Uploaded August 2026 | Updated September 2026, 3 weeks ago
Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner dissect ColdCard's ~$100M exploit that Claude Code cracked in 8 minutes, debate whether AI just killed open-source security and Bitcoin maximalism, tear apart Ethereum's EIP-8361 staking-yield taper, and unpack Leopold Aschenbrenner's 67% Situational Awareness blowup and CLARITY Act's ethics fight.
Show Highlights
🔹 ColdCard's Bitcoin-only hardware wallet drained of nearly $100M after a five-year-old random-number-generation bug silently fell back to weak software RNG.
🔹 A single dev swapped C++ macros with a one-word commit message, seemingly just to get NVK's code to compile, and doomed years of keys.
🔹 Claude Code found the ColdCard bug in 8 minutes; open model GLM 5.2, no internet, found it in ~20 for about $2.
🔹 Tarun calls Bitcoin maxi devs 'the RFK of security practices' who 'don't do audits,' branding ColdCard's lack of hardening 'incredibly delinquent.'
🔹 Haseeb warns AIs 'are much less diverse than humans,' so security now scales with AUM while North Korea spends thousands in compute.
🔹 Nic Carter calls it 'the death of Bitcoin maximalism' as Haseeb reads posts from holders who scrimped for three Bitcoin and woke up wiped.
🔹 EIP-8361 from Pintail and Justin Drake tapers ETH staking yield toward zero above 50% staked; the community is 'vomiting all over' it.
🔹 Tarun torches EIP-8361 as 'a truly horrendous post,' arguing constantly changing policy means Ethereum is never credible hard money.
🔹 Leopold Aschenbrenner's Situational Awareness AI hedge fund blew up ~67% while 4x levered, with Robert drawing Archegos comparisons.
Hosts
⭐️Haseeb Qureshi, Managing Partner at Dragonfly
⭐️Tom Schmidt, General Partner at Dragonfly
⭐️Tarun Chitra, Managing Partner at Robot Ventures
⭐️Robert Leshner, Founder & CEO of Superstate
Timestamps
00:00 Intro
01:03 ColdCard's $100M Exploit
05:46 AI, Audits & Bitcoin Maxi Security Failures
12:07 Open Source vs Closed Source in the AI Era
23:21 EIP-8361: Ethereum's Staking Yield Taper
30:34 Hard Money, Post-Quantum & Central Bank Chaos
35:54 Aschenbrenner's Situational Awareness Blowup
44:41 Robinhood Prediction Markets Boom as Hyperliquid RWAs Flip Crypto
51:54 Korea's Bloodbath & the Death of Retail Volatility
55:17 CLARITY Act: Ethics Provisions Are the Linchpin
_______________________________________________________
#bitcoin #ethereum #crypto #cryptocurrencies
++++++++++++++++++++++++++++++++++++++++++++++++
Subscribe to our channel!
Website → unchainedcrypto.com
Unchained Daily Newsletter (FREE!)→ unchainedcrypto.beehiiv.com/subscribe
Unchained X → https://x.com/unchained_pod
Apple → podcasts.apple.com/us/podcast/id1123922160?ls=1
Spotify → open.spotify.com/show/1cJrrfGY1SKBIRn5noKSAf?si=6SI4qIcRTEO7EhOe0V9n4w
RSS Feed → https://feeds.megaphone.fm/LSHML4761942757
Unchained: Your no-hype resource for all things crypto!
Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner dissect ColdCard's ~$100M exploit that Claude Code cracked in 8 minutes, debate whether AI just killed open-source security and Bitcoin maximalism, tear apart Ethereum's EIP-8361 staking-yield taper, and unpack Leopold Aschenbrenner's 67% Situational Awareness blowup and CLARITY Act's ethics fight.
Show Highlights
🔹 ColdCard's Bitcoin-only hardware wallet drained of nearly $100M after a five-year-old random-number-generation bug silently fell back to weak software RNG.
🔹 A single dev swapped C++ macros with a one-word commit message, seemingly just to get NVK's code to compile, and doomed years of keys.
🔹 Claude Code found the ColdCard bug in 8 minutes; open model GLM 5.2, no internet, found it in ~20 for about $2.
🔹 Tarun calls Bitcoin maxi devs 'the RFK of security practices' who 'don't do audits,' branding ColdCard's lack of hardening 'incredibly delinquent.'
🔹 Haseeb warns AIs 'are much less diverse than humans,' so security now scales with AUM while North Korea spends thousands in compute.
🔹 Nic Carter calls it 'the death of Bitcoin maximalism' as Haseeb reads posts from holders who scrimped for three Bitcoin and woke up wiped.
🔹 EIP-8361 from Pintail and Justin Drake tapers ETH staking yield toward zero above 50% staked; the community is 'vomiting all over' it.
🔹 Tarun torches EIP-8361 as 'a truly horrendous post,' arguing constantly changing policy means Ethereum is never credible hard money.
🔹 Leopold Aschenbrenner's Situational Awareness AI hedge fund blew up ~67% while 4x levered, with Robert drawing Archegos comparisons.
Hosts
⭐️Haseeb Qureshi, Managing Partner at Dragonfly
⭐️Tom Schmidt, General Partner at Dragonfly
⭐️Tarun Chitra, Managing Partner at Robot Ventures
⭐️Robert Leshner, Founder & CEO of Superstate
Timestamps
00:00 Intro
01:03 ColdCard's $100M Exploit
05:46 AI, Audits & Bitcoin Maxi Security Failures
12:07 Open Source vs Closed Source in the AI Era
23:21 EIP-8361: Ethereum's Staking Yield Taper
30:34 Hard Money, Post-Quantum & Central Bank Chaos
35:54 Aschenbrenner's Situational Awareness Blowup
44:41 Robinhood Prediction Markets Boom as Hyperliquid RWAs Flip Crypto
51:54 Korea's Bloodbath & the Death of Retail Volatility
55:17 CLARITY Act: Ethics Provisions Are the Linchpin
_______________________________________________________
#bitcoin #ethereum #crypto #cryptocurrencies
++++++++++++++++++++++++++++++++++++++++++++++++
Subscribe to our channel!
Website → unchainedcrypto.com
Unchained Daily Newsletter (FREE!)→ unchainedcrypto.beehiiv.com/subscribe
Unchained X → https://x.com/unchained_pod
Apple → podcasts.apple.com/us/podcast/id1123922160?ls=1
Spotify → open.spotify.com/show/1cJrrfGY1SKBIRn5noKSAf?si=6SI4qIcRTEO7EhOe0V9n4w
RSS Feed → https://feeds.megaphone.fm/LSHML4761942757
Unchained: Your no-hype resource for all things crypto!
