20% off the first year of your Coinbase One annual plan at coinbase.com/unchained. Heads up! If you haven’t yet, be sure to subscribe to Bits + Bips, since the show will migrate there in a f

The Chopping Block: Ethereum's Identity Crisis, Apostates Speak Out, and Is ETH the Microsoft of Crypto? May 28, 2026 3912 Ethereum's midlife crisis hits the podcast as ex-Bankless and ConsenSys insiders unpack ETH's talent exodus, identity spiral, "Microsoft" future, EF shake-ups, and the Solana contender play-all with spicy takes on airdrops, real dev stats, and blockchain adoption drama. Welcome to The Chopping Block — where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up a

Uneasy Money: Illia Polosukhin on Why Onchain Commerce Needs Confidentiality May 27, 2026 4955 Illia Polosukhin, founder of NEAR and co-author of 'Attention Is All You Need,' on why confidentiality will let crypto become daily commerce — plus, some Near lore. ======================================================== Thank you to our sponsors! ⁠⁠Multichain Advisors⁠⁠: Get help navigating TGEs, go‑to‑market, BD and partnerships, capital markets advisory, PR, media placements, KOL activati

Why Fintechs May Finally Beat Banks at Their Own Game: DEX in the City May 26, 2026 3110 Banks are about to lose two of their biggest advantages: custody and payments. A new White House EO opening Fed master accounts to fintechs could be the catalyst. Thanks to our sponsor! Coinbase One Get 20% off the first year of your Coinbase One annual plan ⁠⁠coinbase.com/unchained⁠⁠ A White House executive order is pushing the Fed to open its master account system to fintechs and c

Is the Ethereum Foundation Too Out of Touch to Save ETH? May 26, 2026 4240 Vitalik finally said ETH the asset matters. Zak Cole’s reaction: ‘Should have said that five years ago.’ What broken cryptoeconomics mean for Ethereum’s future. ======================================================== Thank you to our sponsor! ⁠⁠⁠⁠⁠Coinbase One⁠⁠⁠⁠⁠: Get 20% off the first year of your Coinbase One annual plan at ⁠⁠⁠⁠⁠coinbase.com/unchained⁠⁠⁠⁠⁠. =============================

Why the SEC Paused on Its Innovation Exemption for Tokenization: Bits + Bips May 25, 2026 3684 Citadel and SIFMA lobbied to slow tokenized equity rules. Arjun Sethi calls it 'corporate plumbing.' Chris Perkins calls it a bond future moment. --- Thank you to our sponsor! ⁠⁠Coinbase One⁠⁠: Get 20% off the first year of your Coinbase One annual plan at ⁠⁠coinbase.com/unchained⁠⁠. Heads up! If you haven’t yet, be sure to subscribe to Bits + Bips, since the show will migrate there in a fe

The Bond Market Is the Boss Now: Bits + Bips May 21, 2026 2599 Kevin Warsh wants a smaller Fed balance sheet and fewer dot plots. Noelle Acheson says the bond market won't let him have either. Here's what she expects instead. --- Heads up! If you haven’t yet, be sure to subscribe to Bits + Bips, since the show will migrate there in a few weeks. Follow us on ⁠⁠⁠⁠⁠⁠Apple Podcasts⁠⁠⁠⁠⁠⁠, ⁠⁠⁠⁠⁠⁠YouTube⁠⁠⁠⁠⁠⁠, ⁠⁠⁠⁠⁠⁠Spotify⁠⁠⁠⁠⁠⁠, ⁠⁠⁠⁠⁠⁠X⁠⁠⁠⁠⁠⁠, ⁠⁠⁠⁠⁠⁠Unchained

Why Pre-IPO Perps Like SpaceX on Hyperliquid Are Seeing an Upswing May 21, 2026 2014 Pre-IPO trading is hot ahead of three big IPOs. Perp volume on Hyperliquid went from $3M to $44M in three months, and SpaceX perps is just the beginning, says Dio Casares of Patagon. ======================================================== Thank you to our sponsor! ⁠⁠⁠⁠Coinbase One⁠⁠⁠⁠: Get 20% off the first year of your Coinbase One annual plan at ⁠⁠⁠⁠coinbase.com/unchained⁠⁠⁠⁠. ===========

