Welcome to “The Chopping Block” – where crypto insiders Haseeb Qureshi, Robert Leshner, Tom Schmidt, and Tarun Chitra chop it up about the latest news. This week: Silicon Valley Bank went belly up and knocked USDC off its peg with it. For good measure, Signature Bank was taken over by regulators. After a hellish weekend, what did we learn?

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

Show highlights: 

what happened with Silicon Valley Bank 

why USDC depegged and reached a low of 88 cents

how Maker responded to the depegging of USDC

whether DeFi responded flawlessly to the chaotic events

how Haseeb’s VC fund, Dragonfly, was ensnared in SVB’s collapse

what Tarun thinks made Elizabeth Warren change her tune on SVB

whether Signature Bank was shut down because of its crypto-related activities

why bonds are not marked to market by banks

which company is going to issue the euro-dollar stablecoin

how BTC has been outperforming the NASDAQ since the FTX collapse

how Euler Finance got hacked for almost $200 million

whether flash loans should be banned 

the rules around crypto and finance in the Middle East

why DeFi is a fundamental innovation that’s better than many financial systems across the world




Hosts


Haseeb Qureshi, managing partner at Dragonfly 


Tarun Chitra, managing partner at Robot Ventures


Robert Leshner, founder of Compound 


Tom Schmidt, general partner at Dragonfly 

Disclosures
Links

Unchained:

The Fall of SVB: What Happened and How It Affects Crypto

Was Signature Bank Actually Insolvent?

Euler Finance Loses $197 Million in Flash Loan Exploit

MakerDAO to Reinforce DAI Peg With Parameter Changes

Circle to Bring On New Banking Partner for USDC Minting, Redemption

Coinbase Says It Holds $240 Million in Cash at Signature Bank

Regulators Close Signature Bank Following SVB Collapse

Silvergate to Wind Down Operations in ‘Voluntary Liquidation’


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