Crypto world is reeling

Make Me Smart

Marketplace

Business, News

4.6 • 5.5K Ratings

🗓️ 11 November 2022

⏱️ 17 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Earlier this week, we told you about two cryptocurrency giants joining forces. Well, that deal fell apart, and now a major crypto exchange is in big trouble. Kimberly and guest host Andy Uhler talk about the fallout from FTX’s collapse. Plus, we’ll check in on El Salvador’s bitcoin investments. Then, the hosts’ attempt to make us smile fails, but they later redeem themselves.

Here’s everything we talked about today:

- Opinion | Brittney Griner moves to a Russian penal colony. Biden has no good options from The Washington Post

- “Behind FTX’s fall, battling billionaires and a failed bid to save crypto” from Reuters

- El Salvador Says China Offered to Buy Its Debt Amid Default Fears from Business Insider

- El Salvador’s bitcoin holdings down 60% to $60 million, one year later from CNBC

- “For the first time, Texas voters send Muslims and openly gay Black men to Legislature” from The Texas Tribune

- Tweet from Eli Lilly and Co. parody account

- Tweet about a classroom of second-graders paying rent on their desks

Join us tomorrow for Economics on Tap. The YouTube livestream starts at 3:30 p.m. Pacific time/6:30 p.m. Eastern. We’ll have news, drinks, a game and more.

Transcript

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0:00.0	I'm Tignotaro and despite my request that you stop asking me questions.
0:05.0	We're back with new episodes of my podcast Don't Ask Tig.
0:09.0	I can't promise good advice, but it will be a good time.
0:12.0	Listen wherever you get podcasts.
0:16.0	Let's do it.
0:24.0	Happy Thursday all I'm Kimberly Adams.
0:27.0	Welcome back to Make Me Smart, where we make today make sense.
0:30.0	Kai is out today, but joining me is the wonderful Andy.
0:34.0	Welcome back Andy.
0:35.0	Hey, thanks for having me Kimberly.
0:37.0	So good to be here as always.
0:39.0	Yes, so today is the day where we do some news fixes and make me smile.
0:44.0	Although mine is sort of a make me smile slash make me cry.
0:48.0	But Andy, you and I kind of overlap a bit on the news fixes.
0:52.0	What do you go first?
0:53.0	I wanted to talk about a little bit about El Salvador essentially.
0:57.0	So I remember we talked about this on this show last year.
1:01.0	El Salvador made Bitcoin its sort of legal tender.
1:07.0	It's currency last year.
1:09.0	And I know there was sort of a whole lot of reactions about cryptocurrency as sort of legal tender and things like that.
1:15.0	What has come to light is because of El Salvador's sort of massive Bitcoin holdings,
1:23.0	they now have about 60 billion dollars of debt that they're holding onto or their value.
	...

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