Uneasy Money: Why the Broken Pre-IPO Secondary Markets Won't Be Fixed Anytime Soon

Anthropic is voiding secondary market trades. Who gets hurt — WhatsApp scammers, Forge buyers, or the founders? Plus: why continuous synthetic pricing is coming for every pre-IPO company.

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Anthropic and OpenAI are moving to void secondary market trades — and Kain, Tay, and Luca think that's only going to work if they're serious about it, which means a lawsuit is probably coming.

This week on Uneasy Money they trace the full anatomy of the pre-IPO SPV fraud wave, explain why synthetic perpetual markets will eventually price every in-demand private company continuously whether founders want it or not, and dig into the latest AI hacks. Tay breaks down how attackers are now using local on-device Gemini APIs to construct malware on the fly, and Kain shares the story of an agent that caught a slow-drain attack in 90 seconds that humans missed for 12 hours.

Luca explains why Circle's Arc token is a brilliant move for Circle equity holders even if it changes nothing for ETH or Solana. Plus: the Aave/Kelp court update and why the Gerstein lawyers' argument that every victim needs to show up in court is fundamentally incompatible with how onchain recovery works.

Hosts:

• ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Kain Warwick⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, Founder of Infinex and Synthetix

• ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Taylor Monahan⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, Security Expert

• ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Luca Netz⁠⁠⁠⁠, CEO of Pudgy Penguins

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