BREAKDOWN: Are You Really Surprised Elizabeth Warren Doesn't Get Bitcoin?
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 3 March 2021
⏱️ 14 minutes
🧾️ Download transcript
Summary
Gary Gensler’s confirmation hearing and Warren’s appearance on cable financial news give us a preview of crypto’s place in a new political landscape.
This episode is sponsored by Nexo.io and Casper.
Today on the Brief:
- PayPal acquiring Curv for $500 million?
- Traditional markets are very confused
- Portnoy launches Buzz exchange-traded fund
Our main discussion: NLW looks at the emerging political landscape for crypto in the U.S. Specifically, he examines:
- Gary Gensler’s hearing before the Senate Banking Committee on his nomination to head the SEC
- Elizabeth Warren’s comments (or non-comments) about bitcoin on cable TV
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Nexo.io lets you borrow against your crypto at 5.9% APR, earn up to 12% on your idle assets, and exchange instantly between 75+ market pairs with the tap of a button. Get started at nexo.io.
-
Launching in mid-March, Casper is the future-proof blockchain protocol that finally address the blockchain trilemma. Learn more at Casper.Network.
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Transcript
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| 0:00.0 | So many of the supposed champions of economic reform don't actually take the time to understand |
| 0:05.9 | true systemic alternatives. |
| 0:08.0 | Instead, their mechanism for change is just more regulation of the existing institutions that |
| 0:12.9 | have shown themselves time and time again to be the problem. |
| 0:16.3 | It's like wanting a system run by criminals with better handcuffs rather than a system |
| 0:20.7 | just not run by criminals in better handcuffs rather than a system just not run by |
| 0:21.5 | criminals in the first place. Welcome back to The Breakdown with me, NLW. It's a daily podcast |
| 0:29.8 | on macro, Bitcoin, and the big picture power shifts remaking our world. The breakdown is sponsored |
| 0:36.2 | by Nexo.io and Casper and produced and distributed by CoinDesk. |
| 0:41.9 | What's going on, guys? It is Wednesday, March 3rd, and today we're talking about Elizabeth Warren |
| 0:48.9 | and whether you're really surprised that she doesn't get Bitcoin. First up, however, let's do the brief. First on the brief |
| 0:56.8 | today, some big crypto M&A news. PayPal is reportedly in the process of buying Curve, which is a |
| 1:03.6 | crypto custody technology platform. An Israeli outlet is reporting the purchase price at 200 to 300 million, |
| 1:09.8 | while a Coin desk source |
| 1:11.3 | says it's closer to $500 million. The rumor is that PayPal tried to buy BitGo for $750 million |
| 1:18.2 | in cash last year and got rebuffed. So why is this interesting? Well, one of the things we've |
| 1:24.5 | discussed is that as all of these mainstream financial firms, |
| 1:28.2 | both fintechs like PayPal, as well as traditional services like banks, get into the business |
| 1:33.0 | of actually offering crypto services, they're not going to have the time or know how to build |
| 1:38.3 | things out themselves. What they do have is capital to throw around through acquisitions. |
| 1:46.2 | If this deal is $500 million, |
| 1:51.2 | it will be the biggest acquisition in crypto yet. But I also have no doubt that before 2021 is done, it will be massively outstripped. I would be shocked if we didn't see at least |
... |
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