The Chopping Block: The CLARITY Act, Hyperliquid vs CME, and the Prediction Market Supreme Court Showdown May 21, 2026 4444 Rebecca from Jito Labs joins Haseeb, Tom, and Tarun for a regulation deep-dive covering the CLARITY Act's stablecoin yield compromise and presidential ethics sticking points, CME and ICE's lobbying war against Hyperliquid's RWA perps, the prediction market legal battle heading to the Supreme Court, and whether the SEC's tokenized securities innovation exemption will actually matter. Welcome to

Ethereum Foundation Staff Are Leaving. What Does It Mean for ETH? - Uneasy Money May 20, 2026 4320 Top Ethereum Foundation staff are leaving. Why? Also, Trade.xyz launched a synthetic pre-IPO SpaceX perp on Hyperliquid that further shows RWAs moving onchain. ======================================================== Thank you to our sponsor! ⁠Multichain Advisors⁠: Get help navigating TGEs, go‑to‑market, BD and partnerships, capital markets advisory, PR, media placements, KOL activations and

Why the Consensus After-Party Set Crypto Back: DEX in the City May 19, 2026 3471 KK, Jessi, and Vy Le call out the silence from CoinDesk and industry organizations after the Consensus after-party was held at E11even. Plus: Clarity’s odds. Thanks to our sponsor! Coinbase One Get 20% off the first year of your Coinbase One annual plan ⁠coinbase.com/unchained⁠ The CLARITY Act cleared the Senate Banking Committee 15-9, but Katherine, Jessi, and Vy Le are not popping c

In an AI Agent World, Do Money Markets Win Over Stablecoins? - Bits + Bips May 18, 2026 3507 USDC became Hyperliquid's stablecoin infrastructure, and the 30-year broke 5% for the first time since 2008. Austin, Ram, Chris, and Gordon Liao of Circle work through who wins. --- Thank you to our sponsor! ⁠Coinbase One⁠: Get 20% off the first year of your Coinbase One annual plan at ⁠coinbase.com/unchained⁠. Heads up! If you haven’t yet, be sure to subscribe to Bits + Bips, since the sho

Can Hyperliquid Come Onshore Without Killing What Makes It Special? May 18, 2026 2859 CME and ICE want regulators to rein in Hyperliquid, which delivers 24/7 derivatives markets that incumbents can't match. Can it be brought onshore? ======================================================== Thank you to our sponsor! ⁠⁠⁠Coinbase One⁠⁠⁠: Get 20% off the first year of your Coinbase One annual plan at ⁠⁠⁠coinbase.com/unchained⁠⁠⁠. ==================================================

How Hyperliquid Benefits From Its New Deal With Coinbase Over USDC May 14, 2026 2181 Coinbase just became the official USDC treasury deployer on Hyperliquid. Alex Weseley of Artemis explains how this boosts Hyperliquid’s annual revenue by 25%. ======================================================== Thank you to our sponsor! ⁠⁠Coinbase One⁠⁠: Get 20% off the first year of your Coinbase One annual plan at ⁠⁠coinbase.com/unchained⁠⁠. ===========================================

Bits + Bips: The Interview — The $16 Trillion Repo Market Is TradFi’s Central Nervous System. Its Finally Coming Onchain May 14, 2026 2725 The repo market is $16 trillion globally and most people have never heard of it — until the plumbing breaks. Craig Burchell of FalconX and Matteo Pandolfi of Pareto explain how it works and why bringing it on-chain is the next big unlock for DeFi. --- Heads up! If you haven’t yet, be sure to subscribe to Bits + Bips, since the show will migrate there in a few weeks. Follow us on ⁠⁠⁠⁠⁠Apple Podc

Uneasy Money: Why the Broken Pre-IPO Secondary Markets Won't Be Fixed Anytime Soon May 13, 2026 4571 Anthropic is voiding secondary market trades. Who gets hurt — WhatsApp scammers, Forge buyers, or the founders? Plus: why continuous synthetic pricing is coming for every pre-IPO company. Thank you to our sponsors!⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Multichain Advisors: Get help navigating TGEs, go‑to‑market, BD and partnerships, capital markets advisory, PR, media placements, KOL activations and more at mult

