In this daily podcast, Bloomberg’s reporting team teases out what’s actually important in the crypto conversation. Led by crypto editor stacy-marie ishmael, the show draws on reporters and editors around the world and credible voices from across the industry. Episodes cover everything from regulation to NFTs to DeFi to the environmental considerations surrounding an asset class shaping the future of finance.
Fri, May 12, 2023
Coming soon: When nerdy gamer Sam Bankman-Fried rocketed to fame as the world’s richest 29-year-old, he pledged to donate his billions to good causes. But then his crypto exchange FTX collapsed Billions of dollars were missing, and Sam was in handcuffs. Those who knew him were left wondering — who was Sam really? A well-meaning billionaire who made a mistake? Or a calculating con man? From Wondery and Bloomberg, the makers of The Shrink Next Door, comes a new story of incredible wealth, betrayal and what happens when “doing good” goes really really bad. Learn more here: https://podcasts.apple.com/us/podcast/spellcaster-the-fall-of-sam-bankman-fried/id1685258534 See omnystudio.com/listener for privacy information.
Thu, March 16, 2023
It’s been another wild week of financial mayhem connected to crypto. But this time the crisis focused on banks. It started earlier this month [March], when Silvergate Capital shut down operations. The California-based bank serviced various crypto companies like Coinbase and Gemini. But its most notorious clients included the now-bankrupt crypto exchange FTX and its sister firm Alameda. As these two giants faltered, Silvergate suffered a series of financial difficulties and fell under intense regulatory scrutiny, leading to its eventual shut down. Then, last Friday, one week ago now, the tech and startup-focused Silicon Valley Bank collapsed. It was the largest bank failure since 2008, and incited investor panic. By late last Sunday, another domino had fallen: New York State regulators announced they were taking possession of Signature Bank . It was moving to retreat from crypto, but was still known for having some ties to the digital asset industry, at one point even launching a crypto-payments platform. This was the third-largest bank failure in the US to date. Bloomberg reported that regulators took action after they “lost faith in management.” This trio of recent closures is another blow to crypto - leaving the industry nearly cut off from the fiat banking sector. All the while a Bitcoin rally ensued , but has since cooled a bit. So. In the aftermath of one of the biggest weeks in finance so far this year, how has the crypto industry fared? And how does it move forward? Bloomberg senior executive editor Chris Nagi joins this episode. Listen to Bloomberg Crypto on the iHeartRadio App , Apple Podcasts or Spotify . Subscribe to
Thu, March 16, 2023
Listen to Bloomberg Crypto on the iHeartRadio App , Apple Podcasts or Spotify . Last year, just before the crypto winter had hit in earnest, Princeton University opened up “The Center for the Decentralization of Power Through Blockchain Technology”. The Center was funded in part by a $20 million gift from prominent Princeton alumni including Mike Novogratz, CEO of Galaxy Investment Partners, and Joe Lubin, co-founder of the Ethereum crypto platform. The university says the Center focuses on the software engineering that makes blockchain technology work, finds innovative uses for decentralized systems and considers how it might affect our collective future. One year on, as the crypto winter persists, what’s the Center up to these days? Bloomberg reporter Francesca Maglione joins this episode to discuss the role universities are playing in studying blockchain. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Wed, March 15, 2023
Listen to Bloomberg Crypto on the iHeartRadio App , Apple Podcasts or Spotify . Some might argue that the popularity of NFTs faded as quickly as it rose. NFTs boomed in early 2022 when the crypto mania was at fever pitch. But a steep decline in sales and prices quickly followed, as 2022’s crypto winter set in, and digital asset bankruptcies piled up, culminating with the collapse of FTX late last year. But as we move into 2023, some crypto traders and NFT owners are cautiously optimistic, eyeing a Bitcoin bump despite the last year. Former bond traders Ovie Faruq and Mike Anderson recently sold 72 iconic Bored Ape Yacht Club NFTs for around 78 Eth each, which translated to roughly $9.25 million at the time. Bloomberg reporter Abhinav Ramnarayan and Ovie Faruq, Co-founder at Canary Labs, join senior editor Anna Irrera to discuss the ins and outs of trading NFTs. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Tue, March 14, 2023
