BREAKDOWN: DC vs. Saylor
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 1 September 2022
⏱️ 18 minutes
🧾️ Download transcript
Summary
Washington, D.C., is very publicly going after MicroStrategy founder Michael Saylor for tax fraud.
This episode is sponsored by Nexo.io, Chainalysis and FTX US.
On today’s episode, we look at the District of Columbia’s new lawsuit against Michael Saylor claiming that he has lived in D.C. for more than the requisite 183 days a year that would require him to pay taxes. NLW explores the reactions to the news, as well as previewing what he predicts will be an action-packed autumn when it comes to regulatory engagement.
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I.D.E.A.S. 2022 by CoinDesk facilitates capital flow and market growth by connecting the digital economy with traditional finance through the presenter’s mainstage, capital allocation meeting rooms and sponsor expo floor. Use code BREAKDOWN20 for 20% off the General Pass. Learn more and register at coindesk.com/ideas.
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“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with today’s editing by Eleanor Pahl and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsors today is “Razor Red” by Sam Barsh and “The Life We Had” by Moments. Image credit: Marco Bello/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.
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Transcript
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| 0:00.0 | Welcome back to The Breakdown with me, NLW. |
| 0:09.2 | It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. |
| 0:14.8 | The breakdown is sponsored by nexus.com, chain aliasis, and FtX, and produced and distributed by CoinDes. |
| 0:22.8 | What's going on, guys? It is Thursday, September 1st, and today we are talking about Washington, |
| 0:28.7 | D.C. versus Michael Saylor. Before we get into that, however, if you are enjoying the breakdown, |
| 0:34.0 | please go subscribe to it, give it a rating, give it a review, or if you want to dive |
| 0:38.0 | deeper into the conversation, come join us on the breakers Discord. You can find a link in the show |
| 0:42.6 | notes or go to bit.ly slash breakdown pod. Also, a disclosure as always. In addition to them being |
| 0:48.8 | a sponsor of the show, I also work with FTX. All right, folks, well, the best time of the year has begun. That's right. |
| 0:57.6 | It's September. That means it's autumn. Don't care what's official. It is official in my heart. |
| 1:02.3 | And according to TikTok, I am certainly not alone. Now, when it comes to markets, I am expecting |
| 1:08.2 | an autumn of action. On the macro front, we have a rate meeting coming up in |
| 1:12.6 | September that is going to be seen as a real bellwether of where the Fed is, how they're thinking |
| 1:17.7 | about the future. Will we get another 75 basis point hike? Will we see the return of forward |
| 1:23.0 | guidance? Will we instead still be in wait and C mode, basing decisions on new data as it becomes available? |
| 1:29.3 | In either case, the FOMC also has meetings in November and December, so you can expect a lot of market discussion to come. |
| 1:36.3 | Now, on the crypto front, there are reasons to think that there is likely to be a slew of action as well. |
| 1:41.3 | One, many of the deadlines for the reports that President Biden called for |
| 1:45.1 | in his executive order are going to start coming due. Second, there are a significant number of |
| 1:49.9 | outstanding legislative efforts that are likely to be pursued when Congress and the Senate are back in |
| 1:53.9 | session. Third, the midterms could shape the discourse in one way or another, either with Republicans |
| 1:59.4 | reclaiming control of the House and setting a new |
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