Author: CoinDesk

Crypto creates an “incentive vortex” that is destined to take over everything, according to the investment firm’s founder and CIO.

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Polychain Capital founder and CIO Olaf Carlson-Wee has been through every single bubble in crypto history, from Bitcoin’s rise past the single digits in 2012 to the ICO craze of 2017 to 2021’s NFT mania, and he says his main thesis about crypto has remained consistent since the beginning. That is, that crypto constitutes an “incentive vortex” that will replace the world’s preoccupation with country-backed currencies. 

Carlson-Wee, who was the first employee at Coinbase, joins Unchained to discuss the significance of the launch of spot Bitcoin ETFs, how he successfully navigated all the industry blow-ups in 2022, the challenges of balancing incentives for early adopters versus new users, why EigenLayer is so significant, why Worldcoin’s distribution strategy is a “disaster,” and the strange places that the intersection between crypto and AI could take us. 

Show highlights:

• Why Olaf sees the current market as the cusp of another bull run and how his thesis has remained consistent since 2011​​
• How the launch of spot Bitcoin ETFs marks a significant milestone 
• Why criticisms of the crypto space are really criticisms of money in general 
• The fundamental differences between Web3 applications and the Web2 ecosystem and why they matter
• The importance of fair token distribution in enhancing the value of Web3 projects
• When Olaf expects Bitcoin to replace legacy financial systems
• The areas and technologies Olaf and his fund are keen to invest in
• Why Olaf thinks a modular blockchain architecture is superior to a monolithic one in the long term
• How EigenLayer is innovating to enable new types of applications and whether it competes with Celestia
• How Polychain managed to avoid being hurt by the major market blowups of 2022, including Terra and FTX
• The evolution of the space from an ideologically driven to a more pragmatic approach
• The significance of incentive design in crypto ecosystems and the trade-offs involved in system design
• Olaf’s perspective on the recent rise of points systems
• The growth of privacy-focused crypto projects and the potential for private blockchains to become the norm
• Why he thinks Worldcoin’s distribution strategy is a “disaster”
• Olaf’s interest in the intersection of AI and crypto and potential developments in this area
• His bullish outlook on SocialFi and Web3 gaming

Thank you to our sponsors!  Popcorn Network

Guest:

Olaf Carlson-Wee, founder and CIO of Polychain Capital

Previous appearances on Unchained:

Olaf Carlson-Wee: 'If There Is a Money-Losing Exploit, the Money Is Gone' 

Why The First Employee Of Coinbase Launched A Hedge Fund

To the Moon and Back With Polychain's Olaf Carlson-Wee

Special Episode with CNBC's Crypto Trader: Olaf Carlson-Wee on Why This Crypto Winter Is Different From Previous Ones

All Things Cryptoeconomics, Pt. 1, With Olaf Carlson-Wee and Ryan Zurrer of Polychain Capital

Links:

Olaf Carlson-Wee

Forbes: 

This Man Has Been Living On Bitcoin For 3 Years

Why This Hedge Fund CEO Once 'Put Most Of My Meager Life Savings Into Bitcoin'

TechCrunch: The future is a decentralized internet

Blockworks: Why Polychain Capital Founder Never Sells His Crypto 

CoinDesk: Olaf Carlson-Wee: Crypto Is the Great Wealth-Redistribution Machine

Restaking/EigenLayer

Unchained: 

DeFi Protocol EigenLayer Reaches Restaking Capacity, Pushing TVL Past $1.4 Billion

Do You Need to Think Twice Before Restaking Your Assets? 

Olaf’s tweet on EigenLayer

Crypto + AI

Olaf’s tweet: “in crypto nearly 100% of value accrues to start-ups and outsiders, not existing establishment interests”

The crypto ethos

Episode of The Chopping Block where Haseeb Qureshi talks about Justin Sun

Recent investments from Polychain Capital

CoinDesk: Crypto VC Firm Polychain Capital Raises $200M for Fourth Fund: Fortune (Jul 18, 2023)

Polychain Capital and Hack VC Lead $18 Million Funding Round for Bitcoin Staking Protocol Babylon

The Block: Polychain Capital-backed Bioniq to leverage Internet Computer with new Bitcoin Ordinals marketplace

Fortune: Polychain Capital among group betting $20 million that first-person shooter ‘Shrapnel’ can succeed where other Web3 games have failed,

CreateSafe, the company behind Grimes AI, raises $4.6m in seed round

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Unchained Podcast is Produced by Laura Shin Media, LLC.  Distributed by CoinDesk. Senior Producer is Michele Musso and Executive Producer is Jared Schwartz. 

