The Chopping Block: VC Tokens, Memecoins & Celebs, and Seasonal Patterns - Ep. 663

Unchained

Laura Shin

News, Tech News, Business News

4.5 • 1.3K Ratings

🗓️ 19 June 2024

⏱️ 53 minutes

🔗️ Recording | iTunes | RSS

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Summary

Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Robert Leshner, and Tarun Chitra explore the latest trends in the crypto world. In this episode, we dive into the impact of celebrity-endorsed memecoins, featuring discussions around Iggy Azalea's 'Mother' token, Waka Flocka Flame's 'Flocka' token, and other celebrities. We debate the broader implications of these phenomena on the crypto market, address criticisms of venture capital's role in crypto, and explore the seasonal nature of crypto trading. Tune in for an in-depth look at how pop culture intersects with cryptocurrency, shaping current market sentiment. Show highlights 🔹 Seasonality in Crypto: Exploration of the historical seasonal trends in crypto markets and their implications. 🔹 Memecoins & Celebrities: Insightful discussion on the rise of celebrity-launched memecoins and their impact on the crypto world. 🔹 Market Cycles: Exploration of the different phases in market cycles and their effects on asset creation and liquidation. 🔹 VC Funding in Crypto: Examination of the role of venture capital in the crypto ecosystem and its impact on market dynamics. 🔹 VC vs. Liquid Funds: Debate on whether venture capital funds are beneficial or detrimental to the crypto markets. 🔹 Institutional and Retail Adoption: The importance of growing crypto usage among both institutions and retail investors. 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 Timestamps 00:00 Intro 01:58 Market Sentiment 07:34 Celebrity Involvement in Crypto 16:00 Celebrity Coins vs Endorsements 25:24 Influencer Economy and Social Tokens 27:41 Legibility and Value of Memecoins 28:37 Crypto Influencers 31:07 VCs vs. Retail 36:50 Future of Crypto Markets 43:53 Institutional vs. Retail Adoption 50:45 Taking on Populist Takes Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	But there's not like a clear obvious like oh this thing will like lose all your money or you don't get these guarantees whatever it's like hey
0:10.1	This is just this joke asset right and if people have attention on it, it'll go up.
0:14.9	There are enough crazy fans in the world.
0:17.5	Like think about Swifties.
0:19.4	The Swiftie economy has got to be bigger
0:21.2	than the market cap of all of the
0:22.6	meme coins combined.
0:24.4	Mem coins are kind of dumb, but they're at least not
0:27.2	net destructive because it's all zero sum, right?
0:29.7	It's like some people make money, some people lose money, but
0:31.5	there's in some cases no insider, right?
0:33.0	So in Dogecoin or whatever, Flokey, there's no insider.
0:37.0	In these celeb tokens, there is no social contract as far as I can tell.
0:40.0	Nobody has explained when is Waka Flakaachafly I'm supposed to sell their
0:43.8	tokens. When is it okay? In what way is it okay? How much of the liquidity are they
0:48.3	allowed to take for themselves? What makes it not a rug? What makes it a rug?
0:50.7	If you look at the previous cycle, one of the criticisms
0:53.2	that many people levied against crypto influencers and against VCs as well was
0:57.4	that there was a lot of bullshit that everybody knew was bullshit and most people
1:01.0	didn't say anything. And I think on some level that was one of the lessons that I really took away from
1:05.4	2022 was when you see something is bullshit you should say it.
1:09.6	Not a dividend.
	...

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