The Industry Coalesces Around Ripple’s Battle Against the SEC

The Breakdown

Blockworks

Investing, Business

4.8 • 786 Ratings

🗓️ 5 November 2022

⏱️ 17 minutes

🔗️ Recording | iTunes | RSS

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Summary

This episode is sponsored by Nexo.io, Circle and FTX US. On this edition of the “Weekly Recap,” NLW looks at: Reports that Twitter is shelving a crypto wallet project Instagram bringing creation and selling of NFTs natively to its platform Coinbase and Blockchain Association file friend of the court briefs in SEC-Ripple case Grayscale survey on consumer attitudes towards crypto - 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. - 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. - 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 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 “War” by Enoch Yang. Image credit: Anna Moneymaker/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.
0:09.3	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.
0:22.9	What's going on, guys? It is Saturday, November 5th, and that means it's time for the weekly recap.
0:28.8	One note before we dive into that, though, there are two ways to listen to the Breakdown Podcast.
0:34.3	You can listen on the CoinDesk podcast Network feed, which comes out every afternoon and features
0:38.3	other great Coin Desk shows, or you can listen on the breakdown only feed, which comes out a few
0:42.3	hours later in the evening.
0:44.0	Wherever you are listening, I would so appreciate it if you would take the time to leave
0:47.3	a rating or a review, it makes a huge difference, and I appreciate each and every one.
0:52.0	Lastly, a disclosure as always.
0:53.8	In addition to them being a sponsor of the show, I also work and every one. Lastly, a disclosure as always, in addition to them being a
0:54.7	sponsor of the show, I also work with FTX. All right, guys, well, for this weekly recap,
0:59.5	there is so much news that we didn't have a chance to explore, so let's try to cram the most
1:04.0	important stuff in. One of the big themes of the week is what the heck is going on with Web2.
1:09.6	Now, we recently talked about Reddit's digital
1:11.6	collectibles, aka NFTs, and how they had brought a whole new group of users in. Why the rebranding
1:17.8	maybe mattered and why it suggested that these sort of fun avatars actually might have legs.
1:23.0	However, of course, one of the things that this week will be known for in the future is as the
1:27.3	first week that Elon Musk was in the future is as the first
1:27.6	week that Elon Musk was at the helm of Twitter. On that front, it has been a week of tremendous
1:32.7	change. Earlier on the week, I did the TLDR up to that point, including the back and forth
	...

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