BREAKDOWN: DAOs, NFTs and Crypto Derivatives Win Attention as Billionaire Paulson Calls Crypto ‘Worthless’

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CoinDesk

Business News, Daily News, News, Tech News

4.7 • 698 Ratings

🗓️ 31 August 2021

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today’s news reflects the full breadth of everything happening in the crypto industry. This episode is sponsored by NYDIG. On today’s episode, NLW breaks down a slew of stories that reflect different aspects of the crypto industry: Billionaire John Paulson doesn’t like crypto FTX US acquires LedgerX Syndicate DAO raises $20 million Layer 1 battles with Ethereum and Solana Vintage Bitcoin-based “Rare Pepes” get repurposed and sold on OpenSea Treasury trying to add MORE rules for crypto reporting - NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW. - “The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: Malte Mueller/Getty Images, modified by CoinDesk. 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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0:49.6	The fascinating thing to me is that it's just so clear where this battleground is going to be,
0:54.9	and it's going to be Dex's, it's going to be peer-to-peer trading.
0:58.0	These battles are going to be big, and if you think it's quiet now, that's just because
1:02.0	these teams are absolutely gearing up for an insane fall.
1:06.6	Welcome back to The Breakdown with me, NLW.
1:10.7	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
1:17.7	The breakdown is sponsored by Nidig and produced and distributed by CoinDesk.
1:24.2	What's going on, guys? It is Tuesday, August 31st, and today's news is wildly emblematic of the full breadth of the crypto industry today.
1:34.0	So I thought it'd be good to go through each of these stories and give them some context.
1:38.3	And let's start with one of the most classic tropes in this industry, an old rich guy who doesn't get its story.
1:45.7	One of the interesting things about hedge funds and venture investors is that oftentimes,
1:50.7	one really big contrarian bet that pays off can solidify an investor's reputation for a very,
	...

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