David Phelps (Jokerace) on Incentivizing Participation and Co-creation (EP.456)

David Phelps is the co-founder and CEO of jokerace and a prolific writer. He joins the podcast to discuss:

  •  Why tokens are not optimal for effective governance
  •  Alternative ways to incentivize users and distribute decision making power
  •  How we solve for retaining users versus just attracting them
  •  Composability and evolving from user generated content to user generated apps

Check out this episode!

Weekly Roundup 09/29/23 (Gensler HFSC hearing, Vespa problems, SBF trial starts) (EP.455)

Matt and Nic return for deals and news. In this episode: 

  • Is AI going to cause unemployment for IB associates?
  • Blockchain based sneakers
  • Tungsten business cards
  • What’s happening with OTB merch?
  • Nic’s Vespa catastrophe
  • Gensler’s HSFC hearing
  • How Gensler is the Tonya Harding of crypto
  • Made up airlines
  • What’s going on with Huobi?
  • FTX trial starts next week

Content mentioned in this episode:

Check out this episode!

Weekly Roundup 09/22/23 (SBF family in focus, Tether is lending again, BTC security budget) (EP.454)

Matt and Nic return for news and deals. In this episode: 

  • We recap the conferences 
  • Nic’s Columbia lecture snafu
  • The Bitcoin security budget debate 
  • One theory for what might provide Bitcoin with long term security
  • FTX sues Joseph Bankman and Barbara Fried
  • Tether has resumed their lending operations
  • Did SBF’s parents make him do it?  
  • HK is creating stablecoin legislation
  • USA vs Singapore

Content mentioned: 

Sponsor notes: 

 

 

Check out this episode!

Henri Stern (Privy) on Wallet Experiences for Mainstream Users (EP.453)

Henri Stern, CEO and co-founder of Privy, joins us to discuss:
  • The contradictory functions that wallets serve
  • Offering in-app non-custodial embedded wallets
  • Balancing the trade offs of security versus convenient recovery
  • How customers are customizing their embedded wallet experience
  • The decision to build third party wallet connectors and embedded wallets
 
 

Check out this episode!

Weekly Roundup 09/15/23 (Token 2049 reviewed, Stables are the killer app) (EP.452)

Matt and Nic are back for another week of news and deals. In this episode. 

  • We review Singapore and Token 2049
  • Singapore food reviews
  • Is crypto pivoting to Asia?
  • Singapore bans the 3ac boys from the Securities industry for 9 years
  • The offshoring of dollar stablecoins
  • Stablecoins are becoming interest bearing
  • Fortress is hacked and acquired by Ripple
  • SEC versus Stoner Cats
  • Sentiment is turning against John Ray III
  • We review Arthur Hayes’ party in Singapore
  • How involved was Joe Bankman in FTX?
  • Genesis is ceasing trading operations
  • 19 hour flights

Content mentioned in this episode:

Nic’s Token 2049 Keynote (slides)

Bloomberg, How Sam Bankman-Fried’s Elite Parents Enabled His Crypto Empire

Check out this episode!

Peter Johnson (BH Digital) on the Relentless rise of Stablecoins (EP.451)

Peter Johnson, co-head of Venture at Brevan Howard Digital, returns to the show to talk about his latest theses on stablecoins. In this episode: 

  • The origins of Peter’s interest in stables 
  • We review Peter’s prior stablecoin predictions 
  • USDC versus USDT market share trends 
  • Peter’s main takeaways from the Relentless Rise paper
  • Stablecoin usage on BSC and TRON 
  • Peter’s views on PYUSD
  • The emergence of interest-bearing stablecoins 
  • How synthetic USD stablecoins might work
  • Stablecoin comparisons to the Eurodollar market
  • We make some predictions 

Further reading: 

 

Check out this episode!

