Tornado Cash Sanctions: The Most Significant Crypto Overreach by the US Government Yet?

The Breakdown

Blockworks

Investing, Business

4.8 • 786 Ratings

🗓️ 13 August 2022

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

This episode is sponsored by Nexo.io, Chainalysis, FTX US and NEAR. On this edition of the “Weekly Recap,” NLW reflects on the July inflation data as well as the U.S. Treasury Department’s sanctions on Tornado Cash. - Nexo is a security-first platform where you can buy, exchange and borrow against your crypto. The company safeguards your crypto by relying on five key fundamentals including real-time auditing and insurance on custodial assets. Learn more at nexo.io. - Chainalysis is the blockchain data platform. We provide data, software, services and research to government agencies, exchanges, financial institutions and insurance and cybersecurity companies. Our data powers investigation, compliance and market intelligence software that has been used to solve some of the world’s most high-profile criminal cases. For more information, visit www.chainalysis.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. - NEAR is a simple, revolutionary Web3 platform for decentralized apps, created by developers for developers. More than 700 projects are now building on NEAR’s fast, secure and infinitely scalable protocol, from DeFi apps to play-and-earn games, NFT marketplaces and more. Start your developer journey now by visiting NEAR at near.org. - I.D.E.A.S. 2022 by CoinDesk facilitates capital flow and market growth by connecting the digital economy with traditional finance through the presenter’s mainstage, capital allocation meeting rooms and sponsor expo floor. Use code BREAKDOWN20 for 20% off the General Pass. Learn more and register: coindesk.com/ideas - “The Breakdown” is written, produced by and features Nathaniel Whittemore, aka NLW, with today’s editing by Eleanor Pahl and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsors is “The Now” by Aaron Sprinkle. 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.
0:09.2	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:14.8	The breakdown is sponsored by nexo.io, chain aliasis, and FtX, and produced and distributed by CoinDesk.
0:22.8	What's going on, guys? It is Saturday, August 13th, and that means it's time for the weekly recap.
0:28.8	One note before we dive in, there are two ways to listen to the Breakdown podcast.
0:33.2	You can find this on the CoinDesk Podcast Network, alongside a number of other great shows,
0:37.8	which comes out every afternoon.
0:39.7	Alternatively, if you just want to hear the breakdown, you can find the breakdown-only feed as well,
0:44.1	which comes out just a few hours later in the evening.
0:46.7	Wherever you're listening, I so appreciate if you would take the time to leave a rating
0:50.5	or review, it makes a huge difference in new people finding the show.
0:53.7	Also, a disclosure as always. In addition to them being a sponsor of the show, I also work with FTX.
0:59.2	And finally, this week, I am very excited to welcome NEAR as an additional sponsor.
1:03.8	NIR is a revolutionary yet simple Web3 platform for building decentralized apps.
1:08.2	Designed by developers for developers, over 700 projects are now building
1:11.7	on NIR's fast, secure, and scalable protocol. Whether you're a crypto-native launching
1:16.0	defy apps, NFT marketplaces, and play and earn games, or looking to migrate your project
1:20.5	from Web 2, NIR makes it easy to build Web 3 for the masses. NIR offers developers a variety
1:25.6	of tools, resources, and support for building apps,
1:28.2	empowering communities, and creating a more fair, inclusive, and equitable future. Start your
1:32.5	Web3 developer journey now by visiting NIR at NIR.org. So, this was a hugely significant week,
1:39.4	guys, and I think in some ways the best way to think about it is a preview of the fall.
	...

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