Unchained
Crypto assets and blockchain technology are about to transform every trust-based interaction of our lives, from financial services to identity to the Internet of Things. In this podcast, host Laura Shin, an independent journalist covering all things crypto, talks with industry pioneers about how crypto assets and blockchains will change the way we earn, spend and invest our money. Tune in to find out how Web 3.0, the decentralized web, will revolutionize our world.
Episodes
Bits + Bips: Why Bitcoin Has the Least to Gain From the Clarity Act
Cole Kennelly, founder and CEO of Volmex Labs, traces why BVIV and BVIV-US diverge around IBIT's regulated options market, makes the case that Ethereum, Solana, and Hyperliquid have more to gain from the Clarity Act than Bitcoin, and shares his outlook for an increasingly institutional crypto market by year-end.
Host:
Steven Ehrlich, Head of Research at Sharplink
Guest:
Cole Kennell
How Jesse Pollak Is Mapping Out Base's Next Chapter After the App Pivot
Jesse Pollak owns the Base App's social miss, unpacks Robinhood Chain's rise, and explains Brian Armstrong's memecoin moment.
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Cobie Taking Over Base App? He's 'the Respectable Trencher': Uneasy Money
An OpenAI model hacked Hugging Face to cheat its own test. Kain and Taylor break it down — plus Base’s failed social bet and the North Korean IT workers still inside crypto.
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The Chopping Block: The CLARITY Act Endgame with Patrick Witt + Gauntlet's $125M SBI Raise + Balaji's Malaysia Exodus
Patrick Witt, the White House's executive director for digital assets policy, calls in mid-episode to give the Chopping Block crew a live read on the CLARITY market structure bill!
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. This week they're joined mid-episode by Patrick Witt, Executive
DEX in the City: How Kalshi’s Rough Week Became a Federal Fight for Prediction Markets
The CFTC pulled a power last used in the Carter era to rescue Kalshi. Katherine, Jessi, and Vy Le on what it means — plus Japan’s crypto tax cut and DTCC’s tokenization leap.
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Why You Can't Opt Out of the AI Guardrails Race
📢 Bits + Bips has its own channel now — full episodes here: https://www.youtube.com/@Bitsandbips/
Austin Campbell's claim that Claude Fable 5 cracked the decades-old Jacobian conjecture opens onto a bigger question: why AI's real-world impact on health care is still lagging.
The conversation turns to battlefield drones in Ukraine, the national security stakes of AI guardrails, and why Ch
How Lyn Alden Will Take on Bitcoin DATs and Private Equity With Orange Juice
Lyn Alden raised $40M to launch Orange Juice, a holding company that buys cash-flowing businesses and layers Bitcoin on top, not another pure-play treasury bet.
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How a Surprise Clarity Act Vote Could Move Crypto Prices
If you haven't yet, be sure to subscribe to Bits + Bips on its dedicated channels. Follow us on Apple Podcasts, YouTube, Spotify, X, Unchained and wherever you get your podcasts.
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Why Cap Cuts Its Stabledrop Rewards From $11M to $4M: Uneasy Money
Cap's founders on shrinking their Stabledrop from $11M to $4M — plus a $23M hack traced toward North Korea, a BarnBridge governance exploit, and Kain's case to force weak L2s to become their own L1s.
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Why Robinhood Chain Saw Memecoins Take Off Before Real World Assets
Two weeks after launch, 85% of Robinhood Chain's trading is memecoins and just 1% is RWAs. Johann Kerbrat says that doesn’t change the strategy.
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Crypto Has Seen Drama Over ENS, BonkDAO and VVV. What Does DeFi's Future Look Like?
Nick Almond and Proph3t on ENS's treasury fight, the BonkDAO heist, and why Proph3t would not touch Venice's VVV token.
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DEX in the City: Why the Supreme Court's FTC Ruling Could Rewire Crypto Regulation
The Supreme Court just made it easier to fire SEC and CFTC commissioners. Katherine, Jessi, and Vy on why that could reset who controls crypto policy. Plus, the UK's new rulebook.
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Sam Lyman Puts 70% Odds on Clarity Passing Before Recess
Austin Campbell draws a parallel between the AI data center backlash and the decades-long collapse of US nuclear power, then Sam Lyman of the Bitcoin Policy Institute puts real odds on whether the Clarity Act passes the Senate before August recess.
