CoinDesk Podcast Network

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BREAKDOWN: Why Stablecoins Are the First Battleground of the Coming Crypto Regulation Wars Dec 03, 2020

Show notes

The STABLE Act would force all stablecoin issuers to have bank licenses, a shot across the bow that portends an emerging legal challenge for the industry.

This episode is sponsored by Crypto.com, Nexo.io and this week's special product launch, Allnodes.

On Wednesday, three U.S. congressional Democrats announced the STABLE Act, an 18-page bill that would require, among other things, stablecoin issuers to acquire banking charters, get approval from the Federal Reserve and hold FDIC insurance.

The bill’s authors claim stablecoins represent a continuation of the shadow banking system that preys on poor communities. The crypto industry argues this overly burdensome would not only stifle innovation but ensure the only players in this new space are the deep-pocketed fintechs with the resources for compliance.

In today’s episode, NLW argues this is more than just another bill that will go nowhere in Congress, it’s the opening salvo of a new set of arguments that will define the next face of regulatory battles for the entire crypto industry.

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BREAKDOWN: Josh Brown on Bitcoin’s ‘Respectability Rally’ and Why We’ll See Dow 100,000 in Our Lifetime Dec 02, 2020

Show notes

One of finance’s most colorful personalities joins NLW to discuss how advisers spend their money, Robinhood traders, bitcoin and more.

This episode is sponsored by Crypto.com, Nexo.io and this week's special product launch, Allnodes.

Josh Brown is the CEO of Ritholtz Wealth Management. He is also the host of “The Halftime Report” on CNBC, author of the “Reformed Broker” blog and host of “The Compound Show” podcast.

Most recently, he is the author of “How I Invest My Money: Finance Experts Reveal How They Save, Spend, and Invest.”

In this fun and freewheeling conversation, Josh and NLW discuss:

Why financial advisers give a lot of advice but don’t actually share their personal strategies
What’s driving bitcoin’s “respectability rally” (Read more here)
Why we should be excited about, rather than worried for, the new generation of Robinhood traders
Why the Dow Jones Industrial Average is going to 100,000 in our lifetime

Find our guest online:

Twitter: @reformedbroker

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BREAKDOWN: Why a $631B Asset Manager Just Changed Its Mind on Bitcoin Dec 01, 2020

Show notes

In a research note intended for clients, investing giant AllianceBernstein says it changed its mind on bitcoin’s role in asset allocation.

This episode is sponsored by Crypto.com, Nexo.io and this week's special product launch, Allnodes.

Today on the Brief:

Libra is now “Diem”
Christine Lagarde comes down on private stablecoins
Dow closes its best month in 33 years

Our main discussion: AllianceBernstein changes its mind.

Yesterday, CoinDesk received access to a private client research report from AllianceBernstein, a global investment giant with more than $631 billion in assets.

In this episode of the Breakdown, NLW reads excerpts from the memo and discusses:

Why, in discussing supply, it conflates bitcoin and other cryptos but still finds limited supply “for all practical purposes”
Why prevailing macro political conditions – particularly the growth of government’s role in business and individual lives – shifted the investment firm’s calculus
Why its greatest long-term concern is government banning something that is actively hindering the application of monetary policy

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BREAKDOWN: Bitcoin Hits a New All Time High – What Happens Next? Nov 30, 2020

Show notes

Why a price surge is not only attracting a new cadre of institutional investors, but also producing the beginnings of a new set of FUD.

This episode is sponsored by Crypto.com, Nexo.io and this week's special product launch, Allnodes.

On this historic day, NLW looks at bitcoin’s punch through its previous December 2017 all time high. Specifically, he looks at:

How different people benchmark the all time high
What drove the latest price action, including the prospect of a new investment from institutional asset management giant Guggenheim
Why historian Niall Ferguson is arguing that bitcoin has won the Covid-19 monetary revolution
Why macro giants including Raoul Pal, George Gammon and Ben Hunt got into disagreements with Bitcoin Twitter about how co-opted by the state and Wall Street bitcoin was likely to become

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BREAKDOWN: How Bitcoin Gets to $100,000 Nov 29, 2020

Show notes

Another look at the bitcoin valuation models that could possibly lead to a six-figure bitcoin valuation over the course of the next year.

This episode is sponsored by Crypto.com and Nexo.io.

On this edition of The Breakdown’s Long Reads Sunday, NLW reads a recent piece by Hong Fang, CEO of OKCoin.

