CoinDesk Podcast Network

CoinDesk Podcast Network

By CoinDesk.com

The top stories and best shows in the blockchain world, delivered daily from the team at CoinDesk.

Episodes

BREAKDOWN: Snoop Is ‘Medici’? The Mainstream Infiltration Continues

What Snoop’s reveal says about the state of NFTs and crypto in general.This episode is sponsored by NYDIG.Today on the Brief:BlockFi gets another extensionChainalysis’s secret data honeypotRobinhood crypto finally gets transfersIn our main discussion, NLW talks how crypto has mainstreamed over the last year, including:Bitcoin for hedge fundersBitcoin for El SalvadorNFTs for NBA fansNFTs for crypto OGs and celebrities He specifically looks at what rapper Snoop Dogg’s anon account disclosure in the space means for the future. -NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-“The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Tidal Wave” by BRASKO. Image credit: Gary Miller/Getty Images Entertainment, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
22/09/2120m 33s

BREAKDOWN: Did the SEC Really Serve Subpoenas at Mainnet?

A look at the latest regulatory action in what seems like a quickly gathering storm. This episode is sponsored by NYDIG.Today on “The Breakdown,” NLW looks at reports from Messari’s Mainnet conference that the Securities and Exchange Commission served one of the speakers with a subpoena right before a panel. He discusses:The growing tension between securities regulators and crypto lending and interest programsWhy Coinbase backed down from its fight with the SEC about its upcoming Lend product The non-news from today’s Gary Gensler webinar OFAC’s first sanctions against a crypto exchange. -NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-“The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: Lyubchik Prokopchuk/iStock/Getty Images Plus, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
21/09/2114m 31s

BREAKDOWN: Why Is September So Bad for Bitcoin?

A look at the historical trend as well as what’s driving weakness in the crypto and stock markets.This episode is sponsored by NYDIG. Today on “The Breakdown,” NLW looks at the historic weakness in the bitcoin market in the month of September. He examines:The numbers that show how persistent this trend has beenSome anecdotal explanations for why it’s so Why September is the worst month for stocks historicallyThe role of summer vacation and mutual fund fiscal years in that historic weaknessThe latest regulatory FUD around crypto and why stablecoins are the next big target-NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-“The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: jokerpro/iStock/Getty Images, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
20/09/2114m 11s

BREAKDOWN: Why a CBDC Would Make the Fed’s Job Miserable

Does the Fed really want to be the morality police for payments?This episode is sponsored by NYDIG. A reading of JP Koning’s essay for Coindesk “Are Central Bankers Ready for Payments Theater?”-NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-“The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Tidal Wave” by BRASKO. Image credit: Stefani Reynolds/Bloomberg/Getty Images, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
19/09/2111m 11s

BREAKDOWN: Texas and New Jersey Securities Regulators Go After Celsius

A roundup of regulatory and global macro news from the previous week.This episode is sponsored by NYDIG.On this edition of “The Breakdown’s Weekly Recap,” NLW looks at:The latest in China’s Evergrande crisis Texas and New Jersey target Celsius on their lending products Bitcoin adoption in LaosA wrap-up on the OpenSea NFT front running scandal -NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-“The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: krisanapong detraphiphat/Moment/Getty Images, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
18/09/2111m 45s

BREAKDOWN: Is China’s Evergrande Crisis a Global Systemic Risk?

The real estate developer is teetering on the brink of collapse, but what might it bring with it?This episode is sponsored by NYDIG.Today’s show is a look at one of the most important but under-discussed macro events in the world today: the crisis surrounding China’s massive real estate developer Evergrande. The company’s share price has fallen more than 85% this year and around the country, people are protesting as more than 1.5 million deposits for homes were taken without fulfillment. In this episode, NLW looks at whether the risk is limited to just Evergrande, or whether it represents a larger systemic risk for China or the world as a whole. -NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-“The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Tidal Wave” by BRASKO. Image credit: Qilai Shen/Bloomberg/Getty Images, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
17/09/2117m 16s

BREAKDOWN: Laos Does About-Face on Bitcoin to Attract China’s Mining-Ban Refugees

Plus a look at how China is staying vigilant on keeping mining out.This episode is sponsored by NYDIG.Today’s episode of “The Breakdown” looks at a variety of topics covering the evolving relationships between states and digital currencies, including:Inner Mongolia’s fight to keep crypto mining out Laos’ official about-face on crypto and attempt to attract China’s mining refugeesCZ’s latest in Binance’s whistlestop tour to change regulators’ perception of the companyEurope’s upcoming ECB trial Coinbase’s derivative ambitions And a big raise for Avalanche -NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-“The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: Mlenny/E+/Getty Images, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
16/09/2111m 59s

BREAKDOWN: Free Markets vs. Investor Protections – The Latest from Warren and Gensler on Crypto

Gensler testified before the Senate yesterday. This is what we learned. This episode is sponsored by NYDIG.Today on "The Breakdown," NLW examines SEC Chair Gary Gensler’s testimony yesterday in front of the Senate Banking Committee. He discusses:How some allies from the Infrastructure Bill put the screws to Gensler on lack of clarity around securities designationHow Gensler is trying to redefine stablecoins Warren and Gensler’s dubious understanding of ETH fees The central problem of free markets vs. investor protections NLW also covers the Solana outage and the reports of insider trading at OpenSea. -NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-“The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: Andrew Harrer/Bloomberg/Getty Images, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
15/09/2120m 44s

BREAKDOWN: What Billions in Crypto Fund Raises Tells Us About the State of Markets

Steve Cohen, Jump Trading, Bain Capital among those increasing their exposure to crypto. This episode is sponsored by NYDIG.On this episode of “The Breakdown,” NLW looks at an array of recent fund announcements, including:Dan Tapiero and 10T’s $750 millionPantera raising a $600 million fund Jump Capital announcing a new $350 million fund with more focus on crypto and Jump Trading launching Jump Crypto Mets’ owner Steve Cohen investing in a high-frequency trading firmBain Capital Ventures launching a dedicated crypto fundWhat does it say about the state of the crypto markets? Listen to find out. -NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-“The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Tidal Wave” by BRASKO. Image credit: Feodora Chiosea/iStock/Getty Images Plus, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
14/09/2115m 14s

BREAKDOWN: Of Course Walmart Isn't Accepting Litecoin

A fake press release fools far too many. This episode is sponsored by NYDIG.At 9:30 a.m. ET, a press release from “Walmart Inc” dropped today claiming that the company was partnering with Litecoin to begin accepting the 2016-era crypto darling at its retail locations. The news, seemingly fishy, was nonetheless reported as true by nearly every crypto outlet and numerous mainstream outlets, as well. In today’s episode, NLW breaks down:What happened and how the news spreadThe context clues in the release that should have aroused suspicionThe smoking guns of fakeness in the release that REALLY should have aroused suspicionWhy the scam was designed to target pressWhy the ensuing pump is likely to draw regulatory ire. -NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-“The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: David Swanson/Bloomberg/Getty Images, modified by CoinDesk. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
13/09/2114m 28s

BREAKDOWN: The Timeline for Central Bank Digital Currencies Is Accelerating

A reading of a recent speech from the Bank for International Settlements. This episode is sponsored by NYDIG.A reading of a recent speech by Benoit Cœuré, the head of the BIS Innovation Hub, on “Central bank digital currency: the future starts today.” -NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-“The Breakdown” is written, produced by and features NLW, with editing this episode by Michele Musso and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: Hiroshi Watanabe/DigitalVision/Getty Images, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
12/09/219m 27s

SOB: On National Adoption of Bitcoin

El Salvador’s decision to make bitcoin legal tender shocked the world. Earlier this week the rapidly-developed and adopted bitcoin law went live, kicking off what seems primed to be an era of accelerated change unlike anything seen in our lifetimes.Join hosts Adam B. Levine, Andreas M. Antonopoulos and Stephanie Murphy for a quick three part discussion on the launch challenges, implications and listener comments from our previous show on the topic.First, the launch: It was messy, but it happened. Alex Gladstein had an insightful twitter thread in the days leading up to it. Matt Ahlborg dug into the day-1 government issued wallet and found a mixed bag. He found extra controls on the money given out at launch but a fairly robust technological package including native SegWit support and a functional lightning network integrationSecond, the implications: This path towards adoption was not what we expected. What El Salvador's move to use bitcoin directly suggests is that dollarized nations, or those who use another countries currency and in doing so become subject to their monetary policy decisions, may prefer bitcoin's non-monetary policy to either domestic or imported control. That's in sharp contrast to nations like India, China and the US who use their currencies and controls over it to accomplish policy goals. These powerful players see central bank digital currencies as a way to supercharge their monetary policy compared to their influence today over physical banknotes.And finally, the local perspective: We had two listeners write in with corrections to our prior episode (We were incorrect about the reason why El Salvador "dollarized" their economy in 2000, it was billed as a move to lower the cost of borrowing, not because of elevated inflation) along with the many concerns and questions which are still unanswered. You'll find both listeners comments in full linked below.Links from the episode:Federeco's El Salvador PerspectiveRafael's El Salvador PerspectiveHave any questions or comments? Send us an email at adam@speakingofbitcoin.showToday's show featured Andreas M. Antonopoulos, Stephanie Murphy and Adam B. Levine. This episode was edited by Jonas, with music by Jared Rubens and Gurty Beats. Our album art is based off a photo by Photo by Wilson Edilberto Santana Suarez on Unsplash, modified by Speaking of BitcoinSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
11/09/2137m 57s

BREAKDOWN: Dan Tapiero – Crypto Is the First Truly Global Macro Investment Opportunity of All Time

The founder of 10T talks regulation, his fund’s recent $750 million raise and more.This episode is sponsored by NYDIG.Dan Tapiero, founder of 10T, returns to “The Breakdown” to discuss:Investing $750 million into growth equity for digital asset ecosystem startupsThe number of crypto unicorns growing from 20 to 70 in a year How institutional investor questions have changed over the last 12 monthsHow regulatory headwinds are negatively impacting the U.S. crypto industry Why the long-term macro environment is likely to stay positive for crypto for years to come -NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-“The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: Boris SV/Moment/Getty Images, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
11/09/2146m 14s

BREAKDOWN: Why Former US Regulators Are Moving Into Crypto

The pattern continues as former Commodity Futures Trading Commission (CFTC) Commissioner Brian Quintenz joins Andreessen Horowitz (a16z).This episode is sponsored by NYDIG.Today on the Brief:NFT volume cools down but interest remains strongMastercard is acquiring CipherTraceEuropean Central Bank and the Federal Reserve begin preparing for asset purchase tapers this autumn Our main discussion is about the flow of regulators from the U.S. government into the crypto industry. NLW looks in particular at Brian Quintenz, who is joining Andreessen Horowitz, and Chris Giancarlo, the former CFTC chair whose new book is “CryptoDad: The Fight for the Future of Money.” -NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-“The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: Toya Sarno Jordan/Bloomberg/Getty Images, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
10/09/2114m 51s

BREAKDOWN: Ukraine Legalizes Bitcoin

Plus a look at the latest out of El Salvador as well as Panama’s new crypto legislation.This episode is sponsored by NYDIG.El Salvador made history on Tuesday, Sept. 7, when it became the first nation to make bitcoin legal tender. In this episode, NLW reviews the first day of bitcoin in El Salvador, including reports from the ground as well as the salty tears of anti-BTC libertarians. He also looks at new crypto legislation out of Panama. Finally, he covers a new bill to legalize and regulate bitcoin and crypto in Ukraine. -NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-“The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Tidal Wave” by BRASKO. Image credit: andreydayen/RooM/Getty Images, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
09/09/2117m 33s

BREAKDOWN: The SEC Threatens to Sue Coinbase but Coinbase Is Fighting Back

According to the company, the SEC has threatened to sue over the not-yet-launched Coinbase Lend product.This episode is sponsored by NYDIG.Today on “The Breakdown,” NLW briefly covers yesterday’s bitcoin price crash and why it was driven by market structure more than news. The main topic focuses on revelations from Coinbase that after months of engagement around its upcoming Lend product, the SEC is now threatening to sue. NLW examines the controversy from five dimensions:The argument for and against lending as a securityThe SEC’s pattern of regulation by litigationHow the SEC is rewarding bad actors by punishing complianceThe concerning surveillance implications of one of the SEC’s requests Why these strong-arm tactics are doomed Should Coinbase take the battle to court? -NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-“The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: Alex Wong/Getty Images News, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
08/09/2122m 58s

BREAKDOWN: It’s Bitcoin Day in El Salvador

NLW looks at the controversy and potential surrounding the implementation of El Salvador’s new bitcoin law.This episode is sponsored by NYDIG.El Salvador’s bitcoin legal-tender law goes into effect today. NLW looks at the recent controversy surrounding the law, including:Institutional controversy – why the International Monetary Fund (IMF) and World Bank don’t like the law Bitcoiner skepticism – why some aren’t convinced the law should force merchants to accept BTCAuthoritarian blues – why some are concerned with the Bukele government itself June 12th/Bitcoin Beach Breakdown episode-NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-“The Breakdown” is written, produced by and features NLW, with editing by Michele Musso. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Tidal Wave” by BRASKO. Image credit: APHOTOGRAFIA/Getty Images News, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
07/09/2116m 38s

BREAKDOWN: “Bitcoin at $1,000,000 is a Global Government”

One of the world’s most interesting thinker joins NLW for a wide-ranging discussionThis episode is sponsored by NYDIG.This interview originally aired December 19th, 2020. Balaji Srinivasan is an angel investor and entrepreneur, the former CTO of Coinbase, a former General Partner at Andressen Horowitz and more. In this wide-ranging conversation with NLW, he discusses:How networks are taking a power role once reserved for god and the stateWhy pre-internet institutions will not survive the internet Why bitcoin at $1 million is a global governmentWoke capital vs. communist capital vs. crypto capitalFind our guest online: @balajis-NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-“The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: Oleksii Liskonih/iStock/Getty Images Plus, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
06/09/211h 13m

BREAKDOWN: WTF Is A “Metaverse?”

A reading of David Hoffman’s latest essay for BanklessThis episode is sponsored by NYDIG.On this week’s Long Reads Sunday, NLW reads David Hoffman’s recent essay in Bankless “The Metaverse Emerges” -NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-“The Breakdown” is written, produced by and features NLW, with editing by Michele Musso. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: Michael Stevenson/UIG/Getty Images Plus, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
05/09/2131m 13s

SOB: Is Axie Infinity's Play-to-Earn Economic Empowerment or Exploitation?

Has decentralized gaming just created virtual menial labor?Join hosts Adam B. Levine, Jonathan Mohan and Andreas M. Antonopoulos as they dive into the world of Axie Infinity and the growing global meta economy. Axie Infinity, a Pokémon-esc play-to-earn game on the Ethereum blockchain, has exploded in popularity around the world. The primary user-base has remained grounded in the Philippines as Filipinos from all walks of life buy, borrow, breed, trade and fight in-game NFT characters called “Axies.” These fighting cartoon pets have earned players legitimate money – in some cases, enough to sway workers to quit their jobs to pursue Axie full-time. The pandemic and subsequent lockdowns, especially in places like the Philippines, only make Axie that much more enticing. Individuals and groups with more capital have also snapped on the Axie opportunity in the forms of “scholarships” and lending schemes.Axie Infinity, and in particular, the lending schemes, prompt a larger conversation about the ethical implications of exporting work and the geographic inequality of opportunities. In the best light, lending within play-to-earn can be seen as providing opportunities with profits orders of magnitudes higher than the local economies could provide. Yet, viewing the practice from a different angle, it can be seen as richer countries farming out low-paying work to individuals who have no better options locally.Is Axie Infinity a solution or scam? Will the platform maintain its relevance or fizzle out?See also: Some Filipino Merchants Prefer Payment in Axie’s SLPThis episode featured Adam B. Levine, Andreas M. Antonopoulos and Jonathan Mohan. It was edited by Jonas, our theme song comes courtesy of Jared Rubens and today's music during the break was Delta by Gurty Beats. Today's album art features a photo by Karen Fedida/Unsplash, modified by Speaking of Bitcoin.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
04/09/2143m 32s

BREAKDOWN: Dungeons and Degens - Why Everyone Is Talking About Loot

Is it the insane growth in prices, the wild community world building, or both?This episode is sponsored by NYDIG.On this edition of the Weekly Recap, NLW looks at Loot (for Adventurers), the newest NFT sensation. Unlike the “JPEG” or Avatar NFTs, Loot bags are sets of theoretical items for a theoretical game set in a theoretical fantasy world. Created by one of the co-founders of Vine, Loot absolutely took off this past week, racing to be one of the most traded NFTs, and attracting thousands upon thousands of people to start creating the world around those items. NLW explores what it means for the NFT space specifically and for the competition between digital and physical worlds more broadly.-NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-“The Breakdown” is written, produced by and features NLW, with editing by Adrian Blust. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Tidal Wave” by BRASKO. Image credit: Lorado/E+/Getty Images Plus, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
04/09/2110m 23s

BREAKDOWN: The Official Bitcoin and Crypto Fall Preview

A look at what we can expect around regulations, bitcoin adoption, NFTs, stablecoins and moreThis episode is sponsored by NYDIG.On this special episode of The Breakdown, NLW looks at what we learned over the summer and what the fall holds for different parts of the crypto industry and surrounding spaces, including:The macroeconomic landscapeRegulatory battlesBitcoin NFTsLayer 1 battles CBDCs and stablecoins -NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-“The Breakdown” is written, produced by and features NLW, with editing and executive producing by Adam B. Levine. Our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: Evgen Zaitsev/iStock/Getty Images Plus, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
03/09/2116m 46s

BREAKDOWN: A $1.5T Asset Manager Is Getting Into Bitcoin

As bitcoin hits $50,000 again, more news of institutional adoption and mainstreaming. This episode is sponsored by NYDIG.Today on the Brief:Binance dinged by Singapore authorities while discussing Binance.us going public Former CFTC Chair Giancarlo leaves BlockFi board of directors after only four months SEC takes action against … Bitconnect?Our main discussion: Franklin Templeton has posted a job listing for a crypto trader, while Vast bank now offers bitcoin buying and selling directly from FDIC banking. NLW explores what’s next in the bitcoin market cycle. -NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-“The Breakdown” is written, produced by and features NLW, with editing by Adam Levine and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Tidal Wave” by BRASKO. Image credit: Malte Mueller/iStock/Getty Images Plus, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
02/09/2112m 12s

BREAKDOWN: Bitcoin Payments Coming to Twitter?

A look at the historical context of Bitcoin in Silicon Valley and why today’s news matters.This episode is sponsored by NYDIG.On today’s episode, NLW takes a historical look at Silicon Valley’s relationship with Bitcoin. NLW explores why so many in Silicon Valley missed Bitcoin in the early days, why smart contracts made more sense to them (and fit with their funding model), and what Jack Dorsey’s support of Bitcoin all means. Finally, he uses that context to explain today’s leaked news that Twitter is building Bitcoin payments into its Tip Jar feature. -NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-“The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: farakos/iStock/Getty Images Plus, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
01/09/2115m 31s

BREAKDOWN: DAOs, NFTs and Crypto Derivatives Win Attention as Billionaire Paulson Calls Crypto ‘Worthless’

Today’s news reflects the full breadth of everything happening in the crypto industry.This episode is sponsored by NYDIG.On today’s episode, NLW breaks down a slew of stories that reflect different aspects of the crypto industry:Billionaire John Paulson doesn’t like cryptoFTX US acquires LedgerXSyndicate DAO raises $20 millionLayer 1 battles with Ethereum and Solana Vintage Bitcoin-based “Rare Pepes” get repurposed and sold on OpenSeaTreasury trying to add MORE rules for crypto reporting -NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-“The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: Malte Mueller/Getty Images, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
31/08/2112m 29s

BREAKDOWN: Jack Dorsey Is Building a Decentralized Exchange for Bitcoin

Can Square make DeFi on Bitcoin a thing?This episode is sponsored by NYDIG.Today on the Brief:NFTs have a monster monthCentre's global network of stablecoinsThe Cuban government to recognize cryptoOur main discussion:In July, Jack Dorsey, the CEO of Twitter and payments company Square, announced that Square was launching a new division focused on building decentralized infrastructure around Bitcoin. At the end of last week, we got more details about where Square is starting. The TBD division is going to kick off by building a decentralized exchange focused on bitcoin. NLW explores the reaction. -NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-“The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: Joe Raedle/Getty Images News, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
30/08/2113m 20s

BREAKDOWN: The Weaponization of the Banking System

A reading from Nic Carter shows how payments became a tool of policy.This episode is sponsored by NYDIG.On this edition of Long Reads Sunday, NLW reads Nic Carter’s latest for CoinDesk “OnlyFans Shows How the Banking System Is Politicized.”The piece provides the history of Operation Choke Point and how the legacy of financial weaponization persists to today. -NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-“The Breakdown” is written, produced by and features NLW. Today’s episode was edited by Michele Musso and Rob Mitchell. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Tidal Wave” by BRASKO. Image credit: Peter Dazeley/The Image Bank/Getty Images, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
29/08/2111m 29s

BREAKDOWN: The Race for Stablecoin Transparency

Tether, Circle and Paxos all position for a new regulated stablecoin era.This episode is sponsored by NYDIG.On this week’s Weekly Recap, NLW breaks down the recent history of stablecoins and contextualizes recent news from Tether, Circle and Paxos. Could stablecoin providers be positioning themselves to be the rails of an eventual U.S. digital dollar? -NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-“The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: MirageC/Moment/Getty Images, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
28/08/2113m 52s

BREAKDOWN: What Jerome Powell Said at Jackson Hole

The Fed couldn’t be clearer about continued long term dovish monetary policy. This episode is sponsored by NYDIG.The Kansas City Fed’s annual Jackson Hole Economic Symposium is sort of like TED for Central Bankers. In the lead-up to this year’s event, the conversation has been totally focused on whether or not Fed Chair Jerome Powell would signal a beginning of tapering of dovish support. NLW breaks down the expectations and Powell’s words to glean a picture of the monetary policy likely to come. -NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-“The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Tidal Wave” by BRASKO. Image credit: Michael Nagle/Bloomberg/Getty Images, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
27/08/2111m 23s

BREAKDOWN: The World Economy's 'Transitory' Supply Chain Issues Don't Seem so Transitory After All

An exploration of the history of global supply chains provides insight into just how fast – or slow – the return to normal may be.This episode is sponsored by NYDIG.First, on the Brief:Bitcoin hash power coming back onlineA new millionaire testing out cryptoAn emerging music tokenization platformBitcoin saw a significant drop in hashrate after China’s mining bans. The network accordingly implemented its largest difficulty adjustment, a parameter to adjust incentives for mining, to date. Has this adjustment worked?In investments, Simon Nixon, one of the winners of the dot-com bubble, has emerged as the newest millionaire to delve into crypto. Last on the Brief, Royal announced a $16 million raise for its music tokenization platform, the aim of which is to give more power to the artists when it comes to royalty rights.In the main discussion: With inflation on the minds of many economists and consumers, the Federal Reserve pushed a “transitory” narrative while pinning the blame on supply chain issues. Looking back at the history of supply chains reveals why COVID-19 broke the global goods network. Are the supply chain issues going to be as transitory as the Fed hopes?-NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-“The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: MR.Cole_Photographer/Moment/Getty Images, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
26/08/2115m 14s

BREAKDOWN: Why Crypto Is Skeptical of Treasury's Assurances That We Should Trust It on Infrastructure Bill

The U.S. Treasury claims it will not target non-brokers, though the language of the bill differs with that claim.This episode is sponsored by NYDIG.First, on the Brief:OnlyFans’ reversal of its decision to ban sexuually explicit contentBudweiser’s NFT Twitter profile pictureThe U.K.’s warnings to BinanceLast week, OnlyFans announced it would ban sexually explicit content from its platform, citing three major banks that had refused service because of “reputational risk.” Today, the company suspended the policy change and lauded the community’s rallying support for creators who use the platform. Will larger financial institutions continue to put pressure on OnlyFans or other platforms to make them more “moral”?Budwieser is the latest to follow Visa’s footsteps into the NFT domain. The beer maker announced it bought a rocket ship from NFT artist Tom Sachs’ Rocket Factory. Last on the Brief, specifics of the U.K.’s quarrels with Binance have been released, primarily centered around a lack of supervision capabilities.In the main discussion, NLW addresses a new angle to the infrastructure bill. The Treasury has claimed that it will not target non-brokers, like miners, even if the bill’s language includes them. Can the crypto community trust the Treasury’s statements of goodwill?-NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-“The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: Shawn Thew/EPA/Bloomberg, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
25/08/2113m 31s

BREAKDOWN: Citi to Trade Bitcoin Futures?

Citigroup is the latest in a stream of institutional adoption into everything from NFTs to BTC.This episode is sponsored by NYDIG.On this episode of “The Breakdown”:Surveys and reports detailing expected institutional adoptionCitigroup to trade on the CMEGlobal perception of crypto, CBDCsNFT and DeFi on the riseBitcoin news from Michael Saylor, Blockstream and SubstackRecent reports from Deloitte and Nickel Digital help set institutional and general public adoption expectations. Of 23 asset managers surveyed by Nickel Digital, more than half expected to increase crypto asset exposure by 2023, and a quarter to increase dramatically. Citigroup is one such investment company toying with BTC as the firm says it will trade bitcoin futures on the CME.From the global perspective, a Politico survey of U.K. adults revealed a distrust and misunderstanding of CBDCs, while in India, retail crypto investment is up with young citizens looking for alternative ways to make money after strict COVID-19 lockdowns.Visa’s CryptoPunk purchase fueled an NFT-buying frenzy, resulting in a daily sales volume record for Punks. DeFi on the whole, however, remains powered by experienced crypto enthusiasts, as the technological barrier to entry remains. Will NFTs bring more of the general population into DeFi?Bitcoin’s rally above $50,000 this past weekend was bolstered by institutional news: Michael Saylor’s MicroStrategy’s latest purchase of BTC, Blockstream’s $210 million Series B funding round and Substack’s implementation of bitcoin as a payment option using the Lightning Network. Who’s next? -NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-“The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Tidal Wave” by BRASKO. Image credit: Brent Lewin/Bloomberg/Getty Images, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
24/08/2110m 57s

BREAKDOWN: Visa Buys a Punk as Bitcoin Returns to $50K

Is it a marketing stunt or the beginning of a wave of institutional interest in NFTs?This episode is sponsored by NYDIG.Late Sunday evening, bitcoin pushed above $50,000 for the first time in three months. Overall BTC is up 46% in the last 30 days. NLW explores arguments that this move has been spot driven and connected to institutions and whales. He also looks at the potential implications of the Federal Reserve’s Jackson Hole meeting later this week. In the second part of the show, he looks at the news that has Crypto Twitter on fire: Visa bought a CryptoPunk. The purchase, executed for around $150,000, is being maligned by some as a marketing stunt, while others see it as heralding a new era of institutional purchases of non-fungible tokens. NLW looks at both sides and ultimately argues that neither is exactly correct. Instead, it seems to be about inserting Visa’s business into a new digital market. -NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-“The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: Alexi Rosenfeld/Getty Images Entertainment, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
23/08/2113m 39s

BREAKDOWN: Why Time Is the Ultimate Scarce Asset

A reading of two recent threads from crypto VCs on creator coins, NFTs and more.This episode is sponsored by NYDIG.This week, “Long Reads Sunday” returns to its Twitter roots with a reading of two threads from crypto VCs. The first comes from Andreessen Horowitz’ Chris Dixon and the second from Kyle Samani of Multicoin. Together, they paint a picture of the emerging landscape of experiments around non-fungible tokens, creator coins, the metaverse and discuss the idea of time scarcity as a key determinant of value. -NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-“The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Tidal Wave” by BRASKO. Image credit: PM Images/DigitalVision/Getty Images, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
22/08/2115m 32s

SOB: Ethereum, Bitcoin; Hard Fork, Soft Fork: How Decentralized Change Is Made

Ethereum’s London hard fork, also known as EIP 1559, took place on Aug. 5. The backwards-incompatible upgrade reignited community debate over hard forks, soft forks and the best methods – most foolproof, least polarizing – to bring about change to a network.Join hosts Adam B. Levine, Jonathan Mohan and Andreas M. Antonopoulos as they explore the various ways in which consensus has been reached recently across the two largest protocols. The differences in technology and underlying philosophy means some solutions are more enticing to Ethereum and others to Bitcoin.Ethereum maintains a so-called “difficulty bomb,” whose fuse is lengthened with every upgrade. If it ever goes off, miners would face exponentially harder work and proportionally diminished rewards, forcing them to switch from the pre-fork chain to the upgraded one. Bitcoin’s equivalent to the difficulty bomb, the User Activated Soft Fork (UASF), accomplishes the same thing by other means. Are these mechanisms the proverbial ‘Chekhov’s Gun,’ inevitably to be used in some later act, or simply empty threats to coerce miners into compliance?Listen to this episode of “Speaking of Bitcoin” for an in-depth explainer of how wide-spread change occurs across decentralized networks and what changes might be in store for the future.-This episode featured Adam B. Levine, Andreas M. Antonopoulos and Jonathan Mohan. It was edited by Jonas, our theme song comes courtesy of Jared Rubens and todays music during the break was Sloth Beats by Gurty Beats. Today's album art features a photo by Anita Jankovic/Unsplash, modified by Speaking of Bitcoin. Have any questions or comments? Send Adam an email at adam@speakingofbitcoin.showSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
21/08/2133m 12s

BREAKDOWN: Why Is the Fed so Scared of Stablecoins?

Last month’s FOMC meeting minutes show crypto and stablecoins came up for the first time ever as an official topic at a key Federal Reserve meeting. This episode is sponsored by NYDIG.On this edition of “The Breakdown’s Weekly Recap,” NLW looks at:News that Brian Brooks left Binance.US after a fundraise proved unsuccessful Why Coinbase is investing $500B in crypto The Fed’s discussion of stablecoins at last month’s FOMC meeting Which nations rank atop Chainalysis’ new adoption index -NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-“The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: Al Drago/Bloomberg/Getty Images, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
21/08/219m 9s

BREAKDOWN: What's Really Going on With OnlyFans and Payment Censorship

The company is eliminating sexually explicit content after pressure from payment processors. This episode is sponsored by NYDIG.The tyranny of payment processors as moral barometers strikes again. On Thursday, Axios revealed that OnlyFans was struggling to raise money from outside investors despite being on track to make more than a billion dollars this year. Later in the afternoon, OnlyFans announced it is eliminating sexually explicit content from its platform. The internet was agog, given that OnlyFans’s success is almost entirely based on sexually explicit content. In this episode, NLW explores the variety of things going on behind the scenes, connects the dots to Chase Bank’s shutdown of Compass Mining’s accounts and argues that payment processors shouldn’t be in charge of societal decisions about what free people are allowed to do. -NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-“The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Tidal Wave” by BRASKO. Image credit: Gabby Jones/Bloomberg/Getty Images, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
20/08/2117m 32s

BREAKDOWN: DeFi Grows in Institutional and Regulatory Importance

SEC Chair Gary Gensler focused on DeFi in a recent interview.This episode is sponsored by NYDIG.First, on the Brief:Banks and bitcoin Coinbase’s cash reservesBrian Quintenz’s CFTC departureIn the main discussion, NLW addresses decentralized finance’s (DeFi) place in regulations as crypto continues to be on the minds of policymakers. Contention across U.S. regulatory bodies remains as the Federal Reserve’s concern with stablecoins, the Treasury Dept. with the infrastructure bill and the Securities and Exchange Commission’s Gary Gensler attempting to create the broadest reach on crypto regulations his organization can manage.In The Wall Street Journal’s recent interview with Gary Gensler, the SEC chair claimed a particular focus on DeFi. He stated that core software developers, promoters and sponsors would be centralizing factors, calling the term DeFi a “misnomer.”How will DeFi’s future unfold as it becomes increasingly important for both investors and regulators?-NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-“The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: Feodora Chiosea/iStock/Getty Images Plus, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
19/08/2113m 12s

BREAKDOWN: Is Twitter Getting Serious About Decentralized Social Media?

Big Corporate is taking steps to implement decentralized technologies.This episode is sponsored by NYDIG.On this episode of “The Breakdown:”Corporate dips into decentralized media, starting with Twitter and TikTokRegulatory difficulties continue for BinanceCrypto on the minds of Congress and the SECBig corporations have been seeing crypto not just as a hype machine, but as a technological update opportunity. Twitter, for example, has found a new lead for its decentralized social media group Bluesky. TikTok has similarly dipped into decentralized media as it struck a deal with decentralized music app Audius. Which platforms will take on crypto next?Binance continues to come under regulatory scrutiny with the Netherlands as the latest country to issue a warning to the company. Even after CEO Brian Brooks left the company citing “differences in strategic direction,” Binance founder Changpeng “CZ” Zhao claims to continue to search for regulatory-minded people to join the company’s ranks.Regulatory focus continues in the U.S. as well, with members of the Securities and Exchange Commission, Commodity Futures Trading Commission and Congress hosting opposing opinions on how to regulate crypto. The disagreements continued this week, including a statement from the Fed’s Neel Kashkari bashing crypto and a letter from two congressmen requesting clarity from the SEC and CFTC. Will U.S. authorities ultimately come to an agreement on the best path forward?-NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-“The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Tidal Wave” by BRASKO. Image credit: Cole Burston/Bloomberg/Getty Images, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
18/08/2114m 14s

BREAKDOWN: Innovation vs. ‘The Big Short’ – Cathie Wood and Michael Burry's Battle Frames the Potential Futures of Markets

The investors’ opposing beliefs will soon be proven right or wrong as markets respond to inflation.This episode is sponsored by NYDIG.Investors Cathie Wood and Michael Burry are predicting opposing outcomes for the recent high inflation rate. On this episode of “The Breakdown,” NLW explores:Michael Burry’s background and principlesCathie Wood’s ARK Investment and its strategiesBurry’s bet against ARKMichael Burry, the main subject of “The Big Short,” has built his career betting on bubbles. Notably, he shorted Tesla in 2020 and took a negative stance against Elon Musk’s bitcoin boasts. He predicted an upcoming “mother of all crashes” for crypto, which has yet to occur.On the other end of the spectrum is Cathie Wood, long-time Tesla supporter and champion of bitcoin on Wall Street. Her fund, ARK Investment, focused on disruptive tech innovation and 2020 saw her flagship exchange-traded fund rise to become the world’s largest.Their opposing strategies have reached a critical point as news broke that Burry has shorted ARK, prompting Wood to launch into a Twitter thread to defend her fund’s beliefs. Only time and markets will be the judge of which investor’s fundamentals win in the end.-NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-“The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: Astrid Stawiarz/Stringer/Getty Images Entertainment and Alex Flynn/Bloomberg/Getty Images, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
17/08/2115m 5s

BREAKDOWN: WTF Happened in 1971? (And in Afghanistan?)