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

After investors "sold the news" of the launch of bitcoin ETFs, market watchers are looking for the next event that could drive market prices.

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For today's episode, host Jennifer Sanasie reads a piece from CoinDesk's Daniel Kuhn, titled "Will the Next Bitcoin Halving Be Another Hype Cycle?"

This episode was hosted by Jennifer Sanasie. “Markets Daily” is executive produced by Jared Schwartz and produced and edited by Eleanor Pahl, alongside Senior Booking Producer Melissa Montañez. All original music by Doc Blust and Colin Mealey.

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The latest price moves and insights with Jennifer Sanasie, featuring guests Marcin Kaźmierczak, cofounder of RedStone, and Alex Felix, managing partner and chief investment officer at CoinFund.

To get the show every day, follow the podcast here.

Today's "Markets Daily" starts with a minute of markets updates, followed by two deep dives into crypto sectors listeners might not be as familiar with. First, RedStone Cofounder Marcin Kaźmierczak explains what's trending in the world of DeFi, including real-world assets (RWAs) and liquid staking and yield generation, also known as LSD-Fi. Next, CoinFund Chief Investment Officer Alex Felix dives into the Web3 corner of crypto, recapping key infrastructure improvements that might propel the adoption of Web3 technologies in 2024.

Note: At 0:58, “Below $38k” was mistakenly read instead of “Below $39k.”

This episode was hosted by Jennifer Sanasie. “Markets Daily” is executive produced by Jared Schwartz and produced and edited by Eleanor Pahl, alongside Senior Booking Producer Melissa Montañez. All original music by Doc Blust and Colin Mealey.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

You can mine Bitcoin at home, you just have to have the right device.

Follow along on your favorite podcast player of choice by clicking here.

Ever wanted to mine Bitcoin at home? Well, you can with FutureBit! Founder and CEO John Stefanopoulos joins us to talk about how to mine Bitcoin at home and why it's important for network decentralization.

Published twice weekly, "The Mining Pod" interviews the best builders and operators in the Bitcoin and Bitcoin mining landscape. Subscribe to get notifications when we publish interviews Tuesday and a news show on Friday! 

Check out our other shows and content by going to Blockspace.media today.

Follow our host on Twitter, @wsfoxley.

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Thank you to our sponsor, CleanSpark, America’s Bitcoin miner!

"The Mining Pod" is produced by Sunnyside Honey LLC and distributed by CoinDesk. Senior Producer is Damien Somerset.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

With Avery back in action, she and Sam get into the latest news and updates like Snoop and Solo Stove and celebrity CMOs in this episode of “Gen C.”

Avery shares her experience attending CES, the Consumer Electronics Show, and the key trends and technology that stood out. They also analyze the massive growth of Roblox's user base and discuss how and when the platform should monetize its audience. Other topics include Forbes utilizing connected wallets for subscriber acquisition and the implications of AI in content production and e-commerce.

Links mentioned from the podcast: 

• Inside Solo Stove’s Viral Snoop Dogg Partnership—And How It Almost Didn’t Happen
• Roblox Monthly Active Users tweet
• Forbes Makes Premium Content Free For Web3 Community Via Digital Wallet Connect
• Vayner Morning Brew tweet

Follow us on Twitter: 

• Sam Ewen, Avery Akkineni, CoinDesk, Vayner3

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"Gen C" features hosts Sam Ewen and Avery Akkineni. Executive produced by Jared Schwartz and produced by Uyen Truong, with additional production assistance from Eleanor Pahl. Our theme music is "1882” by omgkirby x Channel Tres with editing by Doc Blust. Artwork by Nicole Marie Rincon.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The latest price moves and insights with Jennifer Sanasie and guest Leo Mizuhara, CEO of Hashnote.