The last 12 months or so have been a particularly grueling season for crypto. And as we head into the spring months of 2023, we’re getting a better sense of what the slump in crypto prices has meant for the companies that shape the fledgling industry. One of the biggest consequences digital asset firms are now finding is the need to make job cuts. Since the start of 2023 , more than 15 crypto companies have posted labor force cuts including big names like Galaxy Digital, Genesis Global, and Chainanalysis. Some - like Silvergate Capital and crypto lender Amber Group - have cut as much as 40% of their workforce. While that trend is not universal – Circle CEO Jeremy Allaire spoke with Bloomberg a few weeks ago, and said Circle is actually hiring people –what do these cuts say about the general health of crypto? Bloomberg reporter Hannah Miller joins to discuss the latest in the crypto workforce. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Mon, March 13, 2023
Argentina is one of the countries with the highest rates of inflation in the world - currently hovering at close to 100%. The nation is also one of the countries with the biggest population of crypto enthusiasts. In this environment, digital currencies can be perceived as a safer bet than the peso. This popular enthusiasm for digital tokens has faced pushback from the country’s central bank. But ever since the crypto winter has stepped up volatility, and exchanges like FTX collapsed, many Argentinians likely feel squeezed: with fewer ‘safe’ places to protect their life savings from inflationary pressures. Bloomberg’s Nacho Olivera Doll reported on a recent study by Buenos Aires-based Wunderman Thompson - it found that nearly two-thirds of the nation’s crypto investors use digital currencies as a way to protect their savings. He joins this episode to discuss. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Fri, March 10, 2023
Legal battles, circling regulators and a troubled bank. It's all happening in crypto this week. Court is in session as Grayscale challenges the SEC over the prospects for a Bitcoin ETF, while themselves facing a lawsuit filed by FTX’s Alameda Research. Voyager won a key court ruling that would a proposed sale to to Binance US to proceed despite the objections of multiple federal and state regulators. And speaking of regulators: US officials showed up at Silvergate’s California headquarters as the troubled crypto-friendly bank tries to salvage what’s left of its business. Bloomberg reporters Justina Lee & Emily Nicolle join senior editor Anna Irrera to discuss the biggest stories in crypto this week. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Thu, March 09, 2023
Bloomberg’s stacy-marie ishmael interviewed Jeremy Allaire, Chief Executive Officer of Circle Internet Financial Ltd . to discuss stablecoins and his views on crypto regulation. The CEO of the Boston-based firm behind the second-largest stablecoin, USDC, told Bloomberg that the US Securities and Exchange Commission is “not the right regulator” for the tokens. So who should regulate them? Listen to this episode to find out. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Wed, March 08, 2023
Listen to Bloomberg Crypto on the iHeartRadio App , Apple Podcasts or Spotify . Voyager. Celsius. Genesis. And of course, FTX. All major crypto companies that went bankrupt last year. All names we’ve talked a lot about on this podcast. But even if you’ve heard of these companies, did you know there’s a tax season quirk for US investors who had digital tokens tied up in accounts on these platforms? These investors have lost access to these funds while bankruptcy cases wind through the court system, and in some cases they’re going to have pay taxes on those assets. Bloomberg’s Claire Ballentine , and Bloomberg Tax reporter Lauren Vella join this episode to help crypto investors who are dreading US tax season. We also connect with a crypto investor who owes tax on his losses. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter This podcast is produced by the Bloomberg Crypto Podcast team: Supervising producer: Vicki Vergolina, Senior Producer: Janet Babin, Producers: Sharon Beriro and Muhammad Farouk, Associate Producers: Mo Andam and Ty Butler. Sound Design/Engineer: Desta Wondirad. See omnystudio.com/listener for privacy information.
