BREAKDOWN: What Billions of Dollars in Crypto Fundraising Says About the Bull Market
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 20 November 2021
⏱️ 13 minutes
🧾️ Download transcript
Summary
If the good times are over, many have the dry powder to weather the storm.
This episode is sponsored by NYDIG.
From $400 million to a crypto exchange to $2.5 billion for the biggest crypto fund in history, NLW tells the story of this week’s big fundraising events by the numbers.
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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 Michele Musso & Adrian Blust, 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: Nuthawut Somsuk/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 CoinDesk. |
| 0:22.8 | What's going on, guys? It is Saturday, November 20th, and that means it's time for the weekly recap. |
| 0:29.2 | And this week, we are going to take a tour through the numbers that defined the week. |
| 0:34.4 | About half of them are fundraising announcements announcements which show just how crazy things are |
| 0:39.8 | still out there, no matter what you're seeing or thinking or feeling in terms of bull or bear |
| 0:44.3 | markets. But then the other half are just interesting numbers that I think have something |
| 0:48.1 | to say about the week that was. And let's start, of course, with 40 million. If you listen to my show yesterday, you know that |
| 0:55.7 | that is the biggest bid that Constitution Dow, the Dow that formed in just seven days that |
| 1:02.1 | raised contributions for more than 17,000 people. That was the biggest bid they could make to try to |
| 1:08.1 | buy one of the earliest surviving copies of the Constitution, |
| 1:12.3 | a document that was actually used to go try to rally and whip support for this thing |
| 1:16.9 | in the early colonies in 1787. I did a whole show about it yesterday, but I definitely believe |
| 1:24.1 | that this is the number this week will be remembered for. A couple tweets that sum up where people are with it right now. |
| 1:31.0 | Ryan Watkins at Masari wrote, while this is a disappointing outcome, |
| 1:34.6 | Constitution Dow was nevertheless a groundbreaking crowd fund. |
| 1:37.9 | $40 million in just three days is no joke. |
| 1:40.4 | We're still on day one of Dow's taking over the world, |
| 1:42.9 | and this won't be the last time a community comes together to leave their mark on the world. David Nage from ARCA actually |
| 1:49.0 | looked forward even more, saying so, Constitution Dow raised $40 million. That could have |
| 1:54.7 | supported 20 House candidates based on 2018 statistics. Primary Dow, imagine the potential. Next up, we have 700 million, and that's how |
... |
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