Decentralization of Cryptocurrency

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 designation
• How 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. 

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“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.