Post-Narrative Institutionalization vs. Regulatory Enforcement

The Breakdown

Blockworks

Investing, Business

4.8 • 786 Ratings

🗓️ 13 October 2022

⏱️ 17 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

This episode is sponsored by Nexo.io, Circle and FTX US. On today’s episode, NLW covers stories that reflect the two big themes of the 2022 crypto bear market: post-narrative institutional adoption on the one hand, and regulatory enforcement on the other. He covers the news that BNY Mellon has been approved to custody crypto (along with accusations from some in the industry that the approval shows regulatory favoritism for TradFi), Google’s partnership with Coinbase, Grayscale’s first brief in its lawsuit against the SEC and reports that the SEC is looking into Bored Ape Yacht Club creator Yuga Labs. (Grayscale is a subsidiary of Digital Currency Group, the parent company of CoinDesk.) - Nexo Pro allows you to trade on the spot and futures markets with a 50% discount on fees. You always get the best possible prices from all the available liquidity sources and can earn interest or borrow funds as you wait for your next trade. Get started today on pro.nexo.io. - FTX US is the safe, regulated way to buy Bitcoin, ETH, SOL and other digital assets. Trade crypto with up to 85% lower fees than top competitors and trade ETH and SOL NFTs with no gas fees and subsidized gas on withdrawals. Sign up at FTX.US today. - I.D.E.A.S. 2022 by CoinDesk facilitates capital flow and market growth by connecting the digital economy with traditional finance through the presenter’s mainstage, capital allocation meeting rooms and sponsor expo floor. Use code BREAKDOWN20 for 20% off the General Pass. Learn more and register at coindesk.com/ideas. - “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 “The Now” by Aaron Sprinkle and “The Life We Had” by Moments. Image credit: Noam Galai/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.
0:15.0	The breakdown is sponsored by nexo.io, circle, and FtX, and produced and distributed by CoinDesk.
0:22.8	What's going on, guys? It is Wednesday, October 12th, and today we are talking about post-narrative
0:28.3	institutionalization, the SEC going after apes, so much going on. I can't wait. But before we
0:35.0	dive into all that, a quick note. There are two ways to listen to the
0:39.0	breakdown. You can hear us on the Coin Desk podcast network, which comes out every afternoon and
0:43.2	features other great Coin Desk shows in addition to the breakdown. Or you can listen on the
0:47.2	breakdown only feed, which comes out a few hours later in the evening. Wherever you listen,
0:51.3	I would so appreciate it if you would take the time to leave a five-star rating or a review.
0:56.5	It makes a big difference and I really appreciate it.
0:58.9	Also, a disclosure, as always.
1:00.6	In addition to them being a sponsor of the show, I also work with FTX.
1:04.2	Finally, I want to tell you about CoinDesk's new event, the investing in digital enterprises and asset summit or ideas.
1:10.8	Ideas is designed to facilitate capital flow and market growth by connecting the digital
1:14.9	economy with traditional finance.
1:16.9	Join CoinDesk October 18th and 19th in New York City for a 360-degree investment experience
1:22.1	where you can source and invest in the next big deal in digital assets.
1:26.1	Use code breakdown 20 for 20% off a general pass
1:28.8	and register today at coin desk.com slash ideas. All right, folks, well, listen, I have been
1:34.3	planning on doing a crypto catch-up, but good Lord, was there a flurry of news yesterday?
1:39.5	Let's start with the good stuff, adoption and the latest in post-narrative institutionalization.
	...

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