In it, Fang provides a set of valuation models and scenarios that plausibly lead to bitcoin achieving a significant $100,000 value over the course of 2021.

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BREAKDOWN: What Janet Yellen as Treasury Secretary Means for Bitcoin and Markets Nov 28, 2020

Show notes

NLW looks at price action in crypto, the ETH 2.0 Beacon chain launching Dec 1, the Dow at 30,000 and Janet Yellen’s nomination as Treasury secretary.

This episode is sponsored by Crypto.com and Nexo.io.

On this edition of The Breakdown weekly recap, NLW looks at what was an absolutely action-packed holiday week, discussing:

Bitcoin’s price action
The Dow’s 30,000 psychological milestone
Eth 2.0 cleared for Beacon chain launch
The implications of Janet Yellen’s nomination for Treasury secretary

This week on The Breakdown:

Monday | A Bitcoin Shortage? PayPal and Cash App Buying More Than 100% of New Supply
Tuesday | Lyn Alden on Money Printing, Bitcoin and the End of an 80-Year Debt Cycle
Wednesday | The Most Bullish Bitcoin Arguments for Your Thanksgiving Table
Thursday | Schmuck Insurance
Friday | ENCORE: Luke Gromen on the History and (Declining) Future of the Global Dollar System

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BREAKDOWN: ENCORE – Luke Gromen on the History and (Declining) Future of the Global Dollar System Nov 27, 2020

Show notes

As some start to wonder about a post-Bretton Woods economic system, macro analyst Luke Gromen explains how that post-World War II system came to be.

This episode is sponsored by Crypto.com and Nexo.io.

One of the most significant macroeconomic questions facing the world is what the future of the global reserve system, dominated for the last 80 years by the U.S. dollar, holds.

Today’s episode is a replay of NLW’s epic conversation with macro analyst Luke Gromen from April 2020. In it, Luke discusses the entire history of that U.S. dollar system, including:

Bretton Woods and why the world went on a USD-based system rather than John Maynard Keynes’ idea for a non-sovereign “bancor” world reserve currency
The move to the petrodollar in the 1970s
The financialization of commodities that started in the 1980s
The monetary policy vacuum after the Cold War ended
How a shift in executive compensation rules led to many of today’s problems with Wall Street
The export of Treasury bills as a business model
The economic fallout of 2008 globally and domestically
The end of Treasury bill buying in 2014
Why the Federal Reserve is the only sugar daddy left

Find our guest online:

Website: fftt-llc.com

Twitter: @LukeGromen

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BREAKDOWN: Schmuck Insurance Nov 26, 2020

Show notes

A reading of one of the most enduring early investor arguments for bitcoin.

This episode is sponsored by Crypto.com and Nexo.io.

When NLW asked Crypto Twitter for recommendations of the best way to convince friends and family about bitcoin and crypto, one of the ideas was to review old articles that have stood the test of time.

With that in mind, NLW today reads Chamath Palihapitiya’s May 2013 piece for Bloomberg, “Why I Invested In Bitcoin.”

Even among prescient early pieces, this one is particularly salient.

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BREAKDOWN: The Most Bullish Bitcoin Arguments for Your Thanksgiving Table Nov 25, 2020

Show notes

This year, come prepared to explain the asset that has everyone from famous financiers to political dissidents talking about a money revolution.

This episode is sponsored by Crypto.com and Nexo.io.

Today’s Breakdown is a prep kit for the inevitable conversations about bitcoin as friends and family sit down at the Thanksgiving table this year.

NLW discusses arguments ranging from price action to who is buying to why they’re buying to good old-fashioned supply and demand. He leaves with one big conclusion:

If there was ever a year to discuss bitcoin, this is it.

And don’t forget to check out casebitcoin.com.

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BREAKDOWN: Lyn Alden on Money Printing, Bitcoin and the End of an 80-Year Debt Cycle Nov 24, 2020

Show notes

One of the sharpest analysts in macroeconomics looks at how monetary and fiscal policy are likely to change in the coming years.

This episode is sponsored by Crypto.com and Nexo.io.

Today’s guest is Lyn Alden. Lyn is the founder of Lyn Alden Investment Strategy and one of today’s best-known and most-respected macro analysts. In this conversation, she and NLW discuss:

Anti-deflation vs. inflation
Why money printing is nonpartisan
Why we’re headed for deeper MMT experiments
How she increased her conviction around Bitcoin (her journey in memes)
Why the beginnings of a new, post-Bretton Woods era are starting to show

Find our guest online:

Twitter: @LynAldenContact

Website: lynalden.com

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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