MARKETS DAILY: Crypto Update | Markets Tense as Janet Yellen Teases Disaster

CoinDesk Podcast Network

CoinDesk

Business News, Daily News, News, Tech News

4.7 • 698 Ratings

🗓️ 17 May 2023

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

As Bitcoin slumps and monetary policymakers present a baffling binary choice, CoinDesk’s “Markets Daily” is back with the latest news roundup. Today's Stories: US X-Date Is Now June 5 As Treasury Burns $52BN Cash In One Day, Only $87BN Left Fleeing U.S. Crypto Firms ‘Welcome,’ French Regulator Says Even Licensed Firms Say Opening Bank Accounts Is Hard in Hong Kong China's Top Prosecution Agency Says Although Not Banned NFTs Have Crypto-Like Attributes Coinbase Hasn't Proven SEC Needs to Create Crypto-Specific Rules, Regulator Says Policy SEC Can't Seal Docs Tied to Hinman's Ether Speech, Judge in Ripple Suit Rules https://twitter.com/MetaLawMan/status/1658300159212634115 Ledger Bats Back Criticism of New Wallet Recovery Service Market Watch Links: BRN00 | Brent Crude Oil Continuous Contract Overview | MarketWatch Bitcoin Slides Below $27K as Investors Eye Debt Ceiling Negotiations Bitcoin's Realized Price on Cusp of Flashing Major Bullish Signal Bitcoin-Ether Correlation Weakest Since 2021, Hints at Regime Change in Crypto Market Dogecoin's Daily Transaction Reached Lifetime Highs After ‘DRC-20’ Tokens Introduced Axie Infinity's Token Jumps 12% After Firm Lists Game on Apple App Store This episode was edited by Ryan Huntington, and read by Senior Producer Michele Musso. All original music by Doc Blust and Colin Mealey. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:43.9	Wondery, UK. That's audible.com slash Wondery UK.
0:59.2	It's Wednesday, May 17th, 2023, and this is Markets Daily from CoinDesk.
1:01.3	I'm Adam B. Levine, here again with your daily news roundup.
1:05.1	On today, show we're talking Bitcoin, the debt ceiling, top headlines, and more.
1:08.9	And just a reminder, CoinDesk is a news source and does not provide investment advice.
1:22.6	Bitcoin, Ether, and most other risk assets are down and market showing mostly red.
1:26.6	Top of the news today is former Fed chief and current Treasury Secretary Janet Yellen out with more fire and brimstone about a U.S. default as soon as June.
1:30.2	We'll have more on this in the headlines, but markets seem a bit shook, even if these
1:34.0	are just the latest prognostications from an official who claimed just six years ago
1:38.0	that we would not see any more financial crises in our lifetime.
1:41.2	A real Nostradamus, but I digress. Quote, quote, the current macroeconomic situation is, in our view, conducive for increased
1:47.3	crypto adoption, said the CEO of Crypto Fund Manager Bitbull Capital in an email to CoinDesk,
1:52.1	continuing, the debt ceiling getting raised also bodes well for risk assets as market participants
	...

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