Author: CoinDesk

Cosmos faces internal leadership challenges, with its founder advocating for a 'hard fork.' Concurrently, the Ethereum Name Service founder contemplates challenging Unstoppable Domains in light of its recently approved patent. Meanwhile, concerns arise about a potential Blast 'backlash,' leaving investors unsettled by recent developments in the crypto landscape.

This episode is sponsored by Consensus 2024 

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:

• Cosmos - Cosmos' founder Jae Kwon favors splitting the blockchain into two

Cosmos Hub is an intermediary among all independent blockchains created within the Cosmos network. ATOM powers the Cosmos ecosystem of blockchains programmed to scale and interoperate with each other.

• Ethereum Name Service (ENS), in an intellectual-property dispute with rival Unstoppable Domains.

ENS Founder Nick Johnson told CoinDesk he’s unhappy with Unstoppable Domains's patenting of work that he claims he produced and published earlier.

PROTOCOL VILLAGE SEGMENT  

• BLAST 

The idea of a yield-paying layer-2 blockchain atop Ethereum has demonstrated market allure. However, even the project's biggest investor has taken issue with the execution and marketing surrounding the initial rollout.

• And something hot off the presses - CELO 

With hot competition between layer-2 technology providers like Optimism, Polygon, and Matter Labs, Celo's choice is being closely watched by the blockchain industry.

EPISODE LINKS |  

Cosmos Founder Calls for Chain Split; ATOM Down 3%

'We Are Prepared to Go to the Mat:' ENS Founder on Patent Dispute With Unstoppable

Celo Developer Proposes Mid-January Timeline for Evaluating Closely Watched Layer-2 Move

Blast's One-Week, $600M Haul Shows Promise of Yield, Pitfalls of Hype

Sign Up for THE PROTOCOL NEWSLETTER 

From Our Sponsor: 

CONSENSUS 2024 by Coindesk 

Secure your $109 Developer Pass today and join us in Austin May 29-31 to explore the epicenter of blockchain innovation at Consensus. This is where the top blockchains show off their latest advancements, share their detailed roadmaps, dive deep with technical workshops and forecast the next wave of innovation. Don’t wait! These passes are limited. Learn more and register: https://consensus.coindesk.com/register/developer/

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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.

Noelle Acheson, the mind behind the Crypto Is Macro Now newsletter, explores signals in the U.S. economy, regulatory overreach, market moves and more.

Today's episode is sponsored by CME Group and PayPal.

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

Today’s Stories:

U.S. Treasury Campaigning for Amplified Powers to Chase Crypto Overseas 

China Investment Bank Bans Bearish Research, Wealth Displays - Bloomberg 

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From our sponsors:

CME Group Cryptocurrency futures and options provide market-leading liquidity for bitcoin and ether trading. These cash-settled contracts give full exposure to crypto performance without the hassle of holding the physical position. No digital wallet? No problem. Trade nearly 24/7 in a transparent, CFTC-regulated market. Visit cmegroup.com/crypto to learn more.

Disclaimer:

This communication is not directed to investors located in any particular jurisdiction and is not intended to be accessed by recipients based in jurisdictions in which distribution is not permitted. The information herein should not be considered investment advice or the results of actual market experience. Past results are not necessarily indicative of future performance. Trading derivatives products involves the risk of loss. Please consider carefully whether futures or options are appropriate to your financial situation.

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PYUSD, a stablecoin made for Payments. 1USD = 1PYUSD.

Introducing PayPal’s new digital currency, PayPal USD (PYUSD), a stablecoin backed by U.S. dollar deposits, U.S. Treasuries and similar cash equivalents. Buy, sell, hold and transfer it in our app or site and explore Web3 with a payments brand that has been trusted for over 20 years.

Get started now at paypal.com/pyusd.

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This episode was hosted by Noelle Acheson. “Markets Daily” is executive produced by Jared Schwartz and produced and edited by Eleanor Pahl. 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.

Danny Nelson describes his recent scoop where he learned that Polygon quietly gave DraftKings preferential treatment while telling the public it was an "equal" member of the validator community.

On "Carpe Consensus," hosts Ben Schiller and Danny Nelson take a deep dive into a recent scoop of Danny's, involving layer 2 blockchain Polygon and sports betting company DraftKings.