To get the show every day, follow the podcast here.

Today's episode of "Markets Daily" begins with a minute of markets updates, followed by an interview with host Jennifer Sanasie and Leo Mizuhara, CEO of Hashnote on layer 2s to watch, the ongoing Coinbase versus SEC case and the resurgence of the Solana ecosystem.

This episode was hosted by Jennifer Sanasie. “Markets Daily” is executive produced by Jared Schwartz and produced and edited by Eleanor Pahl, alongside Senior Booking Producer Melissa Montañez. All original music by Doc Blust and Colin Mealey.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Attorney Sam Enzer explains how the case that’s currently being heard could impact the SEC's entire enforcement regime against crypto.

Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.

On Wednesday, a federal court in New York heard oral arguments in Coinbase’s motion to dismiss the SEC’s case against it for, among other things, allegedly acting as an unregulated securities exchange. Notably, Judge Katherine Polk Failla pressed the SEC to explain how it has jurisdiction over Coinbase in the case by defining what it considers a security. 

Sam Enzer, a partner at Cahill Gorden & Reindel who represents Coinbase but not in this matter, joined Unchained to discuss why this case is so significant for the crypto industry, how he believes the government contradicted itself on the crucial definition of what constitutes a security, why he thinks the judge will not dismiss the case at this early stage, how the Ripple and Terraform Labs cases could be used by each side, and why he thinks Judge Failla is such a perfect choice to rule in this case.  

Show highlights:

• Why SEC v Coinbase holds important implications for the U.S. crypto ecosystem
• What the SEC alleges against Coinbase, focusing on its trading platform, wallet, and staking services
• How Coinbase forcefully counters the SEC's claims as it strives to get the case dismissed
• What the “major questions doctrine” entails and its critical role in this dispute
• Why Sam perceives the judge as “extremely skeptical” of the SEC's stance
• Whether inconsistencies surfaced in the SEC lawyers' arguments
• What “strict liability” means and its frequent mention in this legal battle
• What takeaways from the Ripple and Terraform Labs cases offer about secondary market sales
• Why Sam believes Judge Katherine Polk Failla is exceptionally well-suited for this case
• Whether Judge Failla might reject the motion to dismiss, and when 

Thank you to our sponsors!  Popcorn Network  |  iTrustCapital

Guest

Sam Enzer, partner at Cahill Gordon & Reindel

Previous appearances on Unchained: 

Why SBF's Testimony So Far Has Likely Already Doomed Him

Another Bad Week for Sam Bankman-Fried in His Criminal Trial

Why These Lawyers Say It's Over for SBF-But His Only Hail Mary Is to Testify

SBF Trial: How Sam Bankman-Fried’s Lawyers Might Try and Win His Case

SBF’s Lawyers Could Be Annoying the Judge How Might That Impact the Trial?

Links

Previous coverage of Unchained on the Coinbase case and the topic of securities:

SEC Sues Binance, Coinbase: ‘This Is Not the End of Crypto in the United States’ 

These 2 Crypto Trading Platforms Agree With SEC Chair Gary Gensler

Coinbase’s Legal Action Against the SEC: How It Will Likely Unfold 

‘Is ETH a Security?’ Why Gary Gensler Couldn’t Give Congress a Straight Answer

Gary Gensler vs. Crypto: What Will the SEC Attack Next?

Rep. Emmer on Why He Believes Gary Gensler Is a ‘Bad-Faith Regulator’

Coinbase vs. SEC

Unchained: 

Federal Judge Presses SEC Over Jurisdiction in Case Against Coinbase

SEC Sues Coinbase for Breaking Securities Laws

SEC Files Motion to Freeze Binance’s Assets, Asks for ‘Sworn Accounting’

SEC Files 13 Charges Against Binance Including the Mishandling of Funds, Sale of Unregistered Securities

SEC Calls Solana, Polygon, Algorand and Other Tokens Securities but Misses Ether in Binance Lawsuit

Cointelegraph: Senator Lummis files amicus brief supporting Coinbase’s dismissal motion against SEC.

