Exchange Fears Roil Crypto Following SBF’s Arrest

The Breakdown

Blockworks

Investing, Business

4.8 • 786 Ratings

🗓️ 17 December 2022

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

This episode is sponsored by Nexo.io, Circle, Kraken and the Galaxy Brains Podcast. On this edition of the “Weekly Recap,” NLW looks at how the FTX bankruptcy is proceeding following the arrest of disgraced founder Sam Bankman-Fried, as well as the concerns surrounding Binance that have been present all week. - Nexo is a security-first platform where you can buy, exchange and borrow against your crypto. The company ensures the safety of your funds and keeps innovating with products like the Nexo Wallet - a non-custodial smart wallet that allows you to create your Web3 identity. Get early access at nexo.io/wallet. - Circle, the sole issuer of the trusted and reliable stablecoin USDC, is our sponsor for today’s show. USDC is a fast, cost-effective solution for global payments at internet speeds. Learn how businesses are taking advantage of these opportunities at Circle’s USDC Hub for Businesses. - Kraken, the secure, trusted digital asset exchange, is our sponsor for today's show. Kraken makes it easy to instantly buy 185+ cryptocurrencies with fast, flexible funding options. Your account is covered by regular Proof of Reserves audits, industry-leading security and award-winning Client Engagement, available 24/7. Sign up and trade today at kraken.com/breakdown. - Galaxy Brains: Whether it’s breaking down market volatility or analyzing the latest development, come for the latest market insights from our in-house trading professionals and renowned experts from across the industry. Stay for the occasional rap from host Alex Thorn. Check out the latest episodes here: https://www.galaxy.com/research/podcasts/galaxy-brains/?utm_source=BD&utm_medium=podcast&utm_id=CoinDesk - “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 “Glasgow” by Falls. Image credit: Malte Mueller/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.

Transcript

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0:00.0	Welcome back to The Breakdown with me, NLW.
0:09.1	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:15.2	The breakdown is sponsored by nexo.io, Circle, and Cracken, and produced and distributed by CoinDes.
0:22.8	What's going on, guys? It is Saturday, December 17th, and that means it's time for the weekly
0:27.1	recap. Now, a quick note before we dive in, there are two ways to listen to the breakdown podcast.
0:32.2	You can hear us on the CoinDesk Podcast Network feed, which comes out every afternoon and features
0:35.9	other great shows alongside the breakdown, or you can listen on the breakdown-only feed, which comes out a few hours later
0:40.8	in the evening. Wherever you listen, if you are enjoying the breakdown, I would so appreciate it
0:44.9	if you would take the time to leave a five-star rating or review. It makes a huge difference,
0:48.9	and I can't thank you enough. I'm excited to also share that this week the podcast is brought to you by Galaxy and the Galaxy
0:54.6	Brain's podcast. Transparency is more important than ever in crypto. If you're here, it's obvious
1:00.5	how important it is to you to find reliable information. For more shows like this, for more shows
1:05.7	like The Breakdown, check out the Galaxy Brains podcast. To tell you a little more, here's the host Alex Thorne, Galaxy
1:12.2	Head of Research. Listen each week as we take you inside the biggest stories and projects in Bitcoin
1:18.2	and crypto. Whether it's breaking down market volatility or analyzing the latest technical developments,
1:24.2	Galaxy Brains has you covered. Come for the latest market insights from our in-house
1:28.2	trading professionals and renowned experts from across the industry. Stay for the occasional
1:33.2	rap from yours truly. Check it out at galaxy.com slash research. Now, today on the weekly recap,
1:41.0	we are looking back at what was a pretty significant week. Obviously,
1:45.0	on the macro side of things, there were two big events that happened. The first was that we got
1:49.5	November's inflation numbers, and surprise, they came in better than expected. Headline inflation last
1:55.5	month was 7.1%, which was less than the 7.3% predicted, and down from 7.7% the month before.
	...

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