• [1:04] Inside the Desk: When Polygon announced DraftKings would be joining its validator community, it failed to disclose the financial incentives lurking in the background of the deal. Read Danny's full piece on CoinDesk: "​​Polygon's Secret Deal: Sending DraftKings Millions to Run Failed Validator."
• [17:09] Ben previews CoinDesk's Most Influential 2023, releasing Dec. 4.

“Carpe Consensus” is executive produced by Jared Schwartz and produced and edited by Eleanor Pahl.

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

Noelle Acheson, the mind behind the Crypto Is Macro Now newsletter, explores bitcoin above $38,000, rates expectations, U.S. SEC influence and more.

Today's episode is sponsored by CME Group and PayPal.

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

Today’s Stories:

Solana Leads Layer-1 Token Gains as Bitcoin Crosses $38K  

Kaiko Data Debrief 

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From our sponsors:

CME Group Cryptocurrency futures and options provide market-leading liquidity for bitcoin and ether trading. These cash-settled contracts give full exposure to crypto performance without the hassle of holding the physical position. No digital wallet? No problem. Trade nearly 24/7 in a transparent, CFTC-regulated market. Visit cmegroup.com/crypto to learn more.

Disclaimer:

This communication is not directed to investors located in any particular jurisdiction and is not intended to be accessed by recipients based in jurisdictions in which distribution is not permitted. The information herein should not be considered investment advice or the results of actual market experience. Past results are not necessarily indicative of future performance. Trading derivatives products involves the risk of loss. Please consider carefully whether futures or options are appropriate to your financial situation.

-

PYUSD, a stablecoin made for Payments. 1USD = 1PYUSD.

Introducing PayPal’s new digital currency, PayPal USD (PYUSD), a stablecoin backed by U.S. dollar deposits, U.S. Treasuries and similar cash equivalents. Buy, sell, hold and transfer it in our app or site and explore Web3 with a payments brand that has been trusted for over 20 years.

Get started now at paypal.com/pyusd.

-

This episode was hosted by Noelle Acheson. “Markets Daily” is executive produced by Jared Schwartz and produced and edited by Eleanor Pahl. 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.

A pair of crypto industry tax experts describe the problems with the tax agency’s new reporting proposals and suggest alternatives.  

The IRS sparked a storm of controversy when it released proposed new rules for crypto transaction reporting earlier this year. The new rules seek to define who is considered a broker, what types of transactions need to get reported, and the kinds of digital assets that need to be included, but many in the industry consider them overly broad and ultimately unworkable. 

Lawrence Zlatkin, VP of Tax at Coinbase, and Shehan Chandrasekera, Head of Tax Strategy at tax software firm CoinTracker, discuss the crypto industry’s specific objections to the proposed new rules, and what might be a better way forward. They also delve into how the regulations would apply to stablecoins and NFTs, potential blockchain-based solutions for the reporting requirements, and what the likely outlook and timeline for the proposals to come into effect are.  

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

Show highlights |  

• What the newly proposed IRS regulations around crypto are and when they are likely to go into effect
• What entities qualify as a broker and why this may pose a problem
• What the implications for the industry are if these regulations were passed
• The number of additional reports the IRS is expecting to receive if these regulations are adopted
• How the regulations would apply to stablecoins and NFTs
• What the five types of brokers are under the proposed regulations and the three types that they exclude, according to Shehan
• The unprecedented amount of comments submitted
• What suggestions Coinbase and CoinTracker have in mind for better tax regulation
• Why Lawrence thinks that DeFi exchanges should be treated the same as centralized ones
• Whether people should have privacy concerns about the new proposals
• What some blockchain-based solutions for tax reporting, such as attestation tokens
• What are the next steps for the IRS's proposed regulation are
• How long it will take to actually implement these regulations

Thank you to our sponsors!  LayerZero | Popcorn Network

Guests | 

Shehan Chandrasekera, Head of Tax Strategy at CoinTracker

Lawrence Zlatkin, VP of Tax at Coinbase

Links |  

Previous coverage of Unchained on crypto taxes, with appearances from Shehan and Lawrence:

Everything You Need to Know About Filing Your 2022 Crypto Taxes

Your 2021 Crypto Taxes: How to Handle NFTs, DAOs, Airdrops and More

Everything You Need to Know About Your 2020 Crypto Taxes 

Why You Shouldn’t Trust Crypto Exchange Reports for Your Taxes

The IRS Is Cracking Down on Crypto Taxes: What You Need to Know 

Could the Bank Secrecy Act Harm Crypto? Coin Center Thinks So

Infrastructure Investment and Jobs Act (117th Congress)