Why Arthur Hayes Thinks the AI Bubble Bursting Could Spark a Crypto Bull Market May 12, 2026 3473 Arthur Hayes sees one force driving markets right now: governments printing money to finance AI and war. He explains why that ends with Bitcoin much higher — and what could derail it. ======================================================== Thank you to our sponsor! ⁠Coinbase One⁠: Get 20% off the first year of your Coinbase One annual plan at ⁠coinbase.com/unchained⁠. ======================

DEX in the City: Will the CLARITY Act Pass? Three Crypto Lawyers Give Their Odds May 12, 2026 2962 As a new CLARITY Act draft dropped, KK, Vy, and guest Josh Riezman of GSR give their passage odds and explain the one developer protection provision that matters most. Thanks to our sponsor! Coinbase One Get 20% off the first year of your Coinbase One annual plan ⁠coinbase.com/unchained⁠ A new draft of the CLARITY Act just landed — all 300-plus pages of it — and Katherine Kirkpatrick B

Bits + Bips: Why the AI Rally Keeps Growing — and Why Circle Launched Arc May 11, 2026 3182 Ram says the entire market is now one giant AI trade. Chris argues the boom is backed by real fundamentals. Austin asks: is AI creating value for the right companies? --- Thank you to our sponsor! Coinbase One: Get 20% off the first year of your Coinbase One annual plan at coinbase.com/unchained. Heads up! If you haven’t yet, be sure to subscribe to Bits + Bips, since the show will migrate

Coinbase's Chief Policy Officer on Why He Believes the Clarity Act Will Pass May 8, 2026 2058 Coinbase's chief policy officer explains why the bank lobby failed to kill stablecoin rewards — and what 'workable compromise' actually means for crypto users. ======================================================== Thank you to our sponsors! Adaptive Security: Test and strengthen your company’s defenses against AI deepfakes and synthetic identities at adaptivesecurity.com. Coinbase One:

A16z Crypto Raised $2.2 Billion for Fund 5. Here's How They Plan to Deploy It May 7, 2026 3308 From AI agents as economic actors to quantum threats and prediction market regulation, Ali Yahya of a16z lays out the investment thesis behind a16z crypto's fifth fund. ======================================================== Thank you to our sponsor! Coinbase One 20% off first year of annual plan + $50 Bitcoin bonus. Offer valid until May 31. coinbase.com/unchained =======================

Why Wrapped Energy or Compute Will Be the New Store of Value: Bits + Bips May 7, 2026 3600 Missiles in the Strait of Hormuz. Brent jumps 5%. Bitcoin breaks through $80. The Bits + Bips crew reads the geopolitical tape — and explains why crypto is shrugging it off. --- Thank you to our sponsor! Coinbase One — coinbase.com/unchained Heads up! If you haven’t yet, be sure to subscribe to Bits + Bips, since the show will migrate there in a few weeks. Follow us on ⁠⁠⁠⁠Apple Podcasts⁠⁠⁠

DEX in the City: With the Stablecoin Yield Compromise, Can the Clarity Act Get Passed? May 7, 2026 2392 Seven lawsuits blame OpenAI for enabling a mass shooting. Could the same legal theory come for DeFi? Thanks to our sponsor! Coinbase One Get 20% off the first year of your Coinbase One annual plan coinbase.com/unchained Seven families just sued OpenAI in federal court, arguing ChatGPT was a defective product that helped plan a mass shooting. OpenAI's own safety team flagged the risk eigh

Uneasy Money: Who Owns Stolen Crypto? The $71M Fight Testing DeFi Limits May 6, 2026 4449 A legal battle over frozen KelpDAO hack funds is forcing DeFi to answer questions it has long avoided. Thank you to our sponsors!⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Coinbase One: Get 20% off the first year of your Coinbase One annual plan at coinbase.com/unchained. Multichain Advisors: Get help navigating TGEs, go‑to‑market, BD and partnerships, capital markets advisory, PR, media placements, KOL activations a

Ben Fielding: Gensyn, Decentralized AI, and the Prediction Market That Settles Itself: Bits + Bips May 3, 2026 3045 A prediction market trades on outcomes. An information market trades on knowledge. Fielding makes the case for the latter. --- Heads up! If you haven’t yet, be sure to subscribe to Bits + Bips, since the show will migrate there in a few weeks. Follow us on ⁠⁠⁠⁠Apple Podcasts⁠⁠⁠⁠, ⁠⁠⁠⁠YouTube⁠⁠⁠⁠, ⁠⁠⁠⁠Spotify⁠⁠⁠⁠, ⁠⁠⁠⁠X⁠⁠⁠⁠, ⁠⁠⁠⁠Unchained⁠⁠⁠⁠ and wherever you get your podcasts. ---- What if t

