THE HASH: How Retail Investors Fared After FTX's Collapse; Litecoin Network Gets Its First NFTs

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4.7 • 698 Ratings

🗓️ 21 February 2023

⏱️ 24 minutes

🔗️ Recording | iTunes | RSS

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Summary

The most valuable crypto stories for Tuesday, Feb. 21, 2023. "The Hash" team covers the biggest crypto headlines of the day, including a new Bank for International Settlements report that reveals that while most crypto app users worldwide lost money on their bitcoin holdings after last year's collapses of the Terra ecosystem and the FTX exchange, investors outside of major economies took the biggest hit. Plus, developers are forking Bitcoin ordinals to give older proof-of-work networks such as Litecoin their first set of non-fungible tokens (NFTs). See also: Retail Crypto Investors in Emerging Economies Hit Hardest by FTX, Terra Collapses: BIS Litecoin Network Gets Its First NFTs After Developer Forks Bitcoin Ordinals - This episode has been edited by Ryan Huntington. The senior producer is Michele Musso and the executive producer is Jared Schwartz. Our theme song is “Neon Beach.” - Are you building the next big thing in Web3? Apply to pitch your project live on stage at the CoinDesk Pitchfest Powered by Google Cloud at Consensus, the industry’s most influential event happening April 26-28 in Austin, Texas. Apply by March 31 for a chance to be among the twelve finalists selected to pitch. Visit consensus.coindesk.com/pitchfest for more information. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:00.0	This is the hash podcast.
0:11.2	Stay informed with the latest on Bitcoin, ETH, the Metaverse, Web3, and more,
0:16.1	with stories that matter to the crypto world, all on the hash for your ears.
0:23.1	You're listening to the Coin Desk podcast network. Hey, welcome back to CoinDest TV. You're watching The Hash here.
0:30.4	We're going to get you up to speed on the day's news. And I'm Zach Seward, and I'm joined by
0:35.1	Wendy O, Will Foxley, and Anabitikova live in the New York studio.
0:40.3	You'll love to see it.
0:41.4	That is amazing.
0:42.6	We'll get to her in a bit, but Will's going to start us off with the first story of the day.
0:45.9	Will, take it.
0:47.4	Happy Tuesday, guys.
0:48.3	We got some bad news to start off the week.
0:50.4	That's just how it goes. According to the BIS, if you bought Bitcoin last night,
0:58.4	you probably are down bad, which is a pretty fair assumption. According to this new bank report that came out, Monday, the BIS looked at a bunch of different exchanges, a bunch of different
1:02.8	people who are buying Bitcoin across different jurisdictions, across different income levels.
1:07.3	I found out that most people who are minnows in the sea of Bitcoin and crypto
1:12.3	probably sold and sold into losses last year while Wales typically were gobbling up
1:18.2	and selling these large ports for USD in Roe K. There's a few assumptions in here that we should
1:23.8	definitely unpack. We'll get to those in a second, but I do want to get this headline over to Zach just to start, because it is an interesting thing to see in terms of like
1:31.6	crypto's adoption narrative, right? If we have a bad year and prices go down, people take losses,
1:38.2	it kind of hurts the ability for people to want to buy in next time. And this number really looks
1:42.8	rough. Zach, throw it up to you. Picking on me,
	...

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