The SEC and DOJ Are Reportedly Investigating DCG

The Breakdown

Blockworks

Investing, Business

4.8 • 786 Ratings

🗓️ 10 January 2023

⏱️ 14 minutes

🔗️ Recording | iTunes | RSS

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Summary

On today’s episode, NLW catches up on: Why bitcoin’s price went up firmly above $17,000 The latest Binance concerns Reports the Securities and Exchange Commission and Justice Department are investigating DCG’s internal transfers (CoinDesk is an independent subsidiary of DCG.) 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 - Join the most important conversation in crypto and Web3 at Consensus 2023, happening April 26–28 in Austin, Texas. Come and immerse yourself in all that Web3, crypto, blockchain and the metaverse have to offer. Use code BREAKDOWN to get 15% off your pass. Visit https://consensus.coindesk.com/register/?utm_campaign=thebreakdown&utm_content=c23&utm_medium=marketing&utm_source=podcast&utm_term=organic&utm_id=c23 - “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. Image credit: z_wei/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.
0:15.3	The breakdown is produced and distributed by CoinDesk.
0:20.4	What's going on, guys?
0:21.6	It is Monday, January 9th, and today we are talking about news that DCG is being
0:26.7	investigated by the DOJ.
0:29.3	Before we get into that, however, if you are enjoying the breakdown, please go subscribe
0:32.6	to it, give it a rating, give it a review, or if you want to dive deeper into the
0:36.0	conversation, come join us on
0:37.7	the Breakers Discord. You can find a link in the show notes or go to bit.ly slash breakdown pod.
0:43.3	All right, friendos, happy Monday. And if you've been on Twitter pretty much at all this year,
0:48.4	there's an image I'm sure you've seen. It's a line drawing of a guy screaming with excitement
0:52.7	with a little green arrow saying
0:54.3	1% up.
0:55.9	The gag, of course, is that after all of the crap that we've been waiting through, even
1:00.0	tiny positive market movements feel, well, miraculous.
1:03.8	I have a feeling this is going to be one of the key memes of 2023, and it certainly
1:07.5	captures a lot of the energy over the last couple days.
1:12.4	On Sunday, Bitcoin broke its painful range-bound streak below 17K. The price of BTC moved up by 1.3% on the day and
1:19.5	finally up through the $17,000 mark where it remains right now. As it did so, it dragged the total
1:24.9	crypto market cap up by about 3% alongside it, and capped
1:28.6	off a relatively solid green week. Now, analysts pointed out that the charts still look
	...

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