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Episode · Aug 5, 2025

ATC: Liquid Staking Tokens (LST s) Are NOT Securities Let s Discuss

Macro

The All Things Crypto space opened with significant technical difficulties as host Dave @DCBK2LA struggled to maintain a stable connection from New Jersey, repeatedly dropping in and out. Co-hosts Landy @CryptoLandy and Voice B (credits) attempted to keep the conversation going while the audience rapidly joined and left the room. The hosts spent several minutes troubleshooting audio issues, testing with audience members for confirmation that the space was inaudible to listeners, and joking about the situation with references to the 90s game Lemmings and the need for a ukulele. After realizing virtually no one could hear them, Dave decided to end the space and relaunch a new one. All of this is discussion, not financial advice.

On the mic
DaveLandy
Chapters
Opening the space with technical difficulties
Dave attempting to reconnect quickly
Joking about playing ukulele while waiting
Dave successfully reconnecting
Dave complaining about poor New Jersey signal
Fear of playing music causing another crash
Noticing audience members joining then immediately leaving
Asking listeners for audio confirmation via thumbs up
Realizing the space is not audible to the audience
Multiple failed attempts to add speakers
Decision to end and relaunch the space
Transcript
Full transcript
# ATC: Liquid Staking Tokens (LST s) Are NOT Securities Let s Discuss | 2025-08-05 | https://x.com/i/spaces/1djGXVVNzXvxZ | status: approved
# Speaker attributions verified via X captions, ECAPA voiceprints, and on-air handoffs where marked confirmed.

[0:00:09] Voice B: Hey, credits.
[0:00:42] Voice B: Uh-oh. I heard no no.
[0:01:17] Dave @DCBK2LA: Can Dave reconnect fast enough? We'll find out.
[0:01:36] Voice C: Should I get out my ukulele, Landy?
[0:01:41] Voice B: Might wanna start thinking about that.
[0:01:44] Voice C: I was actually just gonna fire up the speaker, so maybe we could, have some music even though Dave's lagging.
[0:01:52] Voice B: I hope he can reconnect fast enough because then, all the reminders for this space... Poof. Uh-oh. Here we go. I see people leaving. Don't know if that's the... We're catching up or if... Can Dave make it in time? Oh, I see the microphone moving a little bit. Is he back? Not quite sure. I like when you have
[0:02:18] Dave @DCBK2LA: to reconnect and every time it tells you there's sixty seconds. Get in there. There's sixty seconds.
[0:02:25] Voice B: But we got the oh no. As soon as he opened the space, music and then oh no, and I jumped in the gobo spot.
[0:02:31] Voice C: It's like those lemmings....
[0:02:32] Voice B: If I could see him.
[0:02:33] Landy @CryptoLandy: Remember that game from the nineties, lemmings? Oh no.
[0:02:37] Landy @CryptoLandy: Oh no. Yeah. Oh, Dave, I saw I saw a mute and unmute. Uh-oh.
[0:02:45] Dave @DCBK2LA: Can hear me?
[0:02:45] Voice B: Back. There he He's back. Holy shit. You gotta be kidding me.
[0:02:50] Dave @DCBK2LA: Bro, what is... Bro, I don't know what it is. If it's the Wi Fi, if it's my phone. Bro, I I don't know what to do anymore. I really don't know what to do. I guess I just need to go back home. I need to go back to Brooklyn. This is crazy work out here. The jersey sticks and no joke, bro.
[0:03:06] Voice B: Yeah. They will eat your signal alive.
[0:03:09] Dave @DCBK2LA: I'm saying. I can't even play... I'm afraid to play music now. If I play music, it's all done. That's it. We're screwed.
[0:03:30] Dave @DCBK2LA: Never know around here what's going down.
[0:03:46] Voice B: Oh, it's too perfect. It's so perfect. But look at everybody just coming in and then running out.
[0:04:01] Dave @DCBK2LA: On credits, I need more. I need I need longer, bro. You got... There's only five of us in here, bro. I need I need to follow-up. Why is everybody leaving? Can they not hear?
[0:04:12] Voice B: I have no idea. That might be the case. Let me look on the comments. Is there any comments?
[0:04:19] Dave @DCBK2LA: AG, can you hear us?
[0:04:22] Voice B: Yeah. Just thumbs up if you can actually hear us down there.
[0:04:25] Dave @DCBK2LA: Yeah. Thumbs up if you can hear anything down there. That would be great. Nope. Everyone's just, like, coming, leaving, going. Y'all can't hear shit, apparently. Okay.
[0:04:38] Voice B: Yeah. We're just up here talking to each other.
[0:04:42] Dave @DCBK2LA: And all that music went for not... That was so good too. Shit.
[0:04:47] Landy @CryptoLandy: It's a recorded space, though. Right? Yeah. Oh. You have to listen listen back in all its glory.
[0:04:53] Dave @DCBK2LA: All six minutes of it. Right. Guys, give me a sign of life. AG, nifty, cool. Wait. Let's see if cool can come up. I'm allowed up to two go.
[0:05:04] Dave @DCBK2LA: He's gone already. He's gone already. Thumbs up. Before you come up, empress, can you thumbs up if you can hear us?
[0:05:11] Voice C: No.
[0:05:13] Voice B: Let's see.
[0:05:13] Voice C: People come in and leave.
[0:05:15] Dave @DCBK2LA: There was an error adding empress. Yo. This is not me, guys. I'm telling you. This can't be me.
[0:05:20] Voice C: I would get a thumbs up from Nifty.
[0:05:24] Voice B: Yeah. I don't think anybody can hear us.
[0:05:27] Dave @DCBK2LA: Why this folks there?
[0:05:29] Dave @DCBK2LA: Because I can't add empress. Cool jumping in and out. He's just trying over and over again. He's just Yeah. I didn't hear You're going.
[0:05:37] Dave @DCBK2LA: Right. And it should
[0:05:39] Voice C: start again.
[0:05:40] Dave @DCBK2LA: Fuck it, man. You gotta be kidding.
[0:05:42] Voice C: Sucks. Right?
[0:05:43] Voice B: But
[0:05:43] Dave @DCBK2LA: This sucks. Okay. Alright. Let me let me let me rug this shit. I'll I'll I'll launch another one.
[0:05:50] Voice B: Alright.
[0:05:51] Voice C: It was fun.
[0:05:52] Dave @DCBK2LA: Yeah. Good time. Thanks, credit. Credits.
[0:05:55] Voice B: This is fun up here, the three of us. Yeah.

Auto-transcribed. Speaker names are voice-match guesses and may be off.