BREAKDOWN: Is Scam Selling Suppressing the Price of Bitcoin?
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 25 June 2020
⏱️ 18 minutes
🧾️ Download transcript
Summary
Today we also look at a big win for privacy from Apple, new jobless claims in the “whack-a-mole” economy and the biggest BTC options expiry ever.
This episode is sponsored by Bitstamp and Ciphertrace.
Today’s edition of The Breakdown is an extended version of the Brief, this time covering five topics.
- New Jobless claims - sticking stubbornly at ~1.5 million new claims per week, despite economist expectations
- The “whack-a-mole” economy - Former Treasury Secretary Lawrence Summers predicts as much as 30% of the economy may need to close to get COVID-19 under control
- PlusToken scam pressure on BTC price: Has scam selling suppressed the price of bitcoin since early last year?
- Biggest ever bitcoin option expiry; more than $1 billion in notational value BTC options are set to expire tomorrow, Friday, June 26
- Apple’s UX privacy triumph: Users will have to opt-in to allow apps to track them across other apps as well
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 | On December 9th of last year, Travis Kling tweeted, plus token, cloud token, one coin. |
| 0:06.5 | We will likely look back on this period for BTC when number didn't go up while the macro backdrop was so exceedingly bullish and realized with hindsight that it was because of billions of dollars of selling pressure from exit scams. |
| 0:20.0 | It's that simple. Welcome back to the |
| 0:24.0 | breakdown, an everyday analysis breaking down the most important stories in Bitcoin, crypto, and |
| 0:29.7 | beyond. This episode is sponsored by BitStamp and CipherTrace. Thedown is produced and distributed by CoinDesk. |
| 0:40.5 | And now here's your host, NLW. |
| 0:46.0 | Welcome back to The Breakdown. |
| 0:48.2 | It is Thursday, June 25th, and today's episode is a little bit different. |
| 0:53.9 | I was thinking about doing an episode on CLO's |
| 0:57.0 | collateralized loan obligations. It's a term that I think you're hearing a lot more in the |
| 1:02.2 | press right now. There's stirrings about this being at the potential center of a new banking crisis. |
| 1:07.8 | And I want to do a show about basically a primer on CLOs. However, I didn't |
| 1:12.7 | feel I had enough chance to really do that justice, so I'm aiming for next week for that. So |
| 1:18.7 | instead of that, I'm actually going to do an extended brief where I go through five different |
| 1:23.4 | topics instead of three. There's a ton of stories going on in the markets today, and I thought |
| 1:28.7 | maybe this was the right episode for the moment. First up on the brief, let's talk about |
| 1:34.0 | continued pain in the jobs market. Today is Thursday, which means that we got the latest |
| 1:38.7 | jobless claims numbers, and they are holding consistent right around 1.5 million new claims. It was 1.48 million claims to be |
| 1:47.0 | exact. Now, the prediction was 1.32 million claims. So again, for the second week in a row, while we did |
| 1:53.5 | see a drop in new claims, it was much lower than anticipated. What's more, going back to this concern that I've addressed on numerous episodes |
| 2:03.3 | about whether there will be a white-collar second wave of layoffs, Macy's announced that they're |
| 2:09.2 | cutting 3,900 corporate jobs in restructuring, which amounts to 3% of their workforce. |
... |
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.