Proposed rule:

IRS proposed rule text: Gross Proceeds and Basis Reporting by Brokers and Determination of Amount Realized and Basis for Digital Asset Transactions

U.S. Department of the Treasury, IRS Release Proposed Regulations on Sales and Exchanges of Digital Assets by Brokers

CoinDesk: How the Crypto Industry Responded to the IRS Proposed Broker Rule

Twitter thread from Ji Kim of the Crypto Council for Innovation 

CNBC: President Joe Biden to sign the bipartisan infrastructure bill⁠ into law—here's how crypto investors will be impacted

IRS issues guidance, seeks comments on nonfungible tokens

Coinbase first comment letter

Coinbase second comment letter

CoinTracker comment letter

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.

Noelle Acheson, the mind behind the Crypto Is Macro Now newsletter, explores market moves, inflation, the Binance settlement and more.

Today's episode is sponsored by CME Group and PayPal.

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

Today’s Stories:

Altcoin Rally Cools as Massive $650M Worth of Token Unlocks Loom Over Crypto Market 

Omid Malekan's Post 

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From our sponsors:

CME Group Cryptocurrency futures and options provide market-leading liquidity for bitcoin and ether trading. These cash-settled contracts give full exposure to crypto performance without the hassle of holding the physical position. No digital wallet? No problem. Trade nearly 24/7 in a transparent, CFTC-regulated market. Visit cmegroup.com/crypto to learn more.

Disclaimer:

This communication is not directed to investors located in any particular jurisdiction and is not intended to be accessed by recipients based in jurisdictions in which distribution is not permitted. The information herein should not be considered investment advice or the results of actual market experience. Past results are not necessarily indicative of future performance. Trading derivatives products involves the risk of loss. Please consider carefully whether futures or options are appropriate to your financial situation.

-

PYUSD, a stablecoin made for Payments. 1USD = 1PYUSD.

Introducing PayPal’s new digital currency, PayPal USD (PYUSD), a stablecoin backed by U.S. dollar deposits, U.S. Treasuries and similar cash equivalents. Buy, sell, hold and transfer it in our app or site and explore Web3 with a payments brand that has been trusted for over 20 years.

Get started now at paypal.com/pyusd.

-

This episode was hosted by Noelle Acheson. “Markets Daily” is executive produced by Jared Schwartz and produced and edited by Eleanor Pahl. 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.

This week, Avery and Sam unpack the OpenAI drama, then chat with Chris Duffey of Adobe on AI's impact on creativity and his view on Web3.

Today's episode is sponsored by Chainalysis.

In this episode, Avery and Sam interview Chris Duffey, who leads strategic development for Adobe’s Emerging Solutions. We discuss how Adobe is incorporating generative AI into their suite of creative tools including Photoshop, and Duffey's vision for bringing these emerging technologies to brands, creators and 3D worlds.

Links mentioned from the podcast: 

• Sam Altman to Return as OpenAI CEO Following In-Principle Agreement
• 'Oops, You Stepped Into the Future': Nike Drops Sneakers With NFTs
• Dunk Wars on Fortnite
• Chris on Twitter

Follow us on Twitter: 

• Sam Ewen, Avery Akkineni, CoinDesk, Vayner3

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From our sponsor:

Chainalysis is the blockchain data platform. We provide data, software, services, and research to government agencies, web3 companies, financial institutions, and insurance and cybersecurity companies. Our data powers investigation, compliance, and business intelligence software that has been used to solve some of the world’s most high-profile criminal cases. For more information, visit www.chainalysis.com.

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"Gen C" features hosts Sam Ewen and Avery Akkineni, with editing by Jonas Huck. Executive produced by Jared Schwartz and produced by Uyen Truong. 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.

Noelle Acheson, the mind behind the Crypto Is Macro Now newsletter, explores market moves, Black Friday, banks moving into crypto and more.

Today's episode is sponsored by CME Group and PayPal.

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

Today’s Stories:

Bitpanda and Raiffeisen Unit Agree to Offer Crypto for Banking Customers 

St.Galler Kantonalbank Works With SEBA Bank to Offer Swiss Customers Bitcoin, Ethereum 

Santander Private Bank Introduces Bitcoin, Ethereum Trading for Clients in Switzerland 

K-Bank Buys Majority Stake in Thai Crypto Exchange Satang for $103M 

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From our sponsors:

CME Group Cryptocurrency futures and options provide market-leading liquidity for bitcoin and ether trading. These cash-settled contracts give full exposure to crypto performance without the hassle of holding the physical position. No digital wallet? No problem. Trade nearly 24/7 in a transparent, CFTC-regulated market. Visit cmegroup.com/crypto to learn more.

