Crypto assets and blockchain technology are about to transform every trust-based interaction of our lives, from financial services to identity to the Internet of Things. In this podcast, host Laura Shin, an independent journalist covering all things crypto, talks with industry pioneers about how crypto assets and blockchains will change the way we earn, spend and invest our money. Tune in to find out how Web 3.0, the decentralized web, will revolutionize our world. Disclosure: I'm a nocoiner.
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Crypto assets and blockchain technology are about to transform every trust-based interaction of our lives, from financial services to identity to the Internet of Things. In this podcast, host Laura Shin, an independent journalist covering all things crypto, talks with industry pioneers about how crypto assets and blockchains will change the way we earn, spend and invest our money. Tune in to find out how Web 3.0, the decentralized web, will revolutionize our world. Disclosure: I'm a nocoiner.
At What Price Freedom? Stopping ‘All-Out Crime’ in Crypto Market Making - Ep. 809
Unchained
59 minutes
2 weeks ago
At What Price Freedom? Stopping ‘All-Out Crime’ in Crypto Market Making - Ep. 809
As DeFi continues to evolve, the challenge of finding a balance between decentralization and protection from all manner of exploits persists.
The founder of Infinex, Kain Warwick, joined the show to talk about:
How crypto market makers have at times veered into “all-out crime”
What market making looks like today
Playing chart games with token allocations
What Kain looks at when evaluating tokens
Why Binance kicked a MOVE market maker off its platform
The $JELLY attack on Hyperliquid and the problem of centralization in DeFi
What problems in crypto Kain is attempting to solve with Infinex
Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com
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Bitwise
Guest:
Kain Warwick, founder of Infinex App and Synthetix
Previous appearances on Unchained:
2025 Will Be a Year of Crypto Competition. Can Ethereum Make a Comeback?
Links:
Crypto Market Making
Kain Warwick: Discussion about market makers
Binance: What happened with MOVE on Binance
Coindesk: Binance Offboards Market Maker That It Said Made $38M Profit on MOVE Listing
Bloomberg: Citadel Securities Plots Jump Into Crypto Trading After Trump’s Embrace
Hyperliquid
Unchained: Hyperliquid Saved Itself a $15 Million Loss, but Sparked Criticism
Infinex
The Block: Synthetix founder Kain Warwick launches Infinex
The Block: Peter Thiel's Founders Fund invests in Infinex's Patron NFT sale as total amount raised hits $67.7 million
Timestamps:
👋 0:00 Intro
💭 03:30 Thoughts on crypto market makers
🙊 05:54 ICO-era market makers engaging in ‘all-out crime’
🦹 09:33 Extracting value in an inefficient market
💸 11:28 How crypto market making has evolved in recent years
😨 16:53 The low float meta problem
📊 19:49 Why Kain evaluates tokens on FDV rather than market cap
⁉️ 25:06 What happened with MOVE on Binance
😱 31:14 Citadel as a market maker?
🥷 35:48 The $JELLY attack on Hyperliquid and the problem of centralization
🔧 44:59 The problems Kain is trying to solve with Infinex
🌎 54:13 Building a web vs. mobile app
👂 56:17 Echo group integration with Infinex
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Unchained
Crypto assets and blockchain technology are about to transform every trust-based interaction of our lives, from financial services to identity to the Internet of Things. In this podcast, host Laura Shin, an independent journalist covering all things crypto, talks with industry pioneers about how crypto assets and blockchains will change the way we earn, spend and invest our money. Tune in to find out how Web 3.0, the decentralized web, will revolutionize our world. Disclosure: I'm a nocoiner.
