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A new initiative from Jack Dorsey will be a full business unit inside the company.
This episode is sponsored by NYDIG.
Today on the Brief:
Our main discussion:
Square has announced a new initiative, titled “TBD,” that CEO Jack Dorsey describes as “focused on building an open developer platform with the sole goal of making it easy to create non-custodial, permissionless and decentralized financial services.” Dorsey intends the platform to be developed completely transparently: “open road map, open development and open source.”
In this episode, NLW puts the new initiative in the context of Square’s long-term relationship with Bitcoin, explains why it’s different from the company’s Square Crypto efforts and analyzes how different parts of the community are reacting to the news.
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NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.
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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 “Razor Red” by Sam Barsh. Image credit: Eva Marie Uzcategui/Bloomberg/Getty Images, modified by CoinDesk.
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by Susan Hampton
Prices rise as inflation concerns grow. Bank of America, Goldman Sachs, JPMorgan, and Wells Fargo report earnings. Delta reports its first profit since 2019. And McCormick hires a taco czar. Motley Fool analysts Andy Cross and Jason Moser discuss those stories and weigh in on the latest from Disney, Netflix, Pepsi, and UnitedHealthcare. Plus, our analysts share two stocks on their radar: AppHarvest and Intuitive Surgical. And we revisit our interview with NYU Professor of Psychology Emily Balcetis, author of Clearer, Closer, Better: How Successful People See the World.
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John McAfee lived a life of extremes, from working as a tech entrepreneur to becoming an international fugitive, Presidential candidate and more. As time went on, he became increasingly paranoid, certain that powerful forces were out to get him. And on June 23rd, he was found dead in a Spanish jail cell. The authorities concluded he committed suicide. Numerous people disagree with this conclusion -- including John McAfee himself, who warned people numerous times that he would never take his own life.
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array(3) { [0]=> string(150) "https://www.omnycontent.com/d/programs/e73c998e-6e60-432f-8610-ae210140c5b1/2e824128-fbd5-4c9e-9a57-ae2f0056b0c4/image.jpg?t=1749831085&size=Large" [1]=> string(10) "image/jpeg" [2]=> int(0) }This year, El Salvador President Nayib Bukele made his country the first in the world to embrace bitcoin as legal tender. That means that come September, Salvadorans will be able to pay bills and taxes in bitcoin and that all businesses will be required to accept the digital currency — from McDonald's to the fruit vendor on the corner.
Today, L.A. Times Latin America correspondent Kate Linthicum explains how El Salvador got into the cryptocurrency game.
More reading:
How a California surfer helped bring bitcoin to El Salvador
El Salvador makes bitcoin legal tender
A look at El Salvador’s meme-loving, press-hating autocratic president
Some COVID restrictions return as the Delta variant spreads. Flooding death toll rises in Europe. Meet the world's youngest astronaut. CBS News Correspondent Steve Kathan has today's World News Roundup.
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Bank bosses are jubilant: revenues were down but profits way up. We look at the pandemic-driven reasons behind the windfall, and ask how long their influence may last. A thicket of conflicting laws is complicating Jamaica’s plans to enter the wider medical-marijuana market. And our critic reports from a slimmed-down Cannes film festival.
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