After April's $606 Million in DeFi Hacks, What's the Fair Value Yield Rate? May 3, 2026 4009 $606 million in DeFi exploits in one month. Two of the space's sharpest risk thinkers debate whether lenders are being paid anywhere close to enough. ======================================================== Thank you to our sponsors! Coinbase One 20% off first year of annual plan + $50 Bitcoin bonus. Offer valid until May 31. coinbase.com/unchained Citrea Bitcoin changed how money works.

Pump.fun’s $370M Burn Was a Mistake, Says Luca Netz: Uneasy Money May 1, 2026 4472 Pump.fun set fire to $370 million in tokens. Luca lays out the airdrop math that says they should have done the opposite. Thank you to our sponsors!⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ MultiChain Advisors is an emerging technology growth firm that has helped create $50B+ in enterprise value for 80+ clients over the past 4 years. They're the partner to help navigate markets. Build real traction today at ⁠multichain

The Chopping Block: Defi United’s “Bailout,” MegaETH’s KPI Vesting, and Prediction Market Chaos Apr 30, 2026 3644 Is the era of protocol bailouts upon us? The Chopping Block crew and MegaETH's Shuyao Kong debate Defi United’s community-funded rescue, the KPI vesting experiment shaking up token launches, whether DeFi yields truly underprice risk, and the first major PolyMarket insider trading bust—all delivered with the usual insider banter you won’t hear anywhere else. Welcome to The Chopping Block — where

How Microsoft Won the OpenAI Fight as Markets Rally on Iran Apr 29, 2026 3456 One side wins the OpenAI-Microsoft divorce, Ram calls a 19% earnings growth year 'bananas,' and Chris wants the US to hack back against DeFi exploiters. Here is the full rundown. --- Heads up! If you haven’t yet, be sure to subscribe to Bits + Bips, since the show will migrate there in a few weeks. Follow us on ⁠⁠⁠Apple Podcasts⁠⁠⁠, ⁠⁠⁠YouTube⁠⁠⁠, ⁠⁠⁠Spotify⁠⁠⁠, ⁠⁠⁠X⁠⁠⁠, ⁠⁠⁠Unchained⁠⁠⁠ and whe

How Microsoft Won in Its Revised Deal With OpenAI Apr 29, 2026 201 Microsoft restructured its agreement with OpenAI, and Ram Ahluwalia has a clear verdict: Microsoft won. In this segment from Bits + Bips, Ram explains the three things Microsoft secured from the new deal, walks through the contract-breach context that shifted the negotiating leverage, and argues that Microsoft now holds a free call option on all of OpenAI's future model development, at no additi

How Morpho Survived a $300M DeFi Hack With Only $1M Exposure Apr 29, 2026 2266 People think of Aave and Morpho as competitors. But Morpho only lost $1 million when North Korea drained $300M from a DeFi protocol. The architecture explains why. ======================================================== Thank you to our sponsors! Coinbase One 20% off first year of annual plan + $50 Bitcoin bonus. Offer valid until May 31. coinbase.com/unchained Citrea Bitcoin changed how

Bits + Bips: How the Kelp rsETH Hack Left Aave With $193M in Bad Debt Apr 28, 2026 577 Luke Leasure and Shaunda Devens of Blockworks Research explain how three compounding failures, Kelp's one-of-one bridge signer, Layer Zero's permissive default settings, and Aave's failure to flag it as a collateral risk, set up the conditions for the exploit. Shaunda Devens then breaks down the monolithic pool design that concentrated risk, showing how 98% of rsETH collateral was backing a sing

Arbitrum Froze $70M From North Korea? Griff Green on the Decision + Miguel Morel on the Hack Apr 26, 2026 4074 KelpDAO’s hackers left telltale signs pointing to one culprit, North Korea. Then, in a surprise move, the Arbitrum Security Council decided to fight back. ======================================================== Thank you to our sponsors! As Bitcoin's application layer, Citrea gives you access to the first trust-minimized BTC on a fully programmable platform and a native stablecoin for Bitcoi

