States Are Proposing Mining Incentives as Big Oil Taps Bitcoin Mining for Environmental Gains

The Breakdown

Blockworks

Investing, Business

4.8 • 806 Ratings

🗓️ 19 February 2022

⏱️ 14 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

This episode is sponsored by Nexo, Arculus, and FTX US. On this edition of the “Weekly Recap,” NLW looks at: a new valuation for Circle a new token fund from Sequoia The FBI’s new crypto enforcement division ConocoPhillips partners with bitcoin mining to reduce flaring - Nexo is a powerful, all-in-one crypto platform where you can securely store your crypto. Invest, borrow, exchange and earn up to 18% APR on Bitcoin and 20+ other top coins. Insured for $375M. Audited in real-time by Armanino. Rated excellent on Trustpilot. Get started today at nexo.io. - Arculus™ is the next-gen cold storage wallet for your crypto. The sleek, metal Arculus Key™ Card authenticates with the Arculus Wallet™ App, providing a simpler, safer, and more secure solution to store, send, receive, buy, and swap your crypto. Buy now at getarculus.com. - 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. - 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 editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Vision” by OBOY. Image credit: Photo by Andrew Burton/Getty Images News, 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, Arculus, and FtX, and produced and distributed by CoinDesk.
0:22.6	What's going on, guys? It is Saturday, February 19th, and that means it's time for the weekly
0:27.7	recap. This weekend, we are talking about some big new investment rounds and funds. We're talking about a new
0:34.5	FBI division, and we're talking about some interesting new developments
0:38.3	on the mining side. Before that, however, if you are enjoying the breakdown, please go subscribe
0:44.0	to the show, give it a rating, give it a review, or if you want to get deeper into the conversation,
0:48.8	join the Breakers Discord. You can find that link in the show notes, or you can go to bit.ly slash breakdown pod.
0:56.7	Finally, as always, in addition to them being a sponsor of the show, I also work with FTX.
1:03.2	So this week is a true weekly recap, where we're going to go through a bunch of different areas of the crypto industry, talk about maybe a few things that we've missed, and let's start with institutions. So, briefly recapping, some things we've discussed
1:16.7	in this area on the show this week. First, of course, Jamie Diamond's JPMorgan entered the
1:22.7	Metaverse. GPM opened the Onyx Lounge in Decentraland, Onyx being the name of their crypto division,
1:29.3	and basically it was just there for people to hang out.
1:32.4	More than anything, it was clearly a sign of their commitment to the space
1:36.4	as they also simultaneously released a research report about the Metaverse
1:41.2	that was aimed at helping corporations and brands who are getting more
1:45.1	interested in the space figure out what was hype and what was real.
1:49.4	Speaking of institutions and brands getting into the Web 3 slash Metaverse space,
1:55.3	the New York Stock Exchange made some headlines for filing a number of NFT-related trademarks,
2:00.6	which they said clearly were defensive.
2:02.7	They weren't necessarily an indication that the NYSE was going to start an NFT exchange, but
	...

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