Iris_roughcut_mixdown.mp3

Eric Wall on Eric’s Orb (EP.417)

Eric Wall is a cryptocurrency researcher, analyst, critic, and investor. In this episode we sit down to discuss the creation and premise of his new project, the Orb

  • What is the orb?
  • How did the orb come about?
  • How to bet on the human capital and reputational growth of individuals
  • Why previous social tokens failed
  • What does the orb entitle you to?
  • Why the orb is not a security
  • Harberger taxes and their implementations so far
  • How harberger taxes create better allocative efficiency
  • Harberger taxes and domain names
  • The problem with social tokens as a way to invest in people
  • Why an obligation to a single holder is better than one to many holders
  • Eric’s feud with the Hex community and how the rb could solve this
  • Possible orb failure modes
  • Possible AI issues with the orb
  • Why orb issuers have an incentive to provide value to holders
  • The possible role of orbs in venture capital
  • How the orb could disrupt expert networks
  • How to parameterize the orb
  • The significance of the orb animations

Further reading:

Check out this episode!

Weekly Roundup 04/14/23 (ETH unstaking, FedNow vs CBDCs, NYT on mining, FTX 2.0 gets closer) (EP.416)

Matt and Nic return for another week of news and deals. In this episode: 

  • Is Ethereum going through a ‘bullish unlock’?
  • Did the SEC decicion around staking help decentralize Ethereum?
  • What is a commodity?
  • We pitch futures for restaurant bookings
  • The problem with ‘phygitals’
  • What’s going on with DWF labs?
  • Twitter users will be able to trade crypto through the app
  • Is FedNow a CBDC?
  • Does FedNow introduce risks to the banking system?
  • A relaunch of FTX gets more likely
  • How the DOJ caught the Silk Road hacker
  • Could a CBDC emerge which is actually private?
  • We roll out the Tap In or Tap Out segment
  • Is France going to become a crypto haven?
  • The NYT article on Bitcoin mining
  • Did the NYT doctor pictures to make Bitcoin miners look more polluting than they are?
  • CIV is hiring

Sponsor notes: 

Check out this episode!

Dennison Bertram (Tally) on the Future of DAOs (EP.415)

Dennison Bertram, the co-founder and CEO of Tally, returns to the show. In this episode we discuss:

  • Dennison’s career in the crypto industry from exchange founder to founding Tally.
  • How to frame DAOs from a total addressable market perspective.
  • What types of companies and industry categories would be better served as DAOs.
  • Best practices in managing DAOs.
  • The regulatory landscape for DAOs and how state LLC regulations could factor into future legislation.
  • How Tally works with leading DAOs.

To learn more about Tally visit their website and follow Dennison on Twitter.

See also: 

Check out this episode!

Weekly Roundup 04/07/23 (OCP2.0 remedies, Treasury on DeFi, FTX.com relaunch?) (EP.414)

Matt and Nic return for another week of news and deals. In this episode: 

  • What are the prospects for dealing with OCP 2.0?
  • Creditors are considering relaunching FTX int’l
  • The boundary between being a visionary and a scammer
  • Nic’s feud against NPR
  • What’s the deal with the bug eating meme?
  • Are lobsters bugs?
  • What happened to the tungsten cube NFTs?
  • Singapore banks might be warming up to crypto
  • Hong Kong is red hot as a crypto zone
  • A new paper alleges the Fed has overstepped its discretionary authority
  • The Case for Banning Crypto
  • The US treasury report on DeFi protocols
  • Apple embeds the Bitcoin whitepaper on all laptops
  • Nic’s UFC picks and Matt’s golf picks

Content mentioned in the episode:

Check out this episode!

Lorien Gabel and Benjamin Thalman (Figment) on Staking and the Ethereum Shanghai Upgrade (EP.413)

Lorien Gabel and Benjamin Thalman of Figment join the show. In this episode we discuss:

  • The founding story of Figment and the focus of the firm.
  • The evolution of proof of stake blockchains and how Figment helps their customers with staking.
  • Ethereum, the Shanghai upgrade and the likely impacts of withdrawal functionality on the network.
  • Views on the current regulatory environment and how that impacts proof of stake participants.

To learn more about Figment visit their website and follow Lorien and Benjamin on Twitter.