Hosts:
Austin Campbell, Host of Bits + Bips, Founder of Zero Knowledge Group, and Adjunct Professor at NYU Stern
Ram Ahluwalia, Co-host of
Why CLOs Are Suddenly DeFi's Hottest Yield Play
Niklas Kunkel maps where the RWA market is heading next, from Centrifuge and Apollo's CLOs to Galaxy's first tokenized credit product, then turns to a cautionary tale: some SpaceX pre-IPO token buyers never actually owned the shares they thought they had.
Host:
Steven Ehrlich - Host of Bits + Bips and Head of Research at Sharplink
Guest:
Niklas Kunkel - Founder and CEO of Chronicle
How Lighter Powers Robinhood Perps With USDG as the Quote Asset
Robinhood Chain perps now run on Lighter. Vlad Novakovski maps the revenue split, the USDG collateral risk, and the race for a US perps license.
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Austin Griffith on the $1 AI Audit and the Case for Founders Over DAOs: Uneasy Money
Austin Griffith joins Kain Warwick and Taylor Monahan to unpack BonkDAO's $20M governance heist, and Kain's case for giving founders more control.
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The Chopping Block: Tokens vs Equity, Lighter's Robinhood Perps Deal, and Trump's $2.4B Crypto Windfall
Vladimir Novakovski of Lighter joins the Chopping Block crew to untangle one of crypto's oldest debates: what happens when tokens and equity coexist. The gang digs into the Venice/VVV controversy, breaks down Lighter's new Perps integration with Robinhood Chain and the fragmentation questions it raises, dissects the wild BonkDAO governance exploit, and reacts to the eye-popping $2.4 billion in cry
Why Strategy Dumped Its Biggest Bitcoin Tranche Yet
For years, Michael Saylor's Strategy was the market's most dependable Bitcoin buyer. Recently, it has done the opposite.
Strategy just sold 3,588 Bitcoin for roughly $216 million, its largest single tranche yet, deepening the question of whether Michael Saylor has become a structural seller instead of a buyer.
Ram Ahluwalia, Austin Campbell, and Chris Perkins break down the STRC dividend mechani
Strategy Sold More Bitcoin. Is This a Betrayal of the Bitcoin Ethos?
Strategy sold $260M of Bitcoin at a loss to fund dividends. Parker White of Apyx makes the case that it is smarter than it sounds.
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Ari Redbord Sits Down With the Hosts of DEX in the City
Ari Redbord sits down with Katherine, Jessi, and Vy to talk about SEC clarity, the onshore perps boom, and DeFi's opsec problem — plus why the U.S. should hack North Korea back.
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How Ethereum Institutional Intends to Grow Ethereum's Market Share
Joseph Chalom lays out why Ethereum Institutional exists, how it differs from Etherealize, and why he thinks Michael Saylor is in a pickle.
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How One ENS Vote Reignited the DAO Governance Debate: Uneasy Money
Nick Johnson's ENS vote sparked days of backlash. He and co-founder Alex Van de Sande join Uneasy Money to explain what actually happened.
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Why Bitcoin's Lack of Yield Keeps Straining Its Treasury Companies
David Lawant, Head of Research at Anchorage Digital, breaks down why Bitcoin's lack of native yield puts constant pressure on treasury companies, and makes the case that Michael Saylor's playbook is evolving rather than breaking.
Host:
Steven Ehrlich, Host of Bits + Bips: The Interview and Head of Research at Sharplink
Guest:
David Lawant, Head of Research at Anchorage Digital
Why Authorities Can't Freeze Crypto Fast Enough: DEX in the City
Regulators try to freeze illicit stablecoins, but the money's usually gone before the freeze lands. The hosts on why crypto sanctions keep failing.
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The Chopping Block: Visa, Mastercard & 140 Firms Take On Circle, Saylor’s Digital Credit Reset & the DAO Reckoning
The crew is joined by Selini Capital’s Jordi Alexander to break down Open USD, the no-fee stablecoin from a 140-firm consortium spanning Visa, Mastercard, BlackRock, Google and Coinbase, all aimed at the Circle and Tether duopoly. Plus Saylor’s new Digital Credit framework for MicroStrategy, the Ansem-fueled memecoin comeback, and ENS reigniting the “DAOs are fake” debate.
Welcome to The Chopping
How a Fake Podcast Invite Nearly Hacked Laura Shin
Laura Shin has reported on crypto scams since the early days and wrote one of the first stories on sim swaps. That did not stop a spear-phishing attempt from getting her to download software and run a terminal command before she caught it.
Austin Campbell, Ram Ahluwalia, and Chris Perkins turn her near miss into a practical defense playbook, then debate whether self-custody still makes sense for
How the New Ethlabs Plans to Make Ethereum More Intentional in Designing ETH
Is it Ethereum or bust? Ansgar Dietrichs makes the case that only Ethereum can anchor the financial system, and admits ETH still lacks a clear value story.
