The Breakdown

Latest Episodes:

Why Is September So Bad for Bitcoin? Sep 21, 2021

Show notes

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 been
Some anecdotal explanations for why it’s so
Why September is the worst month for stocks historically
The role of summer vacation and mutual fund fiscal years in that historic weakness
The latest regulatory FUD around crypto and why stablecoins are the next big target

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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: jokerpro/iStock/Getty Images, modified by CoinDesk.

Why a CBDC Would Make the Fed’s Job Miserable Sep 19, 2021

Show notes

A reading of JP Koning’s essay for Coindesk “Are Central Bankers Ready for Payments Theater?”

“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.

Securities Regulators in Texas, New Jersey and Alabama Go After Celsius Sep 19, 2021

Show notes

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 Laos
A wrap-up on the OpenSea NFT front running scandal

“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.

Is China’s Evergrande Crisis a Global Systemic Risk? Sep 18, 2021

Show notes

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.

“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.

Laos Does About-Face on Bitcoin to Attract China’s Mining-Ban Refugees Sep 17, 2021

Show notes

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 refugees
CZ’s latest in Binance’s whistlestop tour to change regulators’ perception of the company
Europe’s upcoming ECB trial
Coinbase’s derivative ambitions
And a big raise for Avalanche

Free Markets vs. Investor Protections: The Latest from Warren and Gensler on Crypto Sep 16, 2021

Show notes

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.

“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.

What Billions in Crypto Fund Raises Tells Us About the State of Markets Sep 15, 2021

Show notes

On this episode of “The Breakdown,” NLW looks at an array of recent fund announcements, including:

Dan Tapiero and 10T’s $750 million
Pantera 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 firm
Bain Capital Ventures launching a dedicated crypto fund

What does it say about the state of the crypto markets? Listen to find out.

“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.

Of Course Walmart Isn't Accepting Litecoin Sep 14, 2021

Show notes

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 spread
The context clues in the release that should have aroused suspicion
The smoking guns of fakeness in the release that REALLY should have aroused suspicion
Why the scam was designed to target press
Why the ensuing pump is likely to draw regulatory ire.

“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.

The Timeline for Central Bank Digital Currencies Is Accelerating Sep 12, 2021

Show notes

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.”

“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: Hiroshi Watanabe/DigitalVision/Getty Images, modified by CoinDesk.

Dan Tapiero: Crypto Is the First Truly Global Macro Investment Opportunity of All Time Sep 11, 2021

Show notes

Dan Tapiero, founder of 10T, returns to “The Breakdown” to discuss:

Investing $750 million into growth equity for digital asset ecosystem startups
The number of crypto unicorns growing from 20 to 70 in a year
How institutional investor questions have changed over the last 12 months
How 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

“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.

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