Big-picture power shifts from the past, present and future shape the financial world.This episode is sponsored by NYDIG.On this episode of “The Breakdown,” host NLW takes a step back from the nitty-gritty of markets and politics to examine current events from the global macro perspective, including:The 50th anniversary of the “Nixon Shock” – aka the end of the gold standardAfghanistan news and the fall of KabulThis weekend marked the 50th anniversary of when President Richard Nixon decoupled the USD from the gold standard. That event in 1971, which upended the world of finance, contributed in a large way to the rise of cryptocurrencies.The site “WTF Happened In 1971?” has chronicled the impacts of Nixon’s decision in the years since with extensive data covering wages, productivity and more. Can 50 years of financial transformations be traced back to one event?In global news, the Afghan government’s struggle against the Taliban has reached a critical point as Taliban forces have taken Kabul, the capital. The news comes after the U.S. withdrew its troops after a 20-year war. This global event is bound to affect the financial system, but it also has ties to cryptocurrencies as they are a new, completely external tool to provide citizens in tumultuous regions agency over their money in a way that has never been possible before. -NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-“The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: Paula Bronstein/Stringer/Getty Images News, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
16/08/2115m 34s

BREAKDOWN: Why Bitcoin Matters in Nigeria and Iraq

A reading of two essays from crypto voices around the world. This episode is sponsored by NYDIG.On this week’s “Long Reads Sunday,” NLW reads:“How Crypto Can Help Nigeria’s Economy” by Olumide Adesina“The Inevitability of Crypto in Iraq” by Abdurrahman Bapir-NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-“The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: Golden_Brown/iStock/Getty Images Plus, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
15/08/2113m 36s

SOB: The Expert Incentive, or ‘God Save the King of Kong'

On today's episode of Speaking of Bitcoin, correspondent George Frankly explores the expertise paradox through the lens of two very different historical figures.TRANSCRIPTHello there- I'm George Frankly and I'm going to take a look at how even the best and brightest people can make truly stupid decisions and terrible predictions- and what we can learn from them. This is Dare to be Stupid.This time on Dare to be Stupid, “The Expert Incentive,” or “God Save the King of Kong.”I’m not looking forward to this. I loathe misinformation. I loathe innumeracy. And before anybody asks what the word innumeracy means let me say I also loathe illiteracy. The world needs experts and experienced professionals in positions of power, now more than ever- I firmly believe that.So it honestly sucks that I’ve decided to sit here today and tell you that expertise is dangerous.  Experts are a complicated concept, and despite agreeing on the broad strokes of the word we all have granular disagreements in what being an “expert” actually means. I want to get into the nitty-gritty of where expertise goes right and wrong by talking about two sides of the same coin- two closely-intertwined experts in their respective fields: 18th century Hungarian scientist and medical physician Ignaz Semmelweis, and 20th century professional Donkey Kong player and Hot Sauce Entrepreneur Billy J. Mitchell. I absolutely cannot tell the story of one without the other.As a dedicated fan of both men, it’s hard to know where to begin. Semmelweis was an expert that pioneered the earliest concepts of germ theory, and Mitchell is an expert that cheats at the 1981 arcade game Donkey Kong for money.The key difference is that Semmelweis’s fellow experts insisted he was a fraud, and Mitchell’s contemporaries insisted for years that he wasn’t.Ignaz Semmelweis studied law, science, and medicine at the University of Vienna and made his mark on history working at the obstetrics clinic in Vienna General Hospital. There, he was frustrated by the high rates of maternal mortality in the clinic. The death of mothers by post-childbirth fever was uncomfortably common, and he wanted answers. Infection and germ theory were not yet understood concepts, so all he had was deductive reasoning and experimental design- that thing your middle school teachers called “the scientific method.”The immediate observation that spurred him forward was the most confusing one. The mortality rate for new mothers was as high as 15% in the practicing doctors’ ward… but in the next ward over, which was staffed by traditional midwives instead of university-educated doctors… the average mortality rate was under 5%. The rate of contracting fatal childbed fever was three times higher in the clinic run by the elite doctors than in the clinic run by the supposedly-unprofessional midwives. He was certain that if he could isolate the cause of the lower rates, he could adapt it into the other clinic and save lives. I’ll give you a hint: he was right. But we’ll get to that.Billy Mitchell is an icon. An icon of what varies from person to person, but he is nonetheless iconic. For over 25 years he’s rarely been seen without a sharp suit, loud American flag necktie, and a magnificently coiffed, flowing mane of hair. He was one of the earliest faces of video game world records- a massive hobbyist sport of competing for the fastest times and highest scores in arcade and home video games.Mitchell rose to fame with his record of the world’s first perfect Pac-Man score in 1999 and further for his world record high score in Donkey Kong. The 2007 documentary The King of Kong: A Fistful of Quarters chronicled his dramatic victory and cemented his public image as a fierce competitor… and a bit of a cinematic villain.  His personal ties to the company that officiated and validated the scores allowed him to skirt a lot of the scrutiny that other competitors faced. Whereas most world records had to be achieved in a public exhibition on inspected hardware… Mitchell was able to turn in a fuzzy VHS tape of his record Donkey Kong run at home and had it accepted on the spot. The suspicion soon boiled over, and by 2018 multiple detailed technical analyses found that Billy Mitchell… had cheated.170 years previously, Dr. Semmelweis had catalogued several differences and tested their correlations over many long months. Midwives delivered with women on their sides- he had doctors move women to their sides. No effect. Patients in the doctors’ ward were regularly visited by Priests with loud bell-ringing attendants. He had them ditch the bells. No effect.  But then, inspiration struck. One of his coworkers died. Wait, that sounds terrible. No wait, it is terrible. But, grim or not, it gave him a lead: a fellow research doctor had accidentally lacerated his own hand while performing an autopsy, and succumbed to rising temperature and death identical to the stages of childbed fever. The link to the autopsy was a bit circumstantial, but Semmelweis noted that nearly all of the Doctors in his ward did routine autopsy research- the midwives never handled cadavers.  He had a frankly absurd theory. He suspected there were “fine cadaverous particles” (in his words) being transmitted to vulnerable women and causing the illness. Midwives were rarely exposed to corpses and routinely rinsed their hands with hot water and soap, so he adopted a similar process: doctors in his ward would regularly rinse their hands and tools in a chlorinated lime solution- weak bleach, essentially. He guessed- very luckily- that the chlorine solution’s ability to cleanse strong odors meant it might remove his mystery particles. He had discovered germs and then disinfectants- long before either could be fully explained.The maternal mortality rate in his ward eventually dropped under 2%- and at a few points even went entire months with no deaths. He brought his method to his next hospital posting, where rates dropped from 10% to less than 1%. He soon wrote a paper about his findings and began to distribute it across the region.  It was widely and aggressively rejected. Semmelweis’s core thesis of “please wash your goddamn hands” went against all of the expert consensus. His insinuation that it was Doctors- academics and experts every one of them- Doctors that were spreading childbed fever was considered insulting, hostile, and an affront to their authority. His hand-washing solution was seen as little more than magical thinking without scientific merit, and the medical establishment shunned him. He eventually died in a mental institution of complications from a hand injury- the exact same fever he had railed against. It wasn’t until decades later that he would be vindicated by Louis Pasteur’s seminal work on germ theory, and the history books have proven kinder to him than… well, kinder than history itself was.In the 21st century, Billy Mitchell faced the opposite problem. A small but vocal group of analysts and programming experts had found ultra-fine discrepancies in his world record video. At first, coding experts found that Mitchell’s luck was supernaturally high- the random elements of the game were suspiciously generous during the recording. Soon they found that split-second variations in how the ladders and girders of Donkey Kong’s stages loaded onscreen didn’t match the display of real arcade hardware; in fact it perfectly matched the behavior of PC emulator software. Mitchell had essentially pulled off his miracle run on a home computer simulation of the game, with access to limitless modifications and instant do-overs.  But Billy Mitchell was unbowed. The highly-technical evidence struck many as unconvincing. More than that, Mitchell and his fans touted a bigger point: he wouldn’t need to cheat. Billy Mitchell had numerous public performances of extremely good Donkey Kong runs. He knew all the ins and outs of the game. Billy Mitchell was, indisputably, an expert at the game of Donkey Kong. Why would an expert bother to cheat?Ignaz Semmelweis was called a fraud because he defied the experts. Billy Mitchell was called the real deal because he was an expert. By most definitions, all these experts are experts. Why did expertise choose the wrong side of history both times?That’s easy. They’re all people. And being an expert doesn’t cure you of common reasoning errors- in fact, it can teach you all-new ones.The doctors weren’t just guided by simple egotism, although that was definitely a factor. No, they fell into something that sociologists have begun to call “the expertise paradox.” Specialists in a field- including the very best in their fields- inevitably develop tunnel vision. Hyper-specialization in a field or an industry begins to close them off to outside knowledge. To a man with a hammer, every problem is a nail: to a man with a prestigious medical degree in 1830, microbiology looks like magical bullshit.  Innovation rarely grows from within a rigid institution, much less its tenured experts: hell, Donkey Kong, a groundbreaking arcade game that revitalized and revolutionized video games, didn’t come from the established pioneers at Atari. It was made by upstart toy company Nintendo, and wasn’t even designed by a professional coder- it was created by Shigeru Miyamoto, an aspiring cartoonist. In all trades, in all workplaces, and at every age, cross-training and cross-disciplinary learning is vital. The best discoveries come from those who are hungry to learn, not those who sit soaking in what they have learned.Hunger to learn versus hunger to be learned can be seen in every technical field- if you went to college for a specialized subject you’ve seen it. There are the masters who can recite every equation, muscle group, and atomic mass- the rote learners. And then there are the masters who dig into comprehension and mechanisms- the ones that can derive the equations, visualize the function of each muscle group, and see how the atomic weight informs the material properties.  Expert decision-making can easily degenerate into fast-thinking repetition from muscle memory. The chess master Herbert Simon criticized the glorification of expert intuition when he said: QUOTE “The situation has provided a cue; this cue has given the expert access to information stored in memory, and the information provides the answer. Intuition is nothing more and nothing less than recognition.” END QUOTESemmelweis wanted more than memorizing and reciting answers: he wanted to understand. He experimented and extrapolated and went wherever it took him. At the end of the day he was a scientist first and a doctor second- and many of his colleagues were barely doctors at all.So what of Billy Mitchell’s grand defense? Why would an expert cheat?Because experts are the most effective cheaters. In any competitive arena, the most successful cheats and cons are inevitably done by the ones that best know the craft. Gaming speed-runner and historian Karl Jobst put it best;QUOTE “You might think that having the talent to achieve a world record would make someone less susceptible to cheating, but it often works against them.”  “They feel like they deserve the world record, and when the game they play doesn’t give them the luck they need, they become increasingly frustrated. On top of this, having talent and deep knowledge of a game makes you a better cheater. You know what tools to use and how to hide your edits. You understand what does or doesn’t make sense, what is or isn’t possible, and what’s believable. When top players cheat, it’s almost always detected by other top players looking much deeper than a normal spectator might.”“The fact that better players make better cheaters means that arguments such as ‘he’s such a good player, he has no reason to cheat’ are fundamentally flawed.” END QUOTEThe incentive to prove and protect your expertise can undermine it in an instant. Billy Mitchell was routinely within spitting distance of the world record, so he employed his expertise to just take it. The fact that he could have theoretically done it for real was all the justification he needed. Semmelweis’ peers worked too hard to get where they were to let an upstart with wild ideas make them feel inferior. They were doctors- to think they were making people ill was an insult to their entire identities.  Experts are hugely important- vital, even, to all of society. But their self-perception and public perception can lead them down dangerous paths: experts are not inherently geniuses, and, like any human being, they are not perfect or infallible. The best experts are constantly looking to expand their understanding, and the worst are constantly trying to prove their worth. Both kinds will make mistakes, but only the former will admit to them and learn from them. Every human being has a range of their own expertise and must govern themselves similarly: respect the limits of your own knowledge, be grateful to those who can fill in the gaps, and don’t put anyone on a pedestal… especially yourself.Thanks for listening. As usual I’d like to remind you that all of my illustrious job titles come with the prefix “armchair”; if you’re an expert, and you’re hearing me get it wrong, I’d like to hear from you.-This episode was written, performed and edited by George Frankly with additional production support by Adam B. Levine. Our theme song comes courtesy of Jared Rubens and this episodes album art features a photograph provided by Kelly Sikkema/Unsplash, modified by Speaking of Bitcoin. Have any questions or comments? Send Adam an email at adam@speakingofbitcoin.showSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
14/08/2112m 37s

BREAKDOWN: Is the US Government at War With Itself Over Crypto Regulatory Authority?

Between the CFTC, the SEC, the Treasury Department and Elizabeth Warren, there are a lot of cooks in the U.S. regulatory kitchen. This episode is sponsored by NYDIG.On this week’s “Breakdown Weekly Recap,” NLW looks at some reported emerging tension around which U.S. regulatory body holds authority over crypto. The U.S. Treasury has revealed its heavy hand in the infrastructure bill process, and it isn’t the first Treasury Department to have a problem with crypto. SEC Chair Gary Gensler is asking Sen. Elizabeth Warren for more authority for his organization. Meanwhile, the CFTC is publicly saying regulatory authority lies with it, not the SEC. -NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-“The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Tidal Wave” by BRASKO. Image credit: Andrew Harrer/Bloomberg/Getty Images, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
14/08/2113m 7s

BREAKDOWN: These North American Bitcoin Firms Mined 59% More Bitcoin in July

Growth in North American mining is just one of the things driving a return of a bullish mood across the industry. This episode is sponsored by NYDIG.On this episode of “The Breakdown:”Bitcoin mining bumpCoinbase’s massive Q2 earnings and more institutional newsCrypto tax companies popping upNorth American bitcoin mining companies saw a significant increase from the previous month. Contributing to this increase is the downward difficulty adjustment, a built-in and automatic Bitcoin feature that incentivizes more miners to join the network. The adjustment came after China’s crackdown on their miners and a subsequent drop in hashrate. Is this mining success bullish for bitcoin?Coinbase’s Q2 earnings report revealed a successful quarter with a bigger portion of trading volume attributed to institutional over retail. Additionally, ethereum surpassed bitcoin in trading volume for the first time. Will these trends continue?With regulatory pressure on the horizon, several new crypto tax companies are being formed (and venture capital-backed) to fill the gap. Crypto presents new complexities for reporting and the tax implications of the U.S. infrastructure bill are imminent. Will these companies be able to find a solution when it’s tax time?-NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-“The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: eclipse_images/iStock/Getty Images Plus, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
13/08/2111m 30s

BREAKDOWN: Turning Point – The Crypto Industry's Battle Against the Infrastructure Bill, Feat. Jake Chervinsky

Blockchain Association member and crypto lawyer Jake Chervinsky gives the insider view of a monumental moment in crypto history.This episode is sponsored by NYDIG.Jake Chervinsky is the general counsel for Compound Labs and DeFi lead at the Blockchain Association. Over the last few weeks he has been deeply involved in the battle against the onerous crypto provision in the infrastructure bill. In this discussion with NLW, Jake provides a blow-by-blow overview and insider's account of the battle, from first learning of the provision to the moment that a senator’s special interest broke the bill. Finally, they discuss what the legacy of this event will be for the crypto industry and why we’re likely to be stronger now than ever. -NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-“The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Tidal Wave” by BRASKO. Image credit: uzenzen/iStock/Getty Images Plus, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
12/08/211h 8m

BREAKDOWN: The Bull Market Is Back on the Menu! (Did It Ever Leave?)

While the explanations may vary from NFT excitement to regulatory FUD diminishing, crypto markets agree that good times are here again. This episode is sponsored by NYDIG.On this episode of “The Breakdown,” NLW covers bull market indicators, including:Investment firms reporting positive market signalsContinued NFT boomMarkets ignoring outdated FUDBoth NYDIG and Arca released reports detailing their perceptions of positive market signals towards a bull run. Signs included Grayscale GBTC unlocks, institutional interest and risk appetite.The NFT bubble has not burst. Capital continues to flow into the space and digital art collections like Crypto Punks have shot up in value, exceeding even the previous March highs. Crypto seems to be rolling over FUD: Tether’s additional backing clarity and BitMEX’s nine-figure settlement helped to ease uncertainties in markets over regulations. China’s crypto crackdown and the subsequent Great Hashrate Migration caused little impact. Even the Poly Network’s $600 million hack this week made no dent to prices.Is Bitcoin’s “defiance rally” part of a bigger bull run?-NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-The Breakdown is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: Overearth/iStock/Getty Images Plus, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
11/08/2113m 37s

BREAKDOWN: Compromise Provision Tanked by Near-Retiree, but Crypto Shows DC It's Here to Stay

Crypto is entering a new era of relevance in mainstream political discourse.This episode is sponsored by NYDIG.The compromise amendment to the crypto provision in the infrastructure bill was shot down in the Senate yesterday. On this episode of “The Breakdown,” NLW covers what’s happened, what’s next and what it all means, including:The compromise’s demiseNext stop: The House of RepresentativesCrypto’s newfound relevance in political discourseThe compromise – proposed by Senators Lummis and Toomey, and backed by Treasury Secretary Janet Yellen – was rejected by a single senator. The amendment would have required unanimous consent but was tanked by Alabama Republican Sen. Richard Shelby over an unrelated dispute on additional military funding. The bill now moves to the House where it will be deliberated more, though it is unclear how much room there will be for modifications once it gets there. Emerging crypto-friendly lawmakers continue to push to improve the broker definition within the provision.The infrastructure bill saga represents the first act in crypto entering the highest echelons of political discussion in the U.S. Instead of pushing quiet legislation through, this crypto provision gave the industry an unprecedented platform and relevance in the eyes of lawmakers. Will crypto be a key issue for lawmakers in the future?-NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-The Breakdown is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Tidal Wave” by BRASKO. Image credit: Chip Somodevilla/Getty Images News, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
10/08/2114m 14s

BREAKDOWN: Bitcoin Rallies Defiantly as Senate Infrastructure Battle Hits a Snag

Crypto proves to be a formidable opponent as debate in the Senate continues.This episode is sponsored by NYDIG.Contention over the crypto provision in the infrastructure bill continues. Today on “The Breakdown,” NLW brings the latest, including:Consensus mechanism confusionA weekend stalemate The emergent power of the crypto industryThe amendment proposed by Sen. Rob Portman included an odd preference for proof-of-work over any other consensus mechanism. After significant pushback from the crypto community on this specific detail, the amendment was changed to cover all consensus mechanisms. But in a head-scratching turn of events, the amendment was updated once more to include proof-of-work and proof-of-stake, but no other mechanisms.Sunday came with its own set of blockers, including a conflict around prioritization of the crypto provision versus other legislation that needs attention. Though the weekend brought little resolution, the debate continues and there is still time for a positive resolution. Will policymakers come to an agreement on one of the proposed amendments in time?-NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-The Breakdown is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: Overearth/iStock/Getty Images Plus, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
09/08/2115m 57s

BREAKDOWN: What Happens if the Dollar Loses Reserve Currency Status?

A 101-level look at what it means to be the global reserve currency and what it would mean for the U.S. dollar to lose that standing.This episode is sponsored by NYDIG.On this week’s “Long Reads Sunday,” NLW reads David Z. Morris’ “The End of Exorbitant Privilege: Inflation, the Global Dollar and What Comes Next,” which covers inflation’s potential impact on the status of the USD.-NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-The Breakdown is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Tidal Wave” by BRASKO. Image credit: blinow61/iStock/Getty Images Plus, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
08/08/2114m 57s

SOB: Stoner Cats Chaos and The Mainstreaming of NFTs

NFTs are emerging as the path from insular crypto community to a breakthrough in mainstream culture. Blockchain technology and pop culture collide to produce new possibilities for the future of art and beyond.The question is, will NFTs prove to be valuable enough to endure beyond the hype?“Stoner Cats,” a new animated series featuring top Hollywood talent (and Ethereum inventor Vitalik Buterin) successfully used a non-fungible token (NFT) sale to leapfrog the financial gatekeepers in Hollywood. With a cast list including Mila Kunis, Ashton Kutcher, Chris Rock and Seth MacFarlane, it is no wonder the campaign raised over $9 million in just a few hours.Join hosts Adam B. Levine, Stephanie Murphy and Jonathan Mohan as they pick apart the ”Stoner Cat” ambitious and novel approach to the production of an independent animated series. This project is one example of many in NFTs proving their worth beyond just the art: They are now status symbols, pop culture phenomena and a viable financial tool.The “Stoner Cats” NFT launch, though eventually fruitful, began with a set of stumbles. As prospective buyers lined up to the launch, Ethereum gas fees quickly skyrocketed and some paid more than five times the price in fees. While the implementation of this kick-starter style of on-chain fundraiser could be improved, “Stoner Cats” proved it was possible.This episode features Adam B. Levine, Stephanie Murphy and Jonathan Mohan. This episode was edited by Jonas, features music by Jared Rubens and Gurty Beats with additional production support from Eleanor Pahl. Image credit: StonerCats.com, modified by Speaking of BitcoinSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
07/08/2127m 40s

BREAKDOWN: 'Crypto IS Macro Now' – Raoul Pal on Bitcoin, DeFi and the Transformation of Power

Real Vision CEO Raoul Pal joins NLW for a discussion of a financial environment defined by change.This episode is sponsored by NYDIG.On today’s episode, NLW is joined by Raoul Pal. Raoul is the founder and CEO of Global Macro Investor and Real Vision, whose Real Vision Crypto community has raced to more than 100,000 after launching earlier this year. They discuss:The U.S. infrastructure bill and the increase in regulatory pressureThe current state of inflation and why markets disagree about its impactWhy transformation and technological change are the main forces shaping markets and society Why DeFi is particularly threatening to central banksWhy Janet Yellen is the embodiment of the central bank and the federal government coming together The real future of NFTs -NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-The Breakdown is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: Nuthawut Somsuk/iStock/Getty Images Plus, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
07/08/2148m 2s

BREAKDOWN: White House Unveiled as Puppet Master as New Amendment Threatens Crypto Industry

The administration’s public support of a restrictive amendment calls into question the original motives of the crypto provision.This episode is sponsored by NYDIG.The infrastructure bill-related surprise in the U.S. Congress came in the form of a competing amendment with a short list of exemptions from the original language. On this episode of “The Breakdown,” NLW addresses the latest updates on the bill, including:White House support of the Portman, Warner and Sinema amendmentProof-of-work prioritizationThe future of the billThe White House claimed support of the Portman, Warner and Sinema competing amendment, citing its ability to strengthen tax compliance in the crypto industry. Crypto advocates have been quick to call out the intentional gaps in the amendment’s language as well as the clear lack of technological understanding.The proposed amendment specifically excludes proof-of-work mining from the reporting requirements, a surprising stance compounded by the fact that the language itself seems to misunderstand the difference between validation and mining. Some Bitcoin maximalists rejoice at their preferential treatment over proof-of-stake networks like Ethereum, but it remains unclear whether this amendment would protect even Bitcoin in the long term.If the amendment were passed, the bill itself would not go into effect until 2023. Organizations like Fight for the Future are creating resources for crypto allies to contact their senators. If the amendment passes, how will crypto adapt? -NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-The Breakdown is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Razor Red” by Sam Barsh. Image credit: Alex Wong/Getty Images News, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
06/08/2117m 44s

BREAKDOWN: With EIP 1559, Has ETH Become Ultra-Sound Money?

Beyond just the meme, what consequences will the London hard fork have to investor perception of the Ethereum network?This episode is sponsored by NYDIG.On today’s episode of “The Breakdown,” host NLW discusses:Proposed amendments to the infrastructure billNotable EIP 1559 changes“Ultra-sound” money meme explainedAmendment proposals came from a variety of political figures, including Sen. Ted Cruz’s bid to scrap the crypto provision altogether. A more realistic option, however, came from Sens. Wyden, Toomey and Lummis, who chose to insert a definition excluding non-custodial intermediaries.In the main discussion, the London hard fork to Ethereum took place early this morning. The changes aimed to improve the user experience on the network and included the introduction of a maximum bidding tip, increased block size in times of high demand and the change to burn the base fee.The base fee burning modification has sparked conversation about a potentially powerful side effect. In new EIP-1559 transactions, the protocol will burn the ETH used for to pay the base fee. If more ETH is burned this way than is issued, it will make ETH deflationary.  If bitcoin’s fixed supply constitutes “sound money,” does ether’s declining supply “ultra-sound?”-NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-The Breakdown is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: Zoltan Tasi/Unsplash modified by CoinDesk, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
05/08/2117m 28s

BREAKDOWN: What’s Really Behind SEC Chairman Gary Gensler’s Crypto Speech

Crypto Twitter cannot decide the impact of Gensler’s comments, while others still push to focus on the infrastructure bill.This episode is sponsored by NYDIG.SEC Chairman Gary Gensler’s speech at the Aspen Security Conference has Crypto Twitter in a frenzy. On this episode, NLW covers the latest in regulatory action, including:Infrastructure bill updateOverall take of Gensler’s speech: hostile or bullish?More concerning crypto oppositionGary Gensler’s “Remarks Before the Aspen Security Forum”Crypto Twitter has not reached an agreement on the tone of Gensler’s comments. While some claim this is as a catalyst for incoming regulation and the most aggressive stance to date, others saw it as a run-of-the-mill conservative, consumer protection-focused take. Aside from securities definitions discussion, Gensler’s comments did point to a Bitcoin bias and an admiration for some of the ideals behind crypto. This outlook contrasts with the negative perception of crypto from Senator Elizabeth Warren, who is attempting to shift to a more negative narrative and from Congressman Don Beyer, who recently dropped a surprise comprehensive crypto bill.Who will be the biggest adversary to crypto with securities, stablecoins and ‘systemic risk’ on the minds of so many regulators?-NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-The Breakdown is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Razor Red” by Sam Barsh. Image credit: Melissa Lyttle/Bloomberg/Getty Images, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
04/08/2117m 7s

BREAKDOWN: The Senate Meets the Cyber-Hornets – The Nascent Crypto Lobby Is Actually Effective

Policymakers are forced to listen as backlash to the infrastructure bill continues.This episode is sponsored by NYDIG.The infrastructure bill’s crypto provision had the industry scrambling to lobby for change. On this episode of “The Breakdown,” NLW covers the continuing saga of the bill, including:A recap on the bill’s crypto provision and subsequent backlashCrypto industry’s resistance going mainstreamRegulatory battles to comeA last-minute addition to the infrastructure bill met with fierce resistance from figures across the crypto sector, from industry executives to crypto-friendly lawmakers. These statements called out the destructive nature of the bill as it would require non-broker crypto intermediaries to comply with strict IRS reporting standards, a nearly impossible task.The extensive lobbying has not gone unnoticed. Mainstream media picked up the story as more and more statements called out the potential dangers of the bill. Policymakers are now forced to face the angry cyber-hornets headed their way.The infrastructure bill battle is the first of many regulatory clashes to come. For example, debate is currently raging on crypto Twitter about the implications of SEC Chairman Gary Gensler’s speech on crypto today. Will the crypto industry tackle future regulatory collisions with a similar ferocity?-NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-The Breakdown is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: iLexx/iStock/Getty Images, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
03/08/2115m 21s

BREAKDOWN: A Partial Victory in the Infrastructure Bill Battle

Crypto allies rally to soften the more problematic parts of the bill.This episode is sponsored by NYDIG.First, the Brief:Bank of America’s research highlights the pros of El Salvador's bitcoin lawFederal Reserve Governor Lael Brainard discusses the need for a U.S. CBDCBank of China intends to continue significant pressure on cryptoNo sign of a slowdown in U.S. bitcoin mining industryKentucky as the fifth state to stop BlockFiLastly, a record week for NFTs and the emergence of a new institutional narrativeOur main discussion centers on the ongoing battle surrounding a crypto provision within the highly debated infrastructure bill. The original language of the draft targeted crypto intermediaries, from hardware wallet manufacturers to miners, mandating that they report transactions made through their services. Doing so would be virtually impossible and hinder the U.S. crypto industry. In response, the community rallied for an updated bill with more forgiving standards. Crypto allies, from industry heavy hitters like Coin Center’s Jerry Brito to Sen. Ron Wyden of Oregon, expressed their discontent with the original language of the draft. With an amendment process underway, will these statements be enough to make a significant change?-NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-The Breakdown is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Razor Red” by Sam Barsh. Image credit: Samuel Corum/Getty Images, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
02/08/2116m 44s

BREAKDOWN: Gaming as a Tool of Economic Empowerment

A new essay argues player-driven digital economies create new economic opportunities.This episode is sponsored by NYDIG.The broader crypto sector encompasses more than just policies and price action: Decentralized technology has given rise to immersive play-to-earn digital economies where players can maximize their gaming experience.In this “Long Reads Sunday,” NLW takes a step back from the recent regulatory focus to take a look at the world of gaming. He reads the piece ”A Play-to-Earn Account Beats a Bank Account“ from Beryl Li, co-founder of Yield Guild Games.-NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-The Breakdown is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: sasha85ru/iStock/Getty Images, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
01/08/2111m 4s

SOB: Digging Into El Salvador's Bitcoin Bill

El Salvador’s decision to make bitcoin legal tender shocked the world. Soon, the dust will settle and catchy headlines will become real, lived experiences for Salvadorans.Join hosts Adam B. Levine, Andreas M. Antonopoulos and Stephanie Murphy for a read-through and thoughtful conversation of El Salvador’s bitcoin legislation in full. The hosts discuss the highs and lows of the bill and potential risks to the country, its citizens and bitcoin globally.Though many had predicted governmental adoption of bitcoin would come, none had predicted it would happen so soon. The rest of the world has watched attentively as El Salvador embarks on a nation-scale trial run of bitcoin as legal tender. This unprecedented circumstance brings an abundance of technical and social challenges. What will the great successes be with this experiment? Where can it go wrong? And how will the Lightning Network factor in? Most worryingly, will El Salvadore’s trust fund be the world’s biggest honeypot?The bitcoin bill is set to go in effect very soon. Will El Salvador be able to address these concerns in time?Links from the episode: Bitcoin as Legal Tender? Why El Salvador’s Plan Isn’t as Crazy as You Think (Adam's Opinion piece)Bitcoin Neutrality (Andreas's original 2013 talk) Today's show featured Andreas M. Antonopoulos, Stephanie Murphy and Adam B. Levine. This episode was edited by Jonas, with music by Jared Rubens and Gurty Beats.Image credit: Wilson Edilberto Santana Suarez/Unsplash, modified by Speaking of BitcoinSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
31/07/2149m 32s

BREAKDOWN: Crypto Allies Rally and Race to Fix the Infrastructure Bill

With the infrastructure bill moving closer to passage, can crypto companies and their allies in government roll back the most dangerous provisions?This episode is sponsored by NYDIG.On this episode of “The Breakdown’s Weekly Recap,” NLW covers the past week’s biggest financial, regulatory and markets news, including:The three simultaneous crypto hearings across CongressBinance‘s moves to position itself favorably for oncoming regulationProposed legislation with sweeping implications to crypto-NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-The Breakdown is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: Philip Rozenski/iStock/Getty Images, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
31/07/2114m 47s

BREAKDOWN: BlockFi’s Lead Investor Bows Out Amid Regulatory Uncertainty

Investors are becoming wary as Vermont becomes the fourth state to scrutinize BlockFi.This episode is sponsored by NYDIG.Today on the Brief:Robinhood's underperforming IPO and settlement battles MicroStrategy’s continued faith in bitcoin Proposed sweeping crypto legislation Robinhood’s underperforming initial public offering came amid settlement after settlement, with the latest coming with the Financial Industry Regulatory Authority (FINRA). Next on the Brief, MicroStrategy’s second-quarter earnings report lays out the company’s intention to buy more bitcoin. Alongside these crypto ups and downs, the regulatory narrative continues: proposed legislation on digital assets covers everything from the Securities and Exchange Commission’s authority over digital securities to U.S. Treasury authority over stablecoins.In the main discussion, NLW covers BlockFi’s tumultuous run-ins with regulatory bodies in New Jersey, Alabama and Texas, and most recently, Vermont. BlockFi has been making simultaneous appeals to regulators to address their concerns and to their existing customer base to affirm their accounts will not be affected. An unconfirmed report last night, first shared by Eric Newcomer and not able to be confirmed by CoinDesk, claims that a major Wall Street investor has pulled their funding in the midst of the regulatory onslaught. Will BlockFi be the first victim of shifting regulatory winds?-NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-The Breakdown is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Razor Red” by Sam Barsh. Image credit: screenshot of BlockFi website.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
30/07/2112m 23s

BREAKDOWN: The Senate Shoves a Dangerous, Last-Minute $28B Crypto Provision Into the Infrastructure Bill

The bipartisan bill contains potential impacts to crypto intermediaries.This episode is sponsored by NYDIG.First, on the Brief:U.S. growth last quarter performing under economists’ expectationsRobinhood's subdued IPO debut"Wild amounts" of capital going into cryptoIn the main discussion, NLW addresses the specifics, reactions and potential impacts of a crypto provision within the Biden administration’s big infrastructure bill. A draft copy of the provision aims to raise $28 billion via a crypto tax, imposing new reporting requirements for a broad swath of crypto intermediaries.Potentially, intermediaries from wallet developers to miners will be impacted by the provision. If this draft of the bill makes it to a vote, how will a tax scheme impact crypto development and adoption? Is this provision just a messy step in a positive U.S. government acceptance of crypto or a dangerous damping factor on progress?-NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-The Breakdown is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: rarrarorro/iStock/Getty Images, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
29/07/2112m 2s

BREAKDOWN: How Decentralized Is DeFi?

Uniswap’s removal of a set of assets from its interface has the community asking just how decentralized is the platform.This episode is sponsored by NYDIG.On this episode of “The Breakdown,” NLW addresses the recent wave of increased regulatory scrutiny, one that has prompted the crypto industry to prepare itself for the possibility of legislation. The discussion includes:A distinction of regulatory categoriesExchanges altering leveraged trading rulesUniswap’s token removal decisionThe increased regulatory scrutiny is a culmination of a number of factors, including the most recent bull run and institutional adoption. As policymakers discuss crypto more frequently it becomes helpful to separate such discussions into categories: implemented legislation, regulatory narrative battles and crypto self-regulation.Leveraged bets, an inherently risky venture, only become riskier with the addition of crypto’s volatility. Last weekend, exchanges FTX and Binance announced a cap on leverage at 20 times. Was this voluntary action an attempt by the exchanges to get ahead of possible incoming legislation?Uniswap labs announced an upcoming removal of over 100 tokens from its interface, including tokenized stocks, mirror stocks, options and derivatives. This decision seems to hail from a SEC statement that tokenized versions of securities are still securities. The specifics of the decision aside, the community finds itself asking: Does Uniswap’s ability to make a decision of this nature violate the principles of decentralization?-NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-The Breakdown is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Razor Red” by Sam Barsh. Image credit: http://www.fotogestoeber.de/iStock/Getty Images, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
28/07/2114m 34s

BREAKDOWN: US Senate Banking Committee Asks ‘What Are Cryptocurrencies Good For?’

Sherrod Brown and Elizabeth Warren paint bitcoin’s populism as phony marketing.This episode is sponsored by NYDIG.Today on the Brief:Exchanges leaving ChinaBinance looking to replace CZ with a regulatory-focused CEOCrypto venture funding continuesIn today’s main discussion, NLW addresses not one, not two but three crypto hearings today spread across the Senate and House. One with a focus on ransomware, another on central bank digital currencies and the last a wide-ranging outlook at the value of cryptocurrencies versus their perceived risks. One of the notable themes from the Senate Banking Committee hearing was disbelief in cryptos as populist, democratizing, decentralizing tools for remaking finance. Instead, political opponents argued that they were just the play places for shadowy cabals of miners and “super coders” (yes, that’s a term they really used).More concerning is the argument that cryptos are increasingly a threat to the larger financial system. Where does crypto stand in the eyes of regulators following the hearings?-NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-The Breakdown is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: Sarah Silbiger/Stringer/Getty Images, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
27/07/2114m 35s

BREAKDOWN: Are Amazon Rumors Behind Bitcoin’s Biggest Surge in Months?