Did Arbitrum Violate DRPK's Property Rights? No, Because It Wasn't Their Property Apr 24, 2026 4801 The $300M KelpDAO exploit became a watershed moment for DeFi, and the Arbitrum Security Council voted froze $70M worth of stolen funds. Is this a slippery slope or learning from history? Thank you to our sponsors!⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ MultiChain Advisors is an emerging technology growth firm that has helped create $50B+ in enterprise value for 80+ clients over the past 4 years. They're the partner to h

DEX in the City: KelpDAO vs. LayerZero: Who Is Liable When a DeFi Protocol Is Hacked? Apr 24, 2026 2862 A $300M bridge exploit is forcing the question DeFi has been avoiding: when users lose money, who is actually responsible — the protocol, the infrastructure provider, or both? Thanks to our sponsors! *⁠ As Bitcoin's application layer, Citrea gives you access to the first trust-minimized BTC on a fully programmable platform and a native stablecoin for Bitcoin, ctUSD. You can now participate i

The Chopping Block: Kelp DAO Hack Fallout, DeFi Socialized Losses & Arbitrum’s “Reverse Hack” Apr 23, 2026 3695 The Chopping Block crew and guest Monet Supply break down the $200M Kelp DAO bridge exploit, finger-pointing between LayerZero, Kelp DAO, and Aave, the wild “reverse hack” Arbitrum bailout, and what it all means for DeFi lending protocol risk, L2 trust, and the future of socialized losses in crypto. Welcome to The Chopping Block — where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, a

Is Canton Permissionless? CEO Says Yes, but SuperValidators Need Approval Apr 22, 2026 5161 Digital Asset’s CEO faces pointed questions about Canton’s core claims and admits something surprising about the network’s architecture. ======================================================== As Bitcoin's application layer, Citrea gives you access to the first trust-minimized BTC on a fully programmable platform and a native stablecoin for Bitcoin, ctUSD. You can now participate in Bitcoin c

Strategy's Preferred Stock Is Now a Stablecoin. And DeFi Has a Security Problem. Apr 22, 2026 3627 The $290 million Kelp DAO hack, attributed to North Korea's Lazarus Group, has DeFi TVL down $13 billion in 48 hours. Do DeFi's foundational assumptions need to change? --- Heads up! If you haven’t yet, be sure to subscribe to Bits + Bips, since the show will migrate there in a few weeks. Follow us on Apple Podcasts, YouTube, Spotify, X, Unchained and wherever you get your podcasts. ---- DeF

Bits + Bips: Why Josh Lim Is Optimistic on the Dynamics He's Seeing in Bitcoin Apr 19, 2026 2681 Bitcoin's spot-led rally looks healthy on the surface. But derivatives say conviction is thin. Josh Lim from FalconX on what the market structure is actually telling you right now. --- Thank you to our sponsors! MultiChain Advisors is an emerging technology growth firm that has helped create $50B+ in enterprise value for 80+ clients over the past 4 years. They're the partner to help navigate

The Chopping Block: Quantum FUD, Circle vs. Tether & WLFI Drama Apr 19, 2026 4802 Quantum computing risk, USDC vs. Tether drama after the Drift hack, and World Liberty Financial’s governance circus take center stage as Haseeb, Tom, Tarun, and special guest Joshua Lim dissect market signals, institutional FUD, Trumpcoin shenanigans, and ask: is crypto VC dead or just getting started? Welcome to The Chopping Block — where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra

How the DOJ and SEC Cases Against BitClout's Nader Al-Naji Collapsed Apr 18, 2026 4848 Debanked 12 times. Walked through an airport in handcuffs. Every charge eventually gone. Nader Al-Naji on the defense strategy that convinced both agencies to back off. ======================================================== Nexo is the premier digital wealth platform. Receive interest on your crypto, borrow against it without selling, and trade a range of assets. Now available in the U.S with

Uneasy Money: BIP-361 Wants to Freeze Satoshi's Coins. What Happens If It Passes? Apr 18, 2026 4596 A Bitcoin developer just proposed freezing wallets that don't upgrade for quantum resistance. Including Satoshi's. Thank you to our sponsors!⁠⁠⁠⁠⁠⁠⁠⁠⁠ Nexo Nexo is the premier digital wealth platform. Receive interest on your crypto, borrow against it without selling, and trade a range of assets. Now available in the U.S with 30 days of exclusive privileges. Get started at http://nexo.com

