The Breakdown

Today on the Brief: Jack Ma is not dead The latest in crypto M&A Deutsche Bank survey sites bitcoin as biggest bubble Our main discussion: Yellen’s impact on bitcoin and digital assets In 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 -- Enjoying this content? SUBSCRIBE to the Podcast Apple: https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M= Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW The Breakdown is produced and distributed by CoinDesk.com

Today on the Brief:  Gary Gensler is officially Biden’s pick for SEC chairman Investors are betting against the U.S. dollar Grayscale has best day ever with $700 million in investment Ethereum 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 -- Enjoying this content?   SUBSCRIBE to the Podcast Apple:  https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M=   Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW   The Breakdown is produced and distributed by CoinDesk.com

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 cycle Why the Federal Reserve is terrified of the global dollar shortage The difference in creditor vs. debtor nations The 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 like -- Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io -- Enjoying this content?   SUBSCRIBE to the Podcast Apple:  https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M=   Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW   The Breakdown is produced and distributed by CoinDesk.com

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. 

On “The Breakdown’s” Weekly Recap, NLW argues that this week is exemplary of a set of trends that will define 2021, including: Market volatility Macro tailwinds  Convergence of crypto and traditional finance Regulatory battles and opportunities Strange categories of FUD -- Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io -- Enjoying this content?   SUBSCRIBE to the Podcast Apple:  https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M=   Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW   The Breakdown is produced and distributed by CoinDesk.com  

Today on the Brief: Initial jobless claims grow the most since March Biden unveils emergency relief plan Fed Chair Powell discusses CBDCs and stablecoins Our 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 -- Enjoying this content?   SUBSCRIBE to the Podcast Apple:  https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M=   Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW   The Breakdown is produced and distributed by CoinDesk.com

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 criminals Bitcoin is backed by nothing/has no intrinsic value Tether manipulation Energy consumption Government bans  And more!  Which are the most legitimate? Which are easily dismissed? Tune in to find out. Find our guest online: Twitter: @danheld -- Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io -- Enjoying this content?   SUBSCRIBE to the Podcast Apple:  https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M=   Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW   The Breakdown is produced and distributed by CoinDesk.com

Today on the Brief: Visa drops $5.3B Plaid acquisition after DOJ antitrust suit ECB 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 MIT Gensler’s MIT course Previous statements on Bitcoin, Ethereum, and Ripple The crypto communities reaction to Gensler at the SEC 

Today on the Brief: Whales accumulated during yesterday’s crash  Kentucky legislators introduce bill to attract crypto miners UBS lowers the threshold for charging savers because of negative interest rates Our 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 project Discusses why the DCEP is motivated by a larger attempt to internationalize the RMB Background on Alipay, Ant Financial and Alibaba How 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.   -- Enjoying this content?   SUBSCRIBE to the Podcast Apple:  https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M=   Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW   The Breakdown is produced and distributed by CoinDesk.com

Today on the brief: Trump ejected from social media  Bakkt confirms plans to go public via SPAC NYDIG buys Digital Assets Data Our 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 crash How 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.   -- Enjoying this content?   SUBSCRIBE to the Podcast Apple:  https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M=   Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW   The Breakdown is produced and distributed by CoinDesk.com