This weekend’s upward market movements could have come from a variety of driving forces.This episode is sponsored by NYDIG.Crypto’s green weekend was the biggest surge in recent months. On this episode of “The Breakdown,” NLW analyzes the various forces behind the success, including:An Amazon job posting and token rumorViral tweets from a teenager and an astrologistMarket structure explanationsThe first piece of news from Amazon was in the form of a “Digital Currency and Blockchain Lead” job posting. Next, a self-proclaimed Amazon insider told London-based newspaper City A.M. the job requisition was part of a larger Amazon-crypto strategy, even hinting at the possibility of a token. How legitimate is this “insider”? Two viral tweets, one from TikTok influencer Teen Executive and another from astrology and bitcoin enthusiast Maren Altman, seemed to point to this weekend as the time for upward volatility. Could these two tweets have sparked market movement?Though prices are undeniably impacted by narratives, market structure is often the underlying and logical explanation. In this weekend’s case, a short squeeze could be the simplest answer. Were unwinding short positions the driving factor behind price?-NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-”The Breakdown” is written, produced by and features NLW, with editing by Adam B. Levine/Adrian Blust and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Razor Red” by Sam Barsh. Image credit: Alex Wong/Getty Images News, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
26/07/2113m 21s

BREAKDOWN: Using History as a Weapon - The Latest Political Attack on Stablecoins

The U.S. faces a choice between integrating proven stablecoins or outlawing them in favor of a monopolized CBDC.This episode is sponsored by NYDIG.On this week’s “Long Reads Sunday,” NLW reads Nic Carter’s recent essay “Why Central Bankers Invoke Free Banking to Attack Stablecoins.” -NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-The Breakdown is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: tntemerson/iStock/Getty Images, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
25/07/2112m 48s

SOB: Emergent Complexity and Building Systems We Don’t Understand

If you landed in medieval times, could you build a phone? Or something even simpler, a pencil?Join hosts Adam B. Levine, Andreas M. Antonopoulos, Stephanie Murphy & Jonathan Mohan for a deep dive into the wildly empowering, complex and terrifyingly automated world we live in. This wide ranging, philosophical discussion touches on such topics as the Suez Canal, Douglas Adams, combat drones, the Fourth Industrial Revolution and more.The world’s complexity exponentially increases by the decade. A gradual systemization has led to the automation of specialized tasks, affording people free time to perform other, even more complex tasks. For example, consider navigation apps reducing the decision-making process from driving, or the rise of autonomous cars that will eventually remove human interaction altogether.As the world depends more on an unimaginable web of logistics, what happens when something breaks? The evolution of automation from simple, rules-based systems to incredibly complex machine learning algorithms has diminished the ability to understand or predict these structures.As much as we love decentralization and technological advancement, where do these aims fail us? Are we creating more problems than solving them?-Today's show featured Andreas M. Antonopoulos, Stephanie Murphy, Jonathan Mohan and Adam B. Levine. This episode was edited by Jonas, with music by Jared Rubens and Gurty Beats.Image credit: Luca Carrà/Unsplash, modified by Speaking of BitcoinHave any questions or comments? Send us an email at adam@speakingofbitcoin.showSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
24/07/2138m 17s

BREAKDOWN: Is U.S. Crypto Regulatory Bluster About to Become Action?

If regulation is unavoidable, now may be a better time to deal with it than later.This episode is sponsored by NYDIG.On this edition of the “Weekly Recap,” NLW covers:Institutional interest revampingThe B Word conference, Elon’s reveal of SpaceX BTC holdingsNFT platform OpenSea’s funding round successRegulatory bodies pursuing BlockFi-NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-The Breakdown is written, produced by and features NLW, with editing by Michele Musso and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Razor Red” by Sam Barsh. Image credit: Velishchuk/iStock/Getty Images, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
24/07/219m 43s

BREAKDOWN: Bitcoin’s Big Institutional Week - JPMorgan Brings Crypto to All Wealth Management Clients & More

A stream of institutional news revives the previously stagnant narrative.This episode is sponsored by NYDIG.This week, institutional involvement was revived after the past few months’ inactivity. NLW covers new evidence for institutional interest, including:A billionaire you can’t ignoreJPMorgan offering crypto exposureGalaxy Digital’s big bank backersElon Musk’s revelation that SpaceX, the space exploration company that he founded, held bitcoin was joined by billionaire Thomas Peterffy’s admission that he holds some crypto, even hinting he sees “a small chance this will be a dominant currency.” On the wealth management end, JPMorgan has opened crypto exposure to all of its clients, a typically conservative set who tend to be passive in their investments. Lastly, London-based digital trading asset venue Galaxy Digital’s big bank backers continues to grow. The latest addition was BNY Mellon.All this together points to the fact that institutions, no matter how reluctantly, see crypto as an inevitable investment that can’t be ignored.-NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-The Breakdown is written, produced by and features NLW, with editing by Adam B. Levine and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: Tiffany Hagler-Geard/Bloomberg/Getty Images, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
23/07/2111m 55s

BREAKDOWN: Everything You Need to Know About Elon, Jack and Cathie’s Bitcoin Chat

Three crypto personalities provide varying perspectives on bitcoin and the future of the space.This episode is sponsored by NYDIG.On this episode of “The Breakdown,” host NLW dissects a highly-anticipated discussion between Cathie Wood, Jack Dorsey and Elon Musk at yesterday’s “The B Word” conference, including:Wood’s predictions of deflation rather than inflationDorsey’s unwavering belief in bitcoin as the internet’s native moneyMusk reveals he, Tesla, and SpaceX all hold bitcoinWood, one of the earliest Wall Street investors to get into crypto, has been through enough market cycles to have a nuanced understanding of the space. She revived one of her long-standing themes of Bitcoin’s rules-based monetary policy, especially relevant now as central banks operate on unbounded monetary policy. She also touched on recent inflationary concerns, specifically ARK’s belief that deflationary concerns are likely to emerge in the long-term.Twitter and Square CEO Dorsey has been a consistent ally to Bitcoin. Dorsey highlighted a few of his projects dedicated to a more decentralized future, including Square’s upcoming self-custody hardware wallet and Bluesky, a project to develop an open and decentralized social media platform. The controversial Musk's contributions to the discussion garnered mixed reactions from the community. Most notably was his admission that outside of Tesla and SpaceX shares, bitcoin is his biggest investment. Additionally, his now-famous statement “I pump but I don’t dump” was backed by his revelation that SpaceX, in addition to Tesla, held BTC. He affirmed the three have never sold their BTC holdings.While Wood recruits institutional investors and Dorsey builds tools to improve the space, what is Musk’s role in helping or hindering Bitcoin?-NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-The Breakdown is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Razor Red” by Sam Barsh. Image credit: Screenshot from The B Word, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
22/07/2118m 46s

BREAKDOWN: Bitcoin Reclaims $30K as the Macro Discussion Shifts From Inflation to COVID-19 to Growth

Bitcoin’s rebound following a gloomy week may be an expression of a shifting macro narrative.This episode is sponsored by NYDIG.Bitcoin is up just over 7% in the last 24 hours, following its first close below $30,000 since New Year’s Day. On this episode of “The Breakdown,” NLW proposes possible explanations for this reversal, including:Competing concerns of Inflation and slow post-COVID recoveryInstitutional interest in cryptoA few weeks ago, headlines were centered around markets being nervous about inflation. Emergence of the Delta variant and its induced lockdowns, coupled with reports of unexpectedly slow growth in Q2 in China, casts doubt on the inflation concerns. Which concern will prevail and drive the next macro narrative?Many speculated non-fungible tokens would be a fleeting phenomenon, in fashion for a short period of time and then fading away. However, an investment round for NFT platform OpenSea raised $100 million. Is OpenSea’s success an indicator of renewed long-term investor confidence in crypto?-NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-The Breakdown is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: Nuthawut Somsuk/iStock/Getty Images Plus, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
21/07/2112m 47s

BREAKDOWN: So THIS Is ‘And Then They Fight You’

Crypto finds itself in an inevitable set of regulatory battles.This episode is sponsored by NYDIG.“First they ignore you, then they laugh at you, then they fight you and then you win.” In this episode of “The Breakdown,” NLW examines crypto’s current “and then they fight you” phase, citing recent regulatory battles:New Jersey’s BlockFi interest accounts cease and desist orderStablecoins in the hot seat in recent meeting of U.S. presidential advisory groupBusting FUD headlines following a European Commission proposed reformA New Jersey Bureau of Securities order calls for BlockFi to stop accepting new clients residing in the state. CEO Zac Prince remains optimistic, believing the company’s products are lawful and that further discourse with regulators would clear up concerns, the most important of which seems to be surrounding yield delivery. Is a new macro narrative emerging as competition ramps up with high yield enticing new crypto users?In a meeting with the President’s Working Group on Financial Markets, attendees discussed the rapid growth of stablecoins and their risks and benefits for the future. Of the eight political and regulatory figures in attendance, who are likely to provide pro-stablecoin input?This morning, an incendiary headline dropped – “EU Aims to Ban Anonymous Crypto Asset Wallets” – following a European Commission release. Is the severity of the commission’s reform as fierce as the headline suggests?-NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-The Breakdown is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Razor Red” by Sam Barsh. Image credit: Greg Nash/Bloomberg/Getty Images, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
20/07/2116m 23s

BREAKDOWN: Will DAOs Transform Power in Venture Capital Fundraising?

VCs may lose their position as gatekeepers to startup success.This episode is sponsored by NYDIG.In addition to the deep dive into distributed autonomous organizations, or DAOs, and their future in venture capital, today’s “The Brief” covers:Bitcoin futures trading approved for some Bank of America clientsStablecoin discussions entering the upper echelons of U.S. governmentThe bubble continuing to inflate as markets roll over historical indicatorsSushiSwap, the decentralized exchange based on Uniswap, is proposing to sell a portion of its treasury to venture firms as part of a broader diversification plan. The community finds itself torn in half over the announcement, with some advocating for the benefits of seasoned expertise and others vehemently denying the need for institutional investors. SushiSwap’s “VC-versus-community” debate provides a case study on the growing world and strength of DAOs. VCs have previously held the essentially sole power over the fate of startups, but in the case of SushiSwap, they are now forced to be in open negotiation with the community. This power shift presents a window into the vitality of DAOs, stemming from their democratic and global nature, dynamism and anonymity. Will DAOs succeed as the internet native form of organization?-NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-The Breakdown is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: BrianAJackson/iStock/Getty Images, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
19/07/2117m 1s

BREAKDOWN: Why Governments Should Invest in Bitcoin Infrastructure

An argument that the Bitcoin network is a public good and governments should invest in public goods.This episode is sponsored by NYDIG.This week’s “Long Reads Sunday” is a reading of “Bitcoin: An Orange New Deal” by Andrew Bailey and Bradley Rettler.-NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-The Breakdown is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Razor Red” by Sam Barsh. Image credit: hamzaturkkol/iStock/Getty Images Plus, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
18/07/2113m 29s

SOB: How and Why Governments Lie About Inflation

An in-depth, historical look at how and why government statistics have changed over time.Starting this week the Speaking of Bitcoin show joins the CoinDesk Podcast NetworkThis time on Speaking of Bitcoin, the hosts are joined by John Williams, rogue economist and long-time Editor of ShadowStats.com, a data source that tracks everything from inflation to GDP, money supply to unemployment using the original government defined methodologies. Over time, the government has changed how they measure all of these things and Johns work reveals that these changes all result in better looking statistics from the same, often terrifying numbers.In this wide ranging conversation we talk about how and why this happened, plus what we can do about it. If this is a new topic to you, expect to come away with a different perspective in this epic episode.Today's show featured John Williams, Stephanie Murphy, Jonathan Mohan and Adam B. Levine. This episode was edited by Jonas, with music by Jared Rubens and Gurty Beats.Our album art is a composite work by Adam B. Levine using the current inflation chart from ShadowStats.com along with an excellent imposter-dog image from Brayden Anderson on Unsplash.Have any questions or comments? Send me an email at adam@speakingof.bitcoinshowSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
17/07/2156m 53s

BREAKDOWN: Paraguay's Leaked Crypto Law – A Depressing Dud or Too Early to Tell?

Those expecting another El Salvador are sure to be disappointed. This episode is sponsored by NYDIG.On this edition of the “Weekly Recap,” NLW covers:The latest in Binance’s global regulatory troubles Leaked crypto legislation from Paraguay Capital Group’s big bet on MicroStrategyThe U.K.’s Financial Conduct Authority slated to spend £11M on an anti-crypto campaign for young people -NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-The Breakdown is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: naruedom/iStock/Getty Images Plus, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
17/07/2110m 23s

BREAKDOWN: Square Sets Out to Bring DeFi to Bitcoin

A new initiative from Jack Dorsey will be a full business unit inside the company.This episode is sponsored by NYDIG.Today on the Brief:The mixed state of the U.S. government on cryptoChina’s e-CNY will have native smart contractsSaquon Barkley to take endorsement money in BTCOur main discussion:Square has announced a new initiative, titled “TBD,” that CEO Jack Dorsey describes as “focused on building an open developer platform with the sole goal of making it easy to create non-custodial, permissionless and decentralized financial services.” Dorsey intends the platform to be developed completely transparently: “open road map, open development and open source.”In this episode, NLW puts the new initiative in the context of Square’s long-term relationship with Bitcoin, explains why it’s different from the company’s Square Crypto efforts and analyzes how different parts of the community are reacting to the news.-NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-The Breakdown is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Razor Red” by Sam Barsh. Image credit: Eva Marie Uzcategui/Bloomberg/Getty Images, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
16/07/2113m 52s

BREAKDOWN: BlackRock CEO Seeing No Demand for Crypto

Cryptocurrencies were once a hedge play that could no longer be ignored, but now Larry Fink sees “very little investor demand” for crypto.This episode is sponsored by NYDIG.On this episode of “The Breakdown,” NLW addresses recent shifts in institutional and regulatory discussions on crypto, including:How BlackRock CEO Larry Fink sees the state of crypto ShapeShift’s final structural shiftFed Chairman Jay Powell’s stance against stablecoinsA dissenting letter from two SEC commissionersBlackRock made headlines when it entered the crypto market because it viewed bitcoin as a hedge play that could no longer be ignored. Now, this investment management company finds itself in a changed landscape as bitcoin prices have fallen from all-time highs. How has CEO Larry Fink’s view of crypto changed with this new price point?ShapeShift, a global digital asset trading platform, was created with a vision of minimizing user-collected data. That vision was tarnished in 2018 when the platform began requiring basic information, resulting in a 95% loss of its user base. ShapeShift’s tumultuous history has added another chapter today with the announcement that it is converting to a decentralized autonomous organization, or DAO, owned by the users. Is this one step in a greater trend of fundamentally shedding corporate organizational power structures?Federal Reserve Chairman Jay Powell countered Vice Chairman Randal Quarles’ pro-stablecoin stance in a recent testimony before Congress. While Quarles asserted successful stablecoins would make a U.S. central bank digital currency (CBDC) redundant, Powell offered the opposite opinion: “You wouldn’t need stablecoins, you wouldn’t need cryptocurrencies if you had a digital U.S. currency.” Whose stance will win in the growing stablecoin versus CBDC debate?Two members of the U.S. Securities and Exchange Commission released a letter of dissent following a SEC enforcement action against U.K. company Coinschedule for anti-touting provisions. The letter expressed the members’ disappointment at the lack of regulatory clarification following the Coinschedule opportunity and an overarching distaste at a lack of transparency surrounding crypto guidance. Will more members follow in their footsteps and push for a clearer SEC stance?-NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-The Breakdown is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: Stefan Wermuth/Bloomberg/Getty Images, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
15/07/2114m 29s

BREAKDOWN: Federal Reserve Vice Chair – ‘We Do Not Need to Fear Stablecoins’

While the European Central Bank accelerates its digital euro project, one Fed official throws cold water on U.S. CBDC plans.This episode is sponsored by NYDIG.On this episode of “The Breakdown,” NLW analyzes a stablecoin-focused speech from Randal Quarles, vice chair of the Federal Reserve, starting with a primer on developing trends related to the topic, including:CBDC discussion, investigation and development across global powersThe ability of stablecoins to make a U.S. CBDC redundant The conversation around central bank digital currencies (CBDCs) is growing louder. In China, the digital yuan continues to roll out through lottery tests and, more recently, for use in the Beijing subway. Today, the European Central Bank announced a new two-year “investigation” period during which the ECB will prepare for a larger digital euro design phase with user consultation, regulatory discussions and market analysis. Still, NLW argues that we can’t view the rise of public CBDC discussions in the absence of the growing adoption of private stablecoins. While these private, fiat-pegged stablecoins seem increasingly in the regulatory crosshairs, Federal Reserve Vice Chair Randal Quarles recently argued the U.S. central bank and policy makers shouldn’t fear them – and that, indeed, when regulated properly, stablecoins might make the need for a CBDC redundant. -NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-The Breakdown is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Razor Red” by Sam Barsh. Image credit: Andrew Harrer/Bloomberg/Getty Images, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
14/07/2119m 34s

BREAKDOWN: While Others Warn of Market Bubble, Bitcoin Bull Bill Miller Doesn't Think So

One early bitcoin investor with a traditional background is less concerned about any upcoming bubble.This episode is sponsored by NYDIG.On this episode of “The Breakdown,” NLW analyzes value investor turned bitcoin bull Bill Miller’s contrarian take on a possible upcoming market bubble. Miller’s background lies in traditional markets, with a massive portion of his portfolio grounded in strategically held Amazon shares. That, in addition to his relatively early bitcoin investments, provides him with an insider perspective from an external base understanding of markets. While other top investors predict an “epic” market crash, Miller remains unconcerned. Today on the brief, NLW covers the most recent crypto market news, including:New CPI releases fanning the inflation debate fireCrypto volatility spillover risks to traditional marketsSquare’s forthcoming hardware walletNewly released Consumer Price Index (CPI) numbers fuel an ongoing, contentious debate around inflation. While the Federal Reserve sticks to its “transitory” assessment, others are not so sure. How will the numbers change as base effects no longer become a valid explanation?As institutional investors fill the crypto space, a “spillover” system risk concern becomes increasingly relevant. Is spillover just another piece of FUD, or is it an inevitable reality as traditional and crypto markets become more entwined?Square’s teasing of a hardware wallet project is materializing. CEO Jack Dorsey tweeted no less than 12 guiding principles for the project, and the project lead more recently announced the company’s dedication to make “bitcoin custody more mainstream.” Although no exact timeline for release exists, Square’s project is an exciting step towards easier entry to bitcoin mobile and self-custody use.-NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-The Breakdown is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: Abscent84/iStock/Getty Images, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
13/07/2117m 19s

BREAKDOWN: Bitcoin Leads to Hyperinflation? Meet the Strangest FUD Yet

 Some argue bitcoin wealth is exhausting the world’s productive potential.This episode is sponsored by NYDIG.In this episode, NLW focuses on:Inflation measures, impacts and who’s to blameNews out of Paraguay concerning pro-bitcoin legislationA recent “Wall Street Journal” survey of economists revealed they expect higher inflation rates to persist for years to come. “Money Week” ran an op-ed playing on the increased attention on inflation where they pin bitcoin as an unused hoard of productive wealth and a reason for inflation. Is bitcoin really to blame for expectations of continuing inflation?El Salvador’s influence continues to permeate other nations hoping to make similar advances in crypto. On Wednesday, July 14, a Paraguayan “Bitcoin Bill” is expected to be introduced. Though the exact contents of the bill are not yet known, Paraguay would be the next country setting a positive stance towards crypto. Lastly, NLW covers more in bitcoin and crypto news. What does Grayscale’s move to make its Large Cap Fund a Securities and Exchange Commission reporting company mean? Also, can China’s post-COVID economic recovery be an indicator for what will happen in the rest of the world?Grayscale is owned by Digital Currency Group, which is CoinDesk’s parent company. -NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-The Breakdown is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is "Countdown" by Neon Beach. The music you heard today behind our sponsor is "Razor Red" by Sam Barsh. Image credit: Devrimb/iStock/Getty Images, modified by CoinDesk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
12/07/2112m 36s

BREAKDOWN: The Progressive Case for Bitcoin

A reading of an excerpt of U.S. Sen. Elizabeth Warren’s recent letter to SEC Chair Gary Gensler and a responding essay.This episode is sponsored by NYDIG.On this edition of “Long Reads Sunday,” NLW reads an excerpt from Sen. Elizabeth Warren’s questions to SEC Chairman Gensler about crypto and crypto exchanges. NLW then reads an essay responding to Warren’s recent discussions of the topic from Murtaza Hussain called “Elizabeth Warren’s Bitcoin Blind Spot.”-NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-Image credit: Patrick T. Fallon/Bloomberg/Getty Images, modified by CoinDeskSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
11/07/2112m 41s

BREAKDOWN: Can a New Wave of Crypto IPOs Rekindle Wall Street Excitement?

Circle and Robinhood are both coming to public markets, but will they re-excite those markets when it comes to crypto?This episode is sponsored by NYDIG.On this edition of “The Breakdown’s Weekly Recap,” NLW looks at how Wall Street momentum in crypto rose last year only to fade this year. With Circle coming to markets via a SPAC merger and Robinhood going public, is there a chance those events will bring some renewed excitement? -NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-Image credit: Leonid Sukala/iStock/Getty Images Plus, modified by CoinDeskSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
10/07/2114m 2s

BREAKDOWN: As Biden Targets Big Tech, a Reminder That Decentralized Technologies Are Anti-Monopolist

President Biden’s decisive action to promote competition in the U.S. reflects a decreasing public approval of Big Tech.This episode is sponsored by NYDIG.On this episode of “The Breakdown,” NLW analyzes President Joe Biden’s “Factsheet: Executive Order on Promoting Competition in the American Economy,” including:The shift in public sentiment against Big TechThe order’s implications to the tech and finance sectorsCrypto’s decentralized nature as intrinsically anti-monopolistFor a period of time, tech companies enjoyed the highest public opinion among large corporations. However, the rise of ad-focused platforms and the advent of social media (with all its demons) encouraged increased scrutiny. Privacy concerns only add to the distaste toward companies including Amazon, Google, and Facebook.With public opinion souring, governments are similarly implementing various regulation schemes as they become wary of the threat of monopolization. Take Europe, for example, which created the General Data Protection Regulation system, and China’s more aggressive actions against social media. The U.S. has dabbled in tightening its reins on big tech with an assortment of antitrust lawsuits, but President Biden’s recent executive order takes the mentality to a new level.The public mindset and regulatory shift places crypto as the potential solution to concerns of monopolization. Crypto’s decentralization – its lack of CEOs and corporate power structures – make it an attractive path away from monopolies in the American economy.-NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-Image credit: Tom Brenner/Bloomberg/Getty Images, modified by CoinDeskSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
09/07/2118m 32s

BREAKDOWN: Are GBTC Unwinds Bullish or Bearish for Bitcoin?

With so many strong opinions about the mechanisms behind GBTC and BTC plays, the answer is elusive.This episode is sponsored by NYDIG.NLW explores the debate surrounding the GBTC unlock’s bearish or bullish nature on this episode of “The Breakdown,” including: Historical impacts of market structure on pricesGBTC’s influence on markets as its premium attracted investorsAnalysis of the GBTC unlock bearish vs. bullish debateGrayscale Bitcoin Trust (GBTC) is an investment vehicle that allows institutional and public market investors to invest in bitcoin without purchasing the cryptocurrency directly. While many GBTC investors were simply looking for public market exposure to bitcoin, many firms also took a more strategic approach to capture the neutral arbitrage trade of GBTC shares trading at a premium to the native asset value (NAV) of bitcoin. The demand for public market vehicles coupled with a lack of other alternatives placed GBTC at a desirable premium. The GBTC NAV trade was a significant source of buying pressure through the back half of 2020 and the beginning of 2021, but when the premium turned to a discount (thanks to a variety of factors, including competition from other bitcoin proxies in the public markets), that source of buying pressure dried up.When an investor buys into GBTC, their shares are locked up for six months. More than 100,000 bitcoin worth of shares are expected to be released throughout July. The looming flood of shares into secondary markets has sparked a debate on whether the unlock will be bearish or bullish for the spot price of bitcoin. Featuring commentary from Lyn Alden, Loomdart, Willy Woo and more.Grayscale is owned by Digital Currency Group, which is CoinDesk's parent company.-NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-Image credit: Francis Specker/Bloomberg/Getty Images, modified by CoinDeskSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
08/07/2122m 9s

BREAKDOWN: De-Globalization vs. De-Nationification: Which Trend Wins?

The context for news about states fighting crypto is a larger set of historical and geopolitical forces.This episode is sponsored by NYDIG.Today on “The Breakdown,” NLW explores what he calls “the shifting tectonic plates of the global social order.” On one side, he argues, are the forces of de-globalization, with nations turning inward and focusing on economic sovereignty. Part of that is states exerting more control over corporations and Big Tech. On the other is a process of de-nationification, where powers previously reserved for states – such as printing money – are increasingly in the hands of new internet-based networks and corporations. This shapes the larger context of crypto disruption and puts a lens on understanding the growing regulatory debate. -NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-Image credit: metamorworks/iStock/Getty Images Plus, modified by CoinDeskSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
07/07/2113m 15s

BREAKDOWN: Will Bitcoin or Russia Be Blamed for the Latest Ransomware Attacks?

REvil, the ransomware group behind the Colonial Pipeline attack, strikes again.This episode is sponsored by NYDIG.On this extended-brief style episode of “The Breakdown,” NLW discusses recent news, FUD and policy in the world of crypto, including:The ransomware group behind the Colonial Pipeline attack strikes againAn increasing list of regulatory actions against BinanceThe China crackdown on crypto tradingThe attack against Colonial Pipeline pushed ransomware fears to a new level. REvil, the same group behind the Colonial attack, stuck once again. Kaseya, a company providing network-management services, was the most recent victim. With one million machines infected, the media and regulators look for an easy target to blame for the increase in ransomware attacks. Who will take the fall: Russia or Bitcoin?Binance continues to fall under increased regulatory scrutiny. Barclays Bank, one of the U.K.’s biggest, has stopped card payments to Binance. At the same time, Thailand filed a criminal complaint against the company, and the Cayman Islands said Binance would not be allowed to do business there. Though Binance is the current target, do these actions suggest a shift in sentiment from banks and regulators on crypto?China’s crackdown on crypto continues, this time with an emphasis on trading. The business administration department of the People's Bank of China and the Beijing Financial Supervision and Administration bureau issued yet another warning about crypto trading. This warning was joined by an enforcement action against Beijing Qudao Cultural Development Limited, as well as Didi, a popular ride hailing app. Is China banning itself from crypto?-NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-Image credit: Dmitry Nogaev/iStock/Getty Images Plus, modified by CoinDeskSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
06/07/2111m 51s

BREAKDOWN: The State of Institutional Adoption of DeFi, Feat. Circle’s Jeremy Allaire

A conversation with the Circle CEO about the prospects for traditional finance to move into DeFi.This episode is sponsored by NYDIG.This conversation was originally released as a sponsored content webinar from Circle and CoinDesk. NLW decided to release it on his podcast of his own volition and was not paid to do so. The conversation covers why institutions are becoming interested in DeFi, which institutions are starting to participate and what barriers remain. -NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-Image credit: TFYKub/iStock/Getty Images Plus, modified by CoinDeskSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
05/07/2143m 55s

BREAKDOWN: Declaring Independence and Freedom From Bitcoin FUD

A reading of Jeff Dorman’s recent FUD-busting newsletter.This episode is sponsored by NYDIG.On this holiday edition of “Long Reads Sunday,” NLW reads Jeff Dorman’s “Debunking 10 Digital Asset Bear Market Theses.”-NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-Image credit: Overearth/iStock/Getty Images Plus, modified by CoinDeskSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
04/07/2111m 28s

BREAKDOWN: Are We on the Verge of a New Regulatory Era in Crypto?

Recapping this week’s congressional hearing and more on “The Weekly Recap.”This episode is sponsored by NYDIG.On this edition of “The Breakdown’s Weekly Recap," NLW looks at:Why this week’s congressional hearing suggests elected officials are taking crypto more seriously A slate of CBDC news from around the worldThe beginning of a new macro narrative for Ethereum and DeFi-NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-Image credit: JTSorrell/iStock/Getty Images Plus, modified by CoinDeskSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
03/07/218m 48s

BREAKDOWN: Network to Undergo Biggest Difficulty Adjustment Ever; BMC Says 67.6% of North American Bitcoin Mining Is Sustainable

But how much do people trust the Council’s methodology? This episode is sponsored by NYDIG.Today on “The Breakdown,” NLW looks at the latest in the highly dynamic, fast-evolving world of bitcoin mining, including:China’s mining ban and the “Great Western Hashrate Migration”Bitcoin’s built-in hashrate fluctuation mitigation, the “difficulty adjustment”The Bitcoin Mining Council’s newest sustainable mining figuresChina’s expansive mining ban, including regions with hydroelectric power, forced China-based miners to liquidate some of their crypto in preparation for a move elsewhere. Where will hashrate move next? Will miners join U.S. crypto-friendly jurisdictions like Texas and Kentucky, or will they stay close to home in bordering countries like Kazakhstan and Russia?The ban induced a massive reduction of hash power on the network. Luckily, Satoshi prepared for such a circumstance and built in a concept of “difficulty adjustment” into Bitcoin’s protocols, which allows for fluctuation in the composition of miners. The adjustment expected to be made tonight will be the highest adjustment ever made on the network.Lastly, NLW addresses a report released by the Bitcoin Mining Council on sustainable energy disclosures. This report’s feature number, 56% of mining electricity mix is sustainable in Q2 2021, has some groups excited while others remain skeptical of the validity of the report. As NLW argues, “Some data is better than no data.”-NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-Image credit: Iaremenko/iStock/Getty Images Plus, modified by CoinDeskSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
02/07/2111m 9s

BREAKDOWN: George Soros and Steve Cohen Go In on Bitcoin; Here’s Why That Might Not Be a Good Thing

A fresh wave of institutional investors poses new risks to crypto. This episode is sponsored by NYDIG.In this episode of “The Breakdown,” NLW discusses a fresh wave of investors and their potential disruptions to markets, including:Two new major hedge funds, Point72 and Soros FundInevitable short-term investors as part of market maturationTroublesome possibility of regulation forming around institutional trading habitsIn early 2020, institutional investors flowed into the crypto space nonstop, including hedge funds, corporate treasuries and insurance companies. This new type of investor changed the space, with surging and plunging prices following news of investors coming and going. Then the flood stopped as the always-controversial Elon Musk’s Tesla balked at bitcoin’s energy consumption and walked back accepting the top cryptocurrency in exchange for the company’s trendy vehicles. In the last quarter, institutional investors have been stepping back into crypto. Point72, Steve Cohen’s company, stated it would be “remiss to ignore a now $2 trillion cryptocurrency market” and is looking to hire a “Head of Cryptocurrencies.” Besides Point72, internal management at George Soros’ Soros Fund has given the “greenlight to actively trade bitcoin.”Are these two hedge funds just the tip of the iceberg for a resurgence in institutional investment? How will this new mass of money impact markets and regulation?-NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-Image credit: Sean Gallup/Getty Images Europe, modified by CoinDeskSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
01/07/2112m 31s

BREAKDOWN: A "Crypto Frenzy"? Today's Congressional Hearing Puts Bitcoin and DeFi in the Hot Seat

U.S. hearing on crypto indicates policymakers’ increasing intention to regulate the crypto market.This episode is sponsored by Nexo.io.An interview with a congressman followed by a congressional hearing on crypto signal policymakers are moving to the next phase of talks about regulating crypto.Troubling comments in Congressman Bill Foster’s interview with AxiosUpcoming committee hearing titled ominously “America on ‘FIRE:’ Will the Crypto Frenzy Lead to Financial Independence and Early Retirement or Financial Ruin?”Foster has historically been a champion of the crypto market: He is a co-chairman of the Congressional Blockchain Caucus and was previously supportive of the future of crypto. However, in his recent Axios interview, his tone flipped, as he went as far as to suggest the need for a “cryptographic backdoor” to allow the court the ability to view or even reverse transactions. Is Foster’s new viewpoint indicative of a greater shift in policymakers’ attitude toward crypto regulation?Today’s House Committee on Financial Services hearing with a particularly colorful title is yet another signal for an upcoming regulatory push in crypto. The hearing’s agenda includes a discussion of bad actors on decentralized currency exchanges, or DEX, including a reference to Mark Cuban’s recent loss of money in a DeFi “rug pull.” With an expert witness lineup, including Jim Cramer of “Mad Money,” Alexis Goldstein of the Open Markets Institute and Peter Van Valkenburgh of CoinCenter, there is quite a mixed set of viewpoints on the current state and future of crypto.-Nexo.io lets you borrow against your crypto at 6.9% APR, earn up to 12% on your idle assets, and exchange instantly between 100+ market pairs with the tap of a button. Get started at nexo.io.-Image credit: franckreporter/iStock/Getty Images, modified by CoinDeskSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
30/06/2119m 46s

BREAKDOWN: How the Macro Landscape Is Shaping Bitcoin Markets

A rapidly changing landscape is leading to insecurity on a broad scale.This episode is sponsored by Nexo.io.Highlights from today’s Breakdown:The latest legal challenges around the Bitcoin white paper A barrage of institutional bitcoin news What the S&P 500 hitting all-time highs has to do with the crypto marketsFor those worried there was a loss of momentum around institutions entering bitcoin, fear not. Cathie Wood’s ARK is joining forces with 21 Shares to become the latest to apply to the U.S. Securities and Exchange Commission (SEC) to launch a bitcoin ETF. Morgan Stanley has bought more than 28,000 shares of the Grayscale Bitcoin Trust. More broadly, markets have been buoyant over the last few weeks, closing at new all-time highs on Monday. This is finding its way into crypto markets, which reflects how increasingly intermingled traditional investors are becoming with crypto investors. Could a new COVID-19 variant negatively impact the economy’s overall momentum? If it did, what would the likely impact on bitcoin and other cryptos be?-Nexo.io lets you borrow against your crypto at 6.9% APR, earn up to 12% on your idle assets, and exchange instantly between 100+ market pairs with the tap of a button. Get started at nexo.io.-Image credit: Francesco Carta fotografo/Moment/Getty ImagesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
29/06/2110m 51s

BREAKDOWN: The Real Story of the UK Binance Ban

What recent intrigue around Binance tells us about the state of global regulation.This episode is sponsored by Nexo.io and Circle.Today on the BriefIndian investment in crypto soarsThe first Mexican bank to accept bitcoin? Tether FUD from the FED? In our main discussion, NLW looks at recent regulatory action from the U.K., Canada and Japan. He argues that we’re entering a new phase of global regulation, where we’re likely to see a particular focus on leverage and derivatives.-Nexo.io lets you borrow against your crypto at 6.9% APR, earn up to 12% on your idle assets, and exchange instantly between 100+ market pairs with the tap of a button. Get started at nexo.io.-Circle Yield, now in early access, enables qualified businesses to generate returns up to 6% with 1 to 12 month terms by deploying capital into USDC on a Circle Account. Sign up for the fully secured, institutional yield product at circle.com/nlw.-Image credit: Pavlo Gonchar/SOPA Images/LightRocket/Getty Images, modified by CoinDeskSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
28/06/2112m 2s

BREAKDOWN: The Great Western Hashrate Migration Is Real

A recent essay dives into China’s motivations for its recent bitcoin mining ban.This episode is sponsored by Nexo.io and Circle.On this week’s “Long Reads Sunday,” NLW reads Nic Carter’s latest essay for CoinDesk “Go West, Bitcoin! Unpacking the Great Hashrate Migration.”-Nexo.io lets you borrow against your crypto at 6.9% APR, earn up to 12% on your idle assets, and exchange instantly between 100+ market pairs with the tap of a button. Get started at nexo.io.-Circle Yield, now in early access, enables qualified businesses to generate returns up to 6% with 1 to 12 month terms by deploying capital into USDC on a Circle Account. Sign up for the fully secured, institutional yield product at circle.com/nlw.-Image credit: da-kuk/iStock/Getty Images Plus, modified by CoinDeskSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
27/06/2110m 50s

BREAKDOWN: Even in an Off Week, Bitcoin Had Quietly Massive Institutional Adoption News

