Dubai Talks Crypto, OpenAI Wants to Kill X, and Mantra Melts Down

Binance meets governments, Sam Altman vs. Elon Musk over X, and the OM token gets wrecked Summary This week’s NFA Podcast episode covers a dense mix of geopolitical crypto moves, scandals, and platform wars. Nish and Michiel kick off with CZ (Changpeng Zhao) advising governments from Kyrgyzstan to Pakistan and whether Binance, despite its regulatory baggage, should be guiding state crypto policies. They weigh in on Binance’s regulatory track record, Richard Teng’s role as CEO, and Dubai’s ongoing crypto diplomacy, including Crypto.com’s high-profile engagement with Sheikh Maktoum’s government. The conversation transitions into UAE’s broader digital ambitions and how regions like Ras Al Khaimah (RAK) are pioneering DAO regulation through RAKDAO. Tracer, where Nish and Michiel are both advisors, is mentioned as a beneficiary of this innovative framework. The duo then dissects the Mantra (OM token) meltdown. Nish explains how OTC deals, lack of transparency, and Coffeezilla’s exposé exposed potential manipulation. Michiel brings up parallels with traditional finance and the lack of fair disclosure in crypto. They both praise crypto sleuths like Coffeezilla and ZachXBT for filling investigative gaps left by traditional media. Shifting gears, the episode explores China lifting IP protections for luxury goods. Nish notes the online surge in knockoffs, and Michiel discusses how US-China tensions over trade and tariffs are spooking investors. They bring in historical context and media biases, with Michiel drawing parallels between the internet’s early mischaracterization and crypto’s current media portrayal. The show wraps with chatter about social media wars: Sam Altman potentially launching an OpenAI competitor to X, Threads’ poor UX, and BlueSky’s slow traction. They close on Meta’s antitrust scrutiny and Google’s ad-tech monopoly troubles before ending with Michiel lamenting Nvidia’s stock dip amid US chip export restrictions. Chapters 1. 00:28 – From Kyrgyzstan with CZ Binance’s founder resurfaces as a state advisor; or does he? 2. 03:39 – Crypto Diplomacy in Dubai Sheikh Maktoum, Crypto.com, and Dubai’s $100B digital agenda 3. 06:51 – RAK Ras Al Khaimah’s DAO regulations and Tracer’s regulatory home 4. 08:01 – Mantra Meltdown and OTC Mayhem Token crashes, Coffeezilla, and the dark arts of crypto fundraising 5. 15:51 – ZachXBT Saves the Day (Again) How blockchain sleuths outpace legacy media 6. 16:46 – The Great Chinese Knockoff Wave IP law rollback floods socials with fake Birkins and Dior bags 7. 20:21 – Altman vs Musk: X Wars Can OpenAI clone a social network just to feed the data beast? 8. 21:33 – The Drama of Threads and BlueSky Why no one uses Zuckerberg’s Twitter clone and who really uses BlueSky? 9. 25:20 – Meta on Trial, Google in Trouble Congressional heat and ad-tech monopolies in the US 10. 26:33 – Nvidia’s Chip Woes Export bans, stock dips, and staying bullish through the pain Links Binance advises countries https://news.bitcoin.com/binance-advising-governments-on-establishing-crypto-reserves/ Dubai leader Maktoum talks with crypto.com https://mediaoffice.ae/en/news/2025/april/16-04/maktoum-bin-mohammed-meets-with-president-and-coo-of-cryptocom Mantra CEO denies insider selling https://coinmarketcap.com/academy/article/mantra-ceo-denies-insider-selling-and-outlines-recovery-plan-for-om-token-after-90percent-drop Coffeezilla interviews Mantra CEO JP Mullin https://www.youtube.com/watch?v=Qk2ZeSI3ey4 ZachXBT on X https://x.com/zachxbt Birkin bags https://www.scmp.com/lifestyle/fashion-beauty/article/3185758/hermes-birkin-and-hermes-kelly-bag-collector-jamie-chua Sam Altman vs Elon Musk (Altman announced OpenAI might build an X competitor) https://www.theverge.com/openai/648130/openai-social-network-x-competitor Netflix posts record profits https://www.reuters.com/technology/netflix-quarterly-results-beat-wall-st-targets-revenue-outlook-upbeat-2025-04-17/ Google is an ad tech monopoly https://www.reuters.com/technology/us-judge-finds-google-holds-illegal-online-ad-tech-monopolies-2025-04-17/ Shocking testimony from Facebook whistleblower shows Zuckerberg accommodated China https://youtu.be/lTiAwwuvjSY?si=AKrzYUtXZCdWqTpg Nvidia faces $5.5 billion charge as US restricts chip sales to China https://www.reuters.com/technology/nvidia-expects-up-55-billion-charge-first-quarter-2025-04-15/ NFA Podcast on other channels • NFA podcast newsletter on Linkedin • NFA podcast newsletter on Substack • NFA channel on Youtube • NFA channel on Spotify • NFA channel on Apple podcasts • NFA account on Instagram • Nisheta Sachdev on X • Michiel Frackers on X Please remember: the NFA Podcast is Not Financial Advice!