BREAKDOWN: Two Regulatory Hearings Show Difference in SEC and CFTC Approaches to Crypto
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 17 September 2022
⏱️ 16 minutes
🧾️ Download transcript
Summary
Fireworks between Senator Toomey and SEC Chair Gensler.
This episode is sponsored by Nexo.io, Chainalysis and FTX US.
On this edition of the “Weekly Recap,” NLW looks at the latest in market action plus how two congressional hearings highlighted differences in the approaches the CFTC and SEC are taking to crypto.
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I.D.E.A.S. 2022 by CoinDesk facilitates capital flow and market growth by connecting the digital economy with traditional finance through the presenter’s mainstage, capital allocation meeting rooms and sponsor expo floor. Use code BREAKDOWN20 for 20% off the General Pass. Learn more and register at coindesk.com/ideas.
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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 and “The Life We Had” by Moments. Photo of Sen. Pat Toomey (R-Pa.), credit: Anna Moneymaker/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.
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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. |
| 0:14.8 | The breakdown is sponsored by nexo.io, chain aliasis, and FtX, and produced and distributed by CoinDesk. |
| 0:22.8 | What's going on, guys? It is Saturday, September 17th, and that means it's time for the weekly |
| 0:27.4 | recap. A quick note before we dive in, however, there are two ways to listen to the Breakdown |
| 0:32.0 | podcast. You can find us on the Coin Desk podcast network feed, which comes out every afternoon, |
| 0:37.9 | alongside other great Coin desk shows, or you can find us on the Coin Desk Podcast Network feed, which comes out every afternoon, alongside other great Coin Desk shows, or you can find us on the breakdown only feed, which comes out a few |
| 0:42.2 | hours later in the evening. |
| 0:43.9 | Wherever you listen, if you are enjoying the show, I would so appreciate it if you |
| 0:47.2 | would take the time to leave us a rating or a review. |
| 0:49.9 | Also, a disclosure as always, in addition to them being a sponsor of the show, I also work |
| 0:53.8 | with FTX. |
| 0:55.2 | Finally, I want to tell you about CoinDesk's new event, the investing in digital enterprises and |
| 1:00.1 | asset summit or ideas, which is designed to facilitate capital flow and market growth by connecting |
| 1:05.4 | the digital economy with traditional finance. Join CoinDesk October 18th and 19th in New York City for a 360-degree |
| 1:13.1 | investment experience where you can source and invest in the next big deal in digital assets. |
| 1:18.6 | Use code breakdown 20 for 20% off a general pass and register today at coindesk.com slash ideas. |
| 1:25.4 | Well, folks, this ended up being a pretty huge week. It kicked off on Tuesday with an |
| 1:31.1 | inflation surprise. Markets have convinced themselves that we were going to see a continuation |
| 1:36.0 | of the trend from last month and a further decline in month-over-month inflation. Instead, |
| 1:41.3 | we got a much higher than anticipated increase in month-over-month inflation. |
| 1:45.9 | This led to the worst market day since June of 2020, and an increased likelihood that the Federal |
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