Tue, March 07, 2023
Over the past few weeks, we've seen US regulators, both federal and state in some cases - take aim at crypto companies with accusations of fraud and unregistered securities offerings. These moves sent shockwaves through the digital asset industry. And the new regulations have also raised concerns about potential over regulation. On the other side of the Atlantic, the UK and EU are taking a different approach. The UK Treasury has recently proposed new rules for crypto-related businesses aimed at stepping up transparency and consumer protection. This, as the planned EU's Markets in Crypto Assets (MiCA) regulation seeks to provide a clear legal framework for digital assets across all member states. Joining senior editor Philip Lagerkranser to discuss the crypto regulation competition across Europe is Bloomberg reporter Emily Nicolle . Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Mon, March 06, 2023
It’s been three months since one of the most influential crypto exchanges collapsed into bankruptcy. FTX’s demise brought with it a wave of financial uncertainty and distress in the crypto industry. But it also had an effect on the small islands where the crypto exchange had established its headquarters: the island nation of the Bahamas . This is not the Caribbean’s first financial crisis. History suggests it won’t be the last. But it is perhaps one of the highest profile losses, and potentially the most damaging. It comes as islands in the region try to diversify away from tourism revenue. The Bahamas had high hopes that an ambitious financial sector would achieve that. But crypto was a big part of that game plan, and now it’s gone. Can the Bahamas fill the gap left in its financial sector? Can the nation still be a hub for digital assets? Bloomberg’s Katanga Johnson joins this episode. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Fri, March 03, 2023
Last month marked the one-year anniversary of Russia’s invasion of Ukraine, which has had a devastating impact on Ukraine's economy, people and landmarks. In this episode, we consider the nuanced role that crypto has played so far in the conflict. Plus, a review of what's happening with Bitcoin miner Marathon Digital: The company was supposed to report earnings this week, but instead announced it’s restating financials from previous quarters. We’ll explain what, if anything, accounting and the price of Bitcoin have to do with prospects for the sector. The show also has the latest on an FTX lieutenant who recently pleaded guilty to various crimes in a New York court. Bloomberg senior editor Dave Liedtka and reporter Emily Nicolle join this episode to discuss. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter This podcast is produced by the Bloomberg Crypto Podcast team: Supervising producer: Vicki Vergolina, Senior Producer: Janet Babin, Producers: Sharon Beriro and Muhammad Farouk, Associate Producers: Mo Andam and Ty Butler. Sound Design/Engineer: Desta Wondirad. See omnystudio.com/listener for privacy information.
Thu, March 02, 2023
Most crypto enthusiasts pride themselves on being tech visionaries. After all, they were among the first to back innovative blockchain technologies and even embrace Web3 and NFTs. Now there’s a new innovation that's captured the public imagination, and it's getting a lot of buzz in the crypto world too. It’s ChatGPT. Late last year , OpenAI's new chatbot sparked a conversation about the future of artificial intelligence. People on the internet were going CRAZY about its ability to craft human-like responses and even ace an exam from Wharton. Ever since, AI-linked crypto tokens have been on a rapid rise. At one point in early February, tokens from decentralized AI companies like SingularityNet and SingularityDAO soared over the span of just a couple of days. But as the fervor grows, so do concerns. And some industry insiders are warning investors against being too bullish. So, what exactly are AI tokens and how can they shape the industry? Bloomberg’s Hannah Miller joins this episode. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Wed, March 01, 2023
The Bank of England and the UK Treasury are moving forward with a plan to launch a digital currency. It’s being called the CBDC, or Central Bank Digital Currency, dubbed (or nicknamed) ' Britcoin .' The action is part of a global effort to stay ahead of various new currency options and prepare for a future in which consumers adopt card payments backed by companies instead of by governments. But, some critics are calling it a "solution in search of a problem", particularly in light of the country's already-strong fintech industry. Senior editor Philip Lagerkranser and reporter Emily Nicolle discuss the implications. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Tue, February 28, 2023
