The crew is joined by Selini Capital’s Jordi Alexander to break down Open USD, the no-fee stablecoin from a 140-firm consortium spanning Visa, Mastercard, BlackRock, Google and Coinbase, all aimed at the Circle and Tether duopoly. Plus Saylor’s new Digital Credit framework for MicroStrategy, the Ansem-fueled memecoin comeback, and ENS reigniting the “DAOs are fake” debate.
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. Joining the panel “at the moment of max pain” is Jordi Alexander, CIO of Selini Capital. First up: MicroStrategy in crisis, with MSTR down about 30% in five days and STRC hitting $71, and Saylor’s answer, a new Digital Credit framework with an 18-month cash cushion and a jumbo dividend hike to 12%. Then the headline story, Open USD: a no-fee stablecoin from a 140-member consortium including Visa, Mastercard, BlackRock, Google and Coinbase, built to break the Circle and Tether duopoly.
The back half covers the memecoin comeback around the Ansem coin, and ENS reigniting the “DAOs are fake” debate after Nick Johnson single-handedly blocked a governance vote, before the crew debates whether consortia are just DAOs in a suit. Let’s get into it.
Listen to the episode on <a href="https://bit.ly/3w9HQ7J">Apple Podcasts</a>, <a href="https://bit.ly/3wiIOyy">Spotify</a>, <a href="https://pods.media/the-chopping-block">Pods</a>, <a href="https://fountain.fm/">Fountain</a>, <a href="https://podcastaddict.com/">Podcast Addict</a>, <a href="https://pocketcasts.com/">Pocket Casts</a>, <a href="https://music.amazon.com/">Amazon Music</a>, or on your favorite podcast platform.
Show highlights
🔹 MSTR falls about 30% in five days and STRC hits $71. Saylor answers with a new “Digital Credit” framework, an 18-month cash cushion, and a jumbo dividend hike to 12%
🔹 Jordi calls the death-spiral panic overblown: “Luna was worthless; you cannot print Bitcoin”
🔹 Tarun stands by “Luna for suits,” comparing STRC’s marketing to Anchor, right down to the AI ad of Saylor escaping the Titanic
🔹 Open USD launches: a no-fee, no-cap stablecoin backed by 140 firms including Visa, Mastercard, BlackRock, Google and Coinbase, aimed at the Circle and Tether duopoly
🔹 Circle drops about 7 to 8% on the news, and Tether’s Paolo Ardoino “welcomes” a real competitor, the same bit he ran on Libra
🔹 Haseeb’s take: a 140-member consortium is “a signed petition,” good for expanding the market but not for taking Tether’s or Circle’s turf
🔹 Tarun says it all comes down to the revenue share. Set the wrong rules and someone just farms the rake
🔹 The Ansem coin sparks a memecoin revival, a roughly $100M cap the market hasn’t seen in a long time
🔹 ENS reignites the DAO debate as Nick Johnson blocks a treasury restructuring with about 50% of the vote. Are consortia just DAOs in a suit?

Hosts
⭐️<a href="https://twitter.com/hosseeb">Haseeb Qureshi</a>, Managing Partner at Dragonfly 
⭐️<a href="https://twitter.com/tomhschmidt">Tom Schmidt</a>, General Partner at Dragonfly 
⭐️<a href="https://twitter.com/tarunchitra">Tarun Chitra</a>, Managing Partner at Robot Ventures
Guest
⭐️<a href="https://twitter.com/GameTheorizing">Jordi Alexander</a>, CEO of Selini Capital
<a href="http://choppingblock.xyz">Disclosures</a>

Timestamps
00:00 Intro
01:07 The DeSci beef and Tarun’s Ponzi crusade
03:30 MicroStrategy in crisis: Saylor’s Digital Credit reset
09:34 Is STRC still “Luna for suits”?
19:24 Open USD: 140 firms take on Circle and Tether
29:42 Why a 140-member consortium is just a “signed petition”
42:13 Coinbase’s two masters: USDC vs Open USD
47:01 The memecoin comeback and the Ansem coin
51:57 ENS blows up the DAO: Nick Johnson blocks the vote
57:26 DAOs vs consortia, and can AI save governance? Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices">megaphone.fm/adchoices</a>

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The Chopping Block: Visa, Mastercard & 140 Firms Take On Circle, Saylor’s Digital Credit Reset & the DAO Reckoning

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