In 2020, crypto-criminal activity fell to 0.34% or 10 billion in transaction volume.

Both of these numbers are very small as percentages and very small as total volumes, especially

in the context of the larger world. This is less volume than an exchange like Binance did yesterday.

What's more, within this, the amount of crime that is the actual crime that

Yellen is talking about isn't even close to the biggest category, which are scams. Terrorist

financing represents almost nothing. Welcome back to The Breakdown with me, NLW. It's a daily

podcast on macro, Bitcoin, and the big picture power shifts remaking our world.

The breakdown is sponsored by nexo.io and produced and distributed by CoinDesk.

What's going on, guys? It is Wednesday, January 20th, and today we are talking about the new Biden administration and Janet Yellen

specifically. Is she Bitcoin's biggest enemy or greatest asset? First up, however, let's do the

brief. First up on the brief today, Jack Ma is not dead. Jack Ma, the founder of Alibaba,

has not been seen in public for months. The TLDR is that

he upset the CCP when he said that the Chinese financial system needed to reform and be

updated for a new era. This was last November, and a couple of days later, they pulled the

Ant Financial IPO, which was slated at the time to be the

biggest IPO in history. It was a power play to show the place of private companies, particularly

financial companies in the Chinese system. And it's also been rumored that the move had a lot

to do with the power accruing to these fintech firms specifically that the CCP wants for itself

as part of the digital yuan. I did a full episode about this if you're interested last week,

but either way, today he appeared for less than a minute in a live streamed video speaking to a

group of teachers. Just based on that tiny little nugget of Jack Ma, the value of Alibaba soared

$58 billion, which is absolutely insane. Analysts say that this likely means the worst-case

...