Is Political Gridlock Good for Crypto?

The Breakdown

Blockworks

Investing, Business

4.8 • 786 Ratings

🗓️ 8 January 2023

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

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Summary

On the first Weekly Recap of 2023, NLW hones in on the political impasse in Washington D.C. and explores whether a divided Congress (and a divided Republican party within Congress) might be good for crypto in a year that politicians are feeling animosity towards the industry. Enjoying this content? SUBSCRIBE to the Podcast Apple: https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M= Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW - “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with today’s editing by Michele Musso and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Image credit: mathisworks/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.
0:09.2	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:15.3	The breakdown is produced and distributed by CoinDes.
0:20.4	What's going on, guys? It is Saturday, January 7th, and that means it's time for the first
0:25.0	weekly recap of 2023. Now, before we dive into that, one quick note, there are two ways to
0:32.3	listen to the breakdown. You can hear us on the CoinDesk Podcast Network, which comes out every
0:36.8	afternoon, and features other great CoinDesk Podcast Network, which comes out every afternoon and features
0:38.4	other great Coin Desk shows alongside the breakdown.
0:41.2	Or you can listen on the breakdown only feed which comes out a few hours later in the evening.
0:45.3	Wherever you listen, if you are enjoying the show, I would so appreciate it if you would
0:48.4	take the time to leave a rating or a review.
0:50.7	It makes a huge difference, and I truly appreciate it.
0:53.9	Now, to today's show, we are doing
0:55.8	a true weekly recap. We are looking at where crypto stands after the first week of 2023.
1:01.8	The hits have come hard and fast and given us sort of exactly what we expected for this first week.
1:06.9	So on this first weekly recap, we're going to go through category by category in no particular
1:11.4	order to discuss where the chips stand as of today.
1:14.4	Let's kick off with regulation, or the lack thereof.
1:17.7	One of the big bits of news in the political world this week has been the absolute
1:21.6	dogfight for the Republican Speaker vote in the House.
1:25.0	If you're not in the United States, the TLDR is that Republicans took back the House,
1:28.7	aka Congress, in last fall's midterm elections. As one of their first orders of duty, they need to elect a
	...

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