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ETH Surges, Wall Street Moves In, and Stablecoin Giants Face Off
Don't miss this week's content!
Juan Aranovich
August 16, 2025
Good Saturday! Before we begin, let me tell you something:
🚀 Bits + Bips is spinning off!
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Now, here’s what we unpacked on the pod this week:
💼 Digital Asset Treasuries (DATs) – Are altcoin treasuries real or just hype? With Guy Young and Rob Hadick
🏦 Stablecoin Wars Heat Up – Stripe, Circle, and the banks want in. But who actually wins?
📈 ETH on Fire – Is the rally about flows, the Fed, or something deeper?
🔪 The Chopping Block – Corpo chains, Monero’s AI attack, and whether DAT mania is only just starting
Which Types of Crypto Assets Make for Good Treasury Companies?
Altcoin DATs are heating up. Are they the next wave of crypto capital markets or just a gimmick?
In this episode of Unchained, Guy Young, founder of Ethena Labs, and Rob Hadick, general partner at Dragonfly, unpack the emerging wave of Digital Asset Treasuries (DATs) and why altcoins may be the next to follow Bitcoin and Ethereum onto public markets.
They explain why StablecoinX, a new infrastructure company within the Ethena ecosystem, is merging with a SPAC to go public on Nasdaq under the ticker “USDE,” anchoring its treasury with Ethena’s ENA token.
With $360 million in backing from investors like Dragonfly, Ribbit, Galaxy, and Polychain, the deal is testing whether public equity markets are ready for altcoin-native treasuries.
Guy and Rob also discuss why some crypto wrapper stocks are trading at massive premiums, how capital gets misallocated in crypto, and whether ETH staking rewards represent real yield or just inflation.
They debate whether this trend is creating lasting infrastructure or just new packaging for old narratives.
Listen to the episode on Apple Podcasts, Spotify, Pods, Fountain, Podcast Addict, Pocket Casts, Amazon Music, or on your favorite podcast platform.
Crypto Firms, Fintechs and Banks Hope to Dominate Stablecoins. Who Will Win?
With Stripe and Circle launching layer 1s, the stablecoin wars are here. But the winners might not be very decentralized or censorship-resistant.
Stablecoin-focused blockchains are popping up everywhere. Stripe, Circle, and more are betting they can dominate payments. But are these chains even needed? And will Ethereum ever be ready for real-world assets?
Austin Campbell, NYU professor and founder of Zero Knowledge Consulting, joins Unchained to cut through the hype. From why “the market eventually eats you” to how consumers, not companies, could be the real winners, Campbell unpacks the competitive landscape and warns that the ultimate champion might be someone who isn’t even on the field today.
Listen to the episode on Apple Podcasts, Spotify, Pods, Fountain, Podcast Addict, Pocket Casts, Amazon Music, or on your favorite podcast platform.
Bits + Bips: Why ETH Is Soaring and How Long The Rally Can Continue
Also, are traders mispricing the next Fed move?
Ethereum’s rally has captivated the market, but is it really about the GENIUS Act and stablecoins, or just raw flows?
In this episode of Bits + Bips, Alex Kruger, Ram Ahluwalia, Steven Ehrlich, and special guest Sid Powell of Maple Finance, dive deep into what’s driving ETH, the macro forces shaping crypto’s next leg up, and whether traders are completely wrong about the Fed’s next moves.
From the potential flood of TradFi capital onto the blockchain, to the battle for stablecoin dominance, to whether Solana is about to get a major boost, the conversation dissects the signals in today’s market.
Listen to the episode on Apple Podcasts, Spotify, Pods, Fountain, Podcast Addict, Pocket Casts, Amazon Music, or on your favorite podcast platform.
The Chopping Block: Corpo Chains, Monero’s AI Vampire Attack, and DAT Mania
Circle & Stripe Launch Corpo Chains, Monero Hit by AI-Powered 51% Attack, and DAT Mania Heats Up
Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest in crypto. In this episode, the crew dives into the surprising altcoin rally and asks whether ETH still counts as an alt. The big news: Circle unveils Arc, Stripe leaks Tempo — and crypto Twitter is not impressed. We explore why major fintechs are launching their own chains instead of using Ethereum L2s, and whether stablecoin-centric blockchains are the future or just profit grabs.
Then: the wildest headline of the week — Monero gets hit with a 51% attack by Qubic, a project training an AI called “Garth,” in what might be the largest attack of its kind. We break down the game theory, the proof-of-work vs. proof-of-stake debate, and what this foreshadows for Bitcoin’s security decades from now.
Also: Trump’s executive order opens the door for crypto in 401(k) plans, we speculate about a future GPU debt market crisis, and dissect the state of play in Digital Asset Treasuries (DATs) — including whether yield advantages over staking ETFs mean we’re only halfway to mania.
Listen to the episode on Apple Podcasts, Spotify, Pods, Fountain, Podcast Addict, Pocket Casts, Amazon Music, or on your favorite podcast platform.
In Case You Missed It 👀
DeFi is surging across the board, but some unloved tokens have not shared in the gains. Here’s why that could change.
With the GENIUS Act passed, stablecoins are set to surge — and major issuers now aim to run their own layer 1 blockchains, not just build on others. If they win, someone has to lose.
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