Trump’s Crypto Grift Is Imploding
Bulwark Takes
The Bulwark
4.7 • 1.1K Ratings
🗓️ 6 February 2026
⏱️ 13 minutes
🧾️ Download transcript
Summary
Tim Miller and Catherine Rampell give their takes on the crypto crash, why Bitcoin and meme coins are plunging, and what the sell-off says about speculation, interest rates, and the broader economy. They break down why crypto hasn’t held up as an inflation hedge, how rising rates are squeezing risky assets, and why Trump-world’s deep exposure to crypto and speculative stocks suddenly looks a lot more precarious.
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Hey, everybody. It's Tim Miller from the bulwark here with Catherine Rampel, our economics guru, |
| 0:06.2 | writer of the receipts newsletter. And I had to grab her because Catherine, I've got a, |
| 0:10.4 | I got a friend in town visiting. And I don't know if you've anybody like this in your life, |
| 0:15.2 | but he's kind of down about the state of affairs. You know, he's pretty angry about things |
| 0:20.2 | that are happening in the news. And he's mentioning that to me. And there have been only two things this week. I've been able to mention to him that brought a look, the glimmer back into his eye. The first, have you seen a video of the people shouting, fuck ice at the wrestling match? I have, yes. Let's pull that up for everybody else really quick. |
| 0:38.6 | Now the face in the eyes of the champion. |
| 0:40.7 | A lot, |
| 0:42.5 | white, |
| 0:42.7 | more, |
| 0:43.0 | ice, |
| 0:43.7 | go, |
| 0:44.1 | ice, |
| 0:44.7 | go, |
| 0:46.1 | ice, |
| 0:46.6 | go, |
| 0:48.1 | white, |
| 0:48.7 | a little glimmer of hope there. |
| 0:52.6 | That's nice. |
| 0:53.2 | That makes you feel good, doesn't it? |
| 0:54.6 | Like a wrestling match. |
| 0:55.9 | That feels like the message is penetrating. |
| 0:58.9 | I will say the people who go to wrestling matches are not necessarily like the hardcore tree-hugging far-left commie types that I wouldn't expect. I mean, expect not trying to stereotype wrestling viewers but like you know it's not the whole foods crowd yes it's a little bit more of a mixed demo so that's encouraging that made him smile the other thing now this one's a little bit more in the Sean and Freud space is just the absolute crash of Bitcoin and other cryptocurrencies and their associated ETFs. |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from The Bulwark, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of The Bulwark and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.