18 million more Americans will soon be able to buy, sell and hold bitcoin directly from their bank accounts. This episode is sponsored by Nexo.io and Circle.On this edition of “The Breakdown’s Weekly Recap,” NLW looks at:Two more massive fundraises A set of positive regulatory news A new partnership that will bring bitcoin directly to bank accounts and credit unions around America -Nexo.io lets you borrow against your crypto at 6.9% APR, earn up to 12% on your idle assets, and exchange instantly between 100+ market pairs with the tap of a button. Get started at nexo.io.-Circle Yield, now in early access, enables qualified businesses to generate returns up to 6% with 1 to 12 month terms by deploying capital into USDC on a Circle Account. Sign up for the fully secured, institutional yield product at circle.com/nlw.-Image credit: Velishchuk/iStock/Getty Images Plus, modified by CoinDeskSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
26/06/217m 54s

BREAKDOWN: Elon S**tposting While El Salvador's President Addressed the Nation About Bitcoin Is Peak 2021

President Nayib Bukele launches what some are calling the most important airdrop in history. This episode is sponsored by Nexo.io and Circle.Last night was one for the history books. As Elon Musk was making weird, stupid jokes about bitcoiners, the president of El Salvador was live on YouTube discussing what amounts to a $117 million BTC airdrop to citizens as a part of the recently passed law making bitcoin legal tender in the Central American nation.-Nexo.io lets you borrow against your crypto at 6.9% APR, earn up to 12% on your idle assets, and exchange instantly between 100+ market pairs with the tap of a button. Get started at nexo.io.-Circle Yield, now in early access, enables qualified businesses to generate returns up to 6% with 1 to 12 month terms by deploying capital into USDC on a Circle Account. Sign up for the fully secured, institutional yield product at circle.com/nlw.-Image credit: @PresidenciaSV/Twitter and @ElonMusk/TwitterSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
25/06/2111m 17s

BREAKDOWN: John McAfee and the End of Crypto’s Gonzo Era

An unignorable icon’s passing marks the end of an important early age in crypto.This episode is sponsored by Nexo.io and Circle.The passing of an icon in crypto necessitates reflection. John McAfee was at times reviled, and at the same time, deadly serious and a prophet, sometimes a clown. The many facets to his personality mirror the roller-coaster history of crypto, a Wild West of finance in its earliest days.Join NLW in this episode of “The Breakdown” for a journey first through the winding history of McAfee, followed by a narrative tour of the many flashpoints in the “gonzo” era of early crypto.This episode contains explicit language. Sensitive listeners, please be advised.-Nexo.io lets you borrow against your crypto at 6.9% APR, earn up to 12% on your idle assets, and exchange instantly between 100+ market pairs with the tap of a button. Get started at nexo.io.-Circle Yield, now in early access, enables qualified businesses to generate returns up to 6% with 1 to 12 month terms by deploying capital into USDC on a Circle Account. Sign up for the fully secured, institutional yield product at circle.com/nlw.-Image credit: Anthony Kwan/Bloomberg/Getty Images, modified by CoinDeskSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
24/06/2115m 22s

BREAKDOWN: Bear Market? Not According to These Monster Financing Rounds

$100 million for NFTs from Fox. $230 million for a new DeFi funding DAO. $380 million for Ledger. If this is a bear market, it’s going to be well funded. This episode is sponsored by Nexo.io and Circle.Today on "The Breakdown," NLW looks at the contrast between growing bear market sentiment versus a sustained set of high-profile eight and nine figure financing rounds across multiple dimensions of the crypto market. Specifically, he looks at funding deals in NFTs, DeFi and institutional bitcoin, arguing that even if we do head into a bear market, that capital is likely to mean a return to bull more quickly. -Nexo.io lets you borrow against your crypto at 6.9% APR, earn up to 12% on your idle assets, and exchange instantly between 100+ market pairs with the tap of a button. Get started at nexo.io.-Circle Yield, now in early access, enables qualified businesses to generate returns up to 6% with 1 to 12 month terms by deploying capital into USDC on a Circle Account. Sign up for the fully secured, institutional yield product at circle.com/nlw.-Image credit: Nuthawut Somsuk/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
23/06/2114m 18s

BREAKDOWN: Lyn Alden on Bitcoin, Inflation and the Potential Coming Energy Shock

One of the top minds in macro explores the key debates shaping the economic landscape.This episode is sponsored by Nexo.io and Circle.Lyn Alden, investment researcher and strategist with a keen eye on both crypto and traditional markets, joins NLW on today’s “The Breakdown.” Listen for a conversation about the state of the market and projections for the future including:Inflation: base effects and transitory in nature or here to stay?Foreign debt markets tapering offThe Lightning Network and predictions for the success of El SalvadorInflation at a high number, 5%, leaves investors and market observers jumpy. On top of that, many have a hard time believing the U.S. Federal Reserve’s narrative for inflation as outlined in the recent FOMC meeting. How is this inflation different from previous spikes?The foreign sector has historically been a large buyer of Treasurys in structural trade deficits. In 2013, China stepped away from this practice and started investing in its own infrastructure and in other regions across the world. Even if other countries continue to invest in U.S. assets, it is increasingly in hard assets like stocks or real estate. Will the dollar weaken as the Fed is forced to be the primary buyer of U.S. Treasurys?El Salvador’s commitment to bitcoin as legal tender is one thing, but what will the reality of this new currency look like? Bitcoin’s Lightning Network provides easy access and transaction speeds, so long as enough of the general population has access to smartphones.Lastly, with the public’s attention captured by the current inflationary moment, what market features are getting underreported? Tune in to hear Alden’s perspective on what will have an unexpected impact in the upcoming cycles, including the potential for a significant energy shock in the years to come. -Nexo.io lets you borrow against your crypto at 6.9% APR, earn up to 12% on your idle assets, and exchange instantly between 100+ market pairs with the tap of a button. Get started at nexo.io.-Circle Yield, now in early access, enables qualified businesses to generate returns up to 6% with 1 to 12 month terms by deploying capital into USDC on a Circle Account. Sign up for the fully secured, institutional yield product at circle.com/nlw.-Image credit: Nuthawut Somsuk/iStock/Getty Images Plus, modified by CoinDeskSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
22/06/2155m 47s

BREAKDOWN: The De-Chinafication of Bitcoin

People’s Bank of China pushes banks to cut ties to virtual currency traders in latest crypto crackdown.This episode is sponsored by Nexo.io.On this episode of “The Breakdown,” NLW takes a brief look at the most recent crypto news before taking a deeper dive into the latest step in the de-Chinafication of bitcoin.MicroStrategy going “all-in” on bitcoinMichael Burry’s warnings on Twitter of the “Mother of All Crashes”The “dot plot shock” and post-FOMC meeting confusionAccelerating China mining banWhile in this in-between state, post-COVID and pre-monetary policy tapering, institutional investors find themselves on diverging and opposing paths. Michael Saylor’s MicroStrategy has gone “all in,” while at the same time investor Michael Burry took to Twitter with warnings of an upcoming “Mother of All Crashes.” Confusion following the Federal Reserve’s FOMC meeting only adds to the contention between investors with contrasting visions for the near future of crypto.The Central Bank of China has convened a meeting with the major banks to reiterate and tighten previous policies on the prevention of virtual currency transactions in bank accounts. Is this restriction on crypto transactions yet another indication that China is taking a more aggressive stance against bitcoin?More to this point, Sichuan became the most recent province to crack down on crypto mining. Sichuan, primarily mining with hydropower, seems to diminish previous ban reasoning citing environmental concerns. How far will China go to remove itself from bitcoin, and what does that mean for its citizens and the crypto space as a whole?-Nexo.io lets you borrow against your crypto at 6.9% APR, earn up to 12% on your idle assets, and exchange instantly between 100+ market pairs with the tap of a button. Get started at nexo.io.-Image credit: remotevfx/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
21/06/2113m 57s

BREAKDOWN: Does a Law From the Civil War Make Stablecoins Illegal?

A reading from a financial history expert.This episode is sponsored by Nexo.io and Bitstamp.On this week’s Long Reads Sunday, NLW reads “How the Civil War Shapes the Future of Stablecoins” by Franklin Noll, and discusses the recent debates around stablecoins and CBDCs.-Nexo.io lets you borrow against your crypto at 6.9% APR, earn up to 12% on your idle assets, and exchange instantly between 100+ market pairs with the tap of a button. Get started at nexo.io.-Bitstamp is the world’s longest-running cryptocurrency exchange, supporting investors, traders and leading financial institutions since 2011. With a proven track record and dedication to personal customer service with a human touch, Bitstamp’s fast, secure and reliable crypto investing platform is trusted by over four million people worldwide. To learn more, visit www.bitstamp.net.-Image credit: lawcain/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
20/06/2112m 50s

BREAKDOWN: What Are the Prospects for a Bitcoin Standard in Africa?

Plus more bitcoin institutional news and a FUD recap on this edition of the "Weekly Recap."This episode is sponsored by Nexo.io and Bitstamp.This week on "The Breakdown’s Weekly Recap" NLW covers:More institutional bitcoin news, including a new Morgan Stanley fund from NYDIG and FS Investments and a Goldman Sachs trading partnership with Galaxy Digital A resurgence of “crypto is for criminals” FUD plus new China miner shutdowns in Sichuan The latest debates around El Salvador’s bitcoin law Rumblings of bitcoin in Nigeria, CFA countries and Ethiopia-Nexo.io lets you borrow against your crypto at 6.9% APR, earn up to 12% on your idle assets, and exchange instantly between 100+ market pairs with the tap of a button. Get started at nexo.io.-Bitstamp is the world’s longest-running cryptocurrency exchange, supporting investors, traders and leading financial institutions since 2011. With a proven track record and dedication to personal customer service with a human touch, Bitstamp’s fast, secure and reliable crypto investing platform is trusted by over four million people worldwide. To learn more, visit www.bitstamp.net.-Image credit: tallchris/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
19/06/2113m 26s

BREAKDOWN: The Shorter Cycle Theory With Larry Cermak

"It's either shorter-term bear markets, or it's just going to zero. And I really don't believe it's going to go to zero."This episode is sponsored by Nexo.io and Bitstamp.The idea of a multiyear supercycle is fading as shorter cycles take their place. In this episode, NLW and guest Larry Cermak, director of research at The Block, discuss the transformation of the supercycle timeline as the crypto space evolves. The discussion includes:An analysis of the macro-narrative and the current “wait-and-see” modeShorter cycles taking hold as the crypto space maturesThe larger institutional narrative promised a bevy of substantial allocators to contribute to the market. That narrative, however, has weakened over time as the promise falls short. Add on the uncertainty from China’s partial ban on mining and Tesla’s environmental concerns, and the narrative continues to lose momentum. What narrative will take over next? When will this “wait-and-see” mode end?Historically, crypto was perceived to fall into semi-stable cycles. For a couple of years, prices would rise, and for the next two or three years after, prices crash. However, with longer-term investors and a broader focus on usability over speculation, is there now a foundation for a more stable market with shorter cycles? -Nexo.io lets you borrow against your crypto at 6.9% APR, earn up to 12% on your idle assets, and exchange instantly between 100+ market pairs with the tap of a button. Get started at nexo.io.-Bitstamp is the world’s longest-running cryptocurrency exchange, supporting investors, traders and leading financial institutions since 2011. With a proven track record and dedication to personal customer service with a human touch, Bitstamp’s fast, secure and reliable crypto investing platform is trusted by over four million people worldwide. To learn more, visit www.bitstamp.net.-Image credit: metamorworks/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
18/06/2135m 11s

BREAKDOWN: From a $1T Asset to a $100T Network – Everything We Learned About the Bitcoin Mining Council From Michael Saylor's Twitter Spaces

With more than 7,000 listeners, Michael Saylor and many North American miners added color to the initiative. This episode is sponsored by Nexo.io and Bitstamp.On today’s episode of “The Breakdown,” NLW first follows up on yesterday’s episode about the FOMC meeting and a potential future shift in Fed policy. As many expected, the Fed kept its short-term policy the same, but revised forward its estimates for when it will begin rate hikes to 2023. The main discussion focuses on the latest from the Bitcoin Mining Council. Yesterday, MicroStrategy CEO Michael Saylor hosted a 90-minute discussion via Twitter spaces that featured many pointed questions. NLW argues that what’s clear from the session is Saylor is focused on scaling bitcoin from a $1 trillion asset to a $100 trillion network and fighting anything that stands in the way. -Nexo.io lets you borrow against your crypto at 6.9% APR, earn up to 12% on your idle assets, and exchange instantly between 100+ market pairs with the tap of a button. Get started at nexo.io.-Bitstamp is the world’s longest-running cryptocurrency exchange, supporting investors, traders and leading financial institutions since 2011. With a proven track record and dedication to personal customer service with a human touch, Bitstamp’s fast, secure and reliable crypto investing platform is trusted by over four million people worldwide. To learn more, visit www.bitstamp.net.-Image credit: CoinDesk TVSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
17/06/2117m 11s

BREAKDOWN: Will the Fed Shift Policy Due to Increasing Inflation?

More sense of the changes coming ahead of today’s FOMC briefing. This episode is sponsored by Nexo.io and Bitstamp.On today’s episode, NLW looks at the Federal Open Markets Committee briefing coming up this afternoon and discusses what it might signal in terms of future monetary policy. The discussion includes:How the Great Financial Crisis inspired “the largest monetary policy experiment in history”2013’s “Taper Tantrum” The return to GFC era policies during COVID-19The insurgency of meme traders Why inflation is a self-fulfilling prophecy -Nexo.io lets you borrow against your crypto at 6.9% APR, earn up to 12% on your idle assets, and exchange instantly between 100+ market pairs with the tap of a button. Get started at nexo.io.-Bitstamp is the world’s longest-running cryptocurrency exchange, supporting investors, traders and leading financial institutions since 2011. With a proven track record and dedication to personal customer service with a human touch, Bitstamp’s fast, secure and reliable crypto investing platform is trusted by over four million people worldwide. To learn more, visit www.bitstamp.net.-Image credit: Drew Angerer/Getty Images NewsSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
16/06/2114m 47s

BREAKDOWN: Will a US Digital Dollar Protect Privacy?

A digital dollar hearing today in Congress could provide insight into the future of USD.This episode is sponsored by Nexo.io and Bitstamp.The question of digital currencies is a question of power. On today’s episode, NLW explores that power in multiple dimensions: between states, between states and companies and within states with regard to their citizens.NLW looks at recent regulatory announcements, including:The SEC leaving crypto off its regulatory priorities list A House hearing on the digital dollar-Nexo.io lets you borrow against your crypto at 6.9% APR, earn up to 12% on your idle assets, and exchange instantly between 100+ market pairs with the tap of a button. Get started at nexo.io.-Bitstamp is the world’s longest-running cryptocurrency exchange, supporting investors, traders and leading financial institutions since 2011. With a proven track record and dedication to personal customer service with a human touch, Bitstamp’s fast, secure and reliable crypto investing platform is trusted by over four million people worldwide. To learn more, visit www.bitstamp.net.-Image credit: sakhorn38/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
15/06/2118m 27s

BREAKDOWN: 'Bat-S**t Crazy’ Paul Tudor Jones on the Fed, Inflation and Why He Recommends 5% in Bitcoin

The originator of the “Great Monetary Inflation” thesis that helped jumpstart this bull run weighs in on bitcoin and macro.This episode is sponsored by Nexo.io and Bitstamp.Just when it seemed like the “Economic Empowerment” narrative coming out of El Salvador was poised to overtake the inflation/digital gold narrative, one of that viewpoint’s strongest advocates was back on CNBC today. Hedge fund legend Paul Tudor Jones discussed why he doesn’t think inflation is transitory, why he recommends 5% in bitcoin and why the outcomes in the market will be based largely on what the Fed does next. Also on this episode:Elon Musk says Tesla will accept BTC as payment again once renewable mining hits 50%Michael Saylor and MicroStrategy sell $500 million in bonds to buy more BTCMore shockwaves from El Salvador’s landmark bitcoin law -Nexo.io lets you borrow against your crypto at 6.9% APR, earn up to 12% on your idle assets, and exchange instantly between 100+ market pairs with the tap of a button. Get started at nexo.io.-Bitstamp is the world’s longest-running cryptocurrency exchange, supporting investors, traders and leading financial institutions since 2011. With a proven track record and dedication to personal customer service with a human touch, Bitstamp’s fast, secure and reliable crypto investing platform is trusted by over four million people worldwide. To learn more, visit www.bitstamp.net.-Image credit: Kevin Mazur/Getty Images EntertainmentSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
14/06/2112m 8s

BREAKDOWN: Is Bitcoin a Trojan Horse for Freedom?

A reading of Alex Gladstein’s recent essay.This episode is sponsored by Nexo.io.This week’s “Long Reads Sunday” presents a reading of Human Rights Foundation CSO Alex Gladstein’s piece “Bitcoin Is a Trojan Horse for Freedom.”  NLW contextualizes the piece with this week’s landmark legislation out of El Salvador and the concerns some international observers have about that country’s president. -Nexo.io lets you borrow against your crypto at 6.9% APR, earn up to 12% on your idle assets, and exchange instantly between 100+ market pairs with the tap of a button. Get started at nexo.io.-Image credit: TwilightEye/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
13/06/2116m 56s

BREAKDOWN: Bitcoin Is Economic Empowerment

Driven by El Salvador, a new narrative for global bitcoin adoption is emerging.This episode is sponsored by Nexo.io.On this edition of “The Breakdown’s Weekly Recap,” NLW looks at:Why the El Salvador news didn’t (immediately) impact bitcoin’s priceHow narratives set the tone for new entrants to the bitcoin marketHow the digital gold/inflation narrative relates to the economic empowerment narrativeThe bitcoin game theory for small nations to invest in bitcoin How this could impact ESG critiques -Nexo.io lets you borrow against your crypto at 6.9% APR, earn up to 12% on your idle assets, and exchange instantly between 100+ market pairs with the tap of a button. Get started at nexo.io.-Image credit: bakgwei1/Flickr, modified by CoinDeskSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
12/06/2117m 15s

BREAKDOWN: An Interview With Bitcoin Beach, the Community That Inspired El Salvador to Adopt the Bitcoin Standard

Featuring Bitcoin Beach’s Mike Peterson. This episode is sponsored by Nexo.io.On today’s episode, NLW is joined by Mike Peterson, director of Bitcoin Beach. Bitcoin Beach is a community project in El Salvador that has spent the last two years helping individuals and companies integrate bitcoin into their daily lives and long-term habits. President Nayib Bukele cited Bitcoin Beach in inspiring El Salvador’s bitcoin legal tender law. In this interview, NLW and Mike discuss:How he came to reside in El SalvadorHow the bitcoin community project startedWhat drove community adoption at the beginningHow remittances and COVID-19 solidified the value of BTC to the community How bitcoin has changed how people think about investing How international bitcoiners such as Miles Suter and Jack Mallers got to know the project Where the project stands today (complete with 22 different community initiatives) How bitcoiners can get involvedFind our guest online:Twitter: @BitcoinbeachWeb: www.bitcoinbeach.com-Nexo.io lets you borrow against your crypto at 6.9% APR, earn up to 12% on your idle assets, and exchange instantly between 100+ market pairs with the tap of a button. Get started at nexo.io.-Image credit: Mike Peterson/Bitcoin BeachSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
11/06/2143m 58s

BREAKDOWN: The Empire Strikes Back – Inflation Hits 5% While Elizabeth Warren Goes After Bitcoin

China shuts down mining and starts censoring crypto exchange terms while U.S. senators and CFTC commissioners attack crypto.This episode is sponsored by Nexo.io.In a week so filled with the optimism coming out of El Salvador, of course there had to be another side of the story. On today’s episode, NLW looks at three examples of the existing power structure fighting back against the rise of crypto:China shutting down mining in two provinces and apparent censorship of exchange-related terms on Baidu and WeiboA CFTC commissioner’s extremely negative comments on decentralized finance Sen. Elizabeth Warren’s full-throated assault on bitcoin from yesterday’s Senate Banking Committee hearingIs bitcoin devolving to just another partisan issue? -Nexo.io lets you borrow against your crypto at 6.9% APR, earn up to 12% on your idle assets, and exchange instantly between 100+ market pairs with the tap of a button. Get started at nexo.io.-Image credit: Tom Williams-Pool/Getty Images/Getty Images NewsSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
10/06/2113m 41s

BREAKDOWN: El Salvador Officially Made Bitcoin Legal Tender as President Bukele Casually Chatted on Twitter Spaces

Recapping a historic evening. This episode is sponsored by Nexo.io.Last night, El Salvador voted to pass the bill making Bitcoin legal tender. As representatives debated the bill, the President of El Salvador Nayib Bukele and his brother and campaign manager Karim Bukele surprise-joined a Twitter Space hosted by Nic Carter, where the president would spend about an hour answering questions. In today’s episode, NLW breaks down:The substance of the bill Specific elements of the plan from the Spaces chat - including Volcano mining and the Bitcoin cost of foreign residency The historical significance of the moment for Bitcoin, media, El Salvador and more -Nexo.io lets you borrow against your crypto at 6.9% APR, earn up to 12% on your idle assets, and exchange instantly between 100+ market pairs with the tap of a button. Get started at nexo.io.-Image credit: Twitter Spaces ScreenshotSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
09/06/2119m 2s

BREAKDOWN: Biden’s Top Antitrust Adviser Is a Bitcoin Millionaire

Why being anti-Big Tech monopoly and pro-bitcoin are clearly compatible ideologies. This episode is sponsored by Nexo.io.On today’s episode, NLW looks at a grab bag of recent news:El Salvador’s bitcoin announcement makes waves as politicians from six more Central and South American countries change their profiles to laser eyesDonald Trump resurfaces to rip bitcoin again No, the FBI didn’t break bitcoin Why Tim Wu’s bitcoin holdings are intellectually consistent with his antitrust stance -Nexo.io lets you borrow against your crypto at 6.9% APR, earn up to 12% on your idle assets, and exchange instantly between 100+ market pairs with the tap of a button. Get started at nexo.io.-Image credit: Drew Angerer/Getty Images NewsSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
08/06/2111m 41s

BREAKDOWN: El Salvador Poised to Become the First Bitcoin Country: Just How Big a Deal Is This?

A discussion of the implication of El Salvador’s announcement for Salvadorans, bitcoin and the world at large. This episode is sponsored by Nexo.io.On Saturday, the Bitcoin 2021 organizers teased that one of the biggest announcements in bitcoin’s history was coming.That announcement ended up being from El Salvador President Nayib Bukele, who shared that he was advancing a bill to make bitcoin legal tender in the country. Since then there has been a huge amount of debate and discussion about the implications and the significance of the move. In this episode, NLW breaks down the story from multiple angles.-Nexo.io lets you borrow against your crypto at 6.9% APR, earn up to 12% on your idle assets, and exchange instantly between 100+ market pairs with the tap of a button. Get started at nexo.io.-Image credit: Camilo Freedman/Bloomberg/Getty ImagesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
07/06/2125m 25s

BREAKDOWN: What a New Era of Big Government Could Mean for Bitcoin

Does the Biden budget signal a new era of deeper government involvement in American’s lives? This episode is sponsored by Nexo.io.A reading of David Z. Morris’ piece for CoinDesk “Has COVID-19 Made Biden’s Big Spending the New Normal?”. -Nexo.io lets you borrow against your crypto at 6.9% APR, earn up to 12% on your idle assets, and exchange instantly between 100+ market pairs with the tap of a button. Get started at nexo.io.-Image credit: cmannphoto/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
06/06/2112m 23s

BREAKDOWN: Is the Bitcoin Bull Market Over?

After the third-worst month in bitcoin price history, it’s worth asking.This episode is sponsored by Nexo.io.Today on “The Breakdown’s Weekly Recap” NLW looks at a growing number of predictions of a new “crypto winter” as well as some reviews of how companies and DAOs are preparing for that possibility. He shares poll results from whether Bitcoin Twitter thinks this bull market is over and discusses how the macro landscape may be playing into it. -Nexo.io lets you borrow against your crypto at 6.9% APR, earn up to 12% on your idle assets, and exchange instantly between 100+ market pairs with the tap of a button. Get started at nexo.io.-Image credit: iNueng/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
05/06/219m 18s

BREAKDOWN: Who Matters More to Bitcoin – Whales or Plebs?

Who is buying? Who is selling? And who is driving the future of the space? This episode is sponsored by Nexo.io.Today on the Brief:May’s middling jobs reportA ransomware updateSquare building a bitcoin hardware walletOur main discussion looks at the various constituencies within bitcoin and asks who has what type of power to shape the network. Specifically, NLW homes in on recent price action and the divergent actions of large holders and small holders over the month of May.-Nexo.io lets you borrow against your crypto at 6.9% APR, earn up to 12% on your idle assets, and exchange instantly between 100+ market pairs with the tap of a button. Get started at nexo.io.-Image credit: iNueng/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
04/06/2114m 25s

BREAKDOWN: Chinese State Media Indicates China Is NOT Banning Crypto Trading

A series of new reports from state-owned media aren’t kind to crypto trading, but they reinforce that it is still allowed.This episode is sponsored by Nexo.io.Today’s episode looks at crypto in geopolitical context, focusing on:A follow-up on the ransomware surge, with experts suggesting that it’s not about crypto payments but about the “ransomware-as-a-service” distribution modelA look at why a Russian opposition leader is moving his supporters to crypto fundraising exclusively A review of a series of reports from Chinese state-owned media that, while trying to convince citizens to stay away, nevertheless reinforce they still have agency to own and trade crypto-Nexo.io lets you borrow against your crypto at 6.9% APR, earn up to 12% on your idle assets, and exchange instantly between 100+ market pairs with the tap of a button. Get started at nexo.io.-Image credit: Igor Kutyaev/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
03/06/2110m 28s

BREAKDOWN: Ransomware Is the Next Big Bitcoin FUD

With a rise in ransomware attacks, many are jumping to blame bitcoin and crypto. Are they right?This episode is sponsored by Nexo.io.Today on the Brief:China’s next digital yuan trialMore Bitcoin ETF delaysStandard Chartered to open crypto prime brokerageOur main discussion focuses on the rise of ransomware. NLW examines:The real reasons ransomware is on the rise The factors beyond crypto payments that contribute to ransomware Why some are using ransomware as justification for crypto bansWhy crypto bans would be painfully ineffective at stopping ransomwareWhy the Biden Administration’s response to ransomware should give the crypto industry cause for optimism-Nexo.io lets you borrow against your crypto at 6.9% APR, earn up to 12% on your idle assets, and exchange instantly between 100+ market pairs with the tap of a button. Get started at nexo.io.-Image credit: mikkelwilliam/iStock/Getty ImagesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
02/06/2114m 22s

BREAKDOWN: More Crypto Regulation Is Likely Coming, but Bans Are Not

An exploration of the shifting tones of U.S. regulators around crypto.This episode is sponsored by Nexo.io.Today’s episode includes a quick update on Marathon’s bitcoin mining about-face. Our main discussion focuses on the changing shape of crypto regulatory discussion in the U.S. While more regulation appears to be on the horizon, that regulation likely reduces the chance of more extreme actions.-Nexo.io lets you borrow against your crypto at 6.9% APR, earn up to 12% on your idle assets, and exchange instantly between 100+ market pairs with the tap of a button. Get started at nexo.io.-Image credit: Leonid Sukala/iStock/Getty ImagesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
01/06/2114m 47s

BREAKDOWN: Revisiting Paul Tudor Jones’ ‘Great Monetary Inflation’ Thesis

A replay of NLW’s original episode on the topic from May 2020.This episode is sponsored by Nexo.io.A year ago this month, legendary hedge fund manager Paul Tudor Jones released a paper about the “Great Monetary Inflation.” It set the entire narrative backdrop for the institutional move into bitcoin, and also revealed PTJ as a bitcoiner. This is a replay of NLW’s original episode breaking down why the paper mattered.-Nexo.io lets you borrow against your crypto at 6.9% APR, earn up to 12% on your idle assets, and exchange instantly between 100+ market pairs with the tap of a button. Get started at nexo.io.-Image credit: Michael Nagle/Bloomberg/Getty ImagesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
31/05/2127m 11s

HARD PROBLEMS: Ransomware, Sandboxes and Security

American Hacker Jeffrey "Sneak" Paul joins Bram for a deep-dive into the hard problems behind the growing rash of ransomware attacks, what it means and what we can do about it.This episode is sponsored by Nexo.io and Bitstamp.On this episode we’re digging into, not a new problem, but an old problem that seems to be getting worse as a growing proportion of our lives are spent connected, to each other, to the internet and inadvertently to criminals who use technology to extort money, often in the form of cryptocurrencies. It’s called ransomware, and to help us understand and sort through today’s topic, Hard Problems host and Chia CEO Bram Cohen is joined by special guest Jeffrey Paul, better known as Sneak.On May 7th, an employee of Colonial Pipeline Company found a ransom note on one of their computers. The pipeline provides nearly half of the fuel for the east coast and they were locked out. Days later, they’d admit to paying 4.4 million dollars in bitcoin to the group who did it. It’s the most recent high profile example, but it’s certainly not the only one. Going back through CoinDesk’s archive, I found nearly a hundred articles written over the years. We’ve seen hospital systems and industrial players extorted along with lots of normal people. And those are the ones that we hear about, it’s assumed that many victims of extortion simply pay the ransom and keep it to themselves.This episode was recorded live over the audio only social network known as Clubhouse. If you'd like to join our live audience, our next recording session is Wednesday June 2nd, 2021 at Noon Pacific/3pm Eastern time where we'll be discussing modern music, it's eccentricities and how it's changing as technology plays an ever-larger role with grammy nominated composer and musical pioneer BT. If you're not already on Clubhouse, you can use this link to get around the invitation requirement, set up your account and RSVP for the event.-Nexo.io lets you borrow against your crypto at 6.9% APR, earn up to 12% on your idle assets, and exchange instantly between 100+ market pairs with the tap of a button. Get started at nexo.io.-Bitstamp is the world’s longest-running cryptocurrency exchange, supporting investors, traders and leading financial institutions since 2011. With a proven track record and dedication to personal customer service with a human touch, Bitstamp’s fast, secure and reliable crypto investing platform is trusted by over four million people worldwide. To learn more, visit www.bitstamp.net.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
30/05/211h 7m

BREAKDOWN: Networks vs. Governments – Could Crypto-Powered Digital Communities Challenge the Power of Cities and States?

A reading of Balaji Srinivasan’s essay “The Network Union.”This episode is sponsored by Nexo.io and Bitstamp.What exists between a Facebook group and a formal organization? Right now, not much. But in the future, Balaji Srinivasan argues, blockchain-powered communities will be able to exert the power to help them develop the polities of the future. On this “Long Reads Sunday,” NLW reads Balaji’s “The Network Union.”-Nexo.io lets you borrow against your crypto at 6.9% APR, earn up to 12% on your idle assets, and exchange instantly between 100+ market pairs with the tap of a button. Get started at nexo.io.-Bitstamp is the world’s longest-running cryptocurrency exchange, supporting investors, traders and leading financial institutions since 2011. With a proven track record and dedication to personal customer service with a human touch, Bitstamp’s fast, secure and reliable crypto investing platform is trusted by over four million people worldwide. To learn more, visit www.bitstamp.net.-Image credit: duncan1890/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
30/05/2116m 17s

BREAKDOWN: Is the ‘Bitcoin Supercycle’ Theory Dead?

Given the past few weeks’ price actions, has the popular theory been disproven? This episode is sponsored by Nexo.io and Bitstamp.On this edition of “The Breakdown’s Weekly Recap,” NLW looks at what this cycle has taught us in terms of:Who is investing and how it’s influencing marketsHow market structure and narrative interact to shape price actionWhy stablecoins could be a dark horse for reducing the duration of future market downturns -Nexo.io lets you borrow against your crypto at 6.9% APR, earn up to 12% on your idle assets, and exchange instantly between 100+ market pairs with the tap of a button. Get started at nexo.io.-Bitstamp is the world’s longest-running cryptocurrency exchange, supporting investors, traders and leading financial institutions since 2011. With a proven track record and dedication to personal customer service with a human touch, Bitstamp’s fast, secure and reliable crypto investing platform is trusted by over four million people worldwide. To learn more, visit www.bitstamp.net.-Image credit: blackdovfx/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
29/05/2111m 31s

BREAKDOWN: Cathie Wood on Where Bitcoin Fits in a World With Deflation Rather than Inflation

A discussion with the ARK founder on bitcoin, ESG and, of course, Elon Musk. This episode is sponsored by Nexo.io and Bitstamp.Today’s special edition of “The Breakdown'' is a replay of NLW’s fireside chat with ARK’s Cathie Wood that premiered yesterday as a closing keynote at Consensus 2021. In this conversation, they discuss:How macro going risk-off has impacted bitcoin What was driving Elon’s about-face China and “green” mining Investing in technology innovationWhy ARK is investing in Ethereum What role bitcoin plays in a world characterized by deflation rather than inflation-Nexo.io lets you borrow against your crypto at 6.9% APR, earn up to 12% on your idle assets, and exchange instantly between 100+ market pairs with the tap of a button. Get started at nexo.io.-Bitstamp is the world’s longest-running cryptocurrency exchange, supporting investors, traders and leading financial institutions since 2011. With a proven track record and dedication to personal customer service with a human touch, Bitstamp’s fast, secure and reliable crypto investing platform is trusted by over four million people worldwide. To learn more, visit www.bitstamp.net.-Image credit: CoinDeskSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
28/05/2136m 16s

BREAKDOWN: ‘Crypto Is Here to Stay’ – Activist Investor Carl Icahn Eyes a Crypto Position in the Billions

A look at the macro discussion on inflation and why it’s pushing people like Icahn to crypto.This episode is sponsored by Nexo.io and Bitstamp.Today on the Brief:PayPal to allow crypto withdrawalsRegulatory rumblings from the SEC and FinCENBitcoin moving off exchanges againIn our main discussion, NLW looks at the macro conversation around inflation, including:How concerns around inflation and the Federal Reserve withdrawing support have caused markets to go risk-offWhere bitcoin fits in a risk-on/risk-off contextWhy billionaire Carl Icahn is eyeing a $1B-$1.5B crypto bet-Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Bitstamp is the world’s longest-running cryptocurrency exchange, supporting investors, traders and leading financial institutions since 2011. With a proven track record and dedication to personal customer service with a human touch, Bitstamp’s fast, secure and reliable crypto investing platform is trusted by over four million people worldwide. To learn more, visit www.bitstamp.net.-Image credit: Jeremy Bales/Bloomberg/Getty ImagesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
27/05/2115m 12s

BREAKDOWN: What's Really Behind China's Bitcoin Mining Ban?

An update on the Bitcoin Mining Council and the China Mining Ban.This episode is sponsored by Nexo.io and Bitstamp.Today on The Breakdown, NLW covers:More information about the Bitcoin Mining Council, and why its members say they’re strictly focused on energy transparency A new, temporary crypto mining ban in IranThe latest on the China mining ban, including new proposed rules from Inner Mongolia, more on-chain data about miner activity, and a very different interpretation of the CCP’s motivations for the current action -Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Bitstamp is the world’s longest-running cryptocurrency exchange, supporting investors, traders and leading financial institutions since 2011. With a proven track record and dedication to personal customer service with a human touch, Bitstamp’s fast, secure and reliable crypto investing platform is trusted by over four million people worldwide. To learn more, visit www.bitstamp.net.-Image credit: Qilai Shen/Bloomberg/Getty ImagesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
26/05/2113m 42s

BREAKDOWN: Bitcoin Mining Council – A "Green" Advance for BTC or a Trojan Horse for Centralization?

