The Chopping Block: Response to SAB-121, ETH ETF, & More - Ep. 650

Unchained

Laura Shin

News, Tech News, Business News

4.5 • 1.3K Ratings

🗓️ 23 May 2024

⏱️ 74 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Robert Leshner, and Tarun Chitra explore the latest trends in crypto. This episode covers the anticipated Ether ETF Approval and its market impact, Biden's evolving crypto policy, and the bipartisan repeal of SAB-121. We debate the controversy around High FDV Low Float Tokens and discuss the DOJ indictment for a $25 million MEV exploit. Tune in for insights on memecoin performance, the role of prediction markets in politics, and the increasing participation of retail investors in the crypto market. Show highlights 🔹 Crypto Regulation: In-depth discussion on SEC Crypto Guidance, focusing on SAB-121 and its implications for the crypto and banking sectors. 🔹 Ethereum ETF News: Examination of the anticipated Ether ETF Approval, the political motivations behind it, and potential market implications. 🔹 Biden Administration Crypto Stance: Analysis of Biden's evolving crypto policy, bipartisan repeal of SAB-121, and how these shifts might affect the upcoming elections. 🔹 High FDV Low Float Tokens: Debate on the controversy surrounding high FDV low float tokens, recent market downturns, and potential market structure issues. 🔹 MEV Exploit DOJ: Overview of the DOJ indictment of two brothers for a $25 million MEV exploit, exploring the legal and ethical implications. 🔹 Memecoin Performance: Insights into current market trends, including the performance of memecoins versus VC-backed tokens, and predictions on future regulatory impacts. 🔹 Prediction Markets in Politics: Exploration of how prediction markets are influencing political stances, particularly Trump's pro-crypto stance and its effects on voter behavior. 🔹 Impact of Regulation on Crypto: Discussion on the increased participation of retail investors in the crypto market and its broader implications. Hosts ⭐️Haseeb Qureshi, Managing Partner at Dragonfly ⭐️Tom Schmidt, General Partner at Dragonfly ⭐️Robert Leshner, CEO & Co-founder of Superstate ⭐️Tarun Chitra, Managing Partner at Robot Ventures Disclosures Links Haseeb’s “Why are all these low float / high FDV coins down bad?” https://x.com/hosseeb/status/1792257063399403669 Two Brothers Arrested for Attacking Ethereum Blockchain and Stealing $25M in Cryptocurrency: https://www.justice.gov/opa/pr/two-brothers-arrested-attacking-ethereum-blockchain-and-stealing-25m-cryptocurrency Tarun’s Towards a Theory of Maximal Extractable Value I: Constant Function Market Makers: https://arxiv.org/pdf/2207.11835 Timestamps (00:00) - Intro (2:20) - Congressional Response to SAB-121 (12:05) - Are memecoiners activists? (16:09) - Crypto is a new wedge issue (19:03) - ETH ETF & Regulation softening (22:23) - Prediction markets steering politics (30:22) - Being anti-crypto is stupid (35:38) - "High FDV, Low Float" tokens (40:16) - Market structure problems (49:14) - Market price is not sustainable (55:38) - DOJ vs. MEV Bot Exploit (1:01:45) - Crypto-on-crypto crime Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	The domino meme for all of this might actually be like
0:03.2	prediction market traders which no no no no the domino the beginning domino was
0:07.7	polygons b d d d team now that is the beginning domino polygon's's BD team is what created good
0:13.6	crypto policy in the US. I just want I just am saying this more because like I
0:18.5	think if you read the Democrat tweets and social media it's like completely divorced set of numbers
0:25.0	that they both are citing for why they're going to win
0:28.0	and the right really loves citing prediction markets
0:32.0	and I think that that's a bigger difference
0:34.5	in even last election I don't think it was so you're almost imagine it's like reverse causality
0:39.1	where it's like an incremental dollar pushing the odds of Trump up on Polymarket, make Trump more pro-cripto,
0:46.7	which therefore sort of build support amongst the base.
0:49.7	It's the future of lobbying.
0:51.3	We started with the future of finance and we ended up with the future of lobbying. We started with the future of finance
0:52.9	and we ended up with the future of lobbying.
0:55.0	Well, we can't prove or disprove this theory,
0:57.1	but I will just say it's not a completely unsound theory.
1:01.6	There's some grain of truth. You guys are a good team. Not a
1:07.5	dividend. It's a tale of two quand. Now your losses are on someone else's
1:11.4	balancing. Generally speaking, airs are kind of pointless anyways.
1:15.0	I made the trading firms who are very involved.
1:17.0	I like that eat is the ultimate problem.
1:20.0	D5 protocols are the antidote to this problem.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Laura Shin, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Laura Shin and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.