Month: October 2022

This episode is sponsored by ZenGo.

The most valuable crypto stories for Friday, Oct. 14, 2022.

 The “Hash” hosts discuss the bitcoin services company NYDIG laying off around 100 people, according to CoinDesk sources. The firm has cut approximately 30% of its staff in the past several weeks as the crypto market has soured. Crypto winter is also taking a toll on companies that man the virtual mines, which has led to cryptocurrency exchange Binance starting a lending facility for bitcoin (BTC) miners. Plus, Tether, a stablecoin issuer, announced it no longer holds commercial paper or unsecured debt to specific company holdings. And also, another hot topic, Binance starts a $500M support fund for Bitcoin mining. And Also, an interview with Sandy Carter from Unstoppable Domains. 

See also: 

Crypto Trading Firm NYDIG Lays Off About 33% of Staff

US Judge Removes Legal Firm Roche Freedman From Class Action Against Tether, Bitfinex: Report

Stablecoin Issuer Tether Cuts Commercial Paper Holdings to Zero

Binance Pool Starts $500 Million Fund to Support Bitcoin Mining

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This episode has been edited by Michele Musso. Our executive producer is Jared Schwartz. Our theme song is “Neon Beach.”

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That’s the argument of acting Comptroller of the Currency Michael Hsu.

This episode is sponsored by Nexo.io, Circle and FTX US.

On today’s episode, NLW looks at the latest chatter around the crypto industry, including:

• Jamie Dimon’s newest negative comments on crypto
• Acting OCC Hsu’s comments that crypto is taking up too much mental bandwidth among regulators 
• SEC Chair Gary Gensler’s comments about the role of the CFTC in regulating crypto

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I.D.E.A.S. 2022 by CoinDesk facilitates capital flow and market growth by connecting the digital economy with traditional finance through the presenter’s mainstage, capital allocation meeting rooms and sponsor expo floor. Use code BREAKDOWN20 for 20% off the General Pass. Learn more and register at coindesk.com/ideas.

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“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsors today is “The Now” by Aaron Sprinkle and “The Life We Had” by Moments. Image credit: OsakaWayne Studios/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.

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This episode is sponsored by Circle and Near.

Over the past year, Michael and Sheila have talked quite a bit on this show about the quickly evolving crypto policy environment. A big theme in all of that has been the intersection – and quite often the clash – between the industry’s breakneck pace of innovation and regulation. As the industry grows, governments around the world are looking to get up to speed, and increasingly their actions have ramifications in the sector. 

One regulatory body that’s increasingly engaging with the crypto community is the Commodity Futures Trading Commission. The CFTC is an independent U.S. agency that regulates the $200+ Trillion derivatives market including futures contracts, options, and swaps.

Since 1974 its mission has been to promote the integrity, resilience, and vibrancy of the U.S. derivatives markets through sound regulation. Now, based on the proposals of some legislative initiatives, it could be poised to take a leading role in the regulation of cryptocurrencies and digital assets in the U.S. – something many in the community are supporting, perhaps in the hope that it will reduce the sway of the seemingly less-friendly Securities and Exchange Commission.

To help us understand what all this means, hosts Michael Casey and Sheila Warren speak with former CFTC commissioner Dawn Stump on this 100th episode of “Money Reimagined.”

Dawn Stump became a commissioner in 2017 following a presidential appointment and Senate confirmation. 

As one of five CFTC commissioners, she helped to shape the priorities of the agency while overseeing policy direction and internal planning. In particular, she was instrumental in negotiating the reform of derivatives regulations contained in the Dodd-Frank Act and in efforts to conduct oversight of commodity and financial derivatives under the jurisdiction of the CFTC. 

This is a must-listen to better understand the crypto policy environment. As Dawn put it, “The impetus for regulation should not be a crisis; the impetus for regulation should be an opportunity.”

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This episode was produced and edited by Michele Musso with announcements by Adam B. Levine and our executive producer Jared Schwartz. Our theme song is “Shepard.”

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