SBF's Historic Sentencing, Gitcoin 2.0, and More!
This Week on Unchained: Don't miss the interviews with Sam Enzer, partner at Cahill Gordon & Reindel, and Meg Lister and Kevin Owocki from Gitcoin.
Sam Bankman-Fried (SBF), FTX’s co-founder, was sentenced to 25 years in prison and $11 billion in forfeiture for massive fraud, marking a historic moment in the crypto industry. Judge Lewis Kaplan emphasized the sentence’s necessity due to Bankman-Fried’s risk-oriented decision-making philosophy known as “expected value” and lack of remorse.
Sam Enzer joined Unchained to unpack the sentencing, discussing the fairness of the length, explaining how the $11 billion forfeiture would work and how it’s different from the bankruptcy proceedings. Additionally, Enzer provided insights into the kind of prison SBF would end up in and into the three-year supervised release SBF will face after his prison term. The conversation further delved into the broader impact of the sentencing on the crypto industry, suggesting it could signify the end of a dark chapter.
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. Or watch it on YouTube.
In this episode, Laura interviews Meg Lister, GM of Grants Labs at Gitcoin, and Kevin Owocki, co-founder of Gitcoin.
They discuss the evolution of Gitcoin from a centralized platform to a decentralized suite of protocols, Gitcoin 2.0, which allows any Ethereum Virtual Machine (EVM) based ecosystem to fund its public goods. They also talk about the various funding mechanisms available, including quadratic funding, retroactive public goods funding, and conviction voting.
The team is also exploring more futuristic concepts such as private voting systems, angel investing 2.0, and impact attestations. The ultimate goal for Gitcoin is to create a capital allocation infrastructure that funds what matters to communities, whether they are towns, states, countries, or online interest groups.
Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Or watch it on YouTube.
In this episode, we’re tackling pressing questions: “Are Memecoins a Good Bet for Institutional Investors?” and “Can BASE Catalyze a Shift in Ethereum’s DeFi Dominance?” Amid Ethereum’s upgrades, we explore the impact on scalability and the Layer 2 landscape. The legal entanglements of KuCoin with the DOJ and Beba’s lawsuit against the SEC prompt a discussion on “What Do These Legal Challenges Mean for Crypto’s Regulatory Future?” Additionally, we analyze the Blast Layer 2 security breach, questioning its implications for decentralized finance’s security. Plus, a hypothetical scenario with Mr. Beast airdropping his own token leads us to ponder, “Can Celebrity-Endorsed Cryptocurrencies Create Real Value?”
In Case You Missed It 👀
Here are some of the most important news of this week:
FTX Founder Sam Bankman-Fried Sentenced to 25 Years for Historic Fraud
Judge Lewis Kaplan said he felt Sam Bankman-Fried needed to have a long sentence because of his approach to viewing actions in terms of “expected value.”
Is Sam Bankman-Fried Really Expected to Pay Off an $11 Billion Judgment?
As part of his sentence, SBF was ordered to forfeit a whopping $11 billion in assets, but what will he really end up paying? And how much time will he actually spend in prison?
How Sam Bankman-Fried’s Sentencing Went Down: A Timeline of Events
Unchained reports on Sam Bankman-Fried’s sentencing from the Daniel Patrick Moynihan United States Courthouse in New York City.
Airdrops From Wormhole and Ethena Labs Set to Inject $2.4 Billion Into Crypto Market Next Week
Airdrops from Wormhole and Ethena could add an estimated $2.4 billion to the market next week, with airdrops from Kamino and Parcl following soon after.
3 Reasons Why Layer 2 Network Base Has More Than Doubled Its Total Value Locked This Year
Increased developer activity, an active meme culture, and a relationship with the US’s largest crypto exchange are three reasons behind the 130% rise in layer 2 blockchain Base’s total locked value, which reached more than $1 billion this year.
Court Rejects Coinbase’s Bid to Dismiss SEC Charges Against It
The court’s rejection of Coinbase’s motion sets the stage for a prolonged legal battle between the crypto exchange and the U.S. Securities and Exchange Commission (SEC) in which the legal status of up to 13 tokens will be addressed.
Is Prison Crypto’s New Glow-Up? Post-Incarceration Do Kwon and SBF Are Admired
Going to jail doesn’t seem to have been such a bad thing for fallen crypto moguls such as Do Kwon, Su Zhu, and Sam Bankman-Fried — at least judging by appearances.
Offensive Memecoins Proliferate on Solana, Sparking Debate
A recent boom in trading volume on Solana has also inspired a troubling uptick in racist, misogynistic, and other derogatory memecoins designed to offend.
Solana Is Ripping. But Are the Economics of the SOL Token Sustainable?
Though memecoins have boosted fees on Solana, the tokenomics call SOL’s economic sustainability into question.
Read the Weekly Recap!
🤓 Learn With Unchained
What Are Sequencers in Layer 2 Protocols Such as Optimism, Arbitrum, and Base?
A Beginner’s Guide to Ethereum Layers: Data Availability, Consensus, and Execution
We Are Hiring!
A Sponsorships Manager to grow sponsorships across all its platforms as the publication itself grows. See the details and apply here.
A Bitcoin Reporter to cover all things Bitcoin. See the details and apply here.
A Regulatory Reporter to cover regulatory topics in the space. See the details and apply here.
A Senior Editor to help assign and edit daily news stories, as well as work on features and other editorial projects as needed. See the details and apply here.
An Audience Development Director to broaden the reach of the publication’s content, whether through the web, social media, newsletters, podcast platforms, or videos. See the details and apply here.
🔝 Are you hiring and want to promote the postings in the Unchained newsletter? Let us know!
If You Like Unchained:
🎧 Subscribe on YouTube, Apple Podcasts, Spotify, Google Podcasts, Pandora or wherever you get your podcasts!