Crypto Daily 3@3 - 7.9.19 | Deutsche Bank layoffs; Does Libra drown the BTC narrative? + more

The Breakdown

Blockworks

Investing, Business

4.8 • 786 Ratings

🗓️ 10 July 2019

⏱️ 12 minutes

🔗️ Recording | iTunes | RSS

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Summary

Deutsche Bank announces 18k layoffs & a photo instafamous memes a tailor with a Bitcoin bag as a fired banker Strong counter argument against the idea that Libra is somehow good for Bitcoin A new platform for fractionalized art and culture ownership launches Follow on Twitter @nlw

Transcript

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0:00.0	going on everyone welcome back to another three at three how's it going how's it going uh it's been a week
0:09.8	uh took july fourth off over here in the states um had uh had a chance to go visit family in Maine
0:18.0	where I'm from the baby got to hang with the grandparents a little bit.
0:21.7	It was a good time. And now we are back and lots and lots of stuff to talk about. So let's dive
0:28.1	in. So as a lot of you did, I think I woke up yesterday to this news that Deutsche Bank was
0:35.3	laying off something like 18,000 people. So this massive restructuring
0:40.2	totally changed the nature of the bank. They're getting out of equities. I saw one of the headlines
0:48.8	is seen reminiscent of the financial crisis. So this happened and folks showed up at their jobs on Monday
0:55.8	in London and in New York to realize that they maybe didn't have jobs anymore. So one of the
1:03.7	first things that happened, though, was this picture came out where, if you can see right here,
1:09.0	this says Bitcoins, and I'm sure all of you have
1:11.2	seen this now. And so, like, right, this couldn't be more tailor-made for a meme, right? So I saw
1:17.1	Marty posted it early, and then Travis posted it, right? I posted Travis's post and said it was
1:23.5	iconic, which I think it is, right? This is, in some ways, it's incredibly iconic.
1:29.6	Of course, turns out that they weren't actually laid off from Deutsche Bank.
1:34.6	These guys just happen to be tailors who are walking by, and it just made for the perfect picture.
1:40.0	This is now turned into, I mean, a total meme on its own, right? So you have the company that
1:47.5	they're with, that awkward moment when their tailors get mistaken for fired bankers. You have the guy
1:53.2	himself who's now his profile is hashtag Bitcoin bag guy. So it's kind of ridiculous and just more, almost more accurate to
2:05.4	the partial absurdity and the upside downness that is crypto. But I think that the reason this
2:12.0	makes such a big deal is kind of tweets like this, right? So this is one of the founders of Delphi Digital,
2:18.8	who is obviously a prominent kind of analyst company in the space. When I left the bank last
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