A daily analysis of macroeconomics, bitcoin, geopolitics and big picture power shifts, hosted by Nathaniel Whittemore @nlw. The Breakdown is part of Blockworks.
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
652
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
653
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
654
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
655
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
656
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
657
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
658
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
659
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
660
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
661
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
662
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
663
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
664
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
665
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
666
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
667
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
668
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
669
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
670
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
671
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
672
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
673
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
674
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
675
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,...