Welcome back to the breakdown, an everyday analysis breaking down the most important stories in Bitcoin, crypto, and beyond.

This episode is sponsored by BitStamp and Cipher Trace.

The breakdown is produced and distributed by CoinDesk.

And now, here's your host, NLW.

Welcome back to The Breakdown.

It is Tuesday, June 9th, and today's main topic is going to be the Robin Hood rally in the stock markets.

We're going to talk about what it is, whether

it's real, and what it means for Bitcoin. Before that, however, the breakdown brief.

First up on the brief is Saudi Arabia's central bank pumping $13 billion of bank liquidity

into the markets using blockchain. So what happened? Like every other central

bank in the world, the Saudi Arabian central bank right now is primarily concerned with

liquidity in capital markets, and so introduced an injection of $13 billion worth of capital

to a set of local banks. The key detail for our purposes

is that they did this in part via a blockchain system. Now, they didn't give any info about

which banks got what or how much was actually dispersed through blockchain, so theoretically

it could be a much smaller trial. However, the key detail here is that blockchain was used in this very

significant and important capacity. Why is this interesting? Well, as you guys know, I usually

don't cover the technology side of the blockchain industry. I'm much more fundamentally

interested in the money side of it, right? How blockchain enables new types of digital money and

in specific Bitcoin, obviously. However, this idea of blockchain as a disruptive force in banking

has been a longstanding narrative in this industry. It has attracted capital to this industry.

And even though I believe that actually in a lot of ways, the quote-unquote

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