BREAKDOWN: Is China Poised to Nationalize Alibaba?
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 12 January 2021
⏱️ 19 minutes
🧾️ Download transcript
Summary
The International Business Times reports China might nationalize Alibaba. Here’s what that has to do with China’s digital currency efforts.
This episode is sponsored by Nexo.io and this week’s special product launch: Stacks.co.
Today on the Brief:
- Whales accumulated during yesterday’s crash
- Kentucky legislators introduce bill to attract crypto miners
- UBS lowers the threshold for charging savers because of negative interest rates
Our main discussion: What China’s prospective nationalization of Alibaba has to do with the nation’s digital currency efforts.
In this episode, NLW:
- Gives a background on China’s digital currency project
- Discusses why the DCEP is motivated by a larger attempt to internationalize the RMB
- Background on Alipay, Ant Financial and Alibaba
- How Alibaba founder Jack Ma annoyed the CCP and why he hasn’t been seen publicly in two months
-
Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io.
-
A new era of innovation on Bitcoin has begun. Stacks 2.0 enables secure apps and smart contracts on Bitcoin, unlocking new use cases and value while laying the foundation for a user-owned internet. https://stacks.co.
Image credit: Wang HE/Getty Images News
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 | When we're discussing CBDCs in China, we're talking about geopolitical and geostrategic questions. |
| 0:07.1 | I'm interested in big picture power shifts, and I believe that there is going to be massive battles |
| 0:12.3 | around the balance of payments, the balance of trade, around the very nature of the global |
| 0:16.8 | payment system. And this is a front that's being fought right before our eyes, as I said, |
| 0:22.4 | both between China and other players, but also within China. Welcome back to The Breakdown with me, |
| 0:29.9 | NLW. It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. |
| 0:36.9 | The breakdown is sponsored by nexus.io and stacks2.com and produced and distributed by CoinDesk. |
| 0:44.6 | What's going on, guys? It is Tuesday, January 12th, and today we are talking about what China's |
| 0:50.4 | prospective nationalization of Alibaba has to do with central bank digital currencies. |
| 0:57.4 | First up, however, let's do the brief. First on the brief today, let's do a little review |
| 1:01.9 | and accounting for yesterday's Bitcoin crash. This was, of course, the main point of discussion |
| 1:06.8 | on yesterday's show. Now, in terms of price, we've recovered slightly. There was a battle this |
| 1:11.9 | morning around 36,000, but at least as I'm recording, the bears have won that one for now. Still, |
| 1:17.2 | that's not really the only data you should know about. Bitcoin's active addresses and trading |
| 1:21.8 | volumes are now at all-time highs, having surpassed the previous 2017 bull run. It is worth noting that high volume yesterday did |
| 1:29.8 | in part reflect some newcomers who were panic selling. The number of addresses holding less than |
| 1:35.1 | 0.01 BTC dropped from 8.54 million to 8.53 million. And overall, the volume was insane yesterday. |
| 1:44.1 | Larry Sermak from the block tweeted, |
| 1:45.8 | Coinbase recorded record daily volume yesterday of 9.56 billion. Just to illustrate how crazy |
| 1:52.6 | that amount is, that's more than the total volume for Q1 2019, and also larger than the total |
| 1:58.7 | volume for January last year. |
| 2:01.2 | Here's another number, however, that is also important. |
... |
Please login to see the full transcript.
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.
Copyright © Tapesearch 2025.