THE HASH: Bitcoin Tops $23K Amid US Recession and Facebook Parent Meta Loses $2.8B on Metaverse Division in Q2
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 28 July 2022
⏱️ 29 minutes
🧾️ Download transcript
Summary
The most valuable crypto stories for Thursday, July 28, 2022
Gross domestic product declined at an annualized pace of 0.9% in the second quarter, marking two consecutive quarters of economic contraction. "The Hash" team discusses what that means for the crypto market. Plus, a closer look at Meta Platform’s latest earnings results.
See also:
Facebook Parent Meta Loses $2.8B on Metaverse Division in Q2
Bitcoin Market Awaits US GDP After Biggest Single-Day Gain in 6 Weeks
This episode was edited by Michele Musso and our executive producer is Jared Schwartz. Our theme song is “Neon Beach.”
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Transcript
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| 0:00.0 | This is the hash podcast. |
| 0:09.8 | Stay informed with the latest on Bitcoin, ETH, the Metaverse, Web3, and more, |
| 0:14.6 | with stories that matter to the crypto world, all on the hash for your ears. |
| 0:20.5 | You're listening to the Coin Desk Podcast Network. |
| 0:24.8 | Hello, welcome to The Hash. |
| 0:26.6 | It's Thursday or Friday Light, as we like to call it, here on the hash. |
| 0:30.5 | I'm Will Foxley. |
| 0:31.4 | I'm joined today by Adam B. Levine, Sandali, Halaganama, and Christy Harkin over in our tech corner. |
| 0:38.7 | Looks like you're on the road today, Chrissy. |
| 0:40.1 | What are you up to? |
| 0:40.9 | Yeah, I am in Montreal in La Belle Provence of Quebec. |
| 0:45.5 | There we go. |
| 0:46.1 | There we go. |
| 0:46.7 | I'm actually kicking it off with the first story of the day. |
| 0:49.8 | Talking about GDP and inflation concerns, is it a recession or is it not? We'll have to go around |
| 0:54.9 | the horn on that one. Looks like US GDP growth for this last quarter came in, little under the |
| 1:00.7 | weather, down 0.9%. It's the technical definition for recession with two different quarters |
| 1:07.7 | being negative GDP growth. The White House and other officials in the U.S. |
| 1:12.1 | government are saying, well, there's some other indicators that lead us to believe that we are |
| 1:15.4 | not in recession, including a very strong labor market. This comes, of course, after yesterday's |
| 1:19.9 | a 75 basis point increase at the federal funds rate to combat inflation. Inflation is still |
| 1:26.1 | hovering around 9% according to last month's figures. |
... |
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