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On The Brink with Castle Island
Weekly Roundup 11/22/24 (Bitcoin $100k?, Gensler Resigns, Nocoiner Rankings, Looking Back) (EP.577)
Nov 22, 2024
The hosts dive into the buzz around Bitcoin potentially hitting $100k and the shocking resignation of SEC chair Gary Gensler. They dissect the ongoing lawsuit against the SEC by 18 state AGs, and the toss of the SEC’s dealer rule by a judge. Trump’s speculation about a crypto czar adds political intrigue, while MicroStrategy's trading premium raises eyebrows. They even conduct a humorous nocoiner draft, highlighting skeptics of Bitcoin amidst lively sports anecdotes. Reflecting on Bitcoin's decade-long journey, excitement for future innovations blooms.
43:16
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Quick takeaways
- Gary Gensler's resignation as SEC Chair highlights the ongoing backlash against aggressive regulatory approaches in the cryptocurrency industry.
- The discussion around Bitcoin potentially reaching $100,000 signals increasing institutional interest and evolving financial products within the crypto market.
Deep dives
The Downfall of Lehman Brothers
Lehman Brothers, a major investment bank, is set to be liquidated due to severe losses from bad mortgage investments, marking a significant event in the financial crisis. This fallout has raised concerns about the stability of financial markets and has led to drastic government interventions. In response to the crises facing major mortgage institutions, the federal government steps in to support Fannie Mae and Freddie Mac, highlighting the housing market's troubles. These actions are seen as part of a broader economic challenge, with the Federal Reserve being criticized for its perceived inaction during this tumultuous period.
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Listen to the best highlights from the podcasts you love and dive into the full episode