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A Perp Venue Asked Her to Trade Her Own Benchmark. She Said No
Carmen Li thought it was a joke when a perpetual futures marketplace asked her to become the market maker for her own index. It wasn't.
In this segment from Bits + Bips: The Interview, she walks Steven Ehrlich through the requests that alarmed her, a daughter analogy for why trading your own benchmark destroys neutrality, the manipulation risks she sees in crypto's index practices, and why she in
Why CME Sued the CFTC Over the Kalshi Bitcoin Perp Approval
A regulated exchange suing its own regulator almost never happens. The hosts trace why CME did it, and why the CFTC may have better odds than crypto Twitter thinks.
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How the Strategy Empire Breaks, and Whether Saylor Can Stop It
Vinny Lingham warned 18 months ago that Michael Saylor would harm Bitcoin more than FTX. Now he maps how the Strategy empire breaks and the one move that could slow the bleed.
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Ex-Ethereum Foundation Researchers Launched Their Own Lab: Uneasy Money
An anti-MEV activist spent weeks building 66 fake contracts to trap the sandwich bot jaredfromsubway.eth. Then jared's operators did the one thing nobody expected.
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The Chopping Block: Is Strategy the Luna for Suits?, ETH Labs Shakeup & CME vs Perps
The crew debates whether Saylor's STRC preferred shares are "Luna for suits," unpacks the ETH Labs spin-out and Ethereum Foundation layoffs, breaks down the CME's lawsuit against the CFTC to kill domestic perps, and weighs whether Meta's leaked prediction market Arena is a real threat to Polymarket.
Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra,
Are Perpetuals Swaps or Futures? The CME Picks a Fight
Three years ago, Chris Perkins sat across from Terry Duffy in Congress and made the case for perpetuals. Duffy pushed back — hard. Now Duffy's CME is suing the very regulator that finally allowed them.
The CME argues Bitcoin perpetual futures are really swaps and should carry far more collateral. Chris traces the Dodd-Frank history that created the swap-versus-future divide, and Austin Campbell l
How Digital Credit Assets like STRC and SATA Differ from Bitcoin or DAT Stocks
Was Michael Saylor wrong to sell Bitcoin? Matt Cole breaks from his fellow critics on Strategy, S&P's junk rating on MSTR, and whether the model is breaking.
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Why Kalshi's John Wang Says Perps Are 'the Most Pure Trading Instrument'
Kalshi just brought crypto perps to the US, targeting a $90 trillion offshore market. Its Head of Crypto, John Wang, explains the bet, the risks, and who Kalshi is actually competing with.
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Why Fable's Shutdown Is a Warning for Every AI Lab: Uneasy Money
The government export-controlled Anthropic's best model. Kain, Luca, and Taylor debate whether Dario talked his way into it and what the shutdown means for every AI lab.
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Why Pandl Calls Gold and Bitcoin Buys Here
Zach Pandl, Head of Research at Grayscale Investments, argues that speculative retail flows, not geopolitical fundamentals, drove the recent gold and Bitcoin selloffs. His read: momentum chasing built gold from $4,000 to well above $5,000, then rotated out to chips and pre-IPO trades. The underlying deficit-and-debt case for both assets hasn't changed, and he's calling the dip a buy for longer-hor
Why AI Censorship and Reg NMS Repeal Matter for Crypto Markets: DEX in the City
The federal government pulled Anthropic's Fable 5 offline with no public process — and Jessi Brooks makes the case it's a crypto chokepoint story, not just an AI one.
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The Chopping Block: SpaceX IPO Mania, Fable 5 Export Controls & The AI Privacy Fight
The crew breaks down the SpaceX IPO's crypto-like low float dynamics and Hyperliquid's price prediction, debates accredited investor laws and failed tokenized stock allocations, dives into Fable 5's export control shutdown after Amazon flagged a jailbreak to the Treasury Secretary, and argues whether open source AI models will eat frontier pricing.
Welcome to The Chopping Block — where crypto i
Unchained Celebrates 10 Years! Laura and Haseeb Cover Highs, Lows and New Directions
For the tenth anniversary of Unchained, Laura reflects on the SBF question she never asked, the Charles Hoskinson beef, and why she may be done with strict neutrality.
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Why Sam Enzer Says the Fable 5 Ban Should Worry Crypto
The US government issued a Friday-night export control directive against Anthropic's Fable 5, citing a jailbreak that could expose advanced cyber capabilities built into the underlying Mythos model. No statutory authority was publicly disclosed. No comment period was given.
