Author: CoinDesk

Attorney Preston Byrne joins Ben Schiller to consider the continuing fallout from the WallStreetBets controversy.

This episode is sponsored by Nexo.io.

Preston Byrne is a partner in Anderson Kill's Technology, Media and Distributed Systems Group, and a CoinDesk columnist. 

He joins CoinDesk Features Editor Ben Schiller to discuss his recent op-ed about GameStop, Robinhood and the rise of online mobs. 

See the article here:

‘The Squeezening’: How the GameStop Backlash Will Curtail Freedom

Schiller spoke to Byrne about:

• The rise of online mobs from GameStop to Capitol Hill and how the internet is impacting real life in an increasingly tangible way
• What policymakers can do to prevent mobs doing damage to decent companies
• Why it’s likely the WallStreetBets Reddit contained some pump-and-dumpers
• How the regulatory reaction to the WallStreetBets could impact cryptocurrencies 
• How the backlash from “elites” impacted by GameStop could harm free speech
• Why Preston Byrne supports marmots (which are like squirrels or groundhogs) 

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A recap of a swath of news about corporate players coming into the crypto space, and why it could change the landscape of regulation.

This episode is sponsored by Nexo.io.

On this edition of the weekly recap, NLW breaks down the entrance of corporates into the crypto space this week, including:

• Tesla
• BNY Mellon
• Mastercard
• Twitter
• Amazon

He also argues that more corporate actors investing in bitcoin and crypto makes it significantly less likely the U.S. government would look towards severe regulation.

This week on The Breakdown:

Monday | Elon Musk Buys Bitcoin: Everything You Need to Know About Tesla’s $1.5B Purchase

Tuesday | Will Apple Be the Next Fortune 500 to Buy Bitcoin?

Wednesday | How Nigeria and India Are Dealing With Crypto Bans

Thursday | Gradually, Then Suddenly: Mastercard, BNY Mellon, Amazon, Twitter Poised to Join the Bitcoin Party

Friday | Why Jay-Z’s Bitcoin Trust Matters

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Hip-hop mogul Sean Carter and Jack Dorsey are putting 500 BTC in a blind trust. 

This episode is sponsored by Nexo.io.

On today’s episode, NLW breaks down:

• The Miami Commissioners vote to start educating people about bitcoin and crypto
• The Nigerian Senate debate following the Central Bank of Nigeria’s recent crypto ban
• Why Jay-Z and Jack Dorsey’s bitcoin trust matters

NLW argues the relationship between the crypto industry and celebrities is very different this time around compared to the previous ICO-led bull market. 

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In the wake of Tesla’s big announcement on Monday, a wave of corporate engagement with crypto emerges.

This episode is sponsored by Nexo.io.

On today’s episode of The Breakdown, NLW looks at a slew of news from corporates getting into the bitcoin and crypto space, including:

• Twitter CFO exploring bitcoin treasury holdings and payments to employees and vendors
• Mastercard announcing crypto coming to payment rails in 2021
• Amazon revealing its digital currency plans in a series of job posts
• BNY Mellon, the world’s largest asset custodian, opening new digital asset business 
• Why Christine Lagarde says central banks won’t buy bitcoin anytime soon. 

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Two of the world’s ten most populous countries have or are considering crypto bans: Here’s what it means.

This episode is sponsored by Nexo.io.

On today’s episode, NLW examines two governments' attempts to restrict how their citizens interact with crypto. He breaks down:

• India’s history with crypto bans
• India’s history with demonetization and financial control
• What we know about a new bill that would ban crypto and provide a framework for an Indian government digital currency
• Recent action by the Central Bank of Nigeria to block banks from interacting with crypto
• Why the CBN action might be related to the politics of the #EndSars movement

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A new analyst report from the Royal Bank of Canada thinks that with a small investment Apple could disrupt the crypto exchange space and pay for it by buying bitcoin.

This episode is sponsored by Nexo.io.

Today on the Brief:

• A shifting inflation narrative
• Reddit raises $250M and has a $6B valuation 
• Castle Island Ventures announces $50M fund II 

Our main discussion: Might Apple by the next company to dive into bitcoin? 

In the wake of Tesla’s surprise $1.5 billion bitcoin purchase announcement, many are wondering which Fortune 500 will be next. 

According to a new report from the Royal Bank of Canada - the country’s largest bank with more than C$800 billion in assets - the best candidate may be Apple. 

In this episode, NLW breaks down:

• Why the RBC thinks Apple should build a crypto exchange
• How a BTC treasury purchase could fund it
• Why the crypto exchange space and the bitcoin treasury movement are both white-hot topics of discussion right now

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The implications of Elon Musk’s purchase on bitcoin’s climate narrative, other Fortune 500 treasury management strategies and more.

This episode is sponsored by Nexo.io.

Elon Musk’s Tesla (TSLA) has purchased $1.5 billion in bitcoin as a treasury reserve asset. Additionally, the company will soon be allowing people to pay for Teslas with bitcoin. 

In this episode, NLW breaks down:

• How Elon got to this moment, including his exchanges with MicroStrategy’s (MSTR) Michael Saylor
• What critics of the Tesla community and the bitcoin community are likely to say 
• How this de-risks bitcoin purchases for other Fortune 500 companies 
• How it relates to Elon’s doge memeing 
• Why this is likely to have a significant impact on bitcoin’s narrative regarding climate change and energy use 
• Why Cathie Wood is laughing all the way to the bank. 

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A reading of Ben Hunt’s latest essay for Epsilon Theory. 

This episode is sponsored by Nexo.io.

On this edition of Long Reads Sunday, NLW reads Ben Hunt’s latest essay “Hunger Games” about the lies of Wall Street and how the GameStop episode has exposed them for all to see. 

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Wyoming’s Cynthia Lummis – the first U.S. senator to publicly hold bitcoin – has been appointed to the key financial regulatory committee.

This episode is sponsored by Nexo.io.

On this edition of The Breakdown’s weekly recap, NLW discusses:

• The state of WallStreetBets
• The Bitcoin for Corporations event
• ETH all-time highs in advance of CME ETH futures
• Tether
• Cynthia Lummis on the Senate Banking Committee

This week on The Breakdown:

Monday | Have the Hedge Funds Infiltrated Reddit’s WallStreetBets?

Tuesday | Is This the End of the Reddit Retail Investor Dream?

Wednesday | Michael Saylor’s Mission to Get 1,400 Corporations Into Bitcoin

Thursday | What We Learned About PayPal’s Crypto Strategy This Week

Friday | Travis Kling: In the Fed Era, There’s No Such Thing as Market Fundamentals

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The Ikigai Asset Management investor discusses WallStreetBets, institutional investors and recent bitcoin critiques. 

This episode is sponsored by Nexo.io.

On today’s episode, NLW is joined by Travis Kling, co-founder and chief investment officer of Ikigai Asset Management. They discuss:

• GameStop, WallStreetBets and financial populism
• Whether regulatory hearings will actually address any issues around retail investors 
• How WallStreetBets relates to bitcoin
• The rise of institutional investors 
• The end of career risk around bitcoin for investment professionals
• Why recent bitcoin FUD has been disingenuous
• How investors can price risk in bitcoin 
• Where DeFi fits for institutional investors

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