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.

What's going on, guys? It is Tuesday, October 17th, and today we are talking about the new

official spokesperson for Bitcoin, BlackRock CEO, Larry Fink. Before we get into that,

however, if you are enjoying the breakdown, please go subscribe to it, give it a rating, give it

a review, or if you want to dive deeper into the conversation, come join us on the Breakers Discord. You can find a link in the show notes or go to bit.ly slash breakdown

pod. Well, friends, if you listened to yesterday's show or if you were alive on Twitter, you probably

saw when Coin Telegraph dropped a tweet that the SEC had approved BlackRock's Bitcoin Spot ETF application.

Now, of course, news that the BlackRock product had been approved.

Not only a Spot ETF approval, but the one from the biggest asset manager in the world,

sent Bitcoin's price skyrocketing past 30,000, a 7% move in a matter of minutes.

Now, importantly, the tweet did not give any sources. And despite hundreds, if not thousands of people gleefully sharing the news immediately

after, none of them had the source. Alas, within an hour, it became clear that the news was

indeed fake, and Bitcoin collapsed back down to $28,000.

The SEC continued its campaign of snark, tweeting, careful what you read on the internet,

the best source of information about the SEC is the SEC. Now, in the evening, Coin Telegraph

published their apology. They claimed that they had published the news based on a tweet containing

a screenshot which claimed to be from a Bloomberg terminal. It seems likely they are referring to a

message posted to a telegram group which was uncovered throughout the day. The telegram user was

anonymous and deleted their account shortly after the post. CoinTelegraph released screenshots

of their internal chat log, which showed staff quickly identifying that the report was

incorrect. Coin Telegraph said that the post had violated their social media procedure and claimed

...