Anthropic's Mythos Is More Powerful Than the U.S. Government's AI. Does That Make Sense? Apr 17, 2026 3123 Can a private company be trusted to decide which 40 firms get access to the world’s most dangerous AI model? And separately — is the SEC’s new Reg Crypto finally the framework the industry has been waiting for since 2020? Thanks to our sponsors! *⁠ As Bitcoin's application layer, Citrea gives you access to the first trust-minimized BTC on a fully programmable platform and a native stablecoin f

Bits + Bips: Why Apple Might Benefit More From AI Than AI Companies Will Apr 14, 2026 3816 The US Naval blockade is live, markets are holding, and Ram thinks the bottom is in. Austin and Chris are not so sure. --- Thank you to our sponsors: Citrea As Bitcoin's application layer, Citrea gives you access to the first trust-minimized BTC on a fully programmable platform and a native stablecoin for Bitcoin, ctUSD. You can now participate in Bitcoin capital markets with lending, priva

How Onchain Options Could Replace the Basis Trade as Crypto's Yield Strategy Apr 14, 2026 3329 The basis trade paid 15–30% near risk-free for years. Options couldn't compete. Then 10/10 happened. ======================================================== As Bitcoin's application layer, Citrea gives you access to the first trust-minimized BTC on a fully programmable platform and a native stablecoin for Bitcoin, ctUSD. You can now participate in Bitcoin capital markets with lending, privacy

Bits + Bips: Bitcoin's Geopolitical Upturn and the $100K Question Apr 14, 2026 2694 Why ETH outperformed Bitcoin this past week, what's really behind the prediction market activity during the Iran situation, and what comes next for institutional crypto adoption. --- Thank you to our sponsors! Ether.fi — 15% cash back on food and rideshare apps, 3% on everything else, borrow at 4% or less Citrea — Trust minimized BTC, native stablecoin CT-USD, Bitcoin capital markets

Why Morgan Stanley Launched the Cheapest Bitcoin ETF on the Market Apr 10, 2026 1887 James Seyffart didn't expect Morgan Stanley to do this. Now he's watching to see if BlackRock blinks. Nexo is the premier digital wealth platform. Receive interest on your crypto, borrow against it without selling, and trade a range of assets. Now available in the U.S with 30 days of exclusive privileges. Get started at http://nexo.com/unchained Ether.fi is giving Unchained listeners 15% c

The Chopping Block: Who's Really Satoshi? Quantum Panic, and AI Eating Code Apr 10, 2026 3638 Bitcoin’s Satoshi drama heats up again as a major journalistic “reveal” drops, just as the crypto industry gets rocked by a quantum computing breakthrough that pulls up security timelines—and AI-powered exploits are suddenly real. We break down Satoshi theories, Blockstream PR whispers, the new quantum risk landscape, Ethereum vs. Bitcoin migration pain, and why your favorite protocols might not b

How Does Crypto Remain Secure in a World of Always On AI Hacks? - Uneasy Money Apr 10, 2026 4221 Anthropic's new model is too dangerous to release publicly. It's already found 20 zero-days. Kain, Taylor, and Austin want to know when it finds the first one in a smart contract. Thank you to our sponsors!⁠⁠⁠⁠⁠⁠⁠ MultiChain Advisors is an emerging technology growth firm that has helped create over $50 billion in enterprise value for more than 80 clients, like Pyth, Moonpay Commerce, and Wor

DEX in the City: How the SEC’s Crypto Task Force Is Rebuilding Trust with Builders Apr 8, 2026 3252 Will SEC guidance stick around if the administration changes? Commissioner Peirce and Sumeera Younis of the Crypto Task Force answer. Thanks to our sponsors! * Citrea — Bitcoin changed how money works. Citrea changes how Bitcoin scales. Trust-minimized BTC on a fully programmable platform with native stablecoin CTUSD. Get started at citrea.xyz/unchained * Ether.fi — 15% cash back on groceries

How 'Booth Babes' at Crypto Conferences Could Lead to Big Hacks Like Drift's Apr 8, 2026 4204 The Drift hack wasn't a one-off exploit. It was a patient operation spanning months, with nation-state actors working the conference circuit. Then Circle let the hackers take the money. Bitcoin’s application layer, Citrea, launched its mainnet, expanding Bitcoin’s utility to privacy, lending, BTC yields, and more. Citrea enables: cBTC: The first trust-minimized Bitcoin on a fully programmabl

