The Breakdown

On today’s episode, NLW digs into December’s just-released CPI numbers. For the sixth month in a row, year-over-year inflation declined. For the first time in more than two years, month-over-month inflation declined. For many, this confirms a Federal Reserve shift back to raising rates by 25 basis points at the FOMC’s next meeting at the end of this month.  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 consensus.coindesk.com. - “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 sponsor today is “Swoon” by Falls. Image credit: Nuthawut Somsuk/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.

Crypto 2023 – like Crypto 2022, but angrier. This week, Gemini co-CEO Cameron Winklevoss accused Genesis, DCG and DCG CEO Barry Silbert of fraud in a major escalation of their fight over frozen funds. Silbert and DCG, CoinDesk’s parent, responded with their own letter and Q&A arguing that Genesis and DCG are fundamentally different entities. NLW covers the war of words and the community’s response to it.  - 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 consensus.coindesk.com. - “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 sponsor today is “Swoon” by Falls. Image credit: rudall30/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.

On today’s episode, NLW looks at the latest communiques from Federal Reserve officials, including comments by Atlanta Fed President Raphael Bostic and San Francisco Fed President Mary Daly, as well as a speech on Tuesday by Federal Reserve Chair Jerome Powell. The message is “higher for longer” even if the markets don’t agree.  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. Music behind our sponsor today is “Foothill Blvd” by Sam Barsh. Image credit: Morrison1977/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.

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.

On this Long Reads Sunday, NLW reads: The worst of Bitcoin mining in 2022 by Zack Voell  What Will It Take for Bitcoin Mining Companies to Survive in 2023? By George Kaloudis  Bitcoin Mining: A Positive or Negative Indicator for the Future of Crypto? By Daniel Kuhn  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 today’s editing by Michele Musso and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Image credit: Yuichiro Chino/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8. 

On the first Weekly Recap of 2023, NLW hones in on the political impasse in Washington D.C. and explores whether a divided Congress (and a divided Republican party within Congress) might be good for crypto in a year that politicians are feeling animosity towards the industry.  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 today’s editing by Michele Musso and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Image credit: mathisworks/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8. 

NLW profiles another brutal week in the crypto computation and cleanup following the disasters of 2022.    He examines:   Celsius ex-CEO Alex Mashinsky sued by NYAG 3AC subpoenaed via Twitter Silvergate laying off 40%  Genesis laying off 30%  And more  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 Disclaimer: DCG is the parent company of CoinDesk.  - “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with today’s editing by Michele Musso and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Image credit: CSA Images/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8. 

  In today's episode, NLW looks at the macro landscape that will set the tone for the markets in 2023. According to the minutes of the December Federal Open Markets Committee Meeting, released on Wednesday, the Federal Reserve is concerned about investor enthusiasm regarding a theoretical future pivot undermining monetary policy tightening. 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 today’s editing by Michele Musso and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Image credit: Drew Angerer/Saff/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.  

On today’s episode, NLW discusses Sam Bankman-Fried and FTX, including his bail hearing from December, the unusual request to keep his bail bond-backers private, and his not guilty plea from yesterday’s arraignment.  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 today’s editing by Michele Musso and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Image credit: Michael M. Santiago/Staff /Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.  

Bitcoin celebrates its birthday today! This is also the first Breakdown of the year. NLW discusses the news and events from the past couple weeks, including the arrest of Mango Markets exploiter Avraham Eisenberg as well as the escalating feud between Gemini and the Genesis/DCG leadership.  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 today’s editing by Michele Musso and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Image credit: erhui1979/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.