Unchained

Former FTX General Counsel Ryne Miller joins the DEX in the City crew to unpack the CFTC's crypto moves. Does the agency have the staffing to achieve its “aggressive” agenda?

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The Commodity Futures Trading Commission under Chair Mike Selig has unveiled an expansive agenda across artificial intelligence, crypto and prediction markets. 

Former CFTC staffer and FTX General Counsel Ryne Miller joins DEX in the City hosts Vy Le and Jessi Brooks to unpack the agenda and answer whether the regulator has the resources to fulfill it.

According to Miller, the agenda could see the agency return to a schedule similar to the Dodd-Frank era under then-Chair Gary Gensler. 

Beyond the CFTC's regulatory moves, Miller also weighs in on the growing bans on the use of prediction markets by certain officials. Find out why he says it is a trend that is likely to continue. Plus, should Canton be segregated from other blockchains?

Hosts:


⁠⁠⁠⁠⁠⁠Jessi Brooks⁠⁠⁠⁠⁠⁠, General Counsel at Ribbit Capital


⁠⁠⁠⁠⁠TuongVy Le, General Counsel at Veda

Guest:


⁠Ryne Miller, Partner at Morrison Foerster & Former FTX General Counsel

Links:


Unchained:


CFTC Clears Path for Phantom to Bridge Crypto Wallets and Derivatives


CFTC Moves to Rein In Prediction Markets as Industry Booms


SEC and CFTC Move Toward Unified Crypto Rules


Crypto Startup Bet on Its Own Fundraise on Polymarket, Then Apologized


How Prediction Markets Make Espionage So Much Easier — and Risk National Security


Visa Approves Its First Blockchain Governance Proposal, Joining Canton Network as Super Validator

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Google just set a deadline. Quantum computers could break Bitcoin's encryption by 2029. Are blockchains ready?

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Google and Oratomic published quantum computing research on the same day, and together they redraw the timeline for when blockchains need to be post-quantum secure.

Google's paper, co-authored by Ethereum Foundation researcher Justin Drake and Stanford cryptographer Dan Boneh, estimates 2029 for breaking the elliptic curve cryptography that protects Bitcoin and Ethereum.

Oratomic's findings are sharper: utility-scale quantum computers may need only 10,000 qubits, not the millions previously assumed, and the company already has 6,000 in the lab.

With 6.7 million BTC in vulnerable addresses and a newly identified 9-minute attack window on unspent Bitcoin transactions, the question is no longer whether blockchains need to migrate. It's whether they can do it fast enough.

Guests:


⁠Alex Pruden, Co-Founder & CEO, Project Eleven


⁠Dolev Bluvstein, CEO of Oratomic

Links:


Unchained:


Q-Day Is Imminent. Can Bitcoin Survive the Quantum Threat?


Solana Deploys Post-Quantum Signatures on Testnet


Is Nic Carter Exaggerating Bitcoin's Quantum Risk? Yes, Says One Core Dev


Research Papers:


Google: Securing Elliptic Curve Cryptocurrencies Against Quantum Vulnerabilities


Oratomic: Shor's Algorithm with as Few as 10,000 Reconfigurable Atomic Qubits (arXiv)


Caltech: Useful Quantum Computers Could Be Built with as Few as 10,000 Qubits


Companies & Tools:


Project Eleven


Project Eleven: Yellow Pages


Oratomic


BIP 360: Pay-to-Merkle-Root (P2MR)


Standards & Infrastructure:


NIST Post-Quantum Cryptography Standards


Cloudflare: State of the Post-Quantum Internet


Google Quantum AI: Willow & Error Correction


Algorand: Quantum-Resistant Falcon Signatures

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When do oil prices force a ceasefire? Why is crypto holding firm while equities crack? And does Canton or Ethereum win the institutional race?

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Bond market tightening has become the invisible hand constraining every policy decision, from Iran talks to stimulus spending. 

With Brent crude at $107 and the 10-year yield climbing, asset prices face a cascade of headwinds: inflationary supply shocks, tightening financial conditions, and no clear off-ramp for a conflict that the IRGC shows no appetite to negotiate. 

Yet within crypto, a sharper debate is emerging: does institutional adoption demand Canton’s permissioned structure, or can Ethereum survive with real-world assets on a permissionless layer? 

Austin, Ram, and Chris dig into the structural fault lines that the macro backdrop is now exposing, and why market-timing in a conflict where you don’t know who the endgame negotiator is may be the wrong frame entirely.

Hosts:


⁠⁠⁠Austin Campbell⁠⁠⁠, Host of Bits + Bips, Zero Knowledge Consulting


⁠⁠⁠Ram Ahluwalia⁠⁠⁠, Co-Host, CEO of Lumida


⁠⁠⁠Chris Perkins⁠⁠⁠, Co-Host, President of CoinFund

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Oil above $100, Qatar's LNG infrastructure in ruins, and a 150-year-old grid buckling under AI-era demand: Sean Murray breaks down why energy has an L1 problem and how Fuse is building the crypto-native fix.

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A $5 billion UK energy company built by Revolut alumni is about to launch a new token, and they already have an SEC no-action letter to back it up. 

But the real story starts with the grid itself. European gas prices are running 50-70% above normal. Multi-billion dollar LNG facilities damaged in recent attacks could take years to repair. And a power grid designed 150 years ago is buckling under AI data centers, EVs, and renewables it was never built to handle. 

Sean Murray, Fuse Energy's crypto lead, joins Steven Ehrlich to lay out why an estimated $70 billion in clean energy has been wasted because the grid can't move it, why that congestion problem mirrors crypto's own L1 scalability crisis, and how coordinating millions of smart home devices through a token-incentivized network could fix it.

Host:


⁠⁠⁠⁠⁠⁠⁠⁠Steven Ehrlich, Head of Research, SharpLink

Guest:


⁠⁠⁠⁠Sean Murray, Head of Special Projects & Crypto Lead, Fuse Energy — Previously part of the Revolut early team; now leading Fuse's crypto strategy and DePIN network launch for a vertically integrated energy company doing ~$500 million in annual revenue across the UK and Europe.

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Will AI agents use cards or stablecoins? Here’s how two crypto VCs see the agentic future shaping up.

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What happens when merchants are code instead of storefronts? Noah Levine and Robbie Petersen debate whether stablecoins or cards win in an agentic economy, and more importantly, where the profit pools end up.

One sees headless merchants driving a new payment stack; the other warns that front ends never fully disappear. Both agree on this: traditional fraud detection will likely fail against AI behavior patterns, and the rails question masks a deeper problem of regulatory and social inertia.

The outcome hinges on whether permissionless infrastructure can outcompete existing payment incumbents, and whether agentic commerce actually scales beyond niche use cases.

Guest:


Noah Levine, Partner at a16z


Robbie Petersen, Junior Partner at Dragonfly

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