The story of crypto lender Celsius Network’s bankruptcy officially began last summer, when it filed for Chapter 11 and cited a severe liquidity crisis. At the time, FTX and its CEO were still heralded as promising figures in the industry, even as companies and users were struggling to get by in the midst of a grueling crypto winter. But now, we're getting a glimpse of just how bad things were at Celsius, almost from its inception. The recent release of a final independent examiner's report contains a searing account of how the lender may have concealed ineffective risk management and misled customers. In the report, Celsius appears to have failed to properly track assets and liabilities. They also failed to disclose crucial financial information about its native token, CEL, and falsely portrayed the financial state of the company as robust and healthy. It’s a whopping 689-page read. So - what else did it say about Celsius? Bloomberg's Olga Kharif joins this episode to discuss. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Mon, February 27, 2023
In a major twist in the digital-assets world, Bitcoin has added nonfungible tokens (NFTs) to its blockchain. The new protocol that makes them is called “ Ordinals .” And just like anything in crypto, fierce debate has ensued about this on social media. Bitcoin NFT proponents call the move a game-changer. Naysayers worry about potential pitfalls of Bitcoin NFTs — like rising transaction costs and environmental concerns. Higher fees could push Bitcoin away from its primary use as a decentralized currency. Plus, some hard-core Bitcoiners are also concerned that these NFTs could clog up the blockchain. Bloomberg reporters Emily Nicolle & David Pan join this episode and consider how the integration of NFTs impacts the network, Bitcoin and the broader crypto ecosystem. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Fri, February 24, 2023
Coinbase released quarterly earnings this week, providing an etch-a-sketch road map of what’s ahead for digital asset investors. Regardless, the darkening outlook for Coinbase’s business of stablecoins and staking is having an impact. The company had been counting on these business threads to help jump-start growth. But regulators are pushing for increased scrutiny of these offerings. Also this week: A lot of action is happening on Bitcoin. Plus, FTX Japan has resumed withdrawals. Bloomberg Senior Editors Beth Williams & Anna Irrera join this episode to unpack the news of the week. Listen to Bloomberg Crypto on the iHeartRadio App , Apple Podcasts or Spotify . Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Thu, February 23, 2023
Want to hear a big number? How about $3.8 billion. That’s the amount of crypto that hackers managed to steal last year. That’s a new record. The company behind that report, Chainalysis , also found that one specific hacking group was responsible for a huge chunk of that stolen crypto. If you guessed that hacking group was Lazarus, connected to North Korea, you’d be correct. Lazarus allegedly stole $1.7bn in 2022, compared with only $400 million worth of crypto the year before. It further solidifies the notion that North Koreans are likely using the cryptocurrency sector as a way to raise funds in the face of international sanctions. But what does all of this mean for the crypto market? And what can we do to prevent more hacks from happening? Bloomberg reporter Jeff Stone joins this episode. Listen to Bloomberg Crypto on the iHeartRadio App , Apple Podcasts or Spotify . Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Wed, February 22, 2023
Over the course of the crypto winter we’ve seen companies falling like dominos. Several have filed for bankruptcy, with consequences that continue to reverberate across markets. In July 2022, Celsius became the first of the major crypto companies to seek bankruptcy protection, but it would be far from the last. Now, consumers and courts alike are grappling with what these collapses mean. Regulators have sharpened both their rhetoric and their actions against crypto companies and individuals in the market. How are these bankruptcies informing their thinking? What precedents are they setting and what are the potential consequences for crypto? Joining this episode to discuss the growing power and importance of bankruptcy court judges is Bloomberg reporter Steve Church . Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter This podcast is produced by the Bloomberg Crypto Podcast team: Supervising producer: Vicki Vergolina, Senior Producer: Janet Babin, Producers: Sharon Beriro and Muhammad Farouk, Associate Producers: Mo Andam and Ty Butler. Sound Design/Engineer: Desta Wondirad. See omnystudio.com/listener for privacy information.