The community had extremely mixed reactions to Michael Saylor and Elon Musk’s new initiative. This episode is sponsored by Nexo.io and Bitstamp.Yesterday, Michael Saylor and Elon Musk surprised the Bitcoin community when they announced a new "green" mining initiative that would see many of North America’s leading mining operators come together to develop common energy reporting standards as well as advocate for greener mining worldwide. In this episode, NLW breaks down the community’s response, which ranged from enthusiastic to downright aghast. He discusses why there are such big differences in how people are interpreting the initiative and what their reasons for supporting or questioning it say about Bitcoin as a network.-Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Bitstamp is the world’s longest-running cryptocurrency exchange, supporting investors, traders and leading financial institutions since 2011. With a proven track record and dedication to personal customer service with a human touch, Bitstamp’s fast, secure and reliable crypto investing platform is trusted by over four million people worldwide. To learn more, visit www.bitstamp.net.-Image credit: matejmo/iStock/Getty Images Plus, Britta Pedersen-Pool/Getty Images Entertainment and Michael Saylor/Twitter, modified by CoinDeskSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
25/05/2120m 23s

BREAKDOWN: Hedge Fund Billionaire Ray Dalio Has Officially Bought Bitcoin

A big shift from one of finance’s biggest names, plus a recap on the latest China-Bitcoin intrigue.This episode is sponsored by Nexo.io and Bitstamp.Today’s episode of “The Breakdown” is split into two parts. In part one, NLW recaps the latest out of China, including:Interpretations of Friday’s surprise targeting in a speech by the Vice PremierA weekend market crash, the second of the week Miner selling and the motivations behind itWhat to watch for in the coming days In part two, he puts in context the news that Bridgewater’s Ray Dalio owns bitcoin, looking at the larger institutional pattern that has driven the bitcoin bull and Dalio’s specific concerns about currency devaluation. -Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Bitstamp is the world’s longest-running cryptocurrency exchange, supporting investors, traders and leading financial institutions since 2011. With a proven track record and dedication to personal customer service with a human touch, Bitstamp’s fast, secure and reliable crypto investing platform is trusted by over four million people worldwide. To learn more, visit www.bitstamp.net.-Image credit: Takaaki Iwabu/Bloomberg/Getty ImagesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
24/05/2116m 0s

BREAKDOWN: The Unexplored Risks of a US Digital Dollar

A reading of two recent essays on central bank digital currencies.This episode is sponsored by Nexo.io.For this week’s “Long Reads Sunday,” NLW reads:“What If Somebody Hacks the Money Pipeline Next?” By David Z. Morris“A Central Bank Digital Currency Would Be Bad for the US” by Dante Disparte-Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Join thousands of newsmakers and influencers talking the future of money at Consensus 2021, a live virtual experience from CoinDesk. (Use discount code "BREAKDOWN" to save $25!) -Image credit: zbruch/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
23/05/2116m 6s

BREAKDOWN: Why the Carlyle Group’s David Rubenstein Says Governments Can't Stop Crypto

One of Capitol Hill’s most connected insiders says crypto is here to stay.This episode is sponsored by Nexo.io.On this week’s “Breakdown Weekly Recap,” NLW explores U.S. regulatory FUD. He specifically looks at recent statements from the SEC’s Gary Gensler, as well as new Treasury Dept. policy that wants businesses to report crypto transactions of over $10,000 to the Internal Revenue Service. He argues that this is a “bureaucrat's bull market” that will be focused on compliance, not banning.-Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Join thousands of newsmakers and influencers talking the future of money at Consensus 2021, a live virtual experience from CoinDesk. (Use discount code "BREAKDOWN" to save $25!) -Image credit: Jacob Kepler/Bloomberg/Getty ImagesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
22/05/2111m 40s

BREAKDOWN: Why Bitcoiners Are Rooting for This Latest China Mining Ban to Finally, Actually Be Real

Could new pressure from the CCP remove coal-powered hash power from the bitcoin mix? This episode is sponsored by Nexo.io.This week has been China story after China story in the world of crypto. Increasingly, NLW argues, bitcoiners are getting sick of the baggage that Chinese mining and Chinese state involvement place on bitcoin and crypto as a whole. In this episode, he looks at the latest news from China and points to interpretations from a number of voices that show why what appears to be FUD could actually be a welcomed development.-Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Join thousands of newsmakers and influencers talking the future of money at Consensus 2021, a live virtual experience from CoinDesk. (Use discount code "BREAKDOWN" to save $25!) -Image credit: BeeBright/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
21/05/2110m 47s

BREAKDOWN: The Real Story of the Crypto Crash Has Very Little to Do With Elon or China

It wasn’t narrative but market structure that drove yesterday’s big move down. This episode is sponsored by Nexo.io.In this episode of “The Breakdown,” NLW looks at the market structure dimension of the crypto crash, leveraging insights from Alameda Research, Willy Woo and many more. He explores: Why the recent bull run was driven by derivatives more than by spot tradingHow crypto moving onto exchanges signaled the big move downHow cascading liquidations made the down moves even more extreme What the industry thinks about 100x leverageInsider reports on how institutional investors responded -Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Join thousands of newsmakers and influencers talking the future of money at Consensus 2021, a live virtual experience from CoinDesk. (Use discount code "BREAKDOWN" to save $25!) -Image credit: Andrey Suslov/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
20/05/2114m 21s

BREAKDOWN: The Bloodbath-ening – Is This the End of the Crypto Bull Market?

In a sea of red, investors ask whether this is just a bull market pullback or represents a more fundamental bearish turn.This episode is sponsored by Nexo.io.In one of the bloodiest days in recent crypto history, NLW looks at the reasons behind the wild market crash and explores whether it means an end to the bull market. As part of this, he explores five different categories of fear, uncertainty and doubt (FUD):Elon energy FUDResurgent tether FUDChina ban FUDUsed for crime FUDRegulatory FUD -Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Join thousands of newsmakers and influencers talking the future of money at Consensus 2021, a live virtual experience from CoinDesk. (Use discount code "BREAKDOWN" to save $25!) -Image credit: RedChivo/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
19/05/2115m 5s

OPINIONATED: QuadrigaCX – An Exit Scam or Just a Crypto Tragedy

This week, “Opinionated” co-hosts Ben Schiller, Anna Baydakova and Danny Nelson are talking to Aaron Lammer, author of a podcast series about the now-defunct Canadian crypto exchange QuadrigaCX.This episode is sponsored by Nexo.io.The QuadrigaCX saga, first broken by our colleague Nik De and still not finished, could be a dark detective novel: Gerald Cotten, a CEO of a cryptocurrency exchange QuadrigaCX, reportedly dies in India, the crypto wallets are empty and his widow inherits a mind-blowing fortune, while users are trying to get their money back in court for years (the case is still ongoing). Aaron Lammer, an experienced crypto podcaster, took on a tricky task to tell the QuadrigaCX story to people who might not know about crypto but definitely can learn a thing or two from this thriller story. Aaron told us how he was investigating the QuadrigaCX story and trying to explain the basics of crypto to a non-crypto audience. The first episodes of his show, “Exit Scam,” are now available for listening.Aaron interviews a very diverse group of people who have insight into what could have happened at QuadrigaCX, from a private detective specializing in fake deaths to Michael Perklin, chief information security officer at ShapeShift, who knew Gerald Cotten personally. He walks us through what we know and don’t know about QuadrigaCX and its founders, and how the centuries-old history of scams and financial fraud got a new life in crypto. Enjoy the conversation, as we did, and definitely check out the podcast, an arresting detective story with elements of Crypto 101 course for everyone. Aaron’s Twitter handle is: @aaronlammer. -Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Join thousands of newsmakers and influencers talking the future of money at Consensus 2021, a live virtual experience from CoinDesk. (Use discount code "BREAKDOWN" to save $25!) -Image credit: Ismagilov/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
19/05/2138m 17s

BREAKDOWN: No, China Didn’t Just Ban Crypto

Despite inflammatory headlines, today’s note from the People’s Bank of China was a reaffirmation of central bank policy from 2017.This episode is sponsored by Nexo.io.On today’s episode, NLW provides an extended brief style episode, covering:Crypto’s allies on Capitol HillIs “long bitcoin” the most crowded trade in the world?How much of the dip was just Tax Day?No, China didn’t just ban crypto Pomp launches Bitcoin Pizza -Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Join thousands of newsmakers and influencers talking the future of money at Consensus 2021, a live virtual experience from CoinDesk. (Use discount code "BREAKDOWN" to save $25!) -Image credit: btgbtg/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
18/05/2110m 27s

BREAKDOWN: Bitcoin Is the ‘No Heroes’ Asset

Bitcoin Twitter’s latest skirmish with Elon Musk has as much to say about the nature of power in a social media landscape as it does about bitcoin.This episode is sponsored by Nexo.io.If you thought last week’s Elon intrigue was over, think again. This weekend saw an absolute showdown at the bitcoin corral, with Musk seriously losing his cool. In this episode, NLW explores the tussle from a number of dimensions:What it says about the efficacy of Bitcoin Maximalism What is says about Elon Musk specificallyWhat it says about power in a social media-powered world-Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Join thousands of newsmakers and influencers talking the future of money at Consensus 2021, a live virtual experience from CoinDesk. (Use discount code "BREAKDOWN" to save $25!) -Image credit: hocus-focus/iStock/Getty Images Plus modified by CoinDeskSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
17/05/2118m 14s

HARD PROBLEMS: Inside Bram Cohen's Proof-of-Work Reinvention

Bitcoin's 'Nakamoto Consensus' changed the world. For the first time ever, strangers on the internet were empowered by a system that allowed them to individually and jointly track who owned which internet-native items... First money, then early stage (and often illegal) investments, followed by digital cats, multi-million dollar art, viral memes and soon enough, well, everything.This episode is sponsored by Nexo.io and Bitstamp.If there's one complaint (whether right or wrong) about Satoshi's breakthrough, it's the energy cost it comes at.Whether you're talking about Bitcoin or the myriad other proof of work systems, 'Nakamoto Consensus' is a "competitive money burning process." Each time transactions are added to the permanent history it's a race to see who can prove their commitment to the network by finding the winning raffle ticket the fastest. Everyone races but only one wins and when each block is found, the process starts over. It's not a perfect system, but it works and it's the best one we've found... So far.In this premiere episode of "Hard Problems", join BitTorrent inventor and Chia CEO Bram Cohen, CoinDesk's Adam B. Levine, community members JMHands and Michel Erb for a lively discussion of Bram's newly launched reinvention of distributed, proof of work consensus known as Proofs of Space and Time.In it, we discussThe challenges Bram believes his new system resolvesHow 'Proofs of Space and Time' works compared to traditional 'Nakamoto Consensus'The differences between Bitcoin mining and Chia farmingWhy improving proof-of-work is the better choice than proof-of-stake or other consensus systemsPlus many questions from the live Clubhouse audience, with a special line of questioning from Tuur DemeesterIf you'd like to join the live audience for our next Clubhouse recording where Jeffrey "Sneak" Paul joins Bram to dig into the hard and growing problems behind Ransomware, follow 'bramcohen' and 'adamblevine' on Clubhouse.-Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Bitstamp is the world’s longest-running cryptocurrency exchange, supporting investors, traders and leading financial institutions since 2011. With a proven track record and dedication to personal customer service with a human touch, Bitstamp’s fast, secure and reliable crypto investing platform is trusted by over four million people worldwide. To learn more, visit www.bitstamp.net.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
16/05/2155m 2s

BREAKDOWN: Bitcoin Is Much More Than a Speculative Asset

Stories from Nigeria, Sudan and Ethiopia show how bitcoin is being used in the real world.This episode is sponsored by Nexo.io and Bitstamp.This week’s “Long Reads Sunday” is a reading of Alex Gladstein’s latest piece, “Check Your Financial Privilege.” It follows the stories of people in three African nations who paint a very different picture from the rampant speculation you hear about in the news. -Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Bitstamp is the world’s longest-running cryptocurrency exchange, supporting investors, traders and leading financial institutions since 2011. With a proven track record and dedication to personal customer service with a human touch, Bitstamp’s fast, secure and reliable crypto investing platform is trusted by over four million people worldwide. To learn more, visit www.bitstamp.net.-Join thousands of newsmakers and influencers talking the future of money at Consensus 2021, a live virtual experience from CoinDesk. (Use discount code "BREAKDOWN" to save $25!) -Image credit: kertlis/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
16/05/2131m 15s

BREAKDOWN: Vitalik vs. Dog Money – Recapping a Crazy Week in Crypto History

From Elon’s shenanigans to Vitalik’s SHIB rug pull, this was one for the history books.This episode is sponsored by Nexo.io and Bitstamp.On this edition of “The Breakdown’s Weekly Recap,” NLW discusses:Why the Elon Musk issue is really one of power and audienceWhat the Colonial Pipeline attack reveals about our critical infrastructure The debate around Vitalik Buterin and the Shiba coins-Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Bitstamp is the world’s longest-running cryptocurrency exchange, supporting investors, traders and leading financial institutions since 2011. With a proven track record and dedication to personal customer service with a human touch, Bitstamp’s fast, secure and reliable crypto investing platform is trusted by over four million people worldwide. To learn more, visit www.bitstamp.net.-Join thousands of newsmakers and influencers talking the future of money at Consensus 2021, a live virtual experience from CoinDesk. (Use discount code "BREAKDOWN" to save $25!) -Image credit: John Phillips/Getty Images for TechCrunch and cgdeaw/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
15/05/2112m 35s

BREAKDOWN: Why the DOJ, IRS Investigation Into Binance Could Be Good for Bitcoin

In almost any scenario, the industry faces one less category of FUD on the other side of the investigations.This episode is sponsored by Nexo.io and Bitstamp.Today on the Brief:More chaos from Elon MuskHedge funds moving into DeFi?Tether reserve attestationsOur main discussion looks at recent revelations of investigations by the Department of Justice and the Internal Revenue Service around Binance. NLW breaks down:What we know about who is involvedWhy the sound bite seems worse than the real storyWhy each possible outcome leads the Bitcoin industry to a better place -Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Bitstamp is the world’s longest-running cryptocurrency exchange, supporting investors, traders and leading financial institutions since 2011. With a proven track record and dedication to personal customer service with a human touch, Bitstamp’s fast, secure and reliable crypto investing platform is trusted by over four million people worldwide. To learn more, visit www.bitstamp.net.-Join thousands of newsmakers and influencers talking the future of money at Consensus 2021, a live virtual experience from CoinDesk. (Use discount code "BREAKDOWN" to save $25!) -Image credit: Akio Kon/Bloomberg/Getty ImagesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
14/05/2114m 31s

BREAKDOWN: Et tu, Elon? What’s Really Behind Tesla’s Bitcoin Betrayal

Tesla has stopped accepting bitcoin due to environmental concerns – or so it says.This episode is sponsored by Nexo.io and Bitstamp.Crypto Twitter exploded last night when Elon Musk announced Tesla was backtracking and would no longer be accepting bitcoin as payment for cars. The debate came fast and furious about whether this was genuine environmental concern and, if so, how Elon was just discovering it now. On this episode, NLW looks at other interpretations, including:Elon playing 4D chess with the priceThe simple vagaries of an eccentric billionaire Pressure to remain in ESG portfolios Shifting government narratives  -Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Bitstamp is the world’s longest-running cryptocurrency exchange, supporting investors, traders and leading financial institutions since 2011. With a proven track record and dedication to personal customer service with a human touch, Bitstamp’s fast, secure and reliable crypto investing platform is trusted by over four million people worldwide. To learn more, visit www.bitstamp.net.-Join thousands of newsmakers and influencers talking the future of money at Consensus 2021, a live virtual experience from CoinDesk. (Use discount code "BREAKDOWN" to save $25!) -Image credit: rudall30/iStock/Getty Images Plus, modified by CoinDeskSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
13/05/2114m 34s

BREAKDOWN: 46M Americans Now Own Bitcoin as Inflation Rises to Highest Level in 13 Years

Do rising inflation and rising levels of bitcoin ownership have anything to do with one another?This episode is sponsored by Nexo.ioand Bitstamp.Today on the Brief:SEC throws cold water on bitcoin ETF dreamsMoneyGram brings bitcoin for cash to 12,000 locations (for a hefty fee)Palantir considering adding bitcoin to balance sheetOur main discussion:Inflation has seen its biggest growth month in a very long time. Is it just transitory or reducible to base effects or is something more going on? Meanwhile, a new survey suggests 46 million Americans now own bitcoin. Related? -Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Bitstamp is the world’s longest-running cryptocurrency exchange, supporting investors, traders and leading financial institutions since 2011. With a proven track record and dedication to personal customer service with a human touch, Bitstamp’s fast, secure and reliable crypto investing platform is trusted by over four million people worldwide. To learn more, visit www.bitstamp.net.-Join thousands of newsmakers and influencers talking the future of money at Consensus 2021, a live virtual experience from CoinDesk. (Use discount code "BREAKDOWN" to save $25!) -Image credit: TARIK KIZILKAYA/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
12/05/2111m 50s

BREAKDOWN: Crypto to Replace Dollar as World’s Reserve Currency? Investing Legend Stanley Druckenmiller Thinks So

The argument that the dollar is losing prestige worldwide got a major boost from a legendary investor. This episode is sponsored by Nexo.io and Bitstamp.Last year, hedge fund gurus like Paul Tudor Jones set off the wave of institutional bitcoin buying by cementing the narrative of bitcoin as an inflation hedge. Today, one of those investors - Stanley Druckenmiller - is back with even more dire pronouncements about the likely implication of Federal Reserve policies. The dollar, he says, will lose reserve currency status in the next 15 years. The most likely candidate to replace it? Crypto. -Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Bitstamp is the world’s longest-running cryptocurrency exchange, supporting investors, traders and leading financial institutions since 2011. With a proven track record and dedication to personal customer service with a human touch, Bitstamp’s fast, secure and reliable crypto investing platform is trusted by over four million people worldwide. To learn more, visit www.bitstamp.net.-Join thousands of newsmakers and influencers talking the future of money at Consensus 2021, a live virtual experience from CoinDesk. (Use discount code "BREAKDOWN" to save $25!) -Image credit: Scott Eells/Bloomberg/Getty ImagesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
11/05/2112m 49s

BREAKDOWN: If Prices Keep Going Up, We Might Have to Start Calling It Inflation

Every day sees new reports of prices going up – from commodities to plastic to fruit. Are we ready to use the “I” word? This episode is sponsored by Nexo.io and Bitstamp.Today on the Brief:Elon Musk saves an SNL flop with a dogecoin satellite Growing interest in Ethereum UBS explores offering crypto to wealthy clientsOur main discussion:The Wall Street Journal and Bloomberg are both running headlines about increasing consumer prices. For now, most pieces like these remain a healthy combination of spot data (in other words specific companies raising prices) and anecdotes versus aggregate data. That isn’t stopping a new inflation narrative from forming, however. Listen to find out what it means. -Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Bitstamp is the world’s longest-running cryptocurrency exchange, supporting investors, traders and leading financial institutions since 2011. With a proven track record and dedication to personal customer service with a human touch, Bitstamp’s fast, secure and reliable crypto investing platform is trusted by over four million people worldwide. To learn more, visit www.bitstamp.net.-Join thousands of newsmakers and influencers talking the future of money at Consensus 2021, a live virtual experience from CoinDesk. (Use discount code "BREAKDOWN" to save $25!) -Image credit: Galina Sandalova/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
10/05/2114m 9s

BREAKDOWN: CBDCs Aren't About Money, They're About Power

A China-focused discussion on this week’s “Long Reads Sunday.”This episode is sponsored by Nexo.io, NEAR.org and Genesis Trading.On this week’s “Long Reads Sunday,” NLW reads Sune Sorenson’s “China Is Opting Out of US-Run Financial System.” He also discusses recent pieces by Niall Ferguson and The Economist that point to a growing conversation about CBDCs that is fundamentally about power and the global system.-Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-NEAR.org - Infrastructure for innovation. NEAR is an open-source platform that accelerates the development of decentralized applications overcoming high fees and slow speeds with its fast, scalable, low-cost, and climate-neutral blockchain protocol. One transaction on NEAR consumes about 1300x less carbon than a similar transaction on other chains.-Click here to read the Genesis Q1 2021 Digital Asset Market report. To learn more about Genesis, click here. To learn more about Genesis Prime, their prime brokerage offering, click here. The information provided in this communication does not constitute investment advice. Please see this link for important disclosures.-Join thousands of newsmakers and influencers talking the future of money at Consensus 2021, a live virtual experience from CoinDesk. (Use discount code "BREAKDOWN" to save $25!) -Image credit: Anson_iStock/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
09/05/2113m 35s

BREAKDOWN: 'My 401(k) is now my 401(k9)' – What Happens to Doge After Elon Hosts ‘SNL’?

While everyone was paying attention to Dog Money, bitcoin was quietly accumulating institutional news.This episode is sponsored by Nexo.io, NEAR.org and Genesis Trading.On this edition of “The Breakdown’s Weekly Recap,” NLW looks at:Why ETH should have had most of the attentionThe camps forming around dogecoin and why it’s likely to dump after “Saturday Night Live”A slew of massive institutional bitcoin news that flew under the radar"Remy: Dogecoin Rap" (Dog Money), ReasonTVhttps://www.youtube.com/watch?v=cbI31x3FpS0-Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-NEAR.org - Infrastructure for innovation. NEAR is an open-source platform that accelerates the development of decentralized applications overcoming high fees and slow speeds with its fast, scalable, low-cost, and climate-neutral blockchain protocol. One transaction on NEAR consumes about 1300x less carbon than a similar transaction on other chains.-Click here to read the Genesis Q1 2021 Digital Asset Market report. To learn more about Genesis, click here. To learn more about Genesis Prime, their prime brokerage offering, click here. The information provided in this communication does not constitute investment advice. Please see this link for important disclosures.-Join thousands of newsmakers and influencers talking the future of money at Consensus 2021, a live virtual experience from CoinDesk. (Use discount code "BREAKDOWN" to save $25!) -Image credit: Popular meme based on Doge meme, Elon Musk and The Lion KingSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
08/05/2113m 29s

BREAKDOWN: The Balkanization of Bitcoin – The Next Attack on BTC Is About Mining Provenance

From Iran miner control to “OFAC compliant blocks,” a new attack vector has emerged.This episode is sponsored by Nexo.io, NEAR.org and Genesis Trading.Today on the Brief:Square puts up monster Q1 bitcoin numbersFirst crypto comments from new SEC Chair Gary Gensler3 new institutional bitcoin developments Our main discussion: As bitcoin becomes more mainstream, the attempts from the powers that be to control it will become more subtle. This week, NLW argues we got a preview of a new approach to trying to exert that control. He argues there is a new attempt to Balkanize Bitcoin and looks at:Iran banning crypto that wasn’t mined in the countryMarathon mining an “OFAC-compliant” blockKevin O’Leary insisting on only owning bitcoin not mined in China -Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-NEAR.org - Infrastructure for innovation. NEAR is an open-source platform that accelerates the development of decentralized applications overcoming high fees and slow speeds with its fast, scalable, low-cost, and climate-neutral blockchain protocol. One transaction on NEAR consumes about 1300x less carbon than a similar transaction on other chains.-Click here to read the Genesis Q1 2021 Digital Asset Market report. To learn more about Genesis, click here. To learn more about Genesis Prime, their prime brokerage offering, click here. The information provided in this communication does not constitute investment advice. Please see this link for important disclosures.-Join thousands of newsmakers and influencers talking the future of money at Consensus 2021, a live virtual experience from CoinDesk. (Use discount code "BREAKDOWN" to save $25!) -Image credit: Allexxandar/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
07/05/2118m 30s

BREAKDOWN: Are Banks Getting Nervous About Competition From DeFi?

A new research paper from ING suggests that, at the very least, they’re paying more attention.This episode is sponsored by Nexo.io, NEAR.org and Genesis Trading.Today on the Brief:MercadoLibre has added bitcoin to its balance sheetGalaxy Digital buys BitGo Debates around the new, improved, real economy Our main discussion:While the last year has seen a massive amount of growth in decentralized finance, it has been mostly driven by enfranchised insiders and builders. In this bull market, that is starting to change. In today’s episode, NLW looks at a recent paper by the $1.1 trillion bank ING around where DeFi fits in the context of traditional finance.-Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-NEAR.org - Infrastructure for innovation. NEAR is an open-source platform that accelerates the development of decentralized applications overcoming high fees and slow speeds with its fast, scalable, low-cost, and climate-neutral blockchain protocol. One transaction on NEAR consumes about 1300x less carbon than a similar transaction on other chains.-Click here to read the Genesis Q1 2021 Digital Asset Market report. To learn more about Genesis, click here. To learn more about Genesis Prime, their prime brokerage offering, click here. The information provided in this communication does not constitute investment advice. Please see this link for important disclosures.-Join thousands of newsmakers and influencers talking the future of money at Consensus 2021, a live virtual experience from CoinDesk. (Use discount code "BREAKDOWN" to save $25!) -Image credit: SchulteProductions/iStock/Getty Images Plus, modified by CoinDeskSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
06/05/2117m 3s

BREAKDOWN: NYDIG CEO Explains How Latest Partnership Could Bring Bitcoin to 300M US Bank Accounts

The latest in NYDIG’s year of institutional partnerships has perhaps the broadest potential for financial inclusion in Bitcoin yet.This episode is sponsored by Nexo.io, NEAR.org and Genesis Trading.NLW is joined today by Robby Gutmann, CEO of NYDIG. NYDIG is quickly emerging as one of the leading companies helping onboard institutions to bitcoin. This year, it received investment from and announced partners with companies like MassMutual, New York Life, Liberty Mutual, Morgan Stanley and more. In this episode, Gutmann discusses why the firm’s latest partnership with bank software provider FIS could represent their biggest opportunity for bringing bitcoin to the masses yet. -Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-NEAR.org - Infrastructure for innovation. NEAR is an open-source platform that accelerates the development of decentralized applications overcoming high fees and slow speeds with its fast, scalable, low-cost, and climate-neutral blockchain protocol. One transaction on NEAR consumes about 1300x less carbon than a similar transaction on other chains.-Click here to read the Genesis Q1 2021 Digital Asset Market report. To learn more about Genesis, click here. To learn more about Genesis Prime, their prime brokerage offering, click here. The information provided in this communication does not constitute investment advice. Please see this link for important disclosures.-Join thousands of newsmakers and influencers talking the future of money at Consensus 2021, a live virtual experience from CoinDesk. (Use discount code "BREAKDOWN" to save $25!) -Image credit: Nuthawut Somsuk/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
05/05/2129m 25s

BREAKDOWN: Is Dogecoin at $0.58 a Triumph or an FU to the Crypto Industry?

As doge soars 45% in a day, the question of how to interpret its success is more pertinent than ever.This episode is sponsored by Nexo.io, NEAR.org and Genesis Trading.NLW asked his Twitter followers about what the success of dogecoin meant to the crypto industry. He got an extremely diverse set of takes. Some see it as a triumph of crypto’s uncontrollability. Some see it as a triumph of the underlying bitcoin tech working on a forked chain that hasn’t had much maintenance in years. Others see it as a damning indictment of the market as a whole; something that shows what a joke the whole industry is. Which is it? Can it be both?-Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-NEAR.org - Infrastructure for innovation. NEAR is an open-source platform that accelerates the development of decentralized applications overcoming high fees and slow speeds with its fast, scalable, low-cost, and climate-neutral blockchain protocol. One transaction on NEAR consumes about 1300x less carbon than a similar transaction on other chains.-Click here to read the Genesis Q1 2021 Digital Asset Market report. To learn more about Genesis, click here. To learn more about Genesis Prime, their prime brokerage offering, click here. The information provided in this communication does not constitute investment advice. Please see this link for important disclosures.-Join thousands of newsmakers and influencers talking the future of money at Consensus 2021, a live virtual experience from CoinDesk. (Use discount code "BREAKDOWN" to save $25!) -Image credit: popular crypto meme, modified by CoinDeskSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
04/05/2114m 22s

BREAKDOWN: Why Bitcoin Is Making Some Legendary Investors Emotional

From Charlie Munger’s “civilization” comments to the Taproot activation, everything you need to know to start your week.This episode is sponsored by Nexo.io, NEAR.org and Genesis Trading.Today on The Breakdown, NLW looks at:Charlie Munger’s and Bill Maher’s weekend comments about bitcoin and why we’re likely to see a lot more of this type of critique the more the bull market heats upThe beginning of Taproot’s ‘Speedy Trial’ The Digital Dollar Foundation beginning private U.S. CBDC testsSource reporting PayPal is exploring launching a stablecoin-Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-NEAR.org - Infrastructure for innovation. NEAR is an open-source platform that accelerates the development of decentralized applications overcoming high fees and slow speeds with its fast, scalable, low-cost, and climate-neutral blockchain protocol. One transaction on NEAR consumes about 1300x less carbon than a similar transaction on other chains.-Click here to read the Genesis Q1 2021 Digital Asset Market report. To learn more about Genesis, click here. To learn more about Genesis Prime, their prime brokerage offering, click here. The information provided in this communication does not constitute investment advice. Please see this link for important disclosures.-Join thousands of newsmakers and influencers talking the future of money at Consensus 2021, a live virtual experience from CoinDesk. (Use discount code "BREAKDOWN" to save $25!) -Image credit: Daniel Acker/Bloomberg/Getty ImagesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
03/05/2114m 7s

BREAKDOWN: Wall Street’s Bitcoin Isn’t Your Bitcoin

A reading of Ben Hunt’s latest essay “In Praise of Bitcoin.”This episode is sponsored by Nexo.io and NEAR.org.Ben Hunt is the author of the wildly popular and always provocative “Epsilon Theory.” In his recent essay “In Praise of Bitcoin,” he calls on bitcoiners to rise up and recognize that the “bitcoin” being adopted by Wall Street is an abstraction that comes with unacceptable compromises. -Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-NEAR.org - Infrastructure for innovation. NEAR is an open-source platform that accelerates the development of decentralized applications overcoming high fees and slow speeds with its fast, scalable, low-cost, and climate-neutral blockchain protocol. One transaction on NEAR consumes about 1300x less carbon than a similar transaction on other chains.-Join thousands of newsmakers and influencers talking the future of money at Consensus 2021, a live virtual experience from CoinDesk. (Use discount code "BREAKDOWN" to save $25!) -Image credit: rudall30/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
02/05/2124m 10s

BREAKDOWN: Welcome Back, Flippening Narrative

After a good performance from ETH this week, partisans are calling for a flippening yet again.This episode is sponsored by Nexo.io and NEAR.org.On this edition of “The Breakdown’s Weekly Recap,” NLW explores:Why JPM and Tesla drove the bitcoin storyWhy Ethereans are hot on the call for a “flippening” againWhy CBDCs are low key one of the most important stories of 2021 -Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-NEAR.org - Infrastructure for innovation. NEAR is an open-source platform that accelerates the development of decentralized applications overcoming high fees and slow speeds with its fast, scalable, low-cost, and climate-neutral blockchain protocol. One transaction on NEAR consumes about 1300x less carbon than a similar transaction on other chains.-Join thousands of newsmakers and influencers talking the future of money at Consensus 2021, a live virtual experience from CoinDesk. (Use discount code "BREAKDOWN" to save $25!) -Image credit: Chayapoll Tummakorn/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
01/05/2110m 29s

BREAKDOWN: Crypto's War of the Roses – The 7 Factions of the 2021 Bull Market

From BTC to ETH to NFTs to DOGE, it’s a battle for attention out there.This episode is sponsored by Nexo.io and NEAR.org.On today’s episode, NLW gives a comprehensive view of the battleground for attention and resources that makes up this 2021 bull market, including:BitcoinEthereum and DeFiEthereum alternatives Ponzi coinsStablecoins and CBDCsNFTsDogeWhere do the next fights and fault lines lay? Listen and find out.-Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-NEAR.org - Infrastructure for innovation. NEAR is an open-source platform that accelerates the development of decentralized applications overcoming high fees and slow speeds with its fast, scalable, low-cost, and climate-neutral blockchain protocol. One transaction on NEAR consumes about 1300x less carbon than a similar transaction on other chains.-Join thousands of newsmakers and influencers talking the future of money at Consensus 2021, a live virtual experience from CoinDesk. (Use discount code "BREAKDOWN" to save $25!) -Image credit: SerhiiBobyk/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
30/04/2123m 51s

BREAKDOWN: What an Increasingly Booming Economy Means for Bitcoin

What macro role does bitcoin play as GDP and consumer confidence grow?This episode is sponsored by Nexo.io and NEAR.org.For the past year, bitcoin’s narrative has been deeply tied to the larger macro narrative of looming inflation. As the economy starts to boom, many continue to point to the spectre of inflation as a bullish force for bitcoin.In today’s episode, NLW explores growing confidence in the markets and what it means for bitcoin. In particular, he looks at what it would mean if consumer inflation didn’t show up. Would bitcoin be cast aside, or are there properties and uses that make it relevant even outside its role as a monetary hedge?-Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-NEAR.org - Infrastructure for innovation. NEAR is an open-source platform that accelerates the development of decentralized applications overcoming high fees and slow speeds with its fast, scalable, low-cost, and climate-neutral blockchain protocol. One transaction on NEAR consumes about 1300x less carbon than a similar transaction on other chains.-Join thousands of newsmakers and influencers talking the future of money at Consensus 2021, a live virtual experience from CoinDesk. (Use discount code "BREAKDOWN" to save $25!) -Image credit: Olivier Le Moal/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
29/04/2119m 44s

BREAKDOWN: Visa's CEO on Crypto – "This Is a Space We Are Leaning Into in a Very, Very Big Way"

Visa’s earnings call makes it clear just how invested the company is in the crypto space. This episode is sponsored by Nexo.io and NEAR.org.Today on the Brief:Elon pumps Doge againDetailing Biden’s $1.8T American Families Plan Turkey, Iran, SECOur main discussion looks at comments this week from Visa CEO Al Kelly on the company’s relationship with crypto, analyzing the five areas of opportunity Visa has identified:Helping customers buy BTC and cryptoEnabling digital cash outs to fiatEnabling TradFi to offer crypto to customersSettlement via stablecoins Central bank digital currencies -Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-NEAR.org - Infrastructure for innovation. NEAR is an open-source platform that accelerates the development of decentralized applications overcoming high fees and slow speeds with its fast, scalable, low-cost, and climate-neutral blockchain protocol. One transaction on NEAR consumes about 1300x less carbon than a similar transaction on other chains.-Join thousands of newsmakers and influencers talking the future of money at Consensus 2021, a live virtual experience from CoinDesk. (Use discount code "BREAKDOWN" to save $25!) -Image credit: Simon Dawson/Bloomberg/Getty ImagesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
28/04/2114m 56s

BREAKDOWN: Tesla's Bitcoin Selling Shows How BTC Is More Than Digital Gold

According to Elon himself, it was all about demonstrating bitcoin’s liquidity. This episode is sponsored by Nexo.io and NEAR.org.Yesterday Bitcoin Twitter reacted in horror upon discovering that Tesla had sold 10% of its bitcoin. Elon has paper hands! Institutions will abandon us! The horror and scorn ran far and wide. On today’s episode, NLW argues that:The sales proved to Tesla that bitcoin has deep liquidityThat the combination of store of value plus upside plus liquidity makes bitcoin uniquely valuable as a treasury asset -Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-NEAR.org - Infrastructure for innovation. NEAR is an open-source platform that accelerates the development of decentralized applications overcoming high fees and slow speeds with its fast, scalable, low-cost, and climate-neutral blockchain protocol. One transaction on NEAR consumes about 1300x less carbon than a similar transaction on other chains.-Join thousands of newsmakers and influencers talking the future of money at Consensus 2021, a live virtual experience from CoinDesk. (Use discount code "BREAKDOWN" to save $25!) -Image credit: Britta Pedersen-Pool/Getty ImagesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
27/04/2116m 20s

BREAKDOWN: JPMorgan's Bitcoin Journey – From 'Worse Than Tulips' to 'Not My Cup of Tea' to New Product

Sources say JPMorgan’s new actively managed bitcoin product will be available this summer.This episode is sponsored by Nexo.io and NEAR.org.Today on the Brief:Sports and crypto come togetherWTF is going on in Turkey?Wyoming DAO law Our main discussion: After years of CEO Jamie Dimon ragging on bitcoin, JPMorgan is reportedly set to offer a new actively managed bitcoin product. In this episode, NLW looks back at Dimon’s comments on BTC and how things have changed over time. -Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-NEAR.org - Infrastructure for innovation. NEAR is an open-source platform that accelerates the development of decentralized applications overcoming high fees and slow speeds with its fast, scalable, low-cost, and climate-neutral blockchain protocol. One transaction on NEAR consumes about 1300x less carbon than a similar transaction on other chains.-Join thousands of newsmakers and influencers talking the future of money at Consensus 2021, a live virtual experience from CoinDesk. (Use discount code "BREAKDOWN" to save $25!) -Image credit: Jin Lee/Bloomberg/Getty ImagesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
26/04/2112m 43s

BREAKDOWN: Bitcoin and the New Non-Governmental Monetary Reality

A reading of Nik Bhatia’s latest essay for CoinDesk. This episode is sponsored by Nexo.io.For this week’s “Long Reads Sunday,” NLW reads Nik Bhatia’s latest piece: “Asset Managers, Owning Bitcoin Is Now Your Fiduciary Duty.” He also provides more thoughts on the notion of bitcoin as a non-sovereign money and what that might mean in terms of global balances of power.-Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Join thousands of newsmakers and influencers talking the future of money at Consensus 2021, a live virtual experience from CoinDesk. (Use discount code "BREAKDOWN" to save $25!) -Image credit: Kachura Oleg/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
25/04/2110m 37s

BREAKDOWN: 2017 PTSD and the Dip That Ate Alt Season

The story of the week was the Tale of Two Dips. This episode is sponsored by Nexo.io.On this edition of “The Weekly Recap,” NLW looks at the twin dips that shaped the week. He argues that one upshot is the dips may have taken the wind out of the sales of some very 2017-esque froth that threatened the entire industry.-Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Join thousands of newsmakers and influencers talking the future of money at Consensus 2021, a live virtual experience from CoinDesk. (Use discount code "BREAKDOWN" to save $25!) -Image credit: Nuthawut Somsuk/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
24/04/2110m 28s

BREAKDOWN: What Biden's Tax Hike Has to Do With Money Printing and Inflation

Some say this amounts to a way to profit off assets inflated by monetary policy.This episode is sponsored by Nexo.io.Today on the Brief:Coinbase Pro to list USDTA new Bitcoin Mayor in TennesseeETH and BTC ETF updatesOur main discussion looks at President Biden’s proposed increase of the capital gains tax rate. NLW breaks down everything bitcoiners are saying about it, with a particular focus on what it has to do with monetary policy. -Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Join thousands of newsmakers and influencers talking the future of money at Consensus 2021, a live virtual experience from CoinDesk. (Use discount code "BREAKDOWN" to save $25!) -Image credit: Doug Mills-Pool/Getty ImagesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
23/04/2113m 48s

BREAKDOWN: This Earth Day, Let's Reclaim the Bitcoin Energy Debate

Bitcoin mining isn’t destroying the planet, it’s creating a solution to key problems of renewable energy.This episode is sponsored by Nexo.io.Today on the Brief:Crypto M&A heats upIs ETH deflationary now?Cathie Wood is the Michael Saylor of Coinbase stockOur main discussion:Square’s Bitcoin Clean Energy Initiative and ARK Investments have teamed up to release a memo about how bitcoin addresses key issues in the renewable energy space. Not only do renewables make sense as an energy source for mining, but bitcoin mining as “the energy buyer of last resort” could address key issues of intermittency and grid congestion. -Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Join thousands of newsmakers and influencers talking the future of money at Consensus 2021, a live virtual experience from CoinDesk. (Use discount code "BREAKDOWN" to save $25!) -Image credit: Iaremenko/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
22/04/2112m 51s

BREAKDOWN: ICO 2.0 – How Will Big Bitcoin-Buying Institutions React to Inevitable Crypto Market Froth?

