Host Sri Misra speaks with Arthur Breitman, Co-founder of Tezos, on why most blockchain projects fail the TVL game and how Tezos is building sustainable liquidity through real assets like tokenized uranium instead of chasing mercenary capital.Topics covered:👉The TVL trap: incentives that spike and disappear👉Why Etherlink focuses on products not available elsewhere👉XU308: tokenized physical uranium on Tezos👉Building DeFi that lasts vs. degen playsWatch the full conversation: unhashed.co/arthur

"Most blockchains have no reason to exist." Arthur Breitman, Co-Founder of Tezos and former Goldman Sachs quant, doesn't hold back on the state of crypto in 2025. In this episode, we explore on-chain governance, the real tokenization opportunity, and why Tezos is betting on tokenized uranium.Arthur Breitman has been building in crypto since 2014, surviving multiple bear markets and shipping 19 forkless protocol upgrades through binding on-chain governance. In this wide-ranging conversation with Sri on alpha un#, Arthur dismantles the narratives driving most blockchain projects, from special-purpose chains that exist only to sell tokens to play-to-earn games that function as pyramid schemes.

He explains why Ethereum's fork-based governance is actually centralized, how Etherlink achieves sub-second finality as the only non-custodial EVM Layer 2, and why Tezos tokenized physical uranium instead of chasing yet another DeFi token. From his background in quantitative finance at Morgan Stanley to leading Trilitech in London, Arthur brings a rare systems-thinking approach to blockchain infrastructure. This episode delivers contrarian takes on DeFi tokenomics, the $30 trillion RWA opportunity, and what "scaling without compromise" actually means when AI makes intelligence cheap and physical commodities valuable.What You'll Learn:👉Why Arthur believes most blockchains and crypto tokens have no legitimate use case beyond selling tokens👉How Tezos's binding on-chain governance enabled 19 upgrades without hard forks, and why Ethereum's model is centralized👉The strategy behind Uranium.io, reducing uranium investment minimums from $4.2 million to $10 through tokenization👉Why Etherlink uses XTZ as native gas instead of launching a separate L2 token, preventing value leakage👉Arthur's framework for evaluating real-world asset tokenization and why most RWA projects miss the point👉How mercenary capital kills sustainable DeFi growth and what Tezos does differently with liquidity incentives
#CryptoInfrastructure #BlockchainInnovation #Web3 #CryptoInterview #AlphaUnhashed #TezosEcosystem #SmartContracts #DecentralizedGovernance #CryptoOG #BlockchainFounder #TrilliTech #EthereumAlternative #L2Scaling #NonCustodialRollup #CryptoRealism #BlockchainNarrativesDisclaimer: The information presented is for educational purposes only. Views expressed are those of the speakers, not necessarily the channel. You are responsible for your own research and decisions.Copyright: © 2024 Aarna AI Pte Ltd, Singapore. All rights reserved.

That Billions episode where characters use crypto to hide from the government? Host Sri Misra sits down with Mriganka Pattnaik, CEO of Merkle Science, who explains what they got wrong and what they got right about criminal use of cryptocurrency.

What They Got RIGHT:

• Criminals ARE early adopters of crypto

• Decentralized nature attracts both good and bad actors

• Easier than moving $5M in physical cash across borders

• Criminal activity follows mainstream adoption

What They Got WRONG:

• Everything IS visible on-chain

• On-ramps and off-ramps are monitored

• Sophisticated analytics can trace movements

• It's actually harder to hide than most think

Full Episode at: unhashed.co/mriganka

In this episode host Srikumar Misra sits down with Mriganka Pattnaik, CEO of Merkle Science, who breaks down why stablecoins particularly USDT on Tron have become the preferred tool for criminal activity in crypto. This isn't about meme coins anymore.Why Criminals Love Stablecoins:👉No price fluctuation = predictable value👉Cross-border ease of movement👉Lower fees than traditional rails👉Less compliance than major exchanges👉Tether's looser KYC vs Circle's USDCFull episode at: unhashed.co/mriganka

Join host Srikumar Misra as he unpacks the ongoing battle between blockchain analytics and sophisticated crypto criminals with Mriganka Pattnayak, Co-Founder and CEO of Merkle Science.What You'll Learn:👉How North Korea (DPRK) creates fake crypto exchanges to launder funds👉Why criminals adapt faster than detection systems can keep up👉The spectrum of crypto criminals: sophisticated vs. amateur👉Why blockchain transparency isn't enough to stop crime👉Real examples of how pattern detection works (and fails)Full episode at: unhashed.co/mriganka

