4.8 • 689 Ratings
🗓️ 15 November 2022
⏱️ 19 minutes
🧾️ Download transcript
More hedge funds announced significant losses today.
This episode is sponsored by Nexo.io, Circle and Kraken.
On today’s episode, NLW explores the state of the market in the wake of the collapse of FTX and Alameda Research. He looks at hedge funds that have reported funds stuck on FTX as well as overall liquidity conditions. He also looks at the divergence between crypto and other risk assets over the last two weeks.
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Circle, the sole issuer of the trusted and reliable stablecoin USDC, is our sponsor for today’s show. USDC is a fast, cost-effective solution for global payments at internet speeds. Learn how businesses are taking advantage of these opportunities at Circle’s USDC Hub for Businesses.
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Kraken, the secure, trusted digital asset exchange, is our sponsor for today’s show. Kraken makes it easy to instantly buy 185+ cryptocurrencies with fast, flexible funding options. You’re covered by industry-leading security and award-winning Client Engagement, available 24/7. Sign up and trade today at kraken.com.
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“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell 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. Image credit: Alex Wong/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.
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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. |
0:15.3 | The breakdown is sponsored by nexo.io, Circle, and Cracken, and produced and distributed by CoinDest. |
0:22.8 | What's going on, guys? It is Tuesday, November 15th, and today we are checking in on the |
0:27.6 | market reactions to the FTX collapse. Before we get into that, however, if you are enjoying |
0:33.1 | the breakdown, please go subscribe to it, give it a rating, give it a review, or if you want to |
0:37.1 | dive deeper into the conversation, and boy, is there a lot to discuss right now, come join us on |
0:42.0 | the Breakers Discord. You can find a link in the show notes or go to bit.ly slash breakdown pod. |
0:47.4 | All right, friends, well, first of all, thank you to all of you who have sent messages and |
0:51.4 | shared your thoughts after yesterday's episode. It seems to |
0:54.2 | have helped many people understand, and I'm really grateful for all the feedback. Second, |
0:58.5 | in terms of going forward with content, on the one hand, I am, like I'm sure many of you are, |
1:03.5 | pretty ready to not have everything be the Sam Bankman fraud show all the time. But that's said, |
1:08.8 | the fallout from FTX continues to dominate industry news, |
1:12.5 | and so for this week at least, I expect a lot of the show to be continuing to give updates as |
1:17.8 | that story develops. What's more, SBF's incredibly narcissistic main character syndrome |
1:22.9 | seems to mean he won't let himself stay out of the limelight, so we're going to be dealing |
1:26.3 | with that as well. |
1:32.4 | However, a couple of announcements that should give you some non-SPF light at the end of the tunnel. |
1:37.0 | The first is that next week, for the second year in a row, I'm doing a Thanksgiving week interview series called Grateful for Bitcoin. I'd been planning this second edition for a while now, |
1:42.2 | but in light of the last couple of weeks, I think the series is even better time than I had imagined. |
1:47.2 | I'll have a number of folks on who are in the Bitcoin mining space, a number of entrepreneurs |
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