BREAKDOWN: A New SEC Chair Who Actually Understands Bitcoin and Crypto?
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 13 January 2021
⏱️ 14 minutes
🧾️ Download transcript
Summary
After his most recent stint teaching about blockchain at MIT, former CFTC head Gary Gensler is reportedly the next SEC Chair.
This episode is sponsored by Nexo.io.
Today on the Brief:
- Visa drops $5.3B Plaid acquisition after DOJ antitrust suit
- ECB President Christine Lagarde discusses bitcoin and digital euro
- Acting OCC chief Brian Brooks to step down this week
Our main discussion: Gary Gensler rumored to be the new SEC Chair. In this episode, NLW discusses:
- Gensler’s background at Goldman, CFTC and MIT
- Gensler’s MIT course
- Previous statements on Bitcoin, Ethereum, and Ripple
- The crypto communities reaction to Gensler at the SEC
-
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Transcript
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| 0:00.0 | Gary Gensler is a partner we can work with. He's going to try to bring the space in line with |
| 0:05.3 | the regulatory mainstream. But he also appreciates what makes it different, where the opportunities |
| 0:10.5 | lie, and he's years and years ahead in his understanding from almost any regulator we've seen |
| 0:15.6 | in the difference between Bitcoin and other parts of this space. You have to see this as about as positive an appointment |
| 0:22.5 | as we could have in a really key position for the regulatory battles to come. |
| 0:28.3 | Welcome back to The Breakdown with me, NLW. It's a daily podcast on macro, Bitcoin, and the |
| 0:35.4 | Big Picture Power Shifts remaking our world. |
| 0:44.3 | The breakdown is sponsored by nexo.io and produced and distributed by CoinDesk. |
| 0:52.0 | What's going on, guys? It is Wednesday, January 13th, and today we have a very regulatory breakdown with our main discussion about a new SEC chair who |
| 0:57.3 | actually understands Bitcoin and crypto. |
| 1:01.2 | First up, however, let's do the brief. |
| 1:04.0 | Kicking off the brief today, Visa has dropped its planned $5.3 billion acquisition of Plaid. Plaid is a key piece of Silicon Valley FinTech |
| 1:14.0 | infrastructure that builds a bridge between traditional bank accounts and digital platforms. |
| 1:18.7 | They have financial services APIs that make it really easy for developers to integrate |
| 1:23.1 | requests for banking information. In addition to its work in the traditional finance space, |
| 1:28.3 | Plaid is used by a huge number of companies in the crypto space, including Coinbase, Dharma, |
| 1:32.6 | teller finance, and more. Their head of UK is actually a former Google Wallet builder and has a |
| 1:37.6 | particular interest in Defi. In January 2020, news broke that Visa would be acquiring the |
| 1:43.7 | company for $5.3 billion, which |
| 1:46.1 | is about double the $2.65 billion valuation in the company's last private round that |
| 1:51.5 | included Visa and MasterCard, as well as some storied Silicon Valley firms. |
| 1:56.4 | The acquisition, it turns out, was not to be. |
... |
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