A whiff of 2017 is in the air as TikTok investors and pump-and-dump private groups increase. This episode is sponsored by Nexo.io.The years 2017 and 2018 were some of the frothiest, wildest times in crypto market history. Their fallout also dragged the industry down for years, leaving an unmistakable stench of scam for many. Thus far in this market cycle, much of those excesses have been avoided. Attention and energy has largely been focused on the rise of institutional bitcoin players, or other areas like decentralized finance (DeFi) and non-fungible tokens (NFT) that, while some of the prices might be shocking, at least are full of good faith actors. On today’s “The Breakdown,” NLW looks at some of the more concerning recent trends that have the stench of 2017 all over them. Can we avoid another cycle where “alt season” games drag down everything else? Part of the answer to that may lie in how bitcoin’s new institutional buyers react to the froth. -Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Join thousands of newsmakers and influencers talking the future of money at Consensus 2021, a live virtual experience from CoinDesk. (Use discount code "BREAKDOWN" to save $25!) -Image credit: welcomia/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
21/04/2114m 4s

BREAKDOWN: Governments Banning Bitcoin? Not So Fast as Former Regulators Brooks and Giancarlo Join Crypto Companies

Despite the FUD, the prospects for bitcoin and crypto in a broader regulatory context have never looked brighter. This episode is sponsored by Nexo.io.As this cycle heats up, “governments will ban bitcoin” is one of the top areas of fear, uncertainty and doubt. On this episode, NLW breaks down why that FUD just doesn’t hold much weight right now, looking at:Why the examples of India, Turkey, Nigeria and China are not as bad as what people have posited Why the early indications suggest the Biden administration is more open to crypto than what the Trump administration ended up being Why it matters that two crypto companies today announced major board members and executives from the regulator world Specifically, NLW looks at Brian Brooks and Chris Giancarlo’s trajectory in both the regulatory sphere and crypto and what their new private sector engagements might mean. -Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Join thousands of newsmakers and influencers talking the future of money at Consensus 2021, a live virtual experience from CoinDesk. (Use discount code "BREAKDOWN" to save $25!) -Image credit: Jason Alden/Bloomberg/Getty ImagesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
20/04/2116m 9s

BREAKDOWN: No, Bitcoin's Flash Crash Wasn't Caused by Turkey or Money Laundering or China or Any Other FUD

Instead, the weekend’s rapid price action had its roots in over-leveraged traders.This episode is sponsored by Nexo.io.In 20 minutes on Saturday night, bitcoin’s price fell by more than 12%. Crypto Twitter raced to explain it as the byproduct of hashrate crashes after Chinese miners went offline, a suspicious report about the U.S. Treasury Department going after crypto money launders, and/or an upcoming ban in Turkey on using cryptos as currency. NLW argues that all of those explanations are hogwash and that the crash had much more to do with leverage in the system than any fancy narrative.-Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Join thousands of newsmakers and influencers talking the future of money at Consensus 2021, a live virtual experience from CoinDesk. (Use discount code "BREAKDOWN" to save $25!) -Image credit: Kayocci/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
19/04/2119m 47s

BREAKDOWN: A Point-by-Point Rebuttal of the Most Recent Bitcoin Environmental FUD

A reading of Nic Carter’s latest painstaking response to the New York Times’ recent hit job.This episode is sponsored by Nexo.io.On this week’s “Long Reads Sunday,” NLW reads Nic Carter’s “On Bitcoin, the Gray Lady Embraces Climate Lysenkoism,” a rebuttal of the New York Times’ recent piece on bitcoin energy consumption he says is riddled with false data and debunked sources. -Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Join thousands of newsmakers and influencers talking the future of money at Consensus 2021, a live virtual experience from CoinDesk. (Use discount code "BREAKDOWN" to save $25!) -Image credit: Jirsak/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
18/04/2130m 24s

BREAKDOWN: Here Are All the Institutions That Bought Bitcoin While You Weren't Paying Attention

A look at the news that flew under the radar this week.This episode is sponsored by Nexo.io.On this edition of the “Weekly Recap,” NLW looks at three key themes:The continued institutionalization of bitcoin (and, increasingly, ethereum as well) Warning signs of market mania in DOGE and NFT pricesGlobal intrigue around bitcoin and central bank digital currencies-Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Join thousands of newsmakers and influencers talking the future of money at Consensus 2021, a live virtual experience from CoinDesk. (Use discount code "BREAKDOWN" to save $25!) -Image credit: D-Keine/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
17/04/2111m 47s

BREAKDOWN: Dogecoin - The Emperor of All S**tcoins and the Master of Memes

After a 9,392% run-up over the last three months, is there something about DOGE beyond the meme?This episode is sponsored by Nexo.io.Dogecoin is on a tear. And it’s causing many mainstream media outlets to call “bubble.” On this episode, NLW breaks down DOGE as:Valueless memecoinInternet culture incarnateDada-esque protest to a broken system Much wow. -Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Join thousands of newsmakers and influencers talking the future of money at Consensus 2021, a live virtual experience from CoinDesk. (Use discount code "BREAKDOWN" to save $25!) -Image credit: Mary Harrsch/Flickr, modified by CoinDeskSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
16/04/2116m 50s

BREAKDOWN: Why the Biden Administration Is Increasingly Concerned With China’s Digital Currency Efforts

A shifting global balance of power is causing a rethink in the U.S.’ relationship with cryptocurrency. This episode is sponsored by Nexo.io.On today’s “The Breakdown,” NLW looks at an underreported story from earlier this week. There are increasingly loud whispers that officials across several agencies, including Treasury, National Security and Defense, are growing concerned with China’s digital currency efforts. NLW looks at:Why CBDCs are about power, not digital efficiency Why Facebook’s libra was the starting gunChina’s possible objectives Why the U.S. tone on a digital dollar is changing How Gary Gensler as SEC Chair could portend a broader attitude shift for the U.S. vis a vis digital currencies -Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Join thousands of newsmakers and influencers talking the future of money at Consensus 2021, a live virtual experience from CoinDesk. (Use discount code "BREAKDOWN" to save $25!) -Image credit: Andrew Harrer/Bloomberg/Getty ImagesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
15/04/2114m 2s

BREAKDOWN: The Definitive Guide to Coinbase Going Public

From the company’s history to business model to controversy, it’s everything you need to know.This episode is sponsored by Nexo.io.On the day of Coinbase’s historic direct listing on NASDAQ, NLW answers your most important questions about the company and its place in the industry. How did Coinbase become successful?What is the crypto public's perception of Coinbase?What is Coinbase's business model and how has that model been shifting?What is Coinbase's role in the recent institutional shift in bitcoin?Does Coinbase have any controversy in its past?Why did Coinbase choose a direct listing?What are people expecting, price wise?Why did BTC and ETH hit all-time highs in advance of the listing?How might Coinbase impact the crypto markets? -Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Join thousands of newsmakers and influencers talking the future of money at Consensus 2021, a live virtual experience from CoinDesk. (Use discount code "BREAKDOWN" to save $25!) -Image credit: Michael Nagle/Bloomberg via Getty ImagesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
14/04/2122m 52s

BREAKDOWN: The Real Story of Inflation Right Now

New CPI numbers show growing inflation, but is that the whole story? This episode is sponsored by Nexo.io.There is perhaps no question more debated in macroeconomics than what sort of inflation we’re likely to see in the coming years. Many are convinced that the combination of a growing money supply, expansionary monetary policy, pent-up demand, reshoring of manufacturing and more are pointing us to a secular inflation era. Others say the forces of deflation and disinflation, like technology and demography, are too strong. In today’s episode, NLW looks at not only the latest Consumer Price Index numbers released today, but also recent Producer Price Index surveys, wage growth and more to try to put together a more complex, nuanced picture of the likely inflation scenarios going forward. -Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Join thousands of newsmakers and influencers talking the future of money at Consensus 2021, a live virtual experience from CoinDesk. (Use discount code "BREAKDOWN" to save $25!) -Image credit: artoleshko/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
13/04/2115m 38s

BREAKDOWN: Coinbase Going Public Is the Bitcoin Bull Market's First Big Test

This inflection point moment could have major implications for where markets head nextThis episode is sponsored by Nexo.io.Coinbase is set to go public via direct listing on Wednesday.In today’s episode, NLW breaks down why this is the current bull market’s first big test, looking at:Mainstream narratives Institutional liquidity Retail participation Spillover effects The direction in which we head next What’s clear is that this bull run does not equal 2017 and will be shaped by a largely different set of forces. Byzantine General’s overview thread: https://twitter.com/ByzGeneral/status/1381095621017354240-Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Join thousands of newsmakers and influencers talking the future of money at Consensus 2021, a live virtual experience from CoinDesk. (Use discount code "BREAKDOWN" to save $25!) Image credit: Steve Jennings/Getty Images for TechCrunch and Overearth/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
12/04/2123m 11s

BREAKDOWN: How Bitcoin Can Help Break Cycles of Poverty

A reading of an essay from University of Wyoming philosophy professor Bradley Rettler.This episode is sponsored by Nexo.io and this week’s special product launch, Exodus.This week’s edition of “Long Reads Sunday” features NLW reading Bradley Rettler’s “The Rich Get Richer, the Poor Get Bitcoin.” It is an argument that, far from being just a speculative tool for the already wealthy, bitcoin represents a disruptive force that can combat wealth inequality. -Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Exodus empowers people to control their wealth through a safe and reliable non-custodial crypto wallet, placing the ownership of digital assets back into the user’s hands. Your keys, your crypto. Download Exodus today and learn more at exodus.com.-Image credit: Overearth/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
11/04/2111m 43s

BREAKDOWN: So, Is This a Bitcoin Supercycle or What?

Some say “top signal,” others say “Supercycle.” Who is right? This episode is sponsored by Nexo.io and this week’s special product launch, Exodus.On this week’s “Weekly Recap,” NLW digs into the theory of the bitcoin supercycle. Are we in the same sort of four-year, halving-driven, boom-bust cycle that has characterized bitcoin so far, or are the new institutional participants breaking us out of that in a fundamental way?-Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Exodus empowers people to control their wealth through a safe and reliable non-custodial crypto wallet, placing the ownership of digital assets back into the user’s hands. Your keys, your crypto. Download Exodus today and learn more at exodus.com.-Image credit: ankmsn/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
10/04/219m 40s

BREAKDOWN: Liberty Mutual and State Street Are the Latest Institutions to Join the Bitcoin Party

Institutional participation in Bitcoin shows no signs of slowing down. This episode is sponsored by Nexo.io and this week’s special product launch, Exodus.Today on the Brief:Crypto Climate AccordRobinhood crypto trading The decentralization of venture capitalOur main discussion:This week was absolutely chock-full of institutions getting into the bitcoin space, yet barely anyone noticed. From Liberty Mutual and Starr Insurance investing in NYDIG to a massive real estate company moving treasury into bitcoin and accepting it for rent, the institutional infiltration of bitcoin shows no signs of stopping. -Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Exodus empowers people to control their wealth through a safe and reliable non-custodial crypto wallet, placing the ownership of digital assets back into the user’s hands. Your keys, your crypto. Download Exodus today and learn more at exodus.com.-Image credit: TG23/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
09/04/2113m 1s

BREAKDOWN: Is Bitcoin a Chinese Financial Weapon? Peter Thiel Ignites a Geopolitical Debate

Recent comments from the PayPal founder, early Facebook investor and renegade libertarian political donor ignite a discussion about the battle around the world’s reserve currency.This episode is sponsored by Nexo.io and this week’s special product launch, Exodus.Peter Thiel is nothing if not good at igniting controversy. For the last 24 hours or so, Bitcoin Twitter (and really, FinTwit and TechTwit and Politics Twitter as well) have been hotly debating his assertion in recent remarks that bitcoin had become a “Chinese financial weapon.”In today’s episode, NLW breaks down:The debate around Thiel’s comments Why bitcoin is more likely a threat to Chinese aspirations around the digital yuan’s future status as a global currency than the U.S. dollarWhy digital dollars like tether and USDC might make this whole debate moot from the get-go-Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Exodus empowers people to control their wealth through a safe and reliable non-custodial crypto wallet, placing the ownership of digital assets back into the user’s hands. Your keys, your crypto. Download Exodus today and learn more at exodus.com.-Image credit: John Lamparski/Getty Images EntertainmentSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
08/04/2120m 48s

BREAKDOWN: 'Rising Bitcoin Adoption Tide' – The Best of Bloomberg's Latest Bullish Bitcoin Report

A new Bloomberg report argues bitcoin is replacing gold more rapidly than expected.This episode is sponsored by Nexo.io and this week’s special product launch, Exodus.Today on the Brief:Coinbase’s monster Q1 numbers150 million evaporate from the global middle classJamie Dimon’s shareholder letter comments on cryptoOur main discussion: Bloomberg’s latest crypto outlook is out. In this episode, NLW looks at seven aspects of the report:Bitcoin as digital reserve asset in a low-yield worldPrice support at $50,000Price possibilities of $400,000 in 2021Gold replacement happening more quickly than anticipatedGrowth in publicly traded companies with crypto exposure Exchange outflowsThe supremacy of USD digital currencies -Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Exodus empowers people to control their wealth through a safe and reliable non-custodial crypto wallet, placing the ownership of digital assets back into the user’s hands. Your keys, your crypto. Download Exodus today and learn more at exodus.com.-Image credit: Vasil Dimitrov/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
07/04/2115m 25s

BREAKDOWN: From Dinosaur Altcoins to the Kimchi Premium, 13 Numbers That Tell the Story of Markets Right Now

A look at the most illuminating statistics and metrics across bitcoin, crypto and global markets.This episode is sponsored by Nexo.io and this week’s special product launch, Exodus.On today’s episode, NLW provides a whistle stop tour of some of the most interesting and illuminating numbers from crypto and traditional markets, including:The pop in Jurassic Park altcoinsArchegos falloutUS vaccine distributionOutflows from TurkeySPAC performance before and after mergers Decline in price and volume of NFTsCoinbase valuationStablecoin transaction volume And more! -Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Exodus empowers people to control their wealth through a safe and reliable non-custodial crypto wallet, placing the ownership of digital assets back into the user’s hands. Your keys, your crypto. Download Exodus today and learn more at exodus.com.-Image credit: Olga Trofimova/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
06/04/2117m 41s

BREAKDOWN: How Will the Coinbase IPO Affect Bitcoin's Price?

Will the seminal event drive new people to the crypto markets or suck liquidity away from crypto assets? This episode is sponsored by Nexo.io and this week’s special product launch, Exodus.Today on the Brief:The 88th anniversary of Executive Order 6102Former SEC Jay Clayton on bitcoin regulations GBTC intends to become an ETFOur main discussion:NLW breaks down the potential implications of the Coinbase IPO. He looks at the bullish arguments of mainstream presence, the potential to send people down a bitcoin rabbit hole and the provisioning of easy on-ramps versus the argument that it will give people a chance to get crypto industry exposure without actually holding bitcoin or other crypto assets. -Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Exodus empowers people to control their wealth through a safe and reliable non-custodial crypto wallet, placing the ownership of digital assets back into the user’s hands. Your keys, your crypto. Download Exodus today and learn more at exodus.com.-Image credit: Matt Winkelmeyer/Getty Images EntertainmentSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
05/04/2116m 16s

BREAKDOWN: The Future of Bitcoin and Crypto Is in Renegades and Malcontents

A reading of Brady Dale’s “Don’t Follow the Suits, Follow the Weirdos.”This episode is sponsored by Nexo.io.On this week’s “Long Reads Sunday,” NLW reads CoinDesk journalist Brady Dale’s “Don’t Follow the Suits, Follow the Weirdos.” NLW argues this topic is even more important in the context of bitcoin institutionalization. -Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Image credit: Cemile Bingol/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
04/04/218m 55s

BREAKDOWN: For Bitcoin and Crypto, a Week of Mainstreaming Moments

From NFTs on “Saturday Night Live” to Goldman Sachs reversing course on bitcoin, it was a week of widening audiences.This episode is sponsored by Nexo.io.On this edition of “The Breakdown” Weekly Recap, NLW looks at a set of mainstream moments including:“SNL” doing a song about NFTsVisa accepting USDC on Ethereum as a native settlement currencyPayPal opening crypto checkout to 29 million merchants Goldman Sachs opening bitcoin investment programs Chipotle’s “bitcoin and burritos” promotion -Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Image credit: Axelle/Bauer-Griffin/FilmMagic/Getty ImagesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
03/04/218m 57s

BREAKDOWN: An Interview With Cathie Wood on Bitcoin, Tesla and Innovation Investing

This episode is a replay of NLW’s conversation with Cathie Wood from October 2020. In it, they discuss:Why she had conviction in Tesla before the market caught up Why her fund offered the first bitcoin investment opportunities to Wall StreetWhy it doesn’t hire traditional Wall Street analysts Why it gives away all research for freeWhy it shares the trades made in a completely open-source wayARK’s recent Bitcoin Investment Thesis white paperWhat the prospects are for innovation in 2021 Find our guest online:Twitter: @CathieDWoodWeb: ark-invest.comImage credit: Alex Flynn/Bloomberg/Getty ImagesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
02/04/211h 18m

BREAKDOWN: Corruption, Leverage and Cheap Money – Archegos and the Fastest Loss of Wealth in History

A TL;DR on how Archegos went from betting $50B or more to having nothing overnight. This episode is sponsored by Nexo.io.The financial world has been rocked by the Archegos scandal. A family office managing at least $10 billion and betting with $50 billion-$80 billion on leverage that was completely undone, literally overnight. In this episode, NLW breaks down:Bill Hwang’s origins in Julian Robertson’s Tiger ManagementHwang’s conviction for insider tradingHow Hwang leveraged his fund’s performance to get off prime broker blacklistsWhy Goldman Sachs, Morgan Stanley and others decided to margin call Archegos last weekWhat the whole affair says about markets today-Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Image credit:  Emile Wamsteker/Bloomberg/Getty ImagesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
01/04/2117m 32s

BREAKDOWN: Have Fun Staying Rich – Goldman to Offer Bitcoin to Wealthy Clients, Completely Reversing Course

Less than a year after it proclaimed cryptocurrencies are “not an asset class,” Goldman is launching a set of bitcoin and crypto products.This episode is sponsored by Nexo.io and Casper.As the old saying goes: “First they ignore you, then they mock you, then they fight you, then you win.” Ten months ago, Goldman Sachs declared that “cryptocurrencies including bitcoin are not an asset class.” Today, CNBC broke the news Goldman is planning to release a full suite of bitcoin and crypto investment products. On this episode, NLW breaks down the larger macro context that got us from then to now and explains why, if you’re a wealthy client of Goldman, you might have some big questions to ask. -Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Launching in late-March, Casper is the future-proof blockchain protocol that finally address the blockchain trilemma. Learn more at Casper.Network.-Image credit: Scott Eells/Bloomberg/Getty ImagesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
31/03/2113m 16s

BREAKDOWN: PayPal Opens Crypto Payments for Millions of Merchants

The old canard that you can’t buy coffee with bitcoin is less true than ever as PayPal rolls out crypto checkout for 29 million merchants.This episode is sponsored by Nexo.io and Casper.Today on the Brief:BTC micro futures coming to CMEMichael Jordan is now an NFT investorBitcoin doesn’t care about Treasury yieldsOur main discussion: PayPal has begun rolling out its crypto checkout tools to millions of merchants. NLW breaks down:Why payments for day-to-day items have been historically deprioritized for Bitcoin and Ethereum Why the PayPal checkout tools are unlikely to shift the primary use case from store of value style functions to medium of exchangeWhy the liquidity and utility PayPal crypto checkout creates still adds significant value to these crypto assets-Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Launching in late-March, Casper is the future-proof blockchain protocol that finally address the blockchain trilemma. Learn more at Casper.Network.-Image credit: Weedezign/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
30/03/2115m 13s

BREAKDOWN: Visa Just Supercharged Stablecoin Legitimacy

Visa officially enables USDC as a native currency and means of settlement. This episode is sponsored by Nexo.io and Casper.Today’s episode of “The Breakdown” is an extended brief with five different topics:NFTs make it to “SNL”“Green” bitcoin miningSquare’s CFO thinks all companies should hold bitcoin in their treasuriesCrypto M&A doubles in 2020Visa announces USDC as settlement currency Ultimately, NLW argues that while non-fungible tokens are showing up in pop culture, the Visa deal reinforces the notion that this crypto bull market is being driven by large-scale institutional engagement.-Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Launching in late-March, Casper is the future-proof blockchain protocol that finally address the blockchain trilemma. Learn more at Casper.Network.-Image credit: Ihor Reshetniak/iStock/Getty Images Plus, modified by CoinDeskSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
29/03/2114m 9s

BREAKDOWN: Can Crypto Create Cultural Revolutions?

A reading of David Hoffman’s recent essay “The Digital Cultural Revolution.”This episode is sponsored by Nexo.io and Casper, and this week’s special product launch, Exodus.On this edition of “Long Reads Sunday,” NLW reads David Hoffman’s essay “The Digital Cultural Revolution” from Bankless. The essay argues that culture, more than economics, will be the most important long-term beneficiary of the rise of crypto. -Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Launching in late-March, Casper is the future-proof blockchain protocol that finally address the blockchain trilemma. Learn more at Casper.Network.-Exodus empowers people to control their wealth through a safe and reliable non-custodial crypto wallet, placing the ownership of digital assets back into the user’s hands. Your keys, your crypto. Download Exodus today and learn more at exodus.com.-Image credit: sankai/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
28/03/2129m 21s

BREAKDOWN: Soros Breaks Into Bitcoin

Recent investments and a TV appearance this week start to show how the legendary investor’s crypto strategy is shaping up.This episode is sponsored by Nexo.io and Casper, and this week’s special product launch, Exodus.On this week’s Weekly Recap, NLW:Highlights the four most important happenings around regulation and central bank digital currencies in the U.S.Updates the macro inflation narrative for a “new normal” eraDigs into what we’ve learned recently about George Soros’ bitcoin and crypto strategy-Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Launching in late-March, Casper is the future-proof blockchain protocol that finally address the blockchain trilemma. Learn more at Casper.Network.-Exodus empowers people to control their wealth through a safe and reliable non-custodial crypto wallet, placing the ownership of digital assets back into the user’s hands. Your keys, your crypto. Download Exodus today and learn more at exodus.com.-Image credit: Bryan Bedder/Getty Images EntertainmentSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
27/03/2113m 53s

BREAKDOWN: Worried About Bitcoin's Price Action? Here's Why You Shouldn't Be

Although the bitcoin price has been wavering since March 13, there are historical, technical and foundational reasons to be optimistic. This episode is sponsored by Nexo.io and Casper, and this week’s special product launch, Exodus.Today on “The Breakdown,” NLW digs into bitcoin and crypto markets. He argues that despite two weeks of sideways-down price action, there are a set of reasons to be optimistic:Historically bad March months versus historically good AprilsRetracements and pullbacks in 2017 Analysis around options expiry in 2021The continuation and expansion of the macro inflation narrativeInstitutions applying for bitcoin ETFsCoins leaving exchanges-Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Launching in late-March, Casper is the future-proof blockchain protocol that finally address the blockchain trilemma. Learn more at Casper.Network.-Exodus empowers people to control their wealth through a safe and reliable non-custodial crypto wallet, placing the ownership of digital assets back into the user’s hands. Your keys, your crypto. Download Exodus today and learn more at exodus.com.-Image credit: Nuthawut Somsuk/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
26/03/2112m 42s

BREAKDOWN: The Fed Chair and the Treasury Secretary Come Out Against Privacy-Respecting Anonymous Digital Dollar

The fight to protect privacy in the central bank digital currency era just got more intense. This episode is sponsored by Nexo.io and Casper, and this week’s special product launch, Exodus.Today on the Brief:Fidelity files a bitcoin ETF applicationStimmies to ChinaThe situation in the SuezOur main discussion:In response to a question from Illinois Democrat Bill Foster during a House hearing earlier this week, Federal Reserve Chair Jerome Powell went on the record as being against an anonymous digital dollar. Treasury Secretary Janet Yellen reinforced that stance, saying anonymity made the U.S. government’s anti-money laundering goals extremely difficult to achieve. In today’s episode, NLW breaks down why bitcoiners should be willing to get involved in the digital dollar privacy fight. -Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Launching in late-March, Casper is the future-proof blockchain protocol that finally address the blockchain trilemma. Learn more at Casper.Network.-Exodus empowers people to control their wealth through a safe and reliable non-custodial crypto wallet, placing the ownership of digital assets back into the user’s hands. Your keys, your crypto. Download Exodus today and learn more at exodus.com.-Image credit: bsauter/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
25/03/2115m 24s

BREAKDOWN: Bears Fuming as Elon Opens Tesla Purchases With Bitcoin

Tesla is allowing U.S. customers to buy vehicles with bitcoin, and it is not changing the crypto back to fiat.This episode is sponsored by Nexo.io and Casper, and this week’s special product launch, Exodus.Today on the Brief:Robinhood IPO incomingCompeting bitcoin price predictions Yellen and Powell’s latest testimony on economic growthOur main discussion:Elon Musk announced this morning Tesla’s program for buying its cars with bitcoin: Says the company is running Bitcoin network nodesSays Tesla won’t convert back to fiat but will hold bitcoinExpanding the program internationally coming soonNLW breaks down the hater response from the Tesla and Bitcoin sides and argues that much more significant are the other CEOs – like that of buzzy bed startup Eight Sleep – who are following suit. -Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Launching in late-March, Casper is the future-proof blockchain protocol that finally address the blockchain trilemma. Learn more at Casper.Network.-Exodus empowers people to control their wealth through a safe and reliable non-custodial crypto wallet, placing the ownership of digital assets back into the user’s hands. Your keys, your crypto. Download Exodus today and learn more at exodus.com.-Image credit: Hannibal Hanschke-Pool/Getty Images Entertainment See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
24/03/2114m 48s

BREAKDOWN: Stablecoins in the Hot Seat – Powell Calls Bitcoin a Substitute for Gold While Fed Says Digital Dollar Prototype Coming in July

An action-packed couple days in U.S. crypto regulatory commentary. This episode is sponsored by Nexo.io and Casper, and this week’s special product launch, Exodus.Three major moments over the last couple days help provide insight into the future of the U.S. government’s relationship with bitcoin, stablecoins and digital currencies. The first was Federal Reserve Chair Jerome Powell’s comments on digital assets and a central bank digital currency, saying work on a U.S. “digital dollar” was not being motivated by bitcoin or any other crypto, and that bitcoin is just a gold substitute. The second was news out of the Boston Fed that it would be showing off two digital dollar prototypes in conjunction with MIT by July. The third was new draft Financial Action Task Force guidance around cryptocurrencies that CoinDesk warns are significantly more onerous than previous guidance. -Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Launching in late-March, Casper is the future-proof blockchain protocol that finally address the blockchain trilemma. Learn more at Casper.Network.-Exodus empowers people to control their wealth through a safe and reliable non-custodial crypto wallet, placing the ownership of digital assets back into the user’s hands. Your keys, your crypto. Download Exodus today and learn more at exodus.com.-Image credit: Al Drago-Pool/Getty Images NewsSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
23/03/2119m 8s

BREAKDOWN: When Currencies Fail – ‘Bitcoin’ Google Searches in Turkey Rise 400% as Lira Crashes

The Turkish lira plummets as much as 17% after the surprising firing of Turkey’s central bank governor. This episode is sponsored by Nexo.io and Casper, and this week’s special product launch, Exodus.Today on the Brief:Nigeria central bank reversing stance on crypto ban? “The least responsible fiscal policy of the last 40 years”Scaramucci’s firm files fifth bitcoin ETF applicationOur main discussion: the crash of the Turkish lira. In this episode, NLW looks at the last few years of Turkish monetary policy, inflation and currency crisis, focusing on:The seesaw shifts between inflation and crisis on the one hand and interest rate hikes on the otherThe sour legacy of intervention in the central bank by President Erdogan Why the Turkish lira had actually increased 3.07% against the dollar in 2021 before this Finally, he examines why some think the only tool left in the Turkish central bank’s tool kit to fight inflation is currency controls, and why this is driving people to explore bitcoin as an escape valve. -Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Launching in late-March, Casper is the future-proof blockchain protocol that finally address the blockchain trilemma. Learn more at Casper.Network.-Exodus empowers people to control their wealth through a safe and reliable non-custodial crypto wallet, placing the ownership of digital assets back into the user’s hands. Your keys, your crypto. Download Exodus today and learn more at exodus.com.-Image credit: Fyletto/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
22/03/2114m 3s

BREAKDOWN: Hal Finney’s ‘Bitcoin and Me’

A reading of a touching BitcoinTalk post by the late Hal Finney, from exactly eight years ago.This episode is sponsored by Nexo.io and Casper, and this week’s special product launch, NEM.On this edition of “Long Reads Sunday,” NLW reads a BitcoinTalk forum from exactly eight years ago - Hal Finney’s “Bitcoin and Me.” The piece is about the origins of Bitcoin, and more broadly, life’s treasures. -Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Launching in late-March, Casper is the future-proof blockchain protocol that finally address the blockchain trilemma. Learn more at Casper.Network.-Symbol from NEM is the connector between blockchain and business. It brings enterprise-grade security and programmability with cutting edge technical features for projects at the heart of the new economy -- join us by visiting symbolplatform.com or nem.io.-Image credit: Max S. GerberSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
21/03/218m 31s

BREAKDOWN: Why Kentucky Is Trying to Become a Crypto Mining Hub

Two bills with benefits for crypto miners are waiting to be signed by the governor of the Bluegrass State.This episode is sponsored by Nexo.io and Casper, and this week’s special product launch, NEM.On this week’s Breakdown Weekly Recap, NLW looks at:The beginning of the next institutional bitcoin waveNFT bubble signalsCentral bank policy changesKentucky’s new pro-crypto legislation-Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Launching in late-March, Casper is the future-proof blockchain protocol that finally address the blockchain trilemma. Learn more at Casper.Network.-Symbol from NEM is the connector between blockchain and business. It brings enterprise-grade security and programmability with cutting edge technical features for projects at the heart of the new economy -- join us by visiting symbolplatform.com or nem.io.-Image credit: Oleksii Liskonih/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
20/03/219m 44s

BREAKDOWN: How CBDCs Give ‘Absolute Control’ to Central Banks

Jerome Powell discussed CBDCs at a speech this week, saying they need to co-exist with cash.This episode is sponsored by Nexo.io and Casper, and this week’s special product launch, NEM.Today on the Brief:China-U.S. talksU.S. spending coming backA virtual casino hiring IRL people Our main discussion looks at central bank digital currencies and why they’re so appealing for bankers, especially compared to cash. NLW discusses:Recent comments from Fed Chair Jerome Powell on why any CBDC would be complement cashComments from Agustin Carstens about how much oversight CBDCs provideWhy privacy advocates are nervous about the coming CBDC era -Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Launching in late-March, Casper is the future-proof blockchain protocol that finally address the blockchain trilemma. Learn more at Casper.Network.-Symbol from NEM is the connector between blockchain and business. It brings enterprise-grade security and programmability with cutting edge technical features for projects at the heart of the new economy -- join us by visiting symbolplatform.com or nem.io.-Image credit: Stephen Jaffe/IMF/Getty ImagesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
19/03/2115m 53s

BREAKDOWN: Why a Norwegian Billionaire Is Betting on Bitcoin's Positive Environmental Potential

Aker’s new Seetee division is out to prove bitcoin can be a force for positive environmental change. This episode is sponsored by Nexo.io and Casper, and this week’s special product launch, NEM.Today on the BriefFollowup on the FOMC meeting$3.1M for an anonymous teamCould we finally see a bitcoin ETF? Our main discussion: Aker ASA’s new Seetee bitcoin division. NLW explores:Why a Norwegian billionaire is buying into bitcoinWhy the move is part of a larger institutional shift Why Seetee founder Kjell Rokke believes bitcoin can spur positive environmental change-Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Launching in late-March, Casper is the future-proof blockchain protocol that finally address the blockchain trilemma. Learn more at Casper.Network.-Symbol from NEM is the connector between blockchain and business. It brings enterprise-grade security and programmability with cutting edge technical features for projects at the heart of the new economy -- join us by visiting symbolplatform.com or nem.io.-Image credit: izhairguns/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
18/03/2115m 21s

BREAKDOWN: Morgan Stanley Is First Big Bank Offering Bitcoin to Wealthy Clients

Three funds led by Galaxy Digital, FS Investments and NYDIG will give bank customers access to the leading digital asset.This episode is sponsored by Nexo.io and Casper, and this week’s special product launch, NEM.Today on the Brief:What markets want from the Federal Reserve’s FOMC meetingeToro’s $10B SPACThe latest on Coinbase’s IPOOur main discussion: Morgan Stanley set to become the first big bank to offer wealthy clients access to bitcoin. In this episode, NLW breaks down this breaking news, including:Restrictions on the fund in terms of who can buy and how much they can spend Background of the firms partnering with Morgan StanleyWhy the direct bitcoin exposure is a sea change for institutional investors offering bitcoin products -Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Launching in late-March, Casper is the future-proof blockchain protocol that finally address the blockchain trilemma. Learn more at Casper.Network.-Symbol from NEM is the connector between blockchain and business. It brings enterprise-grade security and programmability with cutting edge technical features for projects at the heart of the new economy -- join us by visiting symbolplatform.com or nem.io.-Image credit: Daniel Acker/Bloomberg/Getty ImagesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
17/03/2112m 6s

BREAKDOWN: Ray Dalio on Dumb Dollar Debt, Bitcoin Controls and the Coming Assault on Capitalism

In his latest essay, the Bridgewater chief argues the U.S. could impose capital controls and ban non-sovereign monies. This episode is sponsored by Nexo.io and Casper, and this week’s special product launch, NEM.Today on The Breakdown, NLW reviews Ray Dalio’s latest essay, looking at:The six reasons why it doesn’t make sense to hold bonds anymoreWhy holding bonds is especially troubling in the concept of growing government money printingWhy sovereign bond holdings are shifting from the U.S. to China Why proposed wealth taxes are likely just the beginning of a more aggressive period of financial regulation Why we could see the government try to ban gold and bitcoin as their grip on reserve currency status weakens-Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Launching in mid-March, Casper is the future-proof blockchain protocol that finally address the blockchain trilemma. Learn more at Casper.Network.-Symbol from NEM is the connector between blockchain and business. It brings enterprise-grade security and programmability with cutting edge technical features for projects at the heart of the new economy -- join us by visiting symbolplatform.com or nem.io.-Image credit: Jason Alden/Bloomberg/Getty ImagesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
16/03/2120m 13s

BREAKDOWN: Why Americans Could Spend Up to $40B in Direct Stimulus Payments on Bitcoin

A new survey from Mizuho Securities sees bitcoin as the most popular stimulus investment avenue. This episode is sponsored by Nexo.io and Casper, and this week’s special product launch, NEM.Today on the Brief:Bitcoin’s $60,000 weekend price brings out the angry bearsIndia’s mixed signals on a crypto banTesla’s new Master of CoinOur main discussion: A new $1.9 trillion stimulus package is on the books, of which about $400 billion is going to Americans in the form of direct payments. In this episode, NLW looks at what percentage of that might find its way into investments like bitcoin, specifically looking at a just-released survey from Mizuho with some juicy results. -Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Launching in mid-March, Casper is the future-proof blockchain protocol that finally address the blockchain trilemma. Learn more at Casper.Network.-Symbol from NEM is the connector between blockchain and business. It brings enterprise-grade security and programmability with cutting edge technical features for projects at the heart of the new economy -- join us by visiting symbolplatform.com or nem.io.-Image credit: Rabbitti/iStock/Getty Images Plus, modified by CoinDeskSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
15/03/2115m 8s

BREAKDOWN: The Case for $1M Bitcoin

A reading of Bitcoin author Nik Bhatia’s latest essay.This episode is sponsored by Nexo.io and Casper.On this week’s “Long Reads Sunday,” NLW reads Layered Money author Nik Bhatia’s recent essay for CoinDesk, “Why $1 Million Bitcoin Is Coming.”-Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Launching in mid-March, Casper is the future-proof blockchain protocol that finally address the blockchain trilemma. Learn more at Casper.Network.-Image credit: AlexSava/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
14/03/2111m 23s

BREAKDOWN: Is This the Beginning of the Next Institutional Bitcoin Wave?

