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
626
The USA’s Crypto Loss is Hong Kong and China’s ...
It’s no secret that the US is pushing banks away from crypto companies. What’s surprising is that Chinese state owned banks are apparently actively recruiting crypto customers in Hong Kong – seemingly in response to growing US anti-crypto...
15 min
627
Elizabeth Warren has Declared War on Crypto
“Then they fight you” but for real this time. Elizabeth Warren is running for re-election to the Senate, and she’s running on the platform of being a crypto antagonist. NLW explores the reactions from the crypto community.  Enjoying this...
16 min
628
The RESTRICT Act Isn’t About Banning TikTok, It...
The movement to ban TikTok in the U.S. is growing. The recently introduced RESTRICT Act in the U.S. Congress is nominally about that, but some are concerned it would significantly expand government powers over the internet.  Enjoying this...
18 min
629
The Evidence for Operation Choke Point 2.0, Wit...
On today’s episode, NLW is joined by Castle Island Ventures’ Nic Carter. Nic was the first to identify the concerted effort to deplatform crypto from the banking system as “Operation Choke Point 2.0.” In their conversation, Nic discusses the...
49 min
630
The CFTC Sues Binance, but Is It Regulatory Tur...
The Commodity Futures Trading Commission (CFTC) filed a lawsuit against Binance on Monday, alleging seven different charges related to derivatives exchange registration. In this episode, NLW explores the charges and to what extent they reflect not...
20 min
631
Are Deutsche Bank and Charles Schwab Actually i...
Ever since the failure of Silicon Valley Bank, markets have been waiting with bated breath for another shoe to drop. Coming into the weekend, it looked like Deutsche Bank and Charles Schwab were the most wobbly. NLW explores whether there is actually...
15 min
632
Why We’ll Remember This Banking Crisis as a Tur...
On this week’s “Long Reads Sunday,” NLW reads: “” - Michael J. Casey  “” - George Kaloudis  Enjoying this content?   SUBSCRIBE to the Podcast Apple:  Spotify: Google:   Join the discussion:   Follow on...
18 min
633
Safe Haven From Banks? Bitcoin’s New Narrative ...
On this edition of the “Weekly Recap,” NLW combines two previous YouTube shows focused on Balaji’s $1 million bitcoin bet and the emergence of the mainstream narrative of bitcoin as a safe haven from banks. Enjoying this content?  ...
30 min
634
The Fed Hikes, Credit Tightens and Commercial R...
NLW catches up on the macro in the wake of the recent Federal Open Market Committee meeting and interest rate decision. The stakes were higher going into this meeting thanks to the banking crisis. As the Federal Reserve stays determined to keep...
16 min
635
The SEC Finally Picks a Fight With Someone Who ...
Gary Gensler just doesn't stop. This week we’ve seen actions against Justin Sun, SushiSwap and now Coinbase. NLW covers the latest Wells Notice from the SEC and why Coinbase might prove a tougher opponent than what Gensler is used to.  “The...
17 min
636
The Fed's Balance Sheet Jumped $300B Last Week....
NLW is joined by Ram Ahluwalia, CEO of Lumida Wealth Management. In this conversation, they discuss: The fall of Credit Suisse The Federal Reserve’s new Bank Term Funding Program and whether it’s inflationary  Why this crisis is...
62 min
637
The FDIC is Exploring How to Ensure All US Bank...
Just a week after backstopping Silicon Valley Bank and Signature, the FDIC is reportedly exploring how they could feasibly cover all US deposits. NLW explores the implications.   Enjoying this content?   SUBSCRIBE to the Podcast...
15 min
638
Was UBS Buying Credit Suisse Just ‘Soft Nationa...
  Due to its global systemic importance, Credit Suisse appeared to be in serious trouble last week. In the past weekend, Swiss authorities, along with their counterparts in the US, EU, and UK, hammered out a deal that nobody is really happy with,...
15 min
639
Bitcoin Was Created for Times Like These
On this week’s Long Reads Sunday, NLW reads: “” By Daniel Kuhn  “” by Joe Orsini “” by Tatianna Koffman   Enjoying this content?   SUBSCRIBE to the Podcast Apple:  Spotify: Google:   Join the discussion: ...
16 min
640
A Real-Time History of the Crypto Banking Crisi...
NLW is joined by Austin Campbell, Adjunct Professor at Columbia University and former banker and stablecoin operator, to discuss the recent crypto banking crisis. They discuss: Why interest rate risk, not crypto troubles, was the source of the...
59 min
641
The 5 Key Bitcoin Building Themes, With Wolf Li...
Kelly Brewster is the CEO of Wolf, a new Lightning and Bitcoin startup accelerator in New York City. In this conversation, he and NLW discuss five big themes they’re seeing among Bitcoin builders, including Bitcoin DeFi, Lightning Network...
32 min
642
Apparently, U.S. Regulated Banks Are Riskier Th...
Stablecoins have long been seen by U.S. policymakers as risky and a potential threat to U.S. financial stability. How ironic, then, that it was the failure of a U.S.-regulated bank in SVB that caused peril to USDC last weekend. NLW explains how USDC...
16 min
643
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
644
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
645
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
646
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
647
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
648
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
649
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
650
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