Crypto’s vibe check time: Jez (izebel_eth) joins the crew to dissect whether idealism is RIP, if cypherpunks should abandon hope, how Memecoins and asset mayhem changed the game, why prediction markets are both truth engines and regulatory minefields, and where real permissionless finance is actually winning in the middle of global chaos.

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 the gang is joined by super-perpetuals-junkie Jez for a spicy look at whether crypto has lost its soul — or if things are just getting interesting. Is crypto’s vibe shift just growing pains, or did Memecoins and jaded traders nuke our idealism for good? The crew rehashes dreams of cypherpunk glory, debates the “death of the dream,” and gets existential about crypto’s place in a world where everything is either a commodity, a meme, or a permissionless financial machine. Plus: War in Iran sends TradFi running, but DeFi markets are live, and prediction markets step up just as the regulators get weird. Enough nostalgia — let’s get into it.
Listen to the episode on <a href="https://podcasts.apple.com/us/podcast/unchained/id1123922160">Apple Podcasts</a>,<a href="https://open.spotify.com/show/1cJrrfGY1SKBIRn5noKSAf"> Spotify</a>, <a href="https://pods.media/unchained">Pods</a>, <a href="https://fountain.fm/show/XCVXRPNvY3wLrlMHwAMs">Fountain</a>, <a href="https://podcastaddict.com/podcast/4129535">Podcast Addict</a>,<a href="https://pca.st/podcast/bb16e6b0-1469-0134-a447-13e6b3913b15"> Pocket Casts</a>, <a href="https://music.amazon.com/podcasts/f5ec630d-4dfa-4e73-baca-3f5062927c55/unchained?refMarker=null">Amazon Music</a>, or on your favorite podcast platform.
Show highlights
🔹 Jez and Tarun’s crypto origin story: from MIT outcast to NFT party degens.
🔹 Has crypto really lost its soul, or just shed its rose-tinted glasses? The hosts debate.
🔹 The rise and rise of Memecoins, rampant speculation, and Solana’s culture shift.
🔹 Do “return to cypherpunk” calls matter—or is this what crypto winning looks like?
🔹 Why stablecoins, perps, and DeFi are actually success stories (despite maximalist whining).
🔹 AI eating crypto’s lunch: the “everything on the blockchain” promise gets a reality check.
🔹 Real world chaos, onchain price discovery: Iran war, commodities, and DeFi’s 24/7 edge.
🔹 Prediction markets—Kalshi vs. Polymarket—tripped up by the ambiguous reality of war and death.
🔹 CFTC, insider trading, and whether banning informed bets is just protecting “the fish.”
🔹 The future: agents, open-source AI, and keeping the door open for true permissionless finance.

Hosts
⭐️<a href="https://twitter.com/hosseeb">Haseeb Qureshi</a>, Managing Partner at Dragonfly 
⭐️<a href="https://twitter.com/tarunchitra">Tarun Chitra</a>, Managing Partner at Robot Ventures
⭐️<a href="https://twitter.com/tomhschmidt">Tom Schmidt</a>, General Partner at Dragonfly 

Guest
⭐️ <a href="https://x.com/izebel_eth">Jez</a>, Legend<a href="http://choppingblock.xyz">Disclosures</a>
Timestamps
00:00 Intro
01:07 Jez x Tarun Lore
03:24 Cynicism & Rug Culture
09:00 Back To Cypherpunk Roots?
14:37 Compromises & Reality
23:36 Intermediaries Coexist
25:23 Gates Closing Fears
28:10 Stablecoins & Policy
29:24 Agents As Middlemen
30:28 Microfinance to DeFi Agents
31:57 Open Source AI and Crypto Control
32:41 Iran War DeFi Price Discovery
33:57 Why Perps Beat TradFi
37:21 Kalshi vs Polymarket Dispute
44:31 Are Prediction Markets Just Toys?
50:50 Insider Trading Crackdown
54:15 Adverse Selection and Market Design Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices">megaphone.fm/adchoices</a>

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The Chopping Block: Has Crypto Lost Its Soul? Cypherpunk Nostalgia, Prediction Markets, & Permissionless Perps

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