Check out this episode!

David Thompson (Cooper & Kirk) on What Can be Done about Operation Choke Point 2.0 (EP.412)

In this episode I sit down with David Thompson, managing partner at Cooper & Kirk. We cover the emergence of Operation Choke Point 2.0 and what recourse can be sought by the industry. In this episode: 

  • Cooper & Kirk’s track record and reputation
  • The story of Choke Point 1.0 and how Cooper & Kirk helped end it
  • How was OCP 1.0 resolved? 
  • Why Cooper & Kirk wrote their recent white paper on OCP 2.0
  • Differences between Choke Point 1.0 and 2.0 
  • Inconsistencies in FDIC Chair Gruenberg’s Congressional testimony
  • Why David thinks that a complaint on due process grounds might be the best option for affected firms 
  • Relevant constitutional protections 
  • How OCP 2.0 might resolve
  • The fate of the SPDIs
  • Possible violations of the Administrative Procedures Act by the Fed
  • How SCOTUS might rule on this issue 

Further reading: 

Check out this episode!

Weekly Roundup 03/31/23 (CFTC v Binance, McHenry’s stablecoin bill, Gruenberg’s questionable testimony) (EP.411)

Matt and Nic return for another week of news and deals. 

  • Cooper and Kirk’s white paper on Operation Choke Point 2.0
  • How bank regulators put crypto-facing banks in a catch-22
  • SBF charged with bribing a Chinese official
  • Is Sam funding his legal defense with funds purloined from FTX users?
  • The CFTC charges Binance with operating an unlicensed derivatives exchange
  • Binance execs haz no confidence in their geofencing
  • How did the CFTC get their hands on CZ’s Signal history
  • The SEC shuts down Beaxy
  • Microstrategy buys another $150m worth of Bitcoin
  • NASDAQ is aiming to launch their crypto custody platform in June
  • What’s the deal with McHenry’s stablecoin bill?
  • House Democrats would make issuing a stablecoin effectively illegal
  • Elizabeth Warren is “building an anti-crypto army”
  • Are DAOs unincorporated associations or general partnerships?
  • Is the SPDI dead in the water?
  • Did the FDIC Chair perjure himself in front of Congress this week?
  • What’s the deal with the SigNet sale?
  • Is dedollarization happening?

Content mentioned:

  • Cooper & Kirk whitepaper on Operation Choke Point 2.0

Check out this episode!

Matt Hougan (Bitwise) on Crypto Market Narratives and the Launch of BITC (EP.410)

Matt Hougan, the Chief Investment Officer at Bitwise Asset Management joins the show. In this episode we discuss:

  • The banking crisis and Operation Chokepoint 2.0
  • The decisions facing the Fed and the second order impacts of Fed policy
  • How the cryptocurrency industry has evolved post FTX
  • Prospects for stablecoin and market structure regulation in the digital asset industry
  • The bitcoin futures market
  • The launch of the Bitwise Bitcoin Strategy Optimum Roll ETF (BITC)

To learn more about Bitwise visit www.bitwiseinvestments.com and follow Matt on Twitter.

 

Check out this episode!

Weekly Roundup 03/24/23 (Do Kwon apprehended, SEC v Coinbase, bank crisis retrospective) (EP.409)

Matt and Nic return for another week of news and deals. In this episode: 

  • Matt’s turkey trouble continues
  • Nic’s vespa problem
  • Nic’s latest Choke Point 2.0 article
  • Did the government destroy Signature on purpose?
  • Who is the main architect of Choke Point 2.0?
  • Why was Signature closed when PacWest and First Republic were given time?
  • The Catch-22 in NY banking law
  • Who has recourse in the Signature situation?
  • Why we won’t be going offshore
  • The SEC announces charges against Justin Sun and celebrity endorsers
  • The SEC sends Coinbase a Wells Notice
  • FTX creditors recoup $460m from Modulo Capital
  • Reps Emmer and Soto introduce the Blockchain Regulatory Certainty Act
  • The White House report is hostile to crypto
  • Matt’s Hong Kong conspiracy theory
  • Is the EU racing ahead of the US in terms of regulation?
  • The XRP case is nearing summary judgment
  • Bitwise announces their futures ETF $BITC
  • We read some of our podcast reviews

Content mentioned:

Check out this episode!