Tue, February 21, 2023
Bitcoin “evangelist” Roger Ver has said in at least one interview ... when he was a little boy, he wanted to be a garbage truck driver. That way, he could drive heavy machinery around his neighborhood and get to talk to everyone. Fast forward, to the recent past and Roger Ver actually DOES, talk to a LOT of folks…Just not while collecting their trash. He was instead promoting Bitcoin as the future of money and finance so much so that people started calling him “Bitcoin Jesus.” According to his website, he’s one of the early investors in several BTC projects - including Kraken, purse.io, Blockchain.com, and Ripple. But in 2017, Ver switched his enthusiasm away from Bitcoin and more toward something called Bitcoin Cash - an offshoot of the original currency. Recently, Ver became entangled in the bankruptcy of crypto lender Genesis that says BTC Jesus owes millions of dollars on trades. So, what happens when Bitcoin Jesus speaks? Do people say ‘Hallelujah’ or ‘deliver us from evil.’ Bloomberg Reporter Olga Kharif joins host Vildana Hajric to discuss. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Mon, February 20, 2023
It's a holiday in the US, an opportunity to look back on one of our popular episodes. It was recorded with Joe Weisenthal from the Bloomberg Odd Lots podcast shortly after FTX declared bankruptcy and Sam Bankman-Fried was arrested. We talked to Joe about “the box." Back in April 2022, long before Sam-Bankman Fried was tweeting threads about the collapse of his FTX empire, he joined the Odd Lots podcast and talked about this "box" - his metaphor for describing the crypto practice of “yield farming." SBF's description at the time raised many an eyebrow because it seemed too good to be true. Enjoy! Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Fri, February 17, 2023
After years of inaction, regulators appear to be coming for crypto. State regulators in New York this week took aim at stablecoin issuer Paxos and its relationship with crypto exchange Binance. The Securities and Exchange Commission is also pushing ahead with a plan that would make it harder for investment firms to work with cryptocurrency companies. Bloomberg reporters Allyson Versprile & Emily Nicolle join this episode with the latest. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Thu, February 16, 2023
Over the past several months, regulators have watched crypto company after crypto company file for bankruptcy. Some crypto founders have become fugitives from the law, and others have been arrested for allegedly breaking laws. Some customers have lost a lot of money, and the prospects for recovery are in some cases, bleak. And after months on the sidelines, now, regulators have begun fighting back. In the first two months of this year alone, we’ve seen a couple of really significant escalations. In this episode, a look at what’s happening with stablecoins – the crypto tokens that are supposed to hold their value, and that are typically backed by some real-world financial asset like the US dollar or US treasuries. Binance is the largest crypto exchange in the world, by any measure. And it’s been particularly affected by some of these regulatory moves. So, what’s at stake for Binance and what could all of this mean for the industry? Bloomberg reporter Emily Nicolle joins. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Wed, February 15, 2023
The best known figure of the FTX bankruptcy is - of course - its notorious former CEO Sam Bankman-Fried. But there were dozens of other top executives at the firm. Some of them with titles ranging from Chief Technology Officer to Business Development. Prosecutors are likely scrutinizing them to better understand what role they played at Alameda. At issue is the alleged illegal transfer of billions of customer dollars from FTX to its sister company Alameda Research. So any employees associated with Alameda may likely be under review… So who are the power players most closely associated with Alameda and FTX? And what’s next for them? That’s what we review with Bloomberg reporter Hannah Miller . Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Tue, February 14, 2023