Morgan Stanley, New York Life, JPMorgan and Goldman Sachs are just some of the traditional finance institutions in the crypto news this week.This episode is sponsored by Nexo.io and Casper.On The Breakdown’s “Weekly Recap,” NLW looks at news of institutional involvement in the bitcoin and digital asset space including:New York Life investing in and joining the board of directors of NYDIGJPMorgan introducing a “cryptocurrency exposure basket” debt productGoldman Sachs’ COO saying demand is rising -Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Launching in mid-March, Casper is the future-proof blockchain protocol that finally address the blockchain trilemma. Learn more at Casper.Network.-Image credit: metamorworks/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
13/03/219m 41s

BREAKDOWN: What the $1.9T Stimulus Means for Bitcoin

The U.S. has now spent more on COVID-19 than on World War II. Here’s what it might mean for bitcoin. This episode is sponsored by Nexo.io and Casper.COVID-19 sent the money printer into overdrive. With the newly signed $1.9 trillion stimulus bill, the total spent on pandemic relief in the U.S. exceeds $6 trillion, more than WWII’s inflation-adjusted $4.1 trillion. In this episode, NLW explores what the possible implications of this spending are for bitcoin, including:Whether we’re likely to see if some of the $400 billion allocated for direct checks to citizens find its way into bitcoinWhether the $1.9 trillion is just the start of a larger set of Biden Administration initiatives that will redefine our relationship with the balance sheetNLW also does a quick regulatory roundup looking at:The CFTC investigating Binance U.S. Rep. Warren Davidson reintroducing the “Token Taxonomy Act”The introduction of the “Eliminate Barriers to Innovation Act”-Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Launching in mid-March, Casper is the future-proof blockchain protocol that finally address the blockchain trilemma. Learn more at Casper.Network.-Image credit: LPETTET/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
12/03/2113m 57s

BREAKDOWN: A Beeple Artwork Just Sold for $69M – NFT Bubble or Everything Bubble?

The record-setting NFT auction is generating significant discussion about art, crypto and the state of the macro economy.This episode is sponsored by Nexo.io and Casper.Everyone paying attention knew that Beeple’s Christie’s auction was likely going to set a new high-water mark for non-fungible token (NFT) sales. Fewer would have guessed that it would lead to the third-highest auction price for a living artist in history.On this episode, NLW breaks down:How interest in NFTs is at an inflection pointWhy it’s not just digital art but sports collectibles as wellHow the traditional collectibles markets are also explodingWhy people think growing NFT prices might be a sign of an everything bubble-Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Launching in mid-March, Casper is the future-proof blockchain protocol that finally address the blockchain trilemma. Learn more at Casper.Network.-Image credit: VPanteon/iStock/Getty Images Plus, modified by CoinDeskSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
11/03/2115m 48s

BREAKDOWN: Why the CEO of New York Life Just Joined the Board of One of Bitcoin's Fastest-Growing Companies

The news comes just days after NYDIG’s announcement of a $200 million financing round including New York Life, Mass Mutual and George Soros as investors. This episode is sponsored by Nexo.io and Casper.Today on The Breakdown, NLW catches up on the news from the past few days, looking at:NFTs heating up – and capturing some negative attention in the processInfrastructure acquisitions and M&A heat upEliminate Barriers to Innovation Act 2021Coinbase’s $100B valuationNYDIG’s $200M round and new board member -Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Launching in mid-March, Casper is the future-proof blockchain protocol that finally address the blockchain trilemma. Learn more at Casper.Network.-Image credit: AaronP/Bauer-Griffin/GC Image/Getty ImagesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
10/03/2117m 3s

BREAKDOWN: The World’s Most Important Geopolitical Fault Lines, Feat. Tracy Shuchart

From the Middle East to the South China Sea, a look at the most volatile parts of the world and what they mean for the macroeconomic landscape.This episode is sponsored by Nexo.io and Casper.On today’s episode, NLW is joined by investor and FinTwit star Tracy Shuchart. On the show, they discuss:The world’s most important geopolitical fault lines, from the Middle East to ChinaThe early indicators from the Biden administration around foreign policy Jerome Powell’s recent statements on CBDCs The changing global energy landscape -Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Launching in mid-March, Casper is the future-proof blockchain protocol that finally address the blockchain trilemma. Learn more at Casper.Network.-Image credit: LewisTsePuiLung/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
09/03/2147m 29s

BREAKDOWN: No, the Digital Dollar Won't Kill Bitcoin

Why CBDCs are growing as a focus for governments, and what impact they’ll really have on bitcoin.This episode is sponsored by Nexo.io and Casper.On today’s episode, NLW provides a 101-style overview of central bank digital currencies, looking at:Why governments are interested in CBDCsWhy Facebook’s libra announcement accelerated CBDC development the world overWhy China’s CBDC efforts are driven by an attempt to shift power in the U.S. dollar-led global economy How the U.S.’ rhetoric around central bank digital currencies is changingWhy CBDCs are likely to be good for bitcoin-Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Launching in mid-March, Casper is the future-proof blockchain protocol that finally address the blockchain trilemma. Learn more at Casper.Network.-Image credit: Overearth/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
08/03/2114m 41s

BREAKDOWN: What Governments Should Do in the Coming Global Monetary Competition

A reading of Balaji Srinivasan’s recent essay “How India Legalizes Crypto.”This episode is sponsored by Nexo.io and Casper.On today’s episode, NLW reads Balaji Srinivasan’s essay “How India Legalizes Crypto.” NLW argues that while India’s proposed crypto ban is nominally the focus, the implications are much bigger and have to do with a forthcoming global monetary competition that will inevitably include private, network cryptos including bitcoin and more. -Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Launching in mid-March, Casper is the future-proof blockchain protocol that finally address the blockchain trilemma. Learn more at Casper.Network.-Image credit: happyphoton/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
07/03/2130m 23s

BREAKDOWN: More Than 1/5th of Surveyed Goldman Sachs Clients Think Bitcoin Will Reach $100,000+ in 12 Months

A survey of pensions, sovereign wealth funds, hedge funds and more affirms growing institutional interest in crypto.This episode is sponsored by Nexo.io and Casper.On this edition of The Breakdown’s weekly recap, NLW looks at:Whether bitcoin is being caught up in the larger macro volatilityThe latest NFT shenanigans including a burned IRL BanksyThe latest on institutional adoption including a positive survey from Goldman Sachs-Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Launching in mid-March, Casper is the future-proof blockchain protocol that finally address the blockchain trilemma. Learn more at Casper.Network.-Image credit: Daniel Acker/Bloomberg/GettySee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
06/03/2110m 54s

BREAKDOWN: Macro 101 – Bonds, the Fed and Money Printing, Feat. Delphi Digital’s Kevin Kelly

A macro expert gives a rollicking 101-style overview of some of the most important market concepts for bitcoiners.This episode is sponsored by Nexo.io and Casper.What are Treasury bonds? Why does it matter how they’re doing? Does the Federal Reserve actually print money? What’s the difference between quantitative easing and yield curve control? Bitcoin undeniably operates in a macro environment. In this 101-style episode, guest Kevin Kelly, cofounder of Delphi Digital, gives listeners a whistle-stop tour of a set of key concepts to understanding bitcoin macro, including bond markets, the Federal Reserve and money printing.-Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Launching in mid-March, Casper is the future-proof blockchain protocol that finally address the blockchain trilemma. Learn more at Casper.Network.-Image credit: NinaMalyna/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
05/03/2151m 45s

BREAKDOWN: Bitcoin Isn't Acting Like Stocks, Stocks Are Acting Like Bitcoin

As the financial world debates rising Treasury yields and waits for Fed Chair Powell’s comments, has bitcoin just become another risk asset? This episode is sponsored by Nexo.io and Casper.Over the last year there has been a growing correlation between the stock market and bitcoin. Some of this is attributed to the new traditional participants in bitcoin. Some of it is attributed to bitcoin acting less like an uncorrelated hedge and more like just another risk asset. In this episode, NLW argues that the notion bitcoin has started acting more like stocks is, in fact, completely backwards. Instead, in a negative, real interest rate environment, stocks have started to act more like bitcoin - as a store of value.-Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Launching in mid-March, Casper is the future-proof blockchain protocol that finally address the blockchain trilemma. Learn more at Casper.Network.-Image credit: Popular stock and bitcoin memesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
04/03/2115m 45s

BREAKDOWN: Are You Really Surprised Elizabeth Warren Doesn't Get Bitcoin?

Gary Gensler’s confirmation hearing and Warren’s appearance on cable financial news give us a preview of crypto’s place in a new political landscape.This episode is sponsored by Nexo.io and Casper.Today on the Brief:PayPal acquiring Curv for $500 million?Traditional markets are very confusedPortnoy launches Buzz exchange-traded fundOur main discussion: NLW looks at the emerging political landscape for crypto in the U.S. Specifically, he examines:Gary Gensler’s hearing before the Senate Banking Committee on his nomination to head the SECElizabeth Warren’s comments (or non-comments) about bitcoin on cable TV -Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Launching in mid-March, Casper is the future-proof blockchain protocol that finally address the blockchain trilemma. Learn more at Casper.Network.-Image credit: Greg Nash/Getty Images NewsSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
03/03/2114m 2s

BREAKDOWN: Are NFTs Just This Cycle’s ICOs?

As musicians, celebrities and social media stars pile into the space, should we be getting concerned?This episode is sponsored by Nexo.io and Casper.On today’s episode, NLW looks at the explosion of interest in NFTs. Big money, big names, big problems? He asks whether non-fungible tokens are this cycle’s initial coin offerings by looking at five different comparison points:Inflated pricesOverpromisesCelebrity hypeWheat-and-ChaffCompetition with bitcoinSo are NFTs just a new version of the ol’ ICO? Listen to find out.-Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Launching in mid-March, Casper is the future-proof blockchain protocol that finally address the blockchain trilemma. Learn more at Casper.Network.-Image credit: Beeple/Nifty GatewaySee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
02/03/2118m 18s

BREAKDOWN: Why Citi Thinks Bitcoin Is at a Tipping Point

A 108-page report from the bank argues that in the future, bitcoin could become the preferred currency for international trade. This episode is sponsored by Nexo.io and Casper.Today on the Brief:Michael Saylor bought the dipChina bans bitcoin mining in Inner MongoliaWallStreetBets moving off Reddit? Our main discussion: Citi’s analysis of bitcoin. February saw a non-stop barrage of bullish bitcoin news with regard to institutional uptake. March is off to a similar start with a massive research report arguing that:Bitcoin’s evolution over the last seven years has been spectacular CBDCs are likely to become more importantIf CBDCs do become more important, it could spur more corporations to use bitcoin as a global settlement currency NLW argues that the report itself may be the beginning of a new, important part of the institutional bitcoin narrative. -Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.-Launching in mid-March, Casper is the future-proof blockchain protocol that finally address the blockchain trilemma. Learn more at Casper.Network.-Image credit: Daniel Acker/Bloomberg/Getty ImagesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
01/03/2114m 36s

BREAKDOWN: Governments Couldn’t Ban Bitcoin Even if They Wanted

A reading of Human Rights Foundation CSO Alex Gladstein’s latest essay.This episode is sponsored by Nexo.io.Today on “Long Reads Sunday,” NLW reads “Can Governments Stop Bitcoin?” by Alex Gladstein, published recently by Quillette. Gladstein argues that both technical and legal attacks on bitcoin are extremely difficult to execute, even for large governments. -Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.-Image credit: Ja_inter/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
28/02/2120m 35s

BREAKDOWN: Are Beeple's $6.6M Sale and Christie's Auction a Turning Point for NFTs?

NFTs had a major week, with Christie’s Auctioning off its first-ever digital art exclusive and a different NFT selling for $6.6M. This episode is sponsored by Nexo.io.This week on the Weekly Recap, NLW discusses:The price dipTether’s settlement with the NYAGCoinbase’s S1 FilingsBeeple’s record-setting NFT sales and what it means for the NFT space as a wholeThis week on The Breakdown:Monday | The First Canadian Bitcoin ETF Is Absolutely SoaringTuesday | The Most Conservative Regulator in America Just Settled Its Case Against Tether: Can We Move On Now?Wednesday | If You Sell Your Bitcoin, Michael Saylor and Jack Dorsey WILL Buy ItThursday | Bitcoin Investing Is ESG InvestingFriday | Why Cathie Wood Thinks Bitcoin Could Replace Bonds-Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.-Image credit: Chuck Patch/Flickr CC, modified by CoinDesk, creativecommons.org/licenses/by-nc/2.0See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
27/02/2110m 59s

BREAKDOWN: Why Cathie Wood Thinks Bitcoin Could Replace Bonds

The ARK Investment founder discussed bitcoin’s opportunity to act as a replacement store of value at the Bloomberg Crypto Summit.This episode is sponsored by Nexo.io.Today on the Brief:SEC investigating Elon’s DOGE tweets?US income growth has second biggest monthly gain everRobinhood growth suggests crypto mainstreamingMain discussion: Cathie Wood thinks Bitcoin could replace bonds. In this episode, NLW lays out:How Cathie Wood made a name by being early in Tesla, Bitcoin and innovationHow ARK’s funds have grown Why bonds aren’t performing anymore and why bitcoin could fill the gap in investor’s portfolios-Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.-Image credit: Alex Flynn/Bloomberg/Getty ImagesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
26/02/2113m 19s

BREAKDOWN: Bitcoin Investing Is ESG Investing

As more investors focus on the environmental, social and governance impacts of their decisions, an argument for why bitcoin is ESG-friendly. This episode is sponsored by Nexo.io.In today's episode, NLW looks at how bitcoin fits with the growing trend of ESG (Environmental, Social, Governance) investing. In it, he: Argues that ESG investors should disregard the false idea that bitcoin is only used for crimeProvides three frameworks for understanding bitcoin’s energy consumption Demonstrates how marginalized communities are using bitcoin as a tool of economic empowermentArgues that bitcoin provides a new, networked alternative to corporate governance -Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.-Image credit: robertsrob/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
25/02/2124m 17s

BREAKDOWN: If You Sell Your Bitcoin, Michael Saylor and Jack Dorsey WILL Buy It

Square added $170M in bitcoin to its reserves last quarter, while MicroStrategy announced a fresh $1B bitcoin buy today. This episode is sponsored by Nexo.io.Today on the Brief:Fed Chair Jerome Powell comments on markets and digital currencyCathie Wood’s ARK faces toughest stretch since last September India’s latest anti-crypto sentiment Our main discussion: More news on corporate bitcoin buying. NLW discusses:Square’s Q4 and overall 2020 bitcoin performance in terms of revenue and profitSquare’s latest bitcoin purchase of ~3,300 BTC for $170 million MicroStrategy’s latest >$1B bitcoin purchase, bringing the total to more than 90,000 BTCWhy these announcements are losing their power to move markets -Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.-Image credit: Canan turan/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
24/02/2112m 29s

BREAKDOWN: The Most Conservative Regulator in America Just Settled Its Case Against Tether – Can We Move On Now?

The case showed Tether and Bitfinex’s track record of misleading statements and dubious practices, but gave no credence to claims that tethers were printed to manipulate markets. This episode is sponsored by Nexo.io.On today’s episode, NLW breaks down the final settlement of the New York Attorney General’s case against Tether. He argues that the outcome is extremely positive for the industry, discussing:Why Tether risk became a major source of FUD in 2021How conspiracy theories overtook legitimate concernsThe history of the NYAG’s case against TetherSpecific findings of the NYAG’s case around two times that Tether was not backed 1-to-1 by U.S. dollars held in Tether bank accounts Why there was never any accusation of Tether printing USDT out of thin air to manipulate markets The specifics of the settlementWhy this conclusion clears risk from institutional investors -Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.-Image credit: Bubanga/iStock/Getty Images Plus, modified by CoinDeskSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
23/02/2116m 17s

BREAKDOWN: The First Canadian Bitcoin ETF Is Absolutely Soaring

The Purpose Bitcoin ETF BTCC could be Canada’s biggest ETF in a matter of weeks.This episode is sponsored by Nexo.io.Today on the Brief:Welcome back to the price rollercoasterThe latest from China’s digital yuan trialA 3-week sprint to a stimulus packageOur main discussion: Canada’s first bitcoin ETFNLW discusses:ETF 101Pros and cons of a bitcoin ETFHistory of bitcoin ETF proposals Early performance for Canada’s BTCC ETF Implications for a U.S. BTC ETF in 2021-Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.-Image credit: syahrir maulana/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
22/02/2118m 17s

BREAKDOWN: Should the US Federal Reserve Buy Bitcoin?

A reading of Alex Treece’s recent CoinDesk op-ed, “Why the US Needs Bitcoin.”This episode is sponsored by Nexo.io.On this week’s “Long Reads Sunday,” NLW reads Alex Treece’s recent essay “Why the US Needs Bitcoin.” The piece argues the U.S. will inevitably adopt bitcoin as a treasury reserve asset, but by doing so sooner rather than later it can enjoy geopolitical advantages. NLW follows with a discussion of his assessment of the prospects of a digital dollar backed by digital gold. -Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.-Image credit: marchmeena29/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
21/02/2114m 33s

BREAKDOWN: 'I Am Not a Cat' – The GameStop Hearing Shows How Desperately a New Financial System Is Needed

What we learned from the congressional hearing featuring representatives from Reddit, Melvin Capital, Citadel Securities and Robinhood.This episode is sponsored by Nexo.io.This week, instead of our normal Weekly Recap, NLW digs into Thursday’s congressional hearings around GameStop, Robinhood and WallStreetBets. He explores: Why there was a significant focus on T+2 settlement Bipartisan agreement on retail investors getting screwed, but different diagnoses on how to addressWhy Keith Gill, aka Roaring Kitty, aka DeepF***ingValue is a new American folk heroUltimately, NLW argues that any congressional action needs to make it easier for retail investors to be full participants in the market, rather than further limiting their options.This week on The Breakdown:Monday | The Mainstream Media Narrative Shifts as Deutsche Bank and Morgan Stanley Come to BitcoinTuesday | Is $50,000 BTC the Beginning of a Bitcoin Supercycle?Wednesday | Coinbase Trades at a $77B Valuation as BTC Heads Towards a $1T Market CapThursday | How 2,000 Years of Monetary History Led Us to Bitcoin, Feat. Nik BhatiaFriday | Bitcoin Is Now a Trillion-Dollar Asset: Where Do We Go From Here?-Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.-Image credit: lucushoule/r/WallStreetBetsSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
20/02/2122m 40s

BREAKDOWN: Bitcoin Is Now a Trillion-Dollar Asset – Where Do We Go From Here?

The milestone isn’t just psychological, and potentially opens entire new groups of investors who couldn’t participate previously.This episode is sponsored by Nexo.io.Bitcoin is officially a $1 trillion asset. As the price surged over $54,000, the total market cap of bitcoin reached the new all-time high. In this episode, NLW explores the significance of the milestone, arguing:There has been a slate of good news, from BlackRock rumblings to Canadian ETFs that have been driving recent price actionThere are a variety of institutions that couldn’t allocate to the space before because it was too small but which are now in playIn the wake of the milestone, we’re likely to see more research house FUDWe’re also likely to see a number of major bitcoin positions announced in the days to come-Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.-Image credit: uzenzen/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
19/02/2111m 0s

BREAKDOWN: How 2,000 Years of Monetary History Led Us to Bitcoin, Feat. Nik Bhatia

A conversation with the author of the new book “Layered Money: From Gold and Dollars to Bitcoin and Central Bank Digital Currencies.”This episode is sponsored by Nexo.io.Nik Bhatia is a financial researcher, a CFA charterholder and an Adjunct Professor of Finance and Business Economics at the University of Southern California Marshall School of Business. Nik’s new book “Layered Money: From Gold and Dollars to Bitcoin and Central Bank Digital Currencies” puts the rise of bitcoin into a larger historical context - from the first coinage of Rome to the introduction of credit in Renaissance Florence to the beginnings of interest rate trading in Antwerp to the genesis of the central bank system that shapes money today. In this conversation, he and NLW do a rapid tour across those two millennia of economic history, ultimately helping reframe what it means when we say that bitcoin is the new “digital gold.”Find our guest on Twitter: @timevalueofbtc-Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.-Image credit: ADragan/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
18/02/2155m 20s

BREAKDOWN: Coinbase Trades at a $77B Valuation as BTC Heads Towards a $1T Market Cap

An overview of key news, from a new DeFi Index fund for accredited investors to bitcoin shrugging off growing Treasury yields.This episode is sponsored by Nexo.io.Today’s episode of "The Breakdown" analyzes a number of topics across the bitcoin and crypto industry, including:Bitcoin reclaims $50,000 and looks towards a $1 trillion market capTreasury yields rise, hammering gold but so far having no impact on BTCBitwise launches a new DeFi index fund for accredited and institutional investorsChristie’s is auctioning off NFTsCoinbase is trading at a $77 billion valuation on the private markets -Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.-Image credit: Steven Ferdman/Getty Images EntertainmentSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
17/02/2110m 36s

BREAKDOWN: Is $50,000 BTC the Beginning of a Bitcoin Supercycle?

As bitcoin reaches a new milestone all-time high, NLW asks whether we’ve broken out of a traditional halving-based market cycle to something bigger.This episode is sponsored by Nexo.io.Early this morning, bitcoin reached a new all-time high above $50,000. While the market quickly retraced, the psychological barrier was breached. On today’s episode, NLW explores what it means, including whether there is any technical value in the number and Michael Saylor and MicroStrategy’s new $600 million debt offering to buy more bitcoin. He also explores Dan Held’s concept of a bitcoin supercycle, looking at the three pillars of the argument:Perfect macro backdropSingular narrative Availability and ease of use-Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.-Image credit:  Overearth/iStock/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
16/02/2119m 51s

BREAKDOWN: The Mainstream Media Narrative Shifts as Deutsche Bank and Morgan Stanley Come to Bitcoin

As another wave of major financial institutions announce bitcoin plans, it’s getting harder for the MSM to simply print the same old FUD. This episode is sponsored by Nexo.io.Today on the Brief:A follow-up on celebrity in cryptoDapper Labs and BlockFi raising at multibillion dollar valuationsCathie Wood and ARK increase their bitcoin positionOur main discussion looks at the latest institutional bitcoin news:Deutsche Bank – the world’s 21st largest – quietly revealed a digital asset custody program with much bigger ambitions in a December 2020 World Economic Forum report Bloomberg is reporting that Morgan Stanley’s $150B investment unit is considering a direct bitcoin position-Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.-Image credit: Talaj/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
15/02/2112m 16s

BREAKDOWN: Why Comparing Bitcoin to Visa Doesn’t Make Any Sense

A reading of Nic Carter’s latest essay for CoinDesk on the inappropriateness of comparing the energy consumption of bitcoin and Visa transactions. This episode is sponsored by Nexo.io.This week’s “Long Reads Sunday” is a reading of Nic Carter’s latest essay for CoinDesk “What Bloomberg Gets Wrong About Bitcoin’s Climate Footprint.”-Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.-Image credit: Andrew Harrer/Bloomberg via Getty ImagesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
14/02/2114m 38s

OPINIONATED: Preston Byrne on GameStop, Online Mobs and Marmots

Attorney Preston Byrne joins Ben Schiller to consider the continuing fallout from the WallStreetBets controversy.This episode is sponsored by Nexo.io.Preston Byrne is a partner in Anderson Kill's Technology, Media and Distributed Systems Group, and a CoinDesk columnist. He joins CoinDesk Features Editor Ben Schiller to discuss his recent op-ed about GameStop, Robinhood and the rise of online mobs. See the article here:‘The Squeezening’: How the GameStop Backlash Will Curtail FreedomSchiller spoke to Byrne about:The rise of online mobs from GameStop to Capitol Hill and how the internet is impacting real life in an increasingly tangible wayWhat policymakers can do to prevent mobs doing damage to decent companiesWhy it’s likely the WallStreetBets Reddit contained some pump-and-dumpersHow the regulatory reaction to the WallStreetBets could impact cryptocurrencies How the backlash from “elites” impacted by GameStop could harm free speechWhy Preston Byrne supports marmots (which are like squirrels or groundhogs) -Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
13/02/2121m 2s

BREAKDOWN: Corporate Crypto Makes Government Bans Less Likely

A recap of a swath of news about corporate players coming into the crypto space, and why it could change the landscape of regulation.This episode is sponsored by Nexo.io.On this edition of the weekly recap, NLW breaks down the entrance of corporates into the crypto space this week, including:TeslaBNY MellonMastercardTwitterAmazonHe also argues that more corporate actors investing in bitcoin and crypto makes it significantly less likely the U.S. government would look towards severe regulation.This week on The Breakdown:Monday | Elon Musk Buys Bitcoin: Everything You Need to Know About Tesla’s $1.5B PurchaseTuesday | Will Apple Be the Next Fortune 500 to Buy Bitcoin?Wednesday | How Nigeria and India Are Dealing With Crypto BansThursday | Gradually, Then Suddenly: Mastercard, BNY Mellon, Amazon, Twitter Poised to Join the Bitcoin PartyFriday | Why Jay-Z’s Bitcoin Trust Matters-Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.-Image credit: Blablo101/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
13/02/218m 30s

BREAKDOWN: Why Jay-Z's Bitcoin Trust Matters

Hip-hop mogul Sean Carter and Jack Dorsey are putting 500 BTC in a blind trust. This episode is sponsored by Nexo.io.On today’s episode, NLW breaks down:The Miami Commissioners vote to start educating people about bitcoin and cryptoThe Nigerian Senate debate following the Central Bank of Nigeria’s recent crypto banWhy Jay-Z and Jack Dorsey’s bitcoin trust mattersNLW argues the relationship between the crypto industry and celebrities is very different this time around compared to the previous ICO-led bull market. -Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.-Image credit: Shareif Ziyadat/Getty Images EntertainmentSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
12/02/2114m 50s

BREAKDOWN: Gradually, Then Suddenly - Mastercard, BNY Mellon, Amazon, Twitter Poised to Join the Bitcoin Party

In the wake of Tesla’s big announcement on Monday, a wave of corporate engagement with crypto emerges.This episode is sponsored by Nexo.io.On today’s episode of The Breakdown, NLW looks at a slew of news from corporates getting into the bitcoin and crypto space, including:Twitter CFO exploring bitcoin treasury holdings and payments to employees and vendorsMastercard announcing crypto coming to payment rails in 2021Amazon revealing its digital currency plans in a series of job postsBNY Mellon, the world’s largest asset custodian, opening new digital asset business Why Christine Lagarde says central banks won’t buy bitcoin anytime soon. -Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.-Image credit: Gabby Jones/Bloomberg via Getty Images, modified by CoinDeskSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
11/02/2113m 24s

BREAKDOWN: How Nigeria and India Are Dealing With Crypto Bans

Two of the world’s ten most populous countries have or are considering crypto bans: Here’s what it means.This episode is sponsored by Nexo.io.On today’s episode, NLW examines two governments' attempts to restrict how their citizens interact with crypto. He breaks down:India’s history with crypto bansIndia’s history with demonetization and financial controlWhat we know about a new bill that would ban crypto and provide a framework for an Indian government digital currencyRecent action by the Central Bank of Nigeria to block banks from interacting with cryptoWhy the CBN action might be related to the politics of the #EndSars movement-Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.-Image credit: Jason Alden/Bloomberg via Getty ImagesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
10/02/2120m 17s

BREAKDOWN: Will Apple Be the Next Fortune 500 to Buy Bitcoin?

A new analyst report from the Royal Bank of Canada thinks that with a small investment Apple could disrupt the crypto exchange space and pay for it by buying bitcoin.This episode is sponsored by Nexo.io.Today on the Brief:A shifting inflation narrativeReddit raises $250M and has a $6B valuation Castle Island Ventures announces $50M fund II Our main discussion: Might Apple by the next company to dive into bitcoin? In the wake of Tesla’s surprise $1.5 billion bitcoin purchase announcement, many are wondering which Fortune 500 will be next. According to a new report from the Royal Bank of Canada - the country’s largest bank with more than C$800 billion in assets - the best candidate may be Apple. In this episode, NLW breaks down:Why the RBC thinks Apple should build a crypto exchangeHow a BTC treasury purchase could fund itWhy the crypto exchange space and the bitcoin treasury movement are both white-hot topics of discussion right now-Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.-Image credit: David Paul Morris/Bloomberg via Getty ImagesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
09/02/2118m 1s

BREAKDOWN: Elon Musk Buys Bitcoin - Everything You Need to Know About Tesla's $1.5B Purchase

The implications of Elon Musk’s purchase on bitcoin’s climate narrative, other Fortune 500 treasury management strategies and more.This episode is sponsored by Nexo.io.Elon Musk’s Tesla (TSLA) has purchased $1.5 billion in bitcoin as a treasury reserve asset. Additionally, the company will soon be allowing people to pay for Teslas with bitcoin. In this episode, NLW breaks down:How Elon got to this moment, including his exchanges with MicroStrategy’s (MSTR) Michael SaylorWhat critics of the Tesla community and the bitcoin community are likely to say How this de-risks bitcoin purchases for other Fortune 500 companies How it relates to Elon’s doge memeing Why this is likely to have a significant impact on bitcoin’s narrative regarding climate change and energy use Why Cathie Wood is laughing all the way to the bank. -Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.-Image credit: Britta Pedersen/Getty Images EntertainmentSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
08/02/2122m 9s

BREAKDOWN: Wall Street Is ‘The Hunger Games’ With Suits

A reading of Ben Hunt’s latest essay for Epsilon Theory. This episode is sponsored by Nexo.io.On this edition of Long Reads Sunday, NLW reads Ben Hunt’s latest essay “Hunger Games” about the lies of Wall Street and how the GameStop episode has exposed them for all to see. -Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.-Image credit: Feodora Chiosea/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
07/02/2120m 51s

BREAKDOWN: A Bitcoiner Is Now on the Senate Banking Committee

Wyoming’s Cynthia Lummis – the first U.S. senator to publicly hold bitcoin – has been appointed to the key financial regulatory committee.This episode is sponsored by Nexo.io.On this edition of The Breakdown’s weekly recap, NLW discusses:The state of WallStreetBetsThe Bitcoin for Corporations eventETH all-time highs in advance of CME ETH futuresTetherCynthia Lummis on the Senate Banking CommitteeThis week on The Breakdown:Monday | Have the Hedge Funds Infiltrated Reddit’s WallStreetBets?Tuesday | Is This the End of the Reddit Retail Investor Dream?Wednesday | Michael Saylor’s Mission to Get 1,400 Corporations Into BitcoinThursday | What We Learned About PayPal’s Crypto Strategy This WeekFriday | Travis Kling: In the Fed Era, There’s No Such Thing as Market Fundamentals-Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.-Image credit: Caroline Brehman/Getty Images NewsSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
06/02/219m 39s

BREAKDOWN: Travis Kling – In the Fed Era, There’s No Such Thing as Market Fundamentals

The Ikigai Asset Management investor discusses WallStreetBets, institutional investors and recent bitcoin critiques. This episode is sponsored by Nexo.io.On today’s episode, NLW is joined by Travis Kling, co-founder and chief investment officer of Ikigai Asset Management. They discuss:GameStop, WallStreetBets and financial populismWhether regulatory hearings will actually address any issues around retail investors How WallStreetBets relates to bitcoinThe rise of institutional investors The end of career risk around bitcoin for investment professionalsWhy recent bitcoin FUD has been disingenuousHow investors can price risk in bitcoin Where DeFi fits for institutional investors-Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.-Image credit: Overearth/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
05/02/211h 17m

BREAKDOWN: What We Learned About PayPal's Crypto Strategy This Week

Insights from PayPal’s first quarterly earnings report since launching crypto services.This episode is sponsored by Nexo.io.Today on the Brief:Elon Musk back to DOGE trollingBank of England says to prepare for negative interest ratesJanet Yellen on “Good Morning America” discussing retail investorsOur main discussion: What did we learn about PayPal’s crypto strategy from its quarterly earnings report? In this episode, NLW breaks down:How PayPal’s perspective on crypto evolvedWhat we learned about the success of its offering in Q4 2020What’s next for crypto at PayPal in 2021Why its biggest play is squarely focused on central bank digital currencies -Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.-Image credit: Manuel Blondeau/Corbis via Getty ImagesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
04/02/2114m 13s

BREAKDOWN: Michael Saylor’s Mission to Get 1,400 Corporations Into Bitcoin

MicroStrategy is hosting a two-day “Bitcoin for Corporations” event. Here’s what to watch for. This episode is sponsored by Nexo.io.Today on the Brief:An update on Ant and Jack MaBezos stepping down as CEO of Amazon Miami’s play to become a crypto hubOur main discussion: MicroStrategy’s “Bitcoin for Corporations” event Michael Saylor and MicroStrategy opened a new category of bitcoin investment last year when the company moved hundreds of millions of dollars of cash reserves into bitcoin. For the next two days, the company is hosting a virtual conference designed to help the 1,400 corporate leader attendees discover the playbook that allowed them to make the dramatic move that has paid off so well. In this episode, NLW examines the current state of institutional investment in crypto and asks what this event says about what might be coming next.-Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.-Image credit: putragin/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
03/02/2122m 4s

BREAKDOWN: Is This the End of the Reddit Retail Investor Dream?

