BREAKDOWN: How This Week's House and Senate Hearings Suggest a New Relationship Between Crypto and US Lawmakers

CoinDesk Podcast Network

CoinDesk

Business News, News, Daily News, Tech News

4.7 • 698 Ratings

🗓️ 12 February 2022

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Hearings in the House and Senate were thoughtful and productive. This episode is sponsored by Nexo, Arculus, FTX US and MELD.com. This week saw a hearing on stablecoins in the House and on crypto in general and the role of the CFTC in specific in the Senate. On this edition of the “Weekly Recap,” NLW argues that both were thoughtful, productive and suggest that U.S. lawmakers are engaging with crypto like never before. - Nexo is a powerful, all-in-one crypto platform where you can securely store your crypto. Invest, borrow, exchange and earn up to 18% APR on Bitcoin and 20+ other top coins. Insured for $375M. Audited in real-time by Armanino. Rated excellent on Trustpilot. Get started today at nexo.io. - Arculus™ is the next-gen cold storage wallet for your crypto. The sleek, metal Arculus Key™ Card authenticates with the Arculus Wallet™ App, providing a simpler, safer, and more secure solution to store, send, receive, buy, and swap your crypto. Buy now at getarculus.com. - FTX US is the safe, regulated way to buy Bitcoin, ETH, SOL and other digital assets. Trade crypto with up to 85% lower fees than top competitors and trade ETH and SOL NFTs with no gas fees and subsidized gas on withdrawals. Sign up at FTX.US today. - MELD is building the first-ever decentralized, non-custodial crypto to fiat lending and borrowing solution that will allow its users to lend and borrow both crypto and fiat currencies seamlessly. Users can stake MELD directly on the MELDapp, which will allow for governance voting for new protocol improvements, insuring the protocol, and earning up to 15% APY in MELD rewards. Start using MELD today at app.meld.com. - “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: Alex Wong/Getty Images News, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

Click on a timestamp to play from that location

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.
0:22.8	What's going on, guys? It is Saturday, February 12th, and that means it's time for the weekly
0:27.6	recap. However, before that, if you are enjoying the breakdown, please go subscribe, give it
0:32.5	five stars, give it a review, or if you want to dig deeper into the conversation, join us on the Breakers Discord.
0:39.1	You can find a link in the show notes or go to bit.com slash breakdown pod.
0:44.0	Additionally, a disclosure. On top of them being a sponsor of the show, I also work with
0:49.7	FTX, and one final note before we get into today's conversation. This week, I am super pleased to have a
0:57.6	special sponsor in Meld. If you've ever wondered how the rich are able to spend their money and still
1:02.3	stay rich, it's because they borrow against their assets. Meld is creating a protocol that can be
1:07.9	used by anyone and which offers this exact service, but in a
1:11.4	decentralized way. Users of Meld's protocol will be able to borrow dollars, euros, and other
1:16.1	fiat currencies against their cryptocurrencies. If you want to learn more about the first
1:20.3	defy non-custodial banking protocol today, go check out meld.com. That's MELD.com.
1:27.3	So on to the show, and the big theme of this week has been these
1:31.1	big picture macro type factors pointing in different directions for the crypto markets. On the one
1:36.6	hand, you have the Fed in the midst of its big 180 on monetary policy moving over the course
1:40.9	of this year, it seems, all the way from QE quantitative easing last year
1:44.5	to QT quantitative tightening this year removing liquidity from the system. And risk assets
1:50.2	aren't having a good time with that, as we saw pretty much all of January. On the other hand,
1:55.4	you have these big picture adoption stories happening. Russia deciding not only to not ban Bitcoin, but in fact to
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from CoinDesk, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of CoinDesk and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.