With everything that has gone on in crypto over the past year, Wall Street would be excused for wanting to take a rain check on digital assets. But some big banks and other large financial firms– like exchanges and asset managers–are moving ahead with their plans in the space. Initiatives range from launching new cryptocurrency trading platforms, offering custody of digital currencies or focusing on how blockchain can be used to issue and trade traditional assets like bonds. Some executives at these firms see recent scandals in crypto, like the collapse of FTX as a big opportunity to capture a new market as it is likely to drive more regulation. And If more regulation is coming to digital assets, who would be better placed to offer services in the space than a big regulated financial institution? Bloomberg reporter Yueqi Yang joins Bloomberg senior editor Anna Irrera in this episode to talk more about what Wall Street is thinking. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Mon, February 13, 2023
If you’ve heard the name Winklevoss, it’s likely that you’ve watched the movie The Social Network. The movie featured a memorable depiction of the Harvard twins and Olympic rowers who sued Mark Zuckerberg for allegedly stealing their idea for a social network. Or you might know that Cameron and Tyler Winklevoss set up a crypto exchange called Gemini, which is currently involved in a very public dispute with the folks over at Genesis. Both Genesis and Gemini - We know, so many G names - are facing serious allegations from US regulators about their products and services. Or you might be familiar with their cover band, Mars Junction. Tyler’s the lead singer; Cameron jams on guitar. The twins certainly lead a very interesting life - and according to the Bloomberg Wealth tracker, they’re worth billions of dollars. That wealth comes in part from their early adoption of digital assets like Bitcoin - when they settled out of court with Zuckerberg, for around $65 million, they put some of their assets into crypto. To break down what’s up with the Winklevoss twins and their presence in digital assets, Bloomberg reporter Olga Kharif joins this episode. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter This podcast is produced by the Bloomberg Crypto Podcast team: Supervising producer: Vicki Vergolina, Senior Producer: Janet Babin, Producers: Sharon Beriro and Muhammad Farouk, Associate Producers: Mo Andam and Ty Butler. Sound Design/Engineer: Desta Wondirad. See omnystudio.com/listener for privacy information.
Fri, February 10, 2023
Crypto is an asset class that runs 24/7. It’s hard to keep up. So we’re back with a show that reviews the biggest stories of the week. Here’s one: the United Kingdom is amping up plans to launch a digital currency, which folks have started calling Britcoin. And there’s been a significant development in the dispute among various crypto billionaires. On one side: Tyler and Cameron Winklevoss and their Gemini Exchange. On the other, Barry Silbert and Genesis. Plus: how this year’s Super Bowl will be different from last year’s ...at least when it comes to crypto ads. Senior editor Anna Irrera joins this episode to review the week’s top crypto news. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter This podcast is produced by the Bloomberg Crypto Podcast team: Supervising producer: Vicki Vergolina, Senior Producer: Janet Babin, Producers: Sharon Beriro and Muhammad Farouk, Associate Producers: Mo Andam and Ty Butler. Sound Design/Engineer: Desta Wondirad. See omnystudio.com/listener for privacy information.
Thu, February 09, 2023
One of the more interesting phrases used by folks in crypto is this one: “code is law.” Think of it this way. Under the idea that “code is law”, what governs whether something - say a transaction - is valid or not isn’t the whims or caprices of any individual. Instead, what determines whether something is acceptable, permissible, or appropriate is what’s written into the software that enabled that transaction in the first place. It is another way of thinking about the so-called immutability of the blockchain - if the blockchain says it, then that’s what’s going to remain. Sounds logical, right? But what happens when the code doesn’t do what you were expecting it to do - or when someone exploits loopholes in the logic of the software for their own personal financial gain? These questions are at the crux of today’s episode, that will review an interesting precedent set by a crypto trader named Avraham Eisenberg, who exploited the “idea of code is law” for millions of dollars - and then was arrested and charged with fraud. Bloomberg reporter Muyao Shen and Bloomberg Law correspondent Matthew Bultman join this episode to discuss. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter. This podcast is produced by the Bloomberg Crypto Podcast team: Supervising producer: Vicki Vergolina, Senior Producer: Janet Babin, Producers: Sharon Beriro and Muhammad Farouk, Associate Producers: Mo Andam and Ty Butler. Sound Design/Engineer: Desta Wondirad. See omnystudio.com/listener for privacy information.
