BREAKDOWN: Bear Market? Not According to These Monster Financing Rounds

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4.7 • 698 Ratings

🗓️ 23 June 2021

⏱️ 15 minutes

🔗️ Recording | iTunes | RSS

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Summary

$100 million for NFTs from Fox. $230 million for a new DeFi funding DAO. $380 million for Ledger. If this is a bear market, it’s going to be well funded. This episode is sponsored by Nexo.io and Circle. Today on "The Breakdown," NLW looks at the contrast between growing bear market sentiment versus a sustained set of high-profile eight and nine figure financing rounds across multiple dimensions of the crypto market. Specifically, he looks at funding deals in NFTs, DeFi and institutional bitcoin, arguing that even if we do head into a bear market, that capital is likely to mean a return to bull more quickly. - Nexo.io lets you borrow against your crypto at 6.9% APR, earn up to 12% on your idle assets, and exchange instantly between 100+ market pairs with the tap of a button. Get started at nexo.io. - Circle Yield, now in early access, enables qualified businesses to generate returns up to 6% with 1 to 12 month terms by deploying capital into USDC on a Circle Account. Sign up for the fully secured, institutional yield product at circle.com/nlw. - Image credit: Nuthawut Somsuk/iStock/Getty Images Plus See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:43.9	Wondery UK. That's audible.com slash Wondery UK.
0:49.4	The point that I want to make here is that the larger space is still flush with cash, and it's
0:55.2	cash from serious investors that extend from crypto to beyond. That wasn't the case in 2017-2018.
1:02.5	The capital flowing in at that time was almost entirely ICO retail, and when it stopped,
1:07.5	it cratered. Welcome back to The Breakdown with me, NLW.
1:14.2	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
1:20.5	The breakdown is sponsored by nexo.io and circle and produced and distributed by CoinDes.
1:27.6	What's going on, guys? It is Wednesday, June 23rd, and today we are talking about some
1:33.6	contra signals on the idea of it being a new bear market. So yesterday, folks were starting
1:40.7	to get dreary. Obviously, the crypto markets haven't been great for a while now,
1:45.0	but there were some big psychological milestones that were crossed yesterday and crossed in the
1:50.2	wrong direction. The two biggest, of course, were Bitcoin dipping down under $30,000,
1:55.3	effectively retracing the entirety of 2021 and Ethereum going below 2000 and meaningfully below for a while. I've spent a
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