This Week on Unchained: DeFi on Base, DATs, 4-Year Cycle, and More!

Good Saturday! Before we begin, let me tell you something:

Bits + Bips is going solo!

In only a few weeks, our macro-meets-crypto series will live on its very own podcast + YouTube channels. Hit follow/subscribe so market swings never catch you off guard →

• 🐦 X / Twitter, where the Bits + Bips intern is cooking

• 📺 YouTube 

• 🎧 Podcast → Apple Podcasts, Spotify, Pocket Casts, Fountain

Now, here’s what we unpacked this week:

• 🏦 Builders Bet on Base – Why two DeFi teams are going all-in on Coinbase’s L2.

• 📉 Is the Four-Year Cycle Dead? – VCs debate ETH’s comeback, SOL’s moment, and Hyperliquid vs Binance.

• 🔥 The Chopping Block: DAT Consolidation & Token Wrappers – Tom Lee’s big ETH bet, tokenized stocks, and crypto’s next M&A wave.

• 🌾 How DATs Are Juicing Yields – Our deep dive into the crowded treasury boom and its hidden risks.

Why These DeFi Builders Are Betting It All on Coinbase’s L2, Base

This next phase of crypto adoption is about distribution. Here’s how Base DeFi builders are preparing to handle Coinbase’s more than 100 million users.

Coinbase’s L2 Base is quickly becoming a powerful distribution funnel in crypto — and two builders are betting everything on it. 

In this episode, Aerodrome’s Alex Cutler and Moonwell’s Luke Youngblood explain why they aligned early with Base, how Coinbase’s strategy could transform token launches by offering “one-click distribution” to 100M+ users, and why they believe Coinbase is set to become the world’s largest “crypto bank.” 

They also debate whether exchanges should decide which assets people can trade, how DeFi must evolve to reward token holders sustainably, and whether Uniswap’s push to keep liquidity fragmented is a moat or a weakness. 

Finally, they unpack the future of sequencing — and why Flashbots could deliver Solana-level speed while making trading fairer for everyone.

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

Two VCs on Why the 4-Year Cycle Is Dead, DATs & Hyperliquid vs. Binance

Could Hyperliquid finally force Binance to play fair? Plus: ETH’s narrative flipped overnight—SOL may be next.

Is crypto no longer moving in predictable four-year waves?

From the rise of DATs and stablecoin-specific chains, to Hyperliquid challenging Binance itself, the industry is fracturing into segments with winners and losers.

In this episode, Hack VC’s Peter Hans and DBA’s Jon Charbonneau debate whether Solana is next in line for a TradFi pump, why ETH suddenly flipped from dead to indispensable, and how onchain exchanges could finally free projects from Binance’s grip.

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: Tom Lee the New Saylor? DAT Consolidation, Token Wrappers Under Fire

Tom Lee’s Ethereum Bet, Tokenized Stocks & the mNAV Squeeze – The Chopping Block

DAT mania meets market reality. Tom Lee becomes the face of ETH as BitMine amasses 1.5% of supply and mNAV premiums start to collapse. We break down Japan’s MetaPlanet tax arbitrage, SharpLink’s buyback tactics, and the coming wave of DAT M&A. Plus: Robinhood launches tokenized stocks in Europe using Arbitrum, the WFE fires a warning shot, and Stylus lets fintech devs go Rust-first onchain.

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. This week, Arbitrum’s AJ Warner (Chief Strategy Officer at Offchain Labs) joins to unpack the rise (and potential fall) of Digital Asset Treasuries (DATs), as Tom Lee emerges as Ethereum’s public face and BitMine amasses 1.5% of ETH. We dive into the collapse of mNAV premiums, Japan’s MetaPlanet tax arbitrage, and the looming consolidation of subscale DATs. Plus: Robinhood launches tokenized stocks in the EU on Arbitrum, AJ shares the roadmap for Robinhood Chain, and we debate whether token wrappers, buybacks, and DAT M&A mark the next era of crypto capital markets.

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 👀

How Crypto Treasury Companies Are Juicing Yields in a Crowded Field

Crypto’s latest trend is now fiercely competitive, pushing companies to differentiate themselves by creatively generating yield. But the risks they take could someday backfire.

If You Like Unchained:

🎧 Subscribe on YouTube, Apple Podcasts, Spotify, or wherever you get your podcasts!