Sherrod Brown Tells SBF, ‘Show Up or Get Subpoenaed’

The Breakdown

Blockworks

Investing, Business

4.8 • 786 Ratings

🗓️ 9 December 2022

⏱️ 18 minutes

🔗️ Recording | iTunes | RSS

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Summary

This episode is sponsored by Nexo.io, Circle and Kraken. Today on “The Breakdown,” NLW looks at the shift in tone around SBF following the FTX collapse. Both the House and the Senate are holding hearings on FTX next week, and have confirmed that if former FTX CEO Sam Bankman-Fried doesn’t testify voluntarily, he could be compelled via subpoena. The show also covers Sen. Elizabeth Warren’s fight against Silvergate and crypto-serving banks, as well as Rep. Ritchie Torres’ recommendation for an investigation into Gary Gensler and the Securities and Exchange Commission’s conduct and failure to look at FTX. - Nexo is a security-first platform where you can buy, exchange and borrow against your crypto. The company ensures the safety of your funds and keeps innovating with products like the Nexo Wallet - a non-custodial smart wallet that allows you to create your Web3 identity. Get early access at nexo.io/wallet. - Circle, the sole issuer of the trusted and reliable stablecoin USDC, is our sponsor for today’s show. USDC is a fast, cost-effective solution for global payments at internet speeds. Learn how businesses are taking advantage of these opportunities at Circle’s USDC Hub for Businesses. - Kraken, the secure, trusted digital asset exchange, is our sponsor for today's show. Kraken makes it easy to instantly buy 185+ cryptocurrencies with fast, flexible funding options. Your account is covered by regular Proof of Reserves audits, industry-leading security and award-winning Client Engagement, available 24/7. Sign up and trade today at kraken.com/breakdown. - Cryptowatch Desktop levels up your trading game. Trade like a pro across all your favorite spot and futures exchanges over a single low-latency connection. Personalize your dashboard with fully-customizable layouts, ladder trade instantly, price watching and market insights. Visit Cryptowatch.com. - “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 "Back To The End" by Strength To Last. Image credit: Tom Williams-Pool/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 sponsored by nexo.io, circle, and crack it, and produced and distributed by CoinDesk.
0:22.8	What's going on, guys? It is Thursday, December 8th, and today we are talking about how and why
0:28.1	the noose is tightening. Before we get to that, however, if you are enjoying the breakdown,
0:32.7	please go subscribe to it, give it a rating, give it a review, or if you want to dive deeper
0:36.2	into the conversation,
0:41.9	come join us on the Breakers Discord. You can find a link in the show notes or go to bit.ly slash breakdown pod. I'm also excited to share that today CryptoWatch is an additional sponsor.
0:47.7	With CryptoWatch desktop, you can level up your trading game. Trade like a pro across
0:52.2	all your favorite spot in futures exchanges over a single
0:54.7	low latency connection. Personalize your dashboard with fully customizable layouts,
0:59.3	latter trade instantly, price watching, and market insights. Pack your screen with as many
1:03.5	live market feeds as you like because CryptoWatch desktop is built for high performance,
1:07.8	with low CPU and memory usage to keep you running all day without running hot.
1:11.8	Everything you need to gain a competitive edge is in one place with CryptoWatch desktop.
1:16.0	Visit CryptoWatch.com to download it today. And thanks to those guys for sponsoring today's show.
1:21.6	All right, today we are back on the crypto side of the world where the fallout, particularly the
1:25.5	regulatory fallout from FTX, continues to
1:27.8	absolutely dominate the discourse. Where we left off, the main discussion point was whether or not
1:33.5	Sam was going to testify before Congress. If you remember, on Friday, December 2nd,
1:38.8	Congresswoman Maxine Waters, the chairwoman of the House Committee on Financial Services, tweeted
1:43.0	to Sam, we appreciate that you've been candid in your discussions about what happened at FTX.
	...

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