Two VCs on Why the 4-Year Cycle Is Dead, DATs & Hyperliquid vs. Binance - Ep. 892

Unchained

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Is crypto no longer moving in predictable four-year waves?

From the rise of DATs and stablecoin-specific chains, to Hyperliquid challenging Binance itself, the industry is fracturing into segments with winners and losers.

In this episode, Hack VC’s Peter Hans and DBA’s Jon Charbonneau debate whether Solana is next in line for a TradFi pump, why ETH suddenly flipped from dead to indispensable, and how onchain exchanges could finally free projects from Binance’s grip.

Thank you to our sponsors!

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Guests:

• Peter Hans, Partner and Global Head of Business Development at Hack VC

• Jon Charbonneau, co-founder and general partner of DBA

Links:

• Rob Hadick’s tweet on the DAT trend

• Vinny Lingham’s tweet on the locked SOL in DATs

• Unchained:

• Hyperliquid Surpasses Robinhood in Trading Volume for Three Months Straight

• Circle to Launch Layer 1 Blockchain ‘Arc’

• Stripe Is Building Its Own Layer 1 Blockchain

Timestamps:

• 🎬 0:00 Intro

• 🎯 2:44 Whether the DAT trend is peaking or just getting started

• 🧾 10:57 Whether SOL DATs include locked funds from the FTX estate

• 🙅‍♂️ 11:52 Why Jon hasn’t touched any of these products

• 📈 16:28 Why Peter still sees long-term value in these vehicles

• 🔥 20:24 Why ETH is suddenly hot in TradFi and how SOL could follow

• 🏦 28:49 What makes a stablecoin-specific chain attractive

• 😶‍🌫️ 32:42 How crypto overlooked privacy for far too long

• 🔗 38:48 What it’ll take for stablecoin chains to win the payments game

• ⚠️ 45:39 Whether stablechains could hurt Ethereum, Tron, or Solana

• 🔍 47:46 Which stablechain has the best shot at success

• 💸 52:07 Why Hyperliquid beat Robinhood in trading volume

• 🧨 56:00 How Hyperliquid could break Binance’s listing chokehold

• 🕵️‍♂️ 59:23 What makes anonymous, no-KYC products appealing

• 📉 1:01:30 Whether the 4-year crypto cycle is officially dead

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