Wed, February 08, 2023
Crypto markets, and Bitcoin especially, had a strong start to the year. That’s had a couple of interesting consequences for some of the most important players in the market: Bitcoin miners. 2023 has also seen a lot of significant weather events affecting the US, including recent winter storms in Texas that have left hundreds of thousands of people without power. Energy is one of the most important costs that Bitcoin miners must absorb - and of course, they can’t run all those machines in their data centers if there’s no electricity. In the past, the show has talked about the challenging conditions that Bitcoin miners in the US and around the world have been facing. On this episode, the focus centers on the miners that have been able to adapt and take advantage of current market conditions, to try to put themselves on slightly more stable financial footing. Bloomberg reporter David Pan joins this episode to talk about his reporting. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Tue, February 07, 2023
Like many buzzy, fast-growth, high-risk industries, companies operating in and around crypto and the blockchain have relied heavily on venture capital to fund their activities. Venture capitalists, or VCs, manage pools of private money. What sets them apart from many other kinds of investors is that they focus on the riskiest possible bets - for every 10 or so investments, they expect at least eight or nine of them to fail. But what keeps them in business is that every now and again, one of those high-risk bets pays off spectacularly - covering the losses in the rest of the portfolio. Given their appetite for risk and reward, it’s no surprise that for a time, VCs big and small flocked to crypto. But what does this relatively depressed environment mean for VC investments in digital assets? Bloomberg reporter Hannah Miller joins this episode to discuss. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter This podcast is produced by the Bloomberg Crypto Podcast team: Supervising producer: Vicki Vergolina, Senior Producer: Janet Babin, Producers: Sharon Beriro and Muhammad Farouk, Associate Producers: Mo Andam and Ty Butler. Sound Design/Engineer: Desta Wondirad. See omnystudio.com/listener for privacy information.
Mon, February 06, 2023
Nearly five months ago, the Ethereum blockchain successfully completed what was — at the time — a very complicated and years-in-the-making update. Called The Merge , it allowed the blockchain to move from validating transactions using computers, that took a lot of energy to run, to a proof-of-stake model. The switch cut Etherium’s power consumption by more than 99 percent. After The Merge, the price of Eth rallied a bit, but has since fallen about 15 percent. Now, software developers who work on Ethereum are gearing up for a new upgrade called Shanghai . It will allow the tokens being used to order transactions on the blockchain to be withdrawn. Right now all those tokens are tied up in staking wallets. To talk more about what’s entailed in the Shanghai upgrade, Bloomberg reporter Olga Kharif joins this episode. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Fri, February 03, 2023
Surprising to some, it turned out to be a decent month for crypto. Bitcoin rose almost 40% and some smaller coins did much better. Speaking of risk taking: Wall Street firms are still keen on crypto, despite all of last year’s calamities. And a failed crypto lender known for its risk appetite, Celsius , just got some harsh criticism from its bankruptcy examiner. Bloomberg senior editor Anna Irrera and Bloomberg reporter Emily Nicolle join senior editor Philip Lagerkranser to discuss the latest digital asset trends of the week. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Thu, February 02, 2023
The digital-asset industry is reeling from challenges many blame on a handful of so-called crypto bad actors and wayward CEOs. Of course we’re talking about the Do Kwon’s, the Alex Mashinsky’s, the Su Zhu’s… oh, yes and the Sam Bankman-Fried. But while some industry leaders say they are upset by the allegedly illegal actions of some of their peers, they still have hope that the digital asset industry will thrive and the crypto market will recover. Mike Novogratz is a prime example. He’s the CEO of Galaxy Digital, one of the top investment firms in the digital-asset industry. The 58 year-old is known for his ubiquitous presence in the cryptosphere as well as his assertive demeanor, which aligns well with many in the crypto crowd. Novogratz made it through the chaos of 2022 – but that doesn’t mean he and his firm were left unscathed. Bloomberg reporter Sonali Basak recently sat down with him and she joins Vildana Hajric to discuss what’s next for the Galaxy Digital CEO. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Wed, February 01, 2023
One of the biggest shocks to the crypto market in the past couple of years came in 2021 - when China issued its most significant crackdown yet on all things digital assets. Fast forward to 2023, and there are signs that the country might be softening that stance ever so slightly. Just to set the scene a little bit - this is all related to broader signs and speculation that China is quote unquote “reopening”. To discuss China’s potentially softening stance on crypto, Bloomberg reporter Muyao Shen joins this episode. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Tue, January 31, 2023