Bits + Bips: $285M Hack, Iran's Crypto War Machine & the Token Fundamentals Crisis Apr 7, 2026 3589 A nation state hacked a startup and won. The hosts debate who's liable, what's fixable, and what isn't. --- Thank you to our sponsors: Bitcoin’s application layer, Citrea, launched its mainnet, expanding Bitcoin’s utility to privacy, lending, BTC yields, and more. Citrea enables: cBTC: The first trust-minimized Bitcoin on a fully programmable platform. ctUSD: A native stablecoin for

How Bitcoin Is Both a Risk Asset and a Hedge Against Debasement Apr 6, 2026 2739 Charles Schwab’s chief crypto strategist breaks down why traditional finance valuation frameworks, not narratives, are finally taking hold in digital assets. --- Multichain Advisors is an emerging technology growth firm that has helped create over $50 billion in enterprise value for 80+ clients. Services include TGE support, go-to-market strategy, BD, partnerships, capital markets advisory, PR,

How State-Sponsored Hackers Like DPRK Drain DeFi Protocols: Uneasy Money Apr 6, 2026 4591 The Drift Protocol is down $285 million and Circle has the power to freeze the funds — but won’t. Kain, Taylor, and Luca explain why. Thank you to our sponsors! ⁠⁠⁠⁠⁠⁠⁠Fuse: The Energy Network ⁠⁠⁠⁠⁠⁠ – Shift your energy use and earn rewards. ⁠⁠⁠⁠⁠⁠⁠MultiChain Advisors -⁠⁠⁠⁠⁠⁠⁠ The Growth & Capital Markets Partner You Need The Drift Protocol hack was still unfolding when Kain, Tay

The Chopping Block: Is Canton a Real Blockchain? Ethereum’s Cypherpunk Dilemma, AI Security Chaos Apr 5, 2026 3404 The Chopping Block crew and Wintermute’s Evgeny Gaevoy debate whether Canton is truly permissionless, if Ethereum Foundation should double down on cypherpunk ideals or embrace institutions, and how AI-driven attacks are forcing everyone in crypto and open source to rethink security models. Welcome to The Chopping Block — where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert

Do Centralized Real World Assets on DeFi Break Ethereum? - Bits + Bips Apr 5, 2026 3875 When do oil prices force a ceasefire? Why is crypto holding firm while equities crack? And does Canton or Ethereum win the institutional race? --- Thank you to our sponsor: ⁠⁠⁠Nexo⁠⁠⁠ — the premier digital wealth platform. Receive interest on your digital assets, borrow against them without selling, and trade a wide range of cryptocurrencies all in one place. Now available in the US with 30 day

How Bitcoin Is Both a Risk Asset and a Hedge Against Debasement Apr 5, 2026 2784 Charles Schwab’s chief crypto strategist breaks down why traditional finance valuation frameworks, not narratives, are finally taking hold in digital assets. --- Multichain Advisors is an emerging technology growth firm that has helped create over $50 billion in enterprise value for 80+ clients. Services include TGE support, go-to-market strategy, BD, partnerships, capital markets advisory, PR,

How Solana's Largest Perp DEX Was Exploited for $285 Million Apr 4, 2026 2337 Chaos Labs' Omer Goldberg unpacks the $285 million Drift Protocol exploit. Did the perp DEX fail to implement best practices? Sponsored by ⁠Nexo⁠: A crypto lending and borrowing platform that lets users earn interest on digital assets and access credit against their holdings. Now available in the US with exclusive privileges for new clients. Get started today:⁠ http://nexo.com/unchained⁠ Sol

DEX in the City: Why the Prediction Market Bans Could Just Be Beginning Apr 3, 2026 2519 Former FTX General Counsel Ryne Miller joins the DEX in the City crew to unpack the CFTC's crypto moves. Does the agency have the staffing to achieve its “aggressive” agenda? Thanks to our sponsor, Nexo, the premier digital wealth platform. Receive interest on your digital assets. Borrow against them without selling. Trade a variety of cryptocurrencies. All in one platform. Now available in the U

