BREAKDOWN: Crypto Fundraising and a Nothing-Is-Safe Haven
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 10 March 2020
⏱️ 14 minutes
🔗️ Recording | iTunes | RSS
🧾️ Download transcript
Summary
Whatever you thought of the uncorrelated or safe haven narratives a few weeks ago, it’s hard to deny that bitcoin and crypto are moving in lock step with equities - even mirroring a small bounce in the morning that retreated in the early afternoon.
On this episode of The Breakdown, NLW looks at hot takes on the narrative from Bloomberg’s Joe Weisenthal and crypto investor Ari David Paul.
Not all the news is bleak, however. Also on this episode, we break down recent financings for
- Argent’s de-fi friendly wallet
- Horizon Games’ blockchain-based Hearthstone/MtG style game SkyWeaver
- Futureswap’s decentralized futures exchange and more
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Transcript
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| 0:00.0 | Welcome back to The Breakdown, an everyday analysis breaking down the most important stories in Bitcoin, crypto, and beyond, with your host, NLW. |
| 0:15.0 | The Breakdown is distributed by CoinDesk. |
| 0:20.0 | Welcome back to the breakdown. |
| 0:22.7 | It is Tuesday, March 10th, and I got to tell you guys, yesterday was exhausting. |
| 0:29.6 | And well, it should have been. |
| 0:30.7 | It ended up being the worst day in markets since 2008, since the last financial crash. |
| 0:40.0 | It wasn't much better for Bitcoin. It was maybe a little bit better by percentages, but it wasn't much better around here. In fact, everything kind of moved |
| 0:45.8 | in lockstep down. Now, because of that, much of the conversation today has been about |
| 0:51.1 | Bitcoin as a safe haven asset or even as a non-correlated asset and whether this |
| 0:56.4 | just puts the nail in that narrative coffin. So I am going to touch on that a little bit to kick |
| 1:01.6 | off today's show. However, at the risk of being polyanish about what we're facing next, |
| 1:08.2 | I think that we're in for a very long, very extended, challenging period, |
| 1:14.5 | both in the context of this public health emergency as well as in the context of not just the |
| 1:20.3 | market's ability to deal with it, but the economy's ability to deal with it in general. |
| 1:26.1 | Because of that, we're going to have to win some positivity |
| 1:28.8 | where we can here and there. And so today I'm going to actually look at a slate of fundraising |
| 1:34.9 | news from the last few days. Companies that were fortunate enough to get their capitalizations |
| 1:40.6 | done before the coronavirus really kicked in, I think are in a good position |
| 1:46.1 | as long as they manage their treasury as well. So we're going to look at some of that news and |
| 1:50.8 | hopefully remind ourselves that even as bad as this might get, it will pass and a whole new |
| 1:56.7 | set of exciting companies and ideas and innovations will come out of it too. |
| 2:02.2 | So that's where we're going to focus today. |
... |
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