Blockchain is a National Security Issue, According to Trump Admin

The Breakdown

Blockworks

Investing, Business

4.8 • 786 Ratings

🗓️ 17 October 2020

⏱️ 11 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

On this edition of The Breakdown weekly recap, NLW looks at: Growth in the institutional investment space in crypto A new 10,000 BTC treasury announcement Reports from the Bank for International Settlements, G20, WEF, IMF and more around central bank digital currencies A National Security Council report labeling distributed ledger technology key for national security

Transcript

Click on a timestamp to play from that location

0:00.0	Welcome back to The Breakdown with me, NLW.
0:09.2	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:15.2	The breakdown is sponsored by crypto.com, nexo.io, and elliptic, and produced and distributed by CoinDes.
0:23.0	What's going on, guys? It is Saturday, October 17th, and that means it's time for the weekly
0:29.1	recap. I think, looking back over everything, the theme of this week was a real bigification.
0:37.4	So what does that mean? Well, let's first talk about
0:40.4	news that we got that was both an advancement of the Bitcoin Treasury story, as well as gave
0:46.3	us new information about the state of play with institutional investors in Bitcoin. Stone Ridge
0:52.0	Asset Management announced $50 million in new funding for the New York
0:57.0	Digital Investments Group, NYDig, which brings its total to $100 million. Now, most people
1:03.3	haven't really heard much about this organization, but we found out that they have over a billion
1:08.6	dollars worth of crypto custody, and basically we discover
1:12.1	that there was this new significant size player in the institutional investment space that maybe
1:17.4	actually makes us think that the institutional investment space around Bitcoin is even bigger than we
1:22.3	thought. As part of the announcement, we also learned that NYDig's parent company Stone Ridge Asset Management,
1:29.2	which is a $10 billion asset manager, had $10,000 Bitcoin worth about $115 million as their primary
1:37.8	Treasury Reserve asset.
1:40.5	Adding onto this, we also got the latest figures from another giant in the institutional
1:45.7	investment space, Grayscale, who started the week announcing that their Ethereum trust,
1:52.1	their ETH trust, had become an SEC reporting company, which means basically that they will
1:57.6	be much more open about certain types of financials, reporting them regularly
2:01.2	to the SEC. It increases trust in a way that many investors like, and it could open the floodgates
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Blockworks, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Blockworks and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.