Quantum Computing Got 20x Closer. It Threatens A Third of All Bitcoin Apr 3, 2026 4158 Google just set a deadline. Quantum computers could break Bitcoin's encryption by 2029. Are blockchains ready? Sponsored by ⁠Nexo⁠ Nexo is the premier digital wealth platform. Receive interest on your crypto, borrow against it without selling, and trade a range of assets. Now available in the U.S with 30 days of exclusive privileges. Get started at http://nexo.com/unchained Google and Orato

Bits + Bips: Grid Congestion Is Energy’s L1 Problem. This Crypto Company Has a Solution Mar 28, 2026 2753 Oil above $100, Qatar's LNG infrastructure in ruins, and a 150-year-old grid buckling under AI-era demand: Sean Murray breaks down why energy has an L1 problem and how Fuse is building the crypto-native fix. --- Multichain Advisors is an emerging technology growth firm that has helped create over $50 billion in enterprise value for 80+ clients. Services include TGE support, go-to-market strategy

Why AI Agents Might Require Humans to Transact More Than as You Think Mar 27, 2026 2331 Will AI agents use cards or stablecoins? Here’s how two crypto VCs see the agentic future shaping up. Sponsored by Nexo: A crypto lending and borrowing platform that lets users earn interest on digital assets and access credit against their holdings. Now available in the US with exclusive privileges for new clients. Get started today: http://nexo.com/unchained What happens when merchants are cod

Uneasy Money: How the Resolv Hack Shows an Audit Doesn't Mean 'Secure' Mar 27, 2026 5041 Chaos Labs’ Omer Goldberg joins the crew to dig into the Resolv Labs exploit. Why was the USR minting function controlled by a single key? And how did audits miss it? Thank you to our sponsors! ⁠⁠⁠⁠⁠⁠Fuse: The Energy Network ⁠⁠⁠⁠⁠ – Shift your energy use and earn rewards. ⁠⁠⁠⁠⁠⁠MultiChain Advisors -⁠⁠⁠⁠⁠⁠ The Growth & Capital Markets Partner You Need ⁠⁠⁠⁠⁠⁠Crypto Tax Girl $25

Bits + Bips: Why Iran Is Trump’s Greatest Taco. Plus, Is Elon’s TeraFab ‘Bullshit’? Mar 25, 2026 3745 Trump pulled off a five-day ceasefire nobody expected. Ram calls it the greatest TACO of his career. --- Thank you to our sponsor: Nexo — the premier digital wealth platform. Receive interest on your digital assets, borrow against them without selling, and trade a wide range of cryptocurrencies all in one place. Now available in the US with 30 days of exclusive privileges for new clients. Get s

Bits + Bips: What Iran, Oil Shocks, and No Rate Cuts Mean for Crypto Mar 23, 2026 2560 Bitcoin dropped under $69K even as the SEC and CFTC create more clarity for crypto, and agentic commerce looks like it will reshape the sector. --- Thank you to our sponsor, MultiChain Advisors --- Bitcoin dropped under $69K after the Fed, ECB, and Bank of England all held rates steady this week, while Australia hiked. Kaiko's Laurens Fraussen joins to explain what's actually happening beneat

Bitcoin DeFi Has Been Elusive. Can Mysten Labs Bring $1.4 Trillion Onchain? Mar 20, 2026 1803 Adeniyi Abiodun, co-founder and CPO of Mysten Labs, walks through how Hashi works and how it differs from the competition. Can it succeed where others have failed? Nexo is the premier digital wealth platform. Receive interest on your crypto, borrow against it without selling, and trade a range of assets. Now available in the U.S with 30 days of exclusive privileges. Get started at ⁠nexo.com/un

Uneasy Money: Should DeFi Frontends Block High Slippage Swaps? Mar 20, 2026 4519 The crew unpacks the significance of the Trade[XYZ] S&P 500 license, why Vanity Fair's recent crypto piece is so controversial and whether the EF is returning to “communism.” Thank you to our sponsors! ⁠⁠⁠⁠⁠Fuse: The Energy Network ⁠⁠⁠⁠ – Shift your energy use and earn rewards. ⁠⁠⁠⁠⁠MultiChain Advisors -⁠⁠⁠⁠⁠ The Growth & Capital Markets Partner You Need Trade[XYZ] has obtained a l

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