The Breakdown

A daily analysis of macroeconomics, bitcoin, geopolitics and big picture power shifts, hosted by Nathaniel Whittemore @nlw. The Breakdown is part of Blockworks.

Business
Investing
526
Is Credit Suisse the Next Banking Domino?
Following the failure of Silicon Valley Bank and Signature, markets are holding their breath for more trouble in the banking sector. Wednesday morning, comments from one of the biggest investors in Credit Suisse sent that company’s stock tumbling....
15 min
527
The Banking System Broke; Will That Force a Fed...
At this point, markets are racing to figure out what they believe the recent spate of U.S. bank failures means for monetary policy. Will the Federal Reserve stay the course? Will it be forced to pivot on raising interest rates? NLW brings you the...
16 min
528
Even Barney Frank Thinks Signature Was Shut Dow...
On Sunday, as government authorities announced that Silicon Valley Bank depositors would be protected, they added that the New York Department of Financial Services would be shuttering Signature Bank. Little explanation was given but some, including...
20 min
529
We Pushed Semiconductors Offshore; Are We Doing...
On this week’s Long Reads Sunday, NLW reads: by Sheila Warren by TuongVy Le  - Commissioner Hester Peirce and Commissioner Mark Uyeda Enjoying this content?   SUBSCRIBE to the Podcast Apple:  Spotify: Google:   Join the...
16 min
530
The Government Game Plan: Call Ether a Security...
What a week. On this edition of the “Weekly Recap,” NLW updates on the Silicon Valley Bank situation, discusses the New York Attorney General’s lawsuit against KuCoin that claims ether is a security and looks at the Biden Administration’s plan...
16 min
531
The 2nd Biggest Bank Failure In American Histor...
Just days after Silvergate announced an orderly winding down, Silicon Valley Bank has come to a very disorderly end. Today, California regulators stepped in to put the bank in FDIC receivership. NLW explains how we got here and what it might...
17 min
532
The Real Reasons Silvergate Collapsed
Beleaguered Silvergate Bank has announced that it will be winding down. NLW examines whether the turn of events is due to banking crypto companies, specific business decisions made by Silvergate or a coordinated political campaign against the...
18 min
533
Fed’s Powell Brings the Dog and Pony Show to DC...
In today's episode, NLW looks at the macro as Federal Reserve Chair Jerome Powell discusses monetary policy this week before Senate and House of Representatives banking committees. The markets are betting on a 50 basis point rate hike at the next...
15 min
534
Fireworks in the Grayscale Bitcoin ETF Lawsuit ...
Last year, Grayscale, a CoinDesk sister company, filed suit against the Securities and Exchange Commission after its proposal to convert the Grayscale Bitcoin Trust into a bitcoin spot exchange-traded fund was rejected. Today the hearing began, and...
18 min
535
Are the WSJ Articles on Binance and Tether ‘Tri...
  Today, NLW discusses recent Wall Street Journal articles about Tether using fraudulent bank accounts to access banking services and private chat threads from former Binance employees arguing that Binance and Binance.US were closely aligned....
13 min
536
Crypto’s Center of Gravity Is Shifting Away fro...
On this “Long Reads Sunday,” NLW reads: - Noelle Acheson - Emily Parker  - “The Breakdown” is written, produced and narrated by Nathaniel Whittemore aka NLW, with editing by and research by Scott Hill. Jared Schwartz is our...
20 min
537
The Hole on the FTX Balance Sheet Remains Gaping
In this week's “Weekly Recap,” NLW looks at the latest from the FTX bankruptcy estate and stirrings that Democrats in Congress aren't fond of SEC Chair Gary Gensler's regulatory methods. Enjoying this content?   SUBSCRIBE to the Podcast...
16 min
538
With Congress Impotent, Courts Are the Only Opt...
Today on “The Breakdown,” NLW discusses Silvergate, a scathing open letter from three U.S. senators to Binance and whether courts can stop an overreaching Securities and Exchange Commission. Enjoying this content?   SUBSCRIBE to the Podcast...
15 min
539
What the Silvergate Death Spiral Means for the ...
  In today's episode, NLW discusses Silvergate Bank's painful collapse. In order to understand the industry's banking resources, he examines where the bank came from, why it became important to the industry and how it faltered. Enjoying this...
17 min
540
The Vise Tightens on SBF as Former FTX Engineer...
The latest big news, in the wake of FTX's collapse: Nishad Singh, former head of engineering, has pleaded guilty to six charges as well as a “no contest” to civil charges from the Securities and Exchange Commission and Commodity Futures Trading...
14 min
541
NFT’s Biggest Company Is Coming to Bitcoin Ordi...
In today’s episode, aside from fist-shaking at SEC Chairman Gary Gensler, NLW discusses an announcement from Bored Ape Yacht Club creator, Yuga Labs, that it is creating a generative art collection for Bitcoin with Ordinal inscriptions. As part of...
16 min
542
Gary Gensler, Bitcoin and the Bad-Faith SEC
Ah, the industry was once so hopeful about Gary Gensler’s appointment to the Securities and Exchange Commission. Yet, as the years have progressed he has become the industry's most aggressive antagonist. In the wake of increasing congressional...
16 min
543
Central Bankers Triumphantly Declare Fiat to Ha...
Today on “Long Reads Sunday”:   Travis Kling on Cosmo Crixter – Brendan Malone – Enjoying this content?   SUBSCRIBE to the Podcast Apple:  Spotify: Google:   Join the discussion:   Follow on Twitter: NLW: ...
14 min
544
Bank Regulators Say ‘No Operation Choke Point 2...
Apparently all our angry howling worked. This week, the Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation and the Federal Reserve Board of Governors, while nominally speaking about the liquidity risks of crypto banking,...
15 min
545
Class-Action Lawsuit Accusing Digital Basketbal...
On today’s episode, NLW covers the ruling of a federal judge in New York allowing a class-action lawsuit to proceed against Dapper Labs for allegedly offering unregistered securities. He also covers a new slate of charges against Sam Bankman-Fried,...
14 min
546
5 Takeaways From Coinbase's 'Base' Layer 2 Chai...
In this episode, NLW examines Coinbase's announcement of its new layer 2 chain, paying particular attention to: Exchanges moving from layer 1s to layer 2s No token  Wall Street not getting it  Developer competition On-chain...
17 min
547
Is Custodia a ‘Sacrificial Lamb’ to the Fed’s W...
In a recent tweet, Kraken co-founder Jesse Powell suggested U.S. regulators like it when bad actors beat good actors because it takes down the crypto industry and the bad actors can be jailed later. In this episode, NLW explores the issue in the...
16 min
548
Narrative Watch: Hong Kong Nudges Towards Legal...
Hong Kong's securities regulator published proposed rules on Monday for virtual asset trading platforms, fueling the narrative that the next bull market will start in Asia. NLW explores whether the moves are connected to broader changes in the Chinese...
17 min
549
How to Fight Back Against Rogue Regulators
Featured on this week’s “Long Reads Sunday”:    “Regulating Crypto by Enforcement and Stealth Will Set the US Back” – Michael Casey     “The Right Analogy for Crypto Markets” – Nic Carter     “How to...
19 min
550
Why the Newly Proposed Custody Role Could Repre...
On this edition of the “Weekly Recap,” NLW looks at the newly proposed custody rule from the Securities and Exchange Commission. While the rule has broader implications other than crypto, many in the crypto industry are concerned that Chairman...
17 min