Other cases

Kraken

CNBC:Crypto exchange Kraken settles with SEC for $30 million, will close US staking operation

XRP

Unchained: SEC vs Ripple: Judge Rules XRP Sold on Exchanges Is Not a Security

Terraform Labs

Reuters: Judge sides with US SEC, says Terraform Labs crypto founder Do Kwon violated law

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Unchained Podcast is Produced by Laura Shin Media, LLC.  Distributed by CoinDesk. Senior Producer is Michele Musso and Executive Producer is Jared Schwartz. 

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

CoinDesk Indices presents notable data insights from the week, followed by additional analysis from an industry expert.

To get the show every day, follow the podcast here.

The CoinDesk Market Index (CMI) functions as a benchmark for the performance of the digital asset market, delivering institutional quality information to digital asset investors. Subsets of the CoinDesk Market Index (CMI) are investible CoinDesk Crypto Sectors and the CoinDesk 20 Index, designed to measure the performance of the top digital assets. Today’s takeaways are provided by Pallavi Chintam and Max Good of CoinDesk Indices with additional analysis from Gorast Tasevski, product analyst of Purpose Investments. For more on CoinDesk Indices, visit: coindeskmarkets.com.

This episode was hosted by Jennifer Sanasie. “Markets Daily” is executive produced by Jared Schwartz and produced and edited by Eleanor Pahl, alongside Senior Booking Producer Melissa Montañez. All original music by Doc Blust and Colin Mealey.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Dencun upgrade on Ethereum aims to cut layer two transaction costs and decrease data storage expenses, while Metamask's intent-based system seeks to improve efficiency…Plus Insights from Telos Foundation's New Executive Director!"

This episode is sponsored by the Stellar Community Fund

Follow the show here for more.

In this installment of "The Protocol," hosts Brad Keoun, the founding editor of The Protocol Newsletter, and tech journalists Sam Kessler and Margaux Nijkerk,  explore the following stories:

Dencun Upgrade Goes Live on Ethereum’s Goerli Test-Net 

Developers said the missed finalization was likely due to an expected lack of participation and older network validators.

MetaMask's New Transaction Routing System

MetaMask is quietly testing new tech that uses third parties to route user transactions. It will eventually be made available outside of MetaMask and will be closely scrutinized for how it manages to avoid centralization concerns.

PROTOCOL VILLAGE INTERVIEW SEGMENT  

Guest:  John Lilic - Executive Director at the Telos Foundation

Within this dialogue, John Lilic delves into his blockchain background and the transition from Ethereum to Telos. He underscores Telos' standout features—high throughput and cost-effective transactions—casting it as a formidable contender among Layer 2 solutions like Polygon. John envisions Telos as a global US dollar settlement layer, especially impactful in developing nations. Detailing Telos' strategy, he highlights a focus on Asia, developer engagement, and strategic partnerships to broaden its influence. Despite visibility challenges, John remains confident in Telos' potential and the inherent value it brings to users.

EPISODE LINKS |  

Ethereum’s Dencun Upgrade Goes Live, Devs Wait for Finalization on Testnet 

MetaMask's Secret Project Could Shake Up How Ethereum Works 

John Lilic Joins the Telos Foundation as Executive Director 

Telos Blockchain 

John Lilic

 

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From Our Sponsor: 

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Apply for Funding at communityfund.stellar.org

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The Protocol has been produced and edited by senior producer Michele Musso and our executive producer is Jared Schwartz. Our theme song is “Take Me Back” by Strength To Last.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The latest price moves and insights with Jennifer Sanasie and guest Andy Baehr, managing director of CoinDesk Indices.

To get the show every day, follow the podcast here.

On "Markets Daily," host Jennifer Sanasie speaks with Andy Baehr, managing director of CoinDesk Indices, about the "season finale" of crypto winter and the recent launch of the CoinDesk 20 Index.

This episode was hosted by Jennifer Sanasie. “Markets Daily” is executive produced by Jared Schwartz and produced and edited by Eleanor Pahl, alongside Senior Booking Producer Melissa Montañez. All original music by Doc Blust and Colin Mealey.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.