THE HASH: Crypto Developer Brothers Leave VC Firm After CoinDesk Exposé; Coinbase Price Bug Exploit

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CoinDesk

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4.7 • 698 Ratings

🗓️ 3 September 2022

⏱️ 22 minutes

🔗️ Recording | iTunes | RSS

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Summary

The most valuable crypto stories for Friday, Sept. 2, 2022. "The Hash" team discusses today's top stories including the fate of two crypto developer brothers who boosted their once-mighty stablecoin exchange Saber using a web of secret identities. Plus, Coinbase users in the Eastern European country of Georgia were able to exploit a price bug that allowed them to cash out their holdings for 100 times the exchange rate. See also:Crypto Developer Brothers Leave VC Firm After CoinDesk Exposé Coinbase Mispricing Allows Users in Georgia to Cash Out for 100 Times Rate - I.D.E.A.S. 2022 by CoinDesk facilitates capital flow and market growth by connecting the digital economy with traditional finance through the presenter’s mainstage, capital allocation meeting rooms and sponsor expo floor. Use code HASH20 for 20% off the General Pass. Register now: coindesk.com/ideas - This episode has been edited by Michele Musso. Our executive producer is Jared Schwartz. Our theme song is “Neon Beach.” See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:00.0	This is the hash podcast.
0:09.7	Stay informed with the latest on Bitcoin, ETH, the Metaverse, Web3, and more with stories that matter to the crypto world.
0:17.0	All on the hash for your ears.
0:20.5	You're listening to the Coin Desk Podcast Network.
0:25.7	Happy Friday, Hash Friends.
0:28.6	You are watching us on Coin Desk TV.
0:31.3	We got the head sway going for the people who are listening on the Coin Desk Podcast Network.
0:37.0	I'm Jensenassie, Zach Seward, and Will Foxley are
0:40.6	here as always. And we're going to chat through some fun stories today. Zach, what do you
0:46.9	got? This one's not so fun. It's a little bit wild, but let's get into it. Hey, journalistic impact.
0:53.9	It's fun.
0:54.6	I don't know what you're talking about.
0:55.9	So this story is about the McAulina brothers, prominent developers in the Salana space
1:01.5	who were revealed not long ago to have something like 11 or 12 assumed identities
1:07.4	who are also doing projects on Solana in what sure looked like a scheme to
1:12.6	boost the appearance of activity in the Solana Defi ecosystem. So they had a VC firm. It looks
1:19.5	like the VC firm has severed ties with Ian and Dylan. That is the news that was shared
1:25.8	yesterday on the heels of this big report from Danny Nelson
1:29.7	and Tracy Wong just some weeks ago. So the big question here is anonymity versus deception
1:36.4	versus whatever. Reputation is still a foundation of the crypto economy. And when you run a foul
1:43.7	of some people, repercussions happen.
1:46.7	I think that's what's happening here. And I think there are some interesting conversations around
	...

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