Disclaimer:

This communication is not directed to investors located in any particular jurisdiction and is not intended to be accessed by recipients based in jurisdictions in which distribution is not permitted. The information herein should not be considered investment advice or the results of actual market experience. Past results are not necessarily indicative of future performance. Trading derivatives products involves the risk of loss. Please consider carefully whether futures or options are appropriate to your financial situation.

-

PYUSD, a stablecoin made for Payments. 1USD = 1PYUSD.

Introducing PayPal’s new digital currency, PayPal USD (PYUSD), a stablecoin backed by U.S. dollar deposits, U.S. Treasuries and similar cash equivalents. Buy, sell, hold and transfer it in our app or site and explore Web3 with a payments brand that has been trusted for over 20 years.

Get started now at paypal.com/pyusd.

-

This episode was hosted by Noelle Acheson. “Markets Daily” is executive produced by Jared Schwartz and produced and edited by Eleanor Pahl. 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.

When supposedly safe investments like bonds and stocks underperform, what does that mean for our view of apparently risky investments like bitcoin? Noelle Acheson offers her thoughts.

Today's episode is sponsored by CME Group and PayPal.

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

For today’s featured story, Noelle Acheson reads her piece written for CoinDesk, titled: “Bitcoin and the Changing Definition of 'Safety'”

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From our sponsors:

CME Group Cryptocurrency futures and options provide market-leading liquidity for bitcoin and ether trading. These cash-settled contracts give full exposure to crypto performance without the hassle of holding the physical position. No digital wallet? No problem. Trade nearly 24/7 in a transparent, CFTC-regulated market. Visit cmegroup.com/crypto to learn more.

Disclaimer:

This communication is not directed to investors located in any particular jurisdiction and is not intended to be accessed by recipients based in jurisdictions in which distribution is not permitted. The information herein should not be considered investment advice or the results of actual market experience. Past results are not necessarily indicative of future performance. Trading derivatives products involves the risk of loss. Please consider carefully whether futures or options are appropriate to your financial situation.

-

PYUSD, a stablecoin made for Payments. 1USD = 1PYUSD.

Introducing PayPal’s new digital currency, PayPal USD (PYUSD), a stablecoin backed by U.S. dollar deposits, U.S. Treasuries and similar cash equivalents. Buy, sell, hold and transfer it in our app or site and explore Web3 with a payments brand that has been trusted for over 20 years.

Get started now at paypal.com/pyusd.

-

This episode was hosted by Noelle Acheson. “Markets Daily” is executive produced by Jared Schwartz and produced and edited by Eleanor Pahl. 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.

CoinDesk Indices presents six notable market movement highlights from last week.

Today's episode is sponsored by CME Group and PayPal.

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. Today’s takeaways are provided by Tracy Stephens, senior index manager of CoinDesk Indices with additional analysis from Greg Magadini, director of derivatives at Amberdata. For more on the CMI you can visit: http://coindeskmarkets.com/.

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From our sponsors:

CME Group Cryptocurrency futures and options provide market-leading liquidity for bitcoin and ether trading. These cash-settled contracts give full exposure to crypto performance without the hassle of holding the physical position. No digital wallet? No problem. Trade nearly 24/7 in a transparent, CFTC-regulated market. Visit cmegroup.com/crypto to learn more.

Disclaimer:

This communication is not directed to investors located in any particular jurisdiction and is not intended to be accessed by recipients based in jurisdictions in which distribution is not permitted. The information herein should not be considered investment advice or the results of actual market experience. Past results are not necessarily indicative of future performance. Trading derivatives products involves the risk of loss. Please consider carefully whether futures or options are appropriate to your financial situation.

-

PYUSD, a stablecoin made for Payments. 1USD = 1PYUSD.

Introducing PayPal’s new digital currency, PayPal USD (PYUSD), a stablecoin backed by U.S. dollar deposits, U.S. Treasuries and similar cash equivalents. Buy, sell, hold and transfer it in our app or site and explore Web3 with a payments brand that has been trusted for over 20 years.

Get started now at paypal.com/pyusd.

-

This episode was hosted by Noelle Acheson. “Markets Daily” is executive produced by Jared Schwartz and produced and edited by Eleanor Pahl. 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.