Sam Enzer, Partner and CahillNXT Co-Chair at Cahill Gordon & Reindel, joins Austin Campbell, Ram Ahluwalia, and Chris Perkin
Why the AI Business Model Is Cracking and How Crypto Could Help Fix It
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.
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Claude Found a 4-Year Zcash Bug. Now It Won't Audit DeFi: Uneasy Money
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.
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The Chopping Block: Zcash Infinite Mint Bug + AI Hackers vs Formal Verification + NEAR's Agent Vision
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
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
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.
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Why Mike Dudas Has Zero Exposure to ETH, but Is Bullish on Hyperliquid
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.
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What Two DOJ Cases Reveal About the Legal Risks of Prediction Markets: Bits + Bips
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.
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The Chopping Block: Ethereum's Inflection Point w/ Joe Lubin on DATs, CROPS, AI-Driven Exploits, Quantum Threats, and CFTC's Perps
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
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.
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CFTC Approves True Perps and Agentic Finance Gets Real: DEX in the City
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?
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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
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.
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Strategy’s late-May Bitcoin sale has tu
Bits + Bips: How the Dimon vs. Armstrong Clash Reveals Crypto at Peak Political Power
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.”
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Is 'All of DeFi Unsafe'? What You Need to Know About Holding Assets Onchain
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.
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Bitcoin Stalls, Stocks Soar: The Disconnect That Defines This Cycle
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.
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The Chopping Block: Ethereum's Identity Crisis, Apostates Speak Out, and Is ETH the Microsoft of Crypto?
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
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.
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Why Fintechs May Finally Beat Banks at Their Own Game: DEX in the City
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.
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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?
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.
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Why the SEC Paused on Its Innovation Exemption for Tokenization: Bits + Bips
Citadel and SIFMA lobbied to slow tokenized equity rules. Arjun Sethi calls it 'corporate plumbing.' Chris Perkins calls it a bond future moment.
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The Bond Market Is the Boss Now: Bits + Bips
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.
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Why Pre-IPO Perps Like SpaceX on Hyperliquid Are Seeing an Upswing
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.
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The Chopping Block: The CLARITY Act, Hyperliquid vs CME, and the Prediction Market Supreme Court Showdown
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
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.
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Why the Consensus After-Party Set Crypto Back: DEX in the City
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.
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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
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.
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Can Hyperliquid Come Onshore Without Killing What Makes It Special?
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?
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How Hyperliquid Benefits From Its New Deal With Coinbase Over USDC
Coinbase just became the official USDC treasury deployer on Hyperliquid. Alex Weseley of Artemis explains how this boosts Hyperliquid’s annual revenue by 25%.
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Bits + Bips: The Interview — The $16 Trillion Repo Market Is TradFi’s Central Nervous System. Its Finally Coming Onchain
The repo market is $16 trillion globally and most people have never heard of it — until the plumbing breaks. Craig Birchall of FalconX and Matteo Pandolfi of Pareto explain how it works and why bringing it on-chain is the next big unlock for DeFi.
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Uneasy Money: Why the Broken Pre-IPO Secondary Markets Won't Be Fixed Anytime Soon
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.
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Why Arthur Hayes Thinks the AI Bubble Bursting Could Spark a Crypto Bull Market
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.
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DEX in the City: Will the CLARITY Act Pass? Three Crypto Lawyers Give Their Odds
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.
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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
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?
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Coinbase's Chief Policy Officer on Why He Believes the Clarity Act Will Pass
Coinbase's chief policy officer explains why the bank lobby failed to kill stablecoin rewards — and what 'workable compromise' actually means for crypto users.
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A16z Crypto Raised $2.2 Billion for Fund 5. Here's How They Plan to Deploy It
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.
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Why Wrapped Energy or Compute Will Be the New Store of Value: Bits + Bips
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.
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DEX in the City: With the Stablecoin Yield Compromise, Can the Clarity Act Get Passed?
Seven lawsuits blame OpenAI for enabling a mass shooting. Could the same legal theory come for DeFi?
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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
A legal battle over frozen KelpDAO hack funds is forcing DeFi to answer questions it has long avoided.
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Ben Fielding: Gensyn, Decentralized AI, and the Prediction Market That Settles Itself: Bits + Bips
A prediction market trades on outcomes. An information market trades on knowledge. Fielding makes the case for the latter.
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After April's $606 Million in DeFi Hacks, What's the Fair Value Yield Rate?
$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.
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