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The industry is down bad, but is that more about the Federal Reserve or crypto institutional failures?
This episode is sponsored by Nexo.io, NEAR and FTX US.
The crypto market just went through one of its most turbulent and brutal weekends in recent memory. In today’s episode, NLW looks at how much the broader downturn as well as these more recent moves are being driven by the crypto specific factors such as Terra, Celsius and Three Arrows Capital, versus being just part of a larger macroeconomic re-alignment.
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“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsors is “Catnip” by Famous Cats and “I Don't Know How To Explain It” by Aaron Sprinkle. Image credit: Leonid studio/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.
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The guys head to the bay area with cohost Melissa Murray and discuss the January 6th committee exposing Trump’s pressure campaign and pardon list. Then Congresswoman Barbara Lee joins to talk about the hearings, Juneteenth, and reproductive rights. California Assemblywoman Buffy Wicks then tells us how the state is preparing to be an abortion sanctuary. And the New York Times' Mike Issac tells us about Elon Musk’s first sit-down with Twitter’s employees.
By Monica Sok
Google employee Blake Lemoine is on leave after going public with his belief that the company's "Language Models for Dialog Applications," or LaMDA, is alive. A high-ranking member of Mexican law enforcement has been sanctioned for his long-standing, deeply illegal arrangement with a drug cartel. Over in Utah, a bank has been flagged for issuing 189% interest loans through auto repair shops. All this and more in this week's Strange News.
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