Why Today’s News Tells You Everything You Need to Know About the 2022 Crypto Bear Market

The Breakdown

Blockworks

Investing, Business

4.8 • 786 Ratings

🗓️ 21 September 2022

⏱️ 21 minutes

🔗️ Recording | iTunes | RSS

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Summary

This episode is sponsored by Nexo.io, Chainalysis and FTX US. On today’s episode, NLW breaks down the day’s news in terms of how it demonstrates the archetypes of the 2022 crypto bear market, looking at: Market moves A DeFi hack CBDCs Regulatory enforcement Regulatory positivity Regulatory weirdness Pre-narrative institutionalization Post-narrative institutionalization A slew of random fundraising Innovation that may drive a bull market - Nexo is a security-first platform where you can buy, exchange and borrow against your crypto. The company ensures the safety of your funds by employing five key fundamentals including real-time auditing and recently increased $775 million 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. - 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 at coindesk.com/ideas. - 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 “Razor Red” by Sam Barsh and “The Life We Had” by Moments. Image credit: Nuthawut Somsuk/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 Tuesday, September 20th, and today is weirdly an archetypically
0:28.5	typical standard day in bare market crypto. Before we explore why that is, however, if you're
0:34.8	enjoying the breakdown, please go subscribe to it, give it a rating,
0:37.8	give it a review, or if you want to dive deeper into the conversation, come join us on the
0:41.7	breakers discord. You can find a link in the show notes or go to bit.ly slash breakdown pod.
0:46.7	Also, a disclosure, as always, in addition to them being a sponsor of the show, I also work with
0:50.9	FTX. All right, folks, happy Tuesday.
0:55.3	Listen, I had a housing show planned, and there's a ton in that market that is super interesting
1:01.6	to me right now.
1:03.0	For one, we've just had the ninth consecutive decline in home builder sentiment, which
1:06.9	represents the longest stretch of declines heading back to 1985, and part of that is likely
1:12.0	driven by the fact that the average 30-year mortgage is now around 6.3%, which is more than double
1:17.3	the average rate a year ago. That's the largest change on record with data going back to 1975.
1:22.9	We've also got high-flying companies in the housing space falling prey to the sort of high-growth,
1:28.1	no-profitability tech models that characterize the last decade of venture-backed companies.
1:33.0	We've also got inventory issues, supply issues, and all of the things that make housing
1:37.8	such a fascinating microcosm of the moment of transition we're living through more broadly.
1:42.9	So I will definitely be doing that show later this week.
1:45.6	But as I was reviewing the crypto news this morning,
	...

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