As GME plummets and traditional financial media turns its attention elsewhere, where does the retail trading insurgency go from here? This episode is sponsored by Nexo.io.WallStreetBets is having a rough day. Its stocks are crashing. Champions from as recently as last week are selling out. More brokerage apps are turning off buying. In this episode, NLW explores what it means for this set of assets and the larger shift in power from institutional to retail investors. He argues, ultimately, that over the last year retail traders of the type led by WSB have established themselves as too powerful a force for the market to simply turn away from now. -Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.-Image credit: Brent Lewin/Bloomberg via Getty ImagesIntro song credit: https://www.reddit.com/r/wallstreetbets/comments/l0dfrp/the_tendieman_lyrics_and_video_by_uquigonshinSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
02/02/2120m 16s

BREAKDOWN: Have the Hedge Funds Infiltrated Reddit’s WallStreetBets?

The media keeps saying WallStreetBets is going after silver; WallStreetBets members say it’s a campaign to co-opt and divide them. This episode is sponsored by Nexo.io.Today on the Brief:Elon Musk talks bitcoin on ClubhouseIndia trying to ban crypto?DEXs have best month ever in January Our main discussion: Has WallStreetBets been infiltrated by hedge funds? Reddit community WallStreetBets became headline news last week when its short squeeze of GameStop (GME) nearly brought a famed hedge fund to its knees. According to Twitter personalities and the mainstream media, the community has now turned its focus to squeezing silver. Except, one cursory look at the subreddit shows that isn’t the case. Instead, it is full of posts about how hedge funds and media are trying to promote the silver story to distract and divide the community. In this episode, NLW tries to break down what’s happening and argues that now that WSB has become a market force, these sort of attempts to influence its conversation are going to become de rigeur. -Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.-Image credit: Nicky Loh/Bloomberg via Getty Images and WallStreetBets SubredditSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
01/02/2119m 14s

BREAKDOWN: What Ray Dalio Really Thinks of Bitcoin

A reading of Dalio’s first long-form essay on his thoughts about bitcoin and cryptocurrencies.This episode is sponsored by Nexo.io.Today’s “Long Reads Sunday” is a reading of Ray Dalio’s recent LinkedIn post, “What I Really Think of Bitcoin.” In his interpretation, NLW argues the post shows Dalio and Bridgewater are at the beginning of a deep dive into the space.-Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.-Image credit: Eoin Noonan/Getty Images EuropeSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
31/01/2111m 13s

BREAKDOWN: GameStop, Robinhood and the Failure of Un-Free Markets

The latest in the saga of WallStreetBets vs the world.This episode is sponsored by Nexo.io.In this edition of the Breakdown’s weekly recap, NLW looks at:Robinhood’s ham-fisted explanations for why it shut down buying for GME and other stocksWhy the root cause seems to have been insolvencyHow politicians are gearing up for political inquiries around the trading shutdowns How WSB is reacting to the shutdown attempts This week on The Breakdown:Monday | The Bitcoin Whales Won’t Stop BuyingTuesday | ‘The 4 Wars We Could Fight With China,’ Feat. Kyle BassWednesday | Why Bitcoin Has More Ideological Flexibility Than We ThinkThursday | WallStreetBets Is Occupy Wall Street With TeethFriday | In Retrospect, It Was Inevitable: Elon Musk Pumps Bitcoin to Space-Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.-Image credit: Tiffany Hagler-Geard/Getty ImagesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
30/01/2115m 13s

BREAKDOWN: In Retrospect, It Was Inevitable – Elon Musk Pumps Bitcoin to Space

The price action is fun, but the larger significance is about decentralized alternatives to today’s financial system. This episode is sponsored by Nexo.io.Last night, Tesla and SpaceX founder Elon Musk changed his Twitter profile to a single word: “bitcoin.” He also tweeted a cryptic message: “In Retrospect, It Was Inevitable.”The price of bitcoin surged in the wake of the tweet, as did Google searches for “bitcoin.” The price increases liquidated some $387 million in short positions. In this episode, NLW breaks down the market reaction to Musk, the significance of the tweet and why it all connects to the larger story of WallStreetBets, Robinhood and shifting financial power. -Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.-Image credit: Kevork Djansezian/Getty Images NewsSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
29/01/2112m 17s

BREAKDOWN: WallStreetBets Is Occupy Wall Street With Teeth

The retail trader insurgency has massive implications for the future of capital markets. This episode is sponsored by Nexo.io.This week, a collective of foul-mouthed internet memers took down some of Wall Street’s best-known hedge funds. In today’s episode, NLW looks at:The historical context of how the Great Financial Crisis set the stage for WallStreetBetsHow WSB gained infamy during the COVID-19 crisis by correctly predicting the market’s rebound while other investors remained bearish Why WSB started going after short-sellers, particularly around GameStop (GME)How WSB forced a short squeeze that required Melvin Capital to call in nearly $3B of emergency capital Why Robinhood forcing users to stop buying GameStop and other related assets will go down as an inflection point in the history of capital markets-Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.-Image credit: Spencer Platt/Getty Images News and WallStreetBets SubredditSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
28/01/2127m 19s

BREAKDOWN: Bitcoin Doesn't Care About Your Politics – Why Bitcoin Has More Ideological Flexibility Than We Think

NLW is joined by three philosophy professors for a discussion of bitcoin, ethics and politics.This episode is sponsored by Nexo.io.Falling down the proverbial bitcoin rabbit hole tends to lead people to ask deep questions about the nature of the economy and society. Today’s Breakdown guests are all professionally trained to ask those sorts of questions as philosophers. NLW is joined by:Andrew Bailey, Yale-NUS College @resistancemoneyBradley Rettler, University of Wyoming @rettlerbCraig Warmke, Northern Illinois University @craigwarmkeThe three form a research collective called Resistance Money and are working on a book about bitcoin’s use helping individuals overcome infringement by states and other institutions. On this episode they discuss bitcoin’s ideological flexibility and situate it in the context of the larger political landscape.-Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.-Image credit: Crisfotolux/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
27/01/211h 5m

BREAKDOWN: ‘The 4 Wars We Could Fight With China,’ Feat. Kyle Bass

One of investing’s loudest critics of China shares his assessment of where the U.S. political and business relationship with the country is headed. This episode is sponsored by Nexo.io.In this episode, NLW speaks with Kyle Bass. Kyle is the founder and chief investment officer of Hayman Capital Management, a hedge fund focused on global events. He is known for correctly predicting the subprime mortgage crisis, as well as for his outspoken and critical views on China. In this episode, he and NLW discuss: Contrarian investingThe larger macro landscapeBitcoin and crypto How the U.S.’ relationship with China changed under former President Donald TrumpHow the relationship is likely to evolve under current President Joe Biden Find our guest online: @Jkylebass-Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.-Image credit: MicroStockHub/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
26/01/2146m 56s

BREAKDOWN: The Bitcoin Whales Won’t Stop Buying

According to a number of different data points, bitcoin whales saw last week’s volatility and price declines as a chance to accumulate. This episode is sponsored by Nexo.io.Today’s grab-bag episode looks at five different topics:Bitcoin whales kept accumulating during last week’s dipJim Cramer advises Powerball winner to put 5% in bitcoinPreviewing the first FOMC meeting of the Biden AdministrationEarnings week on Wall Street looks good for Big TechAn insider’s look at the state of crypto venture capital-Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.-Image credit: munandme/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
25/01/2119m 52s

BREAKDOWN: A Reading of Satoshi’s Bitcoin White Paper

The document that started it all, in audio form.This episode is sponsored by Nexo.io.For this week’s Long Reads Sunday, NLW reads the document that started it all - the Bitcoin White Paper. Interestingly, this document was released under an MIT open-source license, available free to all. -Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.-Image credit: Emir Hoyman/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
24/01/2117m 54s

BREAKDOWN: Another Pro-Crypto Appointment in the Biden Administration?

Reports are that Chris Brummer – author of a volume on crypto assets and frequent speaker on digital currencies – will chair the CFTC.This episode is sponsored by Nexo.io.On this edition of the Weekly Recap, NLW argues that while bitcoin’s price was the short-term story of the week, the medium-term story was all about the transition of power in the U.S. to the new Biden Administration. In it, he discusses what the appointments (reported or confirmed) of Janet Yellen, Gary Gensler, Michael Barr and Chris Brummer suggest about the future of crypto policy. This week on The Breakdown:Monday | Lyn Alden on Why the Dollar System No Longer Serves the US or the WorldTuesday | Goldman Sachs Can No Longer Dismiss BitcoinWednesday | Is Janet Yellen Bitcoin’s Biggest Enemy or Greatest Asset? YesThursday | Why the World’s Largest Asset Manager Is Getting Into BitcoinFriday | This Bitcoin Dip Was Not Caused by FUD-Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.-Image credit: Chip Somodevilla/Getty Images NewsSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
23/01/2111m 17s

BREAKDOWN: This Bitcoin Dip Was Not Caused by FUD

While there was plenty of FUD flying around, it wasn’t the real reason prices pulled back so significantly.This episode is sponsored by Nexo.io.Today on the Brief:Home sales up, home supply downBiden’s first test on the stimulusEuro pessimism Our main discussion: Why the bitcoin dip wasn’t caused by FUD. Anyone paying attention this week had reasons for frenetic worry. Janet Yellen’s comments on criminal activity. Persistent questions around Tether. A non-story about a double-spend that got amplified by mainstream media. In this episode, NLW argues that none of these actually explains the dip. Instead, he argues, they were used by sophisticated traders to amplify the dip’s impact. -Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.-Image credit: Nuthawut Somsuk/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
22/01/2114m 42s

BREAKDOWN: Why the World's Largest Asset Manager Is Getting Into Bitcoin

As BlackRock gets ready to make its first foray into bitcoin, innovation-focused ARK ETF flows surpass that of BlackRock. This episode is sponsored by Nexo.io.Today on the Brief:A new SPAC exchange-traded fund with bitcoin-experienced leadershipFirst look at Brian Brooks’ possible replacement at OCCWhat to expect from institutional bitcoin price targets in the coming weeksOur main discussion: BlackRock comes to bitcoin. BlackRock filings with the SEC suggest two funds might buy bitcoin futures. In this episode, NLW looks at:The signs leading up to BlackRock’s interestWhy BlackRock’s CIO thinks bitcoin will out-compete gold for millennial investors How ARK ETFs are seeing startling fund flows, causing larger market FOMO around innovation-Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.-Image credit: Stephanie Keith/Getty Images NewsSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
21/01/2113m 28s

BREAKDOWN: Is Janet Yellen Bitcoin's Biggest Enemy or Greatest Asset? Yes

As a new administration is sworn in, how will one if its most important officials – nominated Treasury Secretary Janet Yellen – impact the digital assets space? This episode is sponsored by Nexo.io.Today on the Brief:Jack Ma is not deadThe latest in crypto M&ADeutsche Bank survey sites bitcoin as biggest bubbleOur main discussion: Yellen’s impact on bitcoin and digital assetsIn this episode, NLW breaks down the cryptocurrency FUD competing to be the “wall of worry” for the new 2021 bull market, including Tether FUD, environmental FUD and the idea that crypto is only used for crime. The illicit transactions idea was given new oxygen when Janet Yellen repeated it in her Senate confirmation hearing this week. New research from Chainalysis shows, however, that the percentage of crypto volume involved in crime is decreasing.-Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.-Image credit: Mark Wilson/Getty Images NewsSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
20/01/2121m 55s

BREAKDOWN: Goldman Sachs Can No Longer Dismiss Bitcoin

According to a Goldman insider, the investment bank will leap into crypto custody soon.This episode is sponsored by Nexo.io.Today on the Brief: Gary Gensler is officially Biden’s pick for SEC chairmanInvestors are betting against the U.S. dollarGrayscale has best day ever with $700 million in investmentEthereum reaches new all-time high Our main discussion: Goldman Sachs reportedly coming to crypto. Over the last year, many traditional financial institutions have recanted previous skepticism to join the bitcoin space. For most of that time, Goldman Sachs has been a noticeable holdout, saying as recently as last May that bitcoin and cryptocurrency weren’t an asset class. According to new reports from a Goldman insider, all that is finally changing as the bank prepares a crypto custody strategy. The change in attitude is inspired at least in part by the recent rulings from the Office of the Comptroller of the Currency. -Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.Image credit: Chris Hondros/Getty Images NewsSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
19/01/2115m 27s

BREAKDOWN: Lyn Alden on Why the Dollar System No Longer Serves the US or the World

This is an encore presentation of NLW’s first interview with macro analyst Lyn Alden, from May 2020. In it, they discuss:Why we’re at the end of a strong dollar cycleWhy the Federal Reserve is terrified of the global dollar shortageThe difference in creditor vs. debtor nationsThe concept of the Triffin dilemma Why Japan has been able to print money without seeing rampant inflation Why we have inflationary and deflationary forces competing to influence the U.S. economy Why debt is going to matter more than ever What alternatives to the USD system might look likeImage credit: imagedepotpro/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
18/01/2159m 59s

BREAKDOWN: ‘America and Sound Money,’ the Most Important Bitcoin Essay of the Last Year

A reading of the “Stone Ridge 2020 Shareholder Letter” by Ross Stevens.This episode is sponsored by Nexo.io.This week’s Long Reads Sunday is a reading of the “Stone Ridge 2020 Shareholder Letter” by Ross Stevens, CEO and co-founder of Stone Ridge Asset Management, discussing the history of America, sound money and Stevens’ bitcoin “aha” moment.-Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.Image credit: Velishchuk/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
17/01/2135m 8s

BREAKDOWN: Crashes, Rallies and Stimulus – A Normal Week for 2021 Bitcoin

The second full business week of January has demonstrated many trends that NLW argues will shape bitcoin and crypto throughout the year.This episode is sponsored by Nexo.io.On “The Breakdown’s” Weekly Recap, NLW argues that this week is exemplary of a set of trends that will define 2021, including:Market volatilityMacro tailwinds Convergence of crypto and traditional financeRegulatory battles and opportunitiesStrange categories of FUDThis week on The Breakdown:Monday | Did This Bitcoin Cycle’s FUD Phase Just Begin?Tuesday | Is China Poised to Nationalize Alibaba?Wednesday | A New SEC Chair Who Actually Understands Bitcoin and Crypto?Thursday | The Definitive Breakdown of All Bitcoin FUD, With Dan HeldFriday | Will Mayor Suarez’s Miami Be the First Major City to Buy Bitcoin?-Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.Image credit: glorcza/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
16/01/219m 52s

BREAKDOWN: Will Mayor Suarez's Miami Be the First Major City to Buy Bitcoin?

The entrepreneurial mayor brings his recruitment of tech talent to the crypto space with the potential of a 1% investment of the city’s reserves into BTC.This episode is sponsored by Nexo.io.Today on the Brief:Initial jobless claims grow the most since MarchBiden unveils emergency relief planFed Chair Powell discusses CBDCs and stablecoinsOur main discussion: Is Miami about to put 1% of its treasury into bitcoin? Since December 2020 there has been a lot of conversation about whether Miami could become the next Silicon Valley, or at least recruit a big swath of entrepreneurial talent to set up shop. In this episode, NLW looks at how that discussion moved into the crypto realm and led to Mayor Suarez’s recent discussions about moving Miami’s treasury into bitcoin. He argues that the story is about the larger shifts in how cities and geographic regions compete for supremacy in the social media, remote work era.-Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.Image credit: Joe Raedle/Getty Images NewsSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
15/01/2117m 39s

BREAKDOWN: The Definitive Breakdown of All Bitcoin FUD, With Dan Held

From “backed by nothing” to “China mining control,” a complete look at the best response to every category of bitcoin FUD out there.This episode is sponsored by Nexo.io.On today’s episode of The Breakdown, NLW is joined by Dan Held, growth lead at Kraken and a serial bitcoin entrepreneur. As the market heats up, so, too, does the number of articles and tweets spreading FUD (fear, uncertainty and doubt). Some of the FUD is new, much of it is old and all of it deserves a response. Dan and NLW break down 15 categories of FUD, including:Bitcoin is for criminalsBitcoin is backed by nothing/has no intrinsic valueTether manipulationEnergy consumptionGovernment bans And more! Which are the most legitimate? Which are easily dismissed? Tune in to find out.Find our guest online:Twitter: @danheldWebsite: danheld.com-Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.Image credit: Ja_inter/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
14/01/2146m 10s

BREAKDOWN: A New SEC Chair Who Actually Understands Bitcoin and Crypto?

After his most recent stint teaching about blockchain at MIT, former CFTC head Gary Gensler is reportedly the next SEC Chair.This episode is sponsored by Nexo.io.Today on the Brief:Visa drops $5.3B Plaid acquisition after DOJ antitrust suitECB President Christine Lagarde discusses bitcoin and digital euro Acting OCC chief Brian Brooks to step down this week Our main discussion: Gary Gensler rumored to be the new SEC Chair. In this episode, NLW discusses:Gensler’s background at Goldman, CFTC and MITGensler’s MIT coursePrevious statements on Bitcoin, Ethereum, and RippleThe crypto communities reaction to Gensler at the SEC-Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.Image credit: Alex Wong/Getty Images NewsSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
13/01/2114m 2s

BREAKDOWN: Is China Poised to Nationalize Alibaba?

The International Business Times reports China might nationalize Alibaba. Here’s what that has to do with China’s digital currency efforts. This episode is sponsored by Nexo.io and this week’s special product launch: Stacks.co.Today on the Brief:Whales accumulated during yesterday’s crash Kentucky legislators introduce bill to attract crypto minersUBS lowers the threshold for charging savers because of negative interest ratesOur main discussion: What China’s prospective nationalization of Alibaba has to do with the nation’s digital currency efforts. In this episode, NLW:Gives a background on China’s digital currency projectDiscusses why the DCEP is motivated by a larger attempt to internationalize the RMBBackground on Alipay, Ant Financial and AlibabaHow Alibaba founder Jack Ma annoyed the CCP and why he hasn’t been seen publicly in two months-Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.-A new era of innovation on Bitcoin has begun. Stacks 2.0 enables secure apps and smart contracts on Bitcoin, unlocking new use cases and value while laying the foundation for a user-owned internet. https://stacks.co.Image credit: Wang HE/Getty Images NewsSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
12/01/2118m 44s

BREAKDOWN: Did This Bitcoin Cycle’s FUD Phase Just Begin?

As the price crashes more than 20% in 24 hours, NLW describes the “wall of worry” around regulation that might characterize this cycle’s FUD.This episode is sponsored by Nexo.io and this week’s special product launch: Stacks.co.Today on the brief:Trump ejected from social media Bakkt confirms plans to go public via SPACNYDIG buys Digital Assets DataOur main discussion: Are we at the beginning of a new FUD cycle? In this episode, NLW looks at:What happened with bitcoin’s big price crashHow the crypto community is reacting to the dip New regulatory FUD out of the U.K.Why regulatory issues are likely to be this bull market’s “wall of worry”-Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.-A new era of innovation on Bitcoin has begun. Stacks 2.0 enables secure apps and smart contracts on Bitcoin, unlocking new use cases and value while laying the foundation for a user-owned internet. https://stacks.co.Image credit: Nathan Stirk/Getty Images NewsSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
11/01/2116m 39s

BREAKDOWN: Why I Changed My Mind on Bitcoin

A reading of two recent essays by former bitcoin skeptics who have changed their tunes.This episode is sponsored by Nexo.io and this week’s special product launch: Stacks.co.On this week’s Long Reads Sunday, NLW reads two pieces from former bitcoin skeptics who have changed their mind about the asset. “Bitcoin Crushes Doubters as 224% Rally Proves It’s Here to Stay” by Ed van der Walt “Why I’ve Changed My Mind on Bitcoin” by Nick Maggiulli, COO of Ritholtz Wealth Management -Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.-A new era of innovation on Bitcoin has begun. Stacks 2.0 enables secure apps and smart contracts on Bitcoin, unlocking new use cases and value while laying the foundation for a user-owned internet. https://stacks.co.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
10/01/2112m 42s

BREAKDOWN: Was This The Craziest Week in Bitcoin History?

Transformative regulatory guidance, important macro tailwinds and, of course, a stunning run-up past $40,000.This episode is sponsored by Nexo.io and this week’s special product launch: Stacks.co.On this edition of The Breakdown’s weekly recap, NLW looks at what was one of the most spectacular and surprising weeks in bitcoin and crypto history. Specifically, he discusses:Price actionMacro tailwindsRegulatory shifts in surprise guidance from the OCCRetail investor momentum building This week on The Breakdown:Monday | Understanding Bitcoin’s Blistering Rise Past $30,000Tuesday | Most Important Crypto Regulation Yet? Banks Can Treat Public Blockchains Like SWIFT and ACHWednesday | What Georgia’s Elections Mean for BitcoinThursday | Can Bitcoin Just Keep Going Up?Friday | BRRR: Biden Readies a New $3T Stimulus Package-Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.-A new era of innovation on Bitcoin has begun. Stacks 2.0 enables secure apps and smart contracts on Bitcoin, unlocking new use cases and value while laying the foundation for a user-owned internet. https://stacks.co.Image credit: peshkov/Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
09/01/2110m 56s

BREAKDOWN: BRRR – Biden Readies a New $3T Stimulus Package

What a new package including more direct payouts to citizens plus big infrastructure spending mean for bitcoin and markets as a whole.This episode is sponsored by Nexo.io and this week’s special product launch: Stacks.co.Today on the Brief:U.S. loses 140,000 jobs in DecemberChamath’s SoFi SPACA SPAC for BakktOur main discussion: upcoming stimulus plans As the dust (finally? sort of?) settles on elections that began last year, the Democrats are looking to jump right out of the gate with a new set of stimulus plans, including both payments to individuals as well as big infrastructure spending. In this episode, NLW discusses the specifics we know so far, the potential challenges to get these plans passed and what the implications for bitcoin might be.-Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.-A new era of innovation on Bitcoin has begun. Stacks 2.0 enables secure apps and smart contracts on Bitcoin, unlocking new use cases and value while laying the foundation for a user-owned internet. https://stacks.co.Image credit: Joshua Roberts/Getty Images NewsSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
08/01/2112m 40s

BREAKDOWN: Can Bitcoin Just Keep Going Up?

With bitcoin (briefly) passing $40,000 for the first time, the question becomes: Can it keep going or is a reset necessary? This episode is sponsored by Nexo.io and this week’s special product launch: Stacks.co.Today on the Brief:U.S. President Trump signs order banning Chinese appsInitial jobless claims hold steady at 787,000Elon Musk becomes the world’s richest personOur main discussion: Can bitcoin just keep going up? In this episode, NLW breaks down:What’s driving the rally, including the growth of institutional buyers, burgeoning retail FOMO, Asian markets and more Why some indicators are pointing towards a trader move into altcoins Why, despite the rapid growth, bitcoin remains undervalued -Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.-A new era of innovation on Bitcoin has begun. Stacks 2.0 enables secure apps and smart contracts on Bitcoin, unlocking new use cases and value while laying the foundation for a user-owned internet. https://stacks.co.Image credit: Vertigo3d/iStock via Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
07/01/2115m 55s

BREAKDOWN: What Georgia’s Elections Mean for Bitcoin

As the Democrats appear to be headed to victory, how does their new U.S. Senate majority impact markets as a whole and bitcoin more specifically? This episode is sponsored by Nexo.io and this week’s special product launch: Stacks.co.Today on the Brief:ShapeShift goes full DEXNeil Young and the changing business of musicChina stocks delisted from NYSEOur main discussion: What are the implications of Georgia’s runoff elections for bitcoin and markets as a whole? In this episode, NLW discusses:The immediate response of Crypto Twitter to the victory for DemsWhy Kelly Loeffler was a disappointing industry rep in the Senate Which stocks are going up on the news and whyWhy a Democrat Senate majority is driving up inflation expectationsWhy discussions of UBI and digital dollars and more in play than ever Why bitcoin stands to be supercharged by the coming macro environment -Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.-A new era of innovation on Bitcoin has begun. Stacks 2.0 enables secure apps and smart contracts on Bitcoin, unlocking new use cases and value while laying the foundation for a user-owned internet. https://stacks.co.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
06/01/2116m 44s

BREAKDOWN: Most Important Crypto Regulation Yet? Banks Can Treat Public Blockchains Like SWIFT and ACH

A new interpretive letter from the Office of the Comptroller of the Currency paves the way for stablecoins and public blockchains to be fully integrated in the financial infrastructure. This episode is sponsored by Nexo.io.Yesterday, the Office of the Comptroller of the Currency released Interpretive Letter 1174. The letter allows banks to participate as nodes in “independent node verification networks” (which you might better know as blockchain networks) as well as use stablecoins for payments settlement. In this episode of The Breakdown, NLW looks at: Crypto Twitter’s response to the news A review of key passages from the letterThe response of criticsThe implications for CBDCs and the geopolitical battle between the U.S. dollar and China’s emerging digital currency Image credit: tampatra/iStock via Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
05/01/2123m 0s

BREAKDOWN: Understanding Bitcoin's Blistering Rise Past $30,000

Bitcoin has started 2021 off with a bang. Here’s what investors and analysts think is driving the rise (and today’s dip) as well as predictions for what happens next. This episode is sponsored by Nexo.io.The end of December was a momentous time in bitcoin’s history. Not content to clear the psychological barrier of $20,000, bitcoin’s price smashed up almost all the way to $30,000, although it would take the turn to the new year to hit that new high-water mark. In this episode, NLW looks at interpretations of why bitcoin is rising, why it dipped today and what analysts and investors think will happen next. This analysis includes:Evidence of institutional FOMO including a rise in bitcoin whale addressesMassive outflows from Coinbase Pro over the weekend The impact of derivatives liquidations that occurred Monday morning Commentary from OTC desks on Q1 2021 possibilitiesImage credit: ayo888/iStock via Getty Images PlusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
04/01/2113m 53s

BREAKDOWN: The Unorthodox Trades That Will Drive Value in 2021, feat. Tony Greer

The macro analyst looks at unexpected sources of strength in the economy.This episode is sponsored by Nexo.io.Tony Greer is a macro analyst and author of the Morning Navigator Newsletter. In this conversation, he and NLW discuss how central banks continued to kick the can down the road on debt as well as unexpected sources of strength for the economy heading into 2021.Find our guest online: @TgMacroSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
03/01/2126m 11s

BREAKDOWN: Why Bitcoin Is Bigger Than an Inflation Hedge, feat. Dan Tapiero

The prominent gold and bitcoin macro commenter discusses a new generation of institutional investors.This episode is sponsored by Nexo.io.Dan Tapiero is an investor and entrepreneur with deep experience in gold and bitcoin. In this conversation with NLW he discusses the new group of institutional investors coming into the space and why, for them, bitcoin represents much more than just a hedge against possible future inflation.Find our guest online: @DTAPCAPSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
02/01/2123m 51s

BREAKDOWN: Bitcoin Is Digital Social Justice, feat. Tyrone Ross

The podcaster and CEO of Onramp Invest discusses DeFi, income inequality and the opportunity for bitcoin in 2021.This episode is sponsored by Nexo.io.The wealth adviser and CEO of Onramp Invest discusses why the Federal Reserve continues to ignore its role in income inequality and what the bitcoin community can do to be a force for positive change.Find our guest online: @TR401See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
01/01/2120m 28s

BREAKDOWN: The Most Important Bitcoin Infrastructure Developments of 2020, feat. Alyse Killeen

A look at privacy and infrastructure advances that will shape the bitcoin ecosystem in the years to come.This episode is sponsored by Crypto.com and Nexo.io.Alyse Killeen is the founder and managing partner of StillMark, and has been investing in bitcoin companies since 2013. While much of the conversation this year has been about high level narratives and new institutional investors, Alyse breaks down the technical advances that happened this year.Find our guest online: @AlyseKilleenSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
31/12/2020m 25s

BREAKDOWN: What 2020 Taught Us About the ‘Dollar Milkshake Theory,’ feat. Brent Johnson

The Santiago Capital investor takes a look at what 2020 taught us about his notable economic theory.This episode is sponsored by Crypto.com and Nexo.io.Brent Johnson is an investor at Santiago Capital and the creator of the well-known “Dollar Milkshake Theory.” In this conversation with NLW, he discusses what 2020 taught us about the state of the dollar around the world.Find our guest online: @santiagoaufundSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
30/12/2022m 28s

BREAKDOWN: The Devastation of Main Street Business, feat. Daniel Lacalle

The popular economist talks about the K-shaped recovery and why we could be in for more pain in 2021.This episode is sponsored by Crypto.com and Nexo.io.Daniel Lacalle is the chief economist for Tressis SV and a well-known economics personality. In this conversation with NLW he discusses the devastation of small businesses in America and around the world and why the recovery could be less even than people think in the year ahead.Find our guest online: @dlacalle_IASee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
29/12/2021m 28s

BREAKDOWN: Bitcoin, Bank Coins and Bonds, feat. George Goncalves

A macro and bond specialist joins NLW to discuss the economics of 2021.This episode is sponsored by Crypto.com and Nexo.io.George Goncalves has been a macro analyst specializing in bonds for more than 20 years. In this conversation, he and NLW discuss the story bonds are telling the market and why central bank digital currencies are likely to have an important part of the macro conversation in 2021.Find our guest online: @bondstrategistSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
28/12/2023m 50s

BREAKDOWN: Sound Money vs. the Great Reset, feat. Mark Moss

One of the most popular economics and bitcoin YouTube host joins NLW for a conversation about how to make 2021 better.This episode is sponsored by Crypto.com and Nexo.io.Mark Moss is the host of a fast-growing and popular YouTube channel covering economics, bitcoin and more. In this conversation, he discusses why gold, bitcoin and sound money have become even more important in the context of central bank printing gone wild.Find our guest online: @1MarkMossSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
27/12/2024m 18s

BREAKDOWN: Central Banks Gone Wild! Feat. Bill Barhydt

The founder of mobile crypto bank Abra discusses the massive expansion of global central bank balance sheets.This episode is sponsored by Crypto.com and Nexo.io.Bill Baryhdt is the CEO of Abra, a mobile crypto banking app. In this discussion with NLW, Bill talks about the year in bitcoin and why the mass expansion of central bank balance sheets was the most important economic story of the year.Find our guest online: @billbarhydtSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
26/12/2024m 54s

BREAKDOWN: The View on Bitcoin From Inside Fidelity Digital Assets, feat. Ria Bhutoria

The director of research at Fidelity Digital Assets gives her take on the crypto space.This episode is sponsored by Crypto.com and Nexo.io.Ria Bhutoria is the director of research at Fidelity Digital Assets. In this conversation she gives listeners a look at how one of the most important institutional players in the space has viewed the evolution of bitcoin over the past year.Find our guest online: @riabhutoriaSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
25/12/2025m 31s

BREAKDOWN: ‘Bitcoin and Ethereum Have Gone Completely Separate Directions,’ Feat. Bully Esq.

One of crypto twitter's best-known personalities discusses DeFi, bitcoin and how 2020 was and wasn't like 2017.This episode is sponsored by Crypto.com and Nexo.io.Bully Esquire is a Crypto Twitter personality, lawyer, founder of AlphaMarkets and host of the “Bully Esquire” podcast. In this conversation, he and NLW discuss what was good and bad about the DeFi boom of 2020 and more.Find our guest online: @bullyesqSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
24/12/2022m 6s

BREAKDOWN: How 2020 Unlocked a New Generation of Investors, feat. Jill Carlson

No one would have expected an economic crisis to bring a new generation of investors to the table, but that's exactly what it did.This episode is sponsored by Crypto.com and Nexo.io.Jill Carlson is an investor with Slow Ventures and the co-founder of the Open Money Initiative. In this wide-ranging discussion with NLW she discusses how an economic crisis brought in a new generation of investors and why political moderation will be all the rage in 2021.Find our guest online: @jillruthcarlsonSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
23/12/2025m 40s

BREAKDOWN: Hacking Humanity With Bitcoin, feat. Max Keiser and Stacy Herbert

Two of bitcoin's most vocal advocates discuss why this year broke open the floodgates on an aging economic system.This episode is sponsored by Crypto.com and Nexo.io.Max Keiser and Stacy Herbert are one of bitcoin's most dynamic duos, producing a variety of content, including the Orange Pill podcast. In this discussion with NLW, they talk about why this year was transformational in terms of how people view the aging economic system, and why 2021 is poised to mint even more new bitcoiners.Find our guests online: @maxkeiser@stacyherbertSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
22/12/2026m 51s

BREAKDOWN: Raoul Pal on the Coming Transformation of Monetary and Fiscal Policy

The founder of Real Vision joins NLW for a discussion of CBDCs, bitcoin and why he remains "irresponsibly long."This episode is sponsored by Crypto.com and Nexo.io.Raoul Pal is the founder and CEO of Global Macro Investor and Real Vision and one of the leading voices in modern macroeconomic discussions. In this conversation, he and NLW discuss bitcoin's monster 2020, how DeFi compares to ICOs, and why we should be paying more attention to central bank digital currencies.Find our guest online: @RaoulGMISee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
21/12/2025m 4s

BREAKDOWN: Why Bitcoin and Rehypothecation Don’t Mix

A reading of Jeffrey Snider’s latest essay and Caitlin Long’s companion tweet thread. This episode is sponsored by Crypto.com and Nexo.io.On this week’s Long Reads Sunday, NLW starts with the latest essay by Jeffrey Snider, “A Nonsensical Jumble of Misused Words Requires Discussion” and then with Caitlin Long’s followup thread, putting the discussion of rehypothecation in the bitcoin context.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
20/12/2021m 27s

BREAKDOWN: Preston Pysh on Why Currencies Fail [Encore]

An encore presentation of NLW’s conversation with Preston Pysh recorded on March 12 – the infamous Black Thursday. This episode is sponsored by Crypto.com and Nexo.io.On March 12, as the U.S. government struggled to wrap its head around the emerging COVID-19 pandemic and markets floundered, bitcoin had one of its worst days in history, crashing by thousands of dollars and even hitting below $4,000 on some exchanges. That evening, NLW and podcaster Preston Pysh recorded a conversation about bitcoin, central banks and what happens when currencies fail. Nine months later, the conversation is as salient as ever. Find our guest online: @PrestonPysh See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
19/12/201h 5m

BREAKDOWN: Balaji Srinivasan on Communist Capital vs. Woke Capital vs. Crypto Capital

One of the internet’s most fluid thinkers joins to give a brief history of the future.This episode is sponsored by Crypto.com and Nexo.io.Balaji Srinivasan is an angel investor and entrepreneur, the former CTO of Coinbase, a former General Partner at Andressen Horowitz and more. In this wide-ranging conversation with NLW, he discusses:How networks are taking a power role once reserved for god and the stateWhy pre-internet institutions will not survive the internet Why bitcoin at $1 million is a global governmentWoke capital vs. communist capital vs. crypto capitalFind our guest online: @balajisSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.