Bits + Bips: Could the LIBRA Scandal End the Memecoin Craze? - Ep. 786

Unchained

Laura Shin

News, Tech News, Business News

4.5 • 1.3K Ratings

🗓️ 19 February 2025

⏱️ 73 minutes

🔗️ Recording | iTunes | RSS

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Summary

The $LIBRA token launch was a disaster—insider trading, price manipulation, and yet another memecoin scandal. But does this mean the memecoin era is over? This week, James Seyffart, Joe McCann, Ram Ahluwalia, and Noelle Acheson break down the fallout from the $LIBRA launch, what it means for Solana and the broader market, and whether the crypto community is finally waking up to the risks of insider-driven tokens. They also dig into macro trends impacting crypto—including whether institutions are secretly loading up on bitcoin, the role of DOGE in the broader market, and why some traders are starting to position for a bounce. Plus, what’s next for SOL after weeks of bleeding? Show highlights: 2:45 - How everyone was so surprised by the $LIBRA scandal 10:40 - Why the likes of Hayden Davis are admitting to fraud 12:47 - Why Joe thinks that Solana is not affected by these debacles 15:26 - What Davis should do with the $100M in his power 20:21 - Whether the memecoin cycle is over 25:48 - The irony of people who now want regulations 33:31 - How big institutions have been loading up on bitcoin ETFs 38:20 - Why the U.S. government should modernize its technology 44:39 - Whether DOGE will have a big impact on macro 51:24 - What the Fed will do in the near future 55:29 - Why ETH outperformed this week and why the broader market tanked 1:04:33 - Why Ram believes that Solana will have to get through the “psychological damage” Sponsors: Bitwise Hosts: James Seyffart, Research Analyst at Bloomberg Intelligence Joe McCann, Founder, CEO, and CIO of Asymmetric Ram Ahluwalia, CFA, CEO and Founder of Lumida Noelle Acheson, Author of the “Crypto Is Macro Now” Newsletter Links Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	The reality of crypto over the last 10 plus years, it's been speed running the lessons of history.
0:06.1	So crypto learned what rehypification was.
0:08.9	It learned what fractional reserve banking was it.
0:11.2	It learned what securities.
0:14.2	It learned what leverage.
0:14.6	It learned what leverage is.
0:16.5	And now it's healthy in this post-Genzler area to have a learning like this relatively quickly
0:24.2	before you have a larger mishap.
0:27.6	Hi, everyone.
0:28.7	Welcome to bits and bips, exploring how crypto and macro collide one basis point at a time.
0:33.1	Today, we'll talk about Libra scandal.
0:35.1	And for those unfamiliar with it, we'll try to explain what happened and how it unfolded, and we'll discuss what it means for the meme coin cycle
0:41.0	for Solana as a blockchain and much more. But first, some quick intros. I'm your host, James
0:45.5	Safert, Tradfai Archmaister, Lord of Bloomberg's End. Here with Joe McCann, Lord Commander
0:50.7	of Asymmetric, and Master of Bonk. Hey, guys. I'm finally back.
0:55.0	Also, Noel Atchison, Hi, Seer and Keeper of the Crypto is Macro Now newsletter.
1:01.0	Hello, everyone.
1:03.0	And Rob Alawaleigh, Macer of Wealth, leader of Lumida. He should be joining us a little late, but we're going to jump in here.
1:09.0	So we're here to discuss the latest stories in the world of crypto and macro. Just remember that nothing we say here is investment advice.
1:14.4	Please check unchained crypto.com slash bips bips for more disclosures.
1:19.9	Crypto moves fast. It's why Bitwise launched the weekly CIO memo, a jargon-free summary
1:25.8	of what's moving crypto markets written by one of the best in the
	...

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