Jamil Dhanani & Nick Sainato (Gamma) on Building a Trustless Ordinals Marketplace (EP.408)

Jamil and Nick, co-founders of Gamma.io, join us on the show to discuss:
  • Lowering the barrier to inscribing NFTs on Bitcoin

  • Why creators and collectors are excited about NFTs on Bitcoin
  • Designing a trustless Ordinals marketplace that aligns with its unique culture

  • The emerging collecting and trading culture on Bitcoin and it’s key differences

 

Check out this episode!

Nick Hansen (Luxor) on Ordinals, Blockspace, and Mining Pools (EP.407)

Nick Hansen is the cofounder and CEO of Luxor, a Bitcoin mining pool. He joins to talk to us about his excitement around ordinals and inscriptions, and how Luxor is thinking about the opportunity.

  • The history of ordinals and how Luxor got started in the space
  • How Luxor mined the first 4MB block in Bitcoin
  • Luxor’s decision to acquire Ordinalhub and their intentions with the project
  • Risks Luxor incurred by mining the first 4MB block
  • Transaction standardness versus validity
  • How ordinals increase the overall quantity of Bitcoin blockspace
  • The risks of out of band fees to Bitcoin
  • Does Bitcoin already have MEV?
  • How does the block reward decay make reorgs more likely?
  • Where Luxor sees opportunity in ordinals
  • Have inscriptions had a material impact on miner rewards?
  • The effect of inscriptions on fees
  • Transacting with PSBTs versus standard NFT marketplaces
  • Nick’s confidence in the long-term persistence of Bitcoin state
  • Why it’s virtually impossible to purge state in Bitcoin
  • Are ordinals and inscriptions a violation of the implied Bitcoin social contract?
  • Have inscriptions inadvertently ossified Bitcoin at the protocol level?

Check out this episode!

Weekly Roundup 03/17/23 feat. Alex Thorn (Bank crisis, Fed makes $2T available, Signature mysteries) (EP.406)

Matt and Nic are back to cover a dramatic week in crypto. Galaxy Digital’s Alex Thorn also joins to provide market color. In this episode: 

  • Bitcoin’s price action in response to the bank runs
  • USDC recovers its peg
  • FTX crime family news
  • Signature bank is shut down somewhat arbitrarily
  • What happened with Silvergate?
  • Is Operation Choke Point 2.0 real?
  • Blockchain Association FOIA’s federal banking regulators
  • Are macro funds dipping their toes back into Bitcoin?
  • Crypto Banks are gutted
  • Was Signature solvent when it was shut down?
  • Will Signet be sold off in the Signature auction?
  • What was the importance of SEN and Signet?
  • First Republic secures $30b in deposits
  • What happened with Silvergate and the FHLB?
  • Galaxy Digital’s head of research Alex Thorn joins the show
  • Arbitrum announces their airdrop

Check out this episode!

Weekly Roundup 03/10/23 (Silvergate wind-down, NYAG comes after ETH, more bank runs) (EP.405)

Matt and Nic are back for another tumultuous week of news and deals. In this episode: 

  • Nic’s Vespa crisis
  • FTX crime family update
  • Grayscale’s oral arguments go well against the SEC in the GBTC case
  • Binance.US wins the right to buy the Voyager assets in court
  • NYAG sues Kucoin and alleges that ETH is a security
  • Silvergate is undergoing an orderly wind-down of the bank
  • Why did Silvergate really collapse?
  • Why are regulators trying to precipitate bank runs?
  • Structural issues explaining why Silvergate’s deposits were so correlated
  • SVB experiences a bank run
  • Are the Silvergate and SVB difficulties warning sights that the Fed’s rate regime can’t last?

Content mentioned: 

Check out this episode!