BREAKDOWN: Why Crypto's 'Rogue State' Narrative is a Risk to the Industry
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 15 January 2020
⏱️ 17 minutes
🧾️ Download transcript
Summary
Crypto tokens weren’t the only thing that saw a major pump yesterday. The total value locked in DeFi ascended to new heights. While part of this can be explained simply by the rise in ETH price, it also reflected traders turning to DeFi platforms as a way to get more exposure to the market action without selling their core assets.
For all the exciting price action, not everything is pointing in a positive direction. These market moves don’t seem to reflect new market participants, for example, and anecdotally, times remain tough for projects trying to fundraise.
In our final segment, we look at a blockchain conference in North Korea that the UN suggests simply attending may violate international sanctions, an Iran-focused hedge fund that uses cryptocurrency to work around international restrictions, and ask whether this sort of activity presents a narrative risk to the industry as a whole?
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Transcript
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| 1:03.7 | Welcome back to the breakdowndown, an everyday analysis breaking down the most important stories in Bitcoin, crypto, and beyond, with your host, NLW. |
| 1:07.1 | The Breakdown is distributed by CoinDesk. |
| 1:11.4 | Welcome back to the breakdown. |
| 1:16.0 | It is Wednesday, January 15th, and we are going to be talking first today about Defi, what it did during the rally yesterday and what it might look like for |
| 1:20.2 | Defi's interplay with the rest of the industry throughout this year. |
| 1:23.4 | Second, we're going to almost have a cautionary tale and look at what's going on from a slightly |
| 1:28.9 | different lens and ask whether this rally is really the banner headline or whether there's |
| 1:33.5 | still big questions for the industry underlying. |
| 1:36.0 | And third, and finally, we're going to look at a story coming out of the UN warnings about |
| 1:41.4 | a Korea or North Korea-based blockchain conference and ask about an |
| 1:46.7 | emergent or maybe perhaps better put underlying narrative around rogue state money and ask |
| 1:53.3 | to what extent we should be worried about this. But first, let's dive in on Defy. |
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