BREAKDOWN: How Russia’s Escalation in Ukraine Is Impacting Markets
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 22 February 2022
⏱️ 17 minutes
🧾️ Download transcript
Summary
While much is unknown, many are anticipating big impacts on energy.
This episode is sponsored by Nexo, Arculus, and FTX US.
Monday, President Vladimir Putin announced Russia’s recognition of two breakaway territories in the Ukrainian region of Donbas. The recognition was widely seen as a major escalation of the tense standoff that has dominated global geopolitics so far this year. On today’s episode, NLW provides a recap of the latest news and looks at how markets are responding. Spoiler alert: Everyone is focused on energy.
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“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill 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 “Vision” by OBOY. Image credit: Mikhail Svetlov/Getty Images News, 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. |
| 0:15.0 | The breakdown is sponsored by nexo.io, Arculus, and FTX, and produced and distributed by CoinDesk. |
| 0:22.9 | What's going on, guys? It is Tuesday, February 22nd, yes, 2-2-2-2-2-2-2, as Mitch Hedberg once famously |
| 0:31.0 | wished his phone number could be. Today, we are talking about the latest in the Russia-Ukraine |
| 0:36.5 | situation, which has had some pretty |
| 0:38.6 | dramatic escalations, and of course, looking at how that might impact markets. |
| 0:43.8 | First, however, if you are enjoying the breakdown, please go subscribe to it, give it a rating, |
| 0:48.1 | give it a review, or if you want to get deeper into the conversation, come join us on |
| 0:52.7 | the breakers discord. You can find a link in the show notes or go |
| 0:55.7 | to bit.ly slash breakdown pod. Finally, before we dive in, a disclosure, as always, in addition to them |
| 1:02.8 | being a sponsor of the show, I also work with FTX. Now let's get this started by talking |
| 1:08.7 | crypto markets. As you guys know, we've had a number of days of a sort of sideways down chop, and more or less, we've been in this sort of $37,000 to $43,000 range for a month now. |
| 1:20.9 | Markets are thin with little activity, and you're starting to see a lot of those classic thought leadership threads about bear markets start to come to the |
| 1:28.3 | four. A lot of them are good reading, right? They have a lot of consideration about what will and won't |
| 1:33.7 | survive during a crypto bear market. That type of discourse is healthy. It's important. It helps us |
| 1:39.7 | understand what's valuable in the long term, not just when we're caught up in the short term of all the |
| 1:44.6 | numbers going up all at once. And as you might expect, in that process, there have been some |
| 1:49.7 | comparisons to previous downturns. However, where I want to start the show today is a tweet from |
| 1:54.8 | Kyle Davies over at Three Arrow's Capital, who points out just how dissimilar things actually are. |
| 2:03.3 | In 2018, he writes, there was foreselling of ETH as ICOs raised tons and were liquidating. In 2022, the NASDAQ had a |
| 2:08.9 | three-sigma correction with the Fed spooking rates plus quantitative tightening and Putin |
... |
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