BREAKDOWN: Top 5 Things That Happened in Crypto in October
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 1 November 2021
⏱️ 16 minutes
🧾️ Download transcript
Summary
Regulation, institutions, ETFs!
This episode is sponsored by NYDIG.
NLW counts down the top 5 things to happen in crypto over the last month, including a DAO buying a Wu Tang clan album, top 5 U.S. banks creating new crypto offerings, battles around SEC subpoenas and much more. Listen to find out why we will view October 2021 as a significant transitional month in bitcoin and crypto history.
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NYDIG, the institutional-grade platform for bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.
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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 “Dark Crazed Cap” by Isaac Joel. Image credit: CC DF Foto/iStock/Getty Images Plus, modified by CoinDesk.
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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. |
| 0:16.2 | The breakdown is sponsored by Nidig and produced and distributed by CoinDes. |
| 0:22.7 | What's going on, guys? It is Monday, November 1st, and today we are doing something fun. |
| 0:28.8 | We're going to do a quick recap of the top five things that happened in crypto in October. |
| 0:34.5 | It was an extremely, extremely busy month. And I wanted to do this for |
| 0:40.3 | posterity so that we can look back and see what was happening in what I think will be seen |
| 0:45.3 | as an incredibly important transitional time. So first up, we have an honorable mention, which is |
| 0:51.1 | the purchase of the Wu-Tang secret one-off album Once Upon a Time in Shaolin |
| 0:56.5 | by Pleaser Dow. The backstory here is that in 2015, the legendary Wu-Tang Clan released a record |
| 1:04.9 | called Once Upon a Time in Shaolin. However, they only cut one copy of the record. At the time, they wrote, the music industry is in |
| 1:13.3 | crisis. The intrinsic value of music has been reduced to zero. Contemporary art is worth millions |
| 1:18.3 | by virtue of its exclusivity. By adopting a 400-year-old Renaissance-style approach to music, |
| 1:23.7 | offering it as a commissioned commodity and allowing it to take a similar trajectory from |
| 1:27.4 | creation to exhibition to sale, we hope to inspire and intensify urgent to offering it as a commissioned commodity and allowing it to take a similar trajectory from creation |
| 1:27.8 | to exhibition to sale, we hope to inspire and intensify urgent debates about the future of music. |
| 1:33.7 | Now, the interesting thing about this is that it wasn't just that only one copy was available |
| 1:38.1 | via auction, but also that there was an 88-year restriction on the commercialization of the |
| 1:43.1 | album. Unfortunately, the person who won that auction was none other than Farma Bro and soon-to-be |
| 1:50.2 | convict Martin Shikrelli. When he was convicted by the U.S. government, part of that conviction |
| 1:56.3 | was that they sold assets to repay his debts. One of those assets, you guessed it, the Wu-Tang |
| 2:02.7 | album. Earlier this summer, news broke that someone had purchased it from the Department of Justice, |
... |
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