How do crypto criminals stay ahead of blockchain analytics, and why is Tether on Tron now the $1 billion superhighway for illicit activity? In this episode, Mriganka Pattnaik reveals how Merkle Science tracks crypto crime across 125+ blockchains and why compliance is unlocking crypto's next massive adoption wave.Mriganka Pattnaik is the Co-Founder and CEO of Merkle Science, a $27M-backed blockchain analytics company fighting crypto crime for exchanges, banks, and law enforcement worldwide. From witnessing daily hacks at Singapore's Luno exchange to building predictive AI tools that detect North Korean hackers before they strike, Mriganka's journey shows why compliance infrastructure is crypto's most critical unsexy problem. In this conversation with host Sri Misra, he breaks down why criminals prefer USDT on Tron, how cross-chain bridges enable money laundering, why behavioral analytics catches what traditional monitoring misses, and what the stablecoin regulation wave means for DeFi protocols. He also shares why he moved Merkle Science from Singapore to New York, how public-private collaboration with the FBI actually works, and whether MEV can be used for good. This episode is essential viewing for anyone building in crypto, worried about DeFi security, or trying to understand how blockchain forensics actually works in 2025's regulatory environment.Key Highlights👉How Mriganka Pattnaik built Merkle Science into a Forbes 30 Under 30 blockchain analytics leader monitoring 125+ blockchains👉Why USDT on Tron has become the primary network for crypto criminals and money laundering activity👉How behavioral AI and predictive analytics detect North Korean DPRK hackers before $300M disappears👉The privacy vs security debate, why blockchain monitoring doesn't compromise individual privacy, and what really triggers investigations👉Cross-chain bridges as the new money laundering vector and how criminals exploit multi-chain complexity👉Why New York beat San Francisco for crypto compliance infrastructure and Merkle Science's geographic strategy👉Stablecoin regulation creating massive compliance opportunities and how freeze functions actually work#blockchainanalytics #cryptosecurity #cryptoforensics #DeFicompliance #stablecoinregulation #USDTonTron #cryptocrime #moneylaundering #blockchainsecurity #DPRKhackers #NorthKoreacrypto #crosschainbridges #cryptohacks #behavioralAI #predictiveanalytics #cryptoexchanges #lawenforcementtools #blockchainintelligence #Forbes30Under30 #cryptoregulation #compliancetech #MEVprotection #cryptocompanies #SingaporeCrypto #NewYorkCrypto Disclaimer: The information presented is for educational purposes only. Views expressed are those of the speakers, not necessarily the channel. You are responsible for your own research and decisions.Copyright: © 2024 Aarna AI Pte Ltd, Singapore. All rights reserved.

Why Is Building DeFi Infrastructure Harder Than Building Another DEX?

Marcus Hardt, CEO of Balancer Labs, shares his unconventional journey from mechanical engineer to leading one of DeFi's most technically sophisticated protocols. In this conversation with host Srikumar Misra recorded before the November 2025 security incident that affected Balancer V2 pools, Marcus offers candid insights into the challenges of building programmable liquidity infrastructure in a competitive and rapidly evolving space. He discusses the strategic decisions behind weighted pools, multi-token liquidity, and the V3 architecture that simplified pool deployment from weeks to minutes. Marcus breaks down how Balancer positions itself differently from Uniswap and Curve, focusing on flexibility and composability rather than pure trading volume. He explores the technical innovations behind boosted pools integrated with lending markets like Aave, liquidity bootstrapping mechanisms for token launches, and the new concentrated liquidity approach with Reclam. The conversation also touches on revenue models, institutional use cases, and the broader question of whether DeFi infrastructure can achieve sustainability beyond token incentives. This discussion provides a realistic look at the operational challenges, security considerations, and strategic tradeoffs involved in building foundational DeFi infrastructure.Key Highlights:👉Marcus's transition from mechanical engineering to crypto CEO and what it takes to lead technical teams without a dev background👉How Balancer differentiates through weighted pools, programmable liquidity, and platform strategy versus direct competition👉Technical architecture of V3, boosted pools with yield integration, and the simplified deployment process👉Institutional treasury management, DAO liquidity provision, and protocol-owned liquidity use cases👉The challenges of building sustainable DeFi infrastructure and competing in a crowded AMM landscape👉Lessons on managing complexity, maintaining security, and evolving protocol architecture over time
#DeFiInfrastructure #AMM #AutomatedMarketMaker #DeFiProtocols #WeightedPools #BoostedPools #LiquidityBootstrapping #ProgrammableLiquidity #DeFiSecurity #BalancerV3 #ConcentratedLiquidity #YieldBearingTokens #DAOTreasury #ProtocolOwnedLiquidity #DeFiInnovation #CryptoInfrastructure #UniswapAlternative #CurveDEX #InstitutionalDeFi #SmartContractSecurity #CryptoProtocols #BlockchainInfrastructure #Web3Building #DeFiLiquidity #DeFiFoundersDisclaimer: The information presented is for educational purposes only. Views expressed are those of the speakers, not necessarily the channel. You are responsible for your own research and decisions.Copyright: © 2024 Aarna AI Pte Ltd, Singapore. All rights reserved.