The bankruptcy of crypto exchange FTX and the arrest of its former CEO San Bankman-Fried has had a lasting effect on the digital asset sector, for sure. But it’s also made an indelible impact on the politicians and policy makers who are supposed to regulate the industry. There was already a fire lit under some lawmakers when it comes to imposing regulations on crypto - Last year, President Biden issued an executive order asking agencies to take coordinated action on digital assets. And in the summer, Senators Cynthia Lummis and Kristen Gillibrand issued a bipartisan crypto bill that, among other things, would step up oversight on stablecoins and crypto energy usage. And then there is the ongoing battle between the Securities and Exchange Commission and the Commodities Futures Trading Commission - over whether cryptocurrencies are securities…. or commodities. But with an ongoing wave of crypto bankruptcies linked to FTX, government officials are confronted with a new sense of urgency surrounding digital asset regulation. Bloomberg reporters Allyson Versprille and Lydia Beyoud join senior editor Mike Regan in this episode. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Mon, January 30, 2023
Long time Fidelity customers have been getting some interesting offers in their inbox from the financial services company over the past several months: a new crypto trading platform for retail investors. Last November, the brokerage firm launched a wait list for those interested in the services which include custody and zero-commission trading for Bitcoin and Ether. Fidelity Investments is one of the largest investment managers in the industry and is one of the first financial services firms to offer crypto trading services to clients. Clients who want to dip their toes in the digital asset market have usually reached towards exchanges such as FTX or Coinbase. But in the wake of the FTX collapse, news of Fidelity’s digital asset platform could provide crypto curious investors with an alternate opportunity. In this episode, Bloomberg reporter Claire Ballentine reviews what Fidelity’s retail crypto trading platform - and potentially others - means for industry and how it will shape the way retail investors interact with the digital asset market. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Fri, January 27, 2023
As we reported this week, Binance acknowledged that it had been mistakenly mixing the collateral it holds for some of its tokens…. in the same digital wallet as other types of funds. This kind of operational issue is a challenge for these exchanges, especially now, at a point when both regulators and customers are paying super close attention to how this industry is managing its transparency. Also, layoffs continue to happen in crypto - and that’s impacting other industries, with numerous companies tightening their belts and shedding workers. Bloomberg senior editor Anna Irrera and Bloomberg reporter Justina Lee join to discuss. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Thu, January 26, 2023
Crypto lender Genesis has filed for bankruptcy . For many observers in crypto, this wasn't entirely unexpected, not least because the company itself had been warning that it was staring down a liquidity crisis and trying to raise money. Over the past couple of weeks, Barry Silbert, who is the CEO of the Genesis parent company known as Digital Currency Group, has been in a very public and kind of increasingly nasty online dispute with some fellow billionaires, the co-founders of the Gemini Crypto Exchange, Tyler and Cameron Winklevoss. At the heart of this dispute is around $900 million worth of funds that customers of these two entities have lost access to. Bloomberg editor Anna Irrera and reporter Emily Nicolle join the show to discuss what Genesis was, why it was so important to the crypto ecosystem and what its relationship is with Gemini. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Wed, January 25, 2023
The end of Sam Bankman-Fried’s empire created a contagion effect especially felt by crypto exchanges, like publicly-traded Coinbase. In early January, the exchange settled with New York regulators who accused it of “significant” compliance program failings. Coinbase agreed to pay a $50 million dollar fine and set aside $50 million more to improve its compliance practices. Ahead of its earnings report, CEO Brian Armstrong says Coinbase revenue will likely drop by half or more this year. And the picture may be equally dim for other global exchanges . Crypto senior editors Philip Lagerkranser and Anna Irrera are joined by Bloomberg reporter Yueqi Yang to talk through the latest. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Tue, January 24, 2023
It’s 2023 and the crypto community is hoping to pull out of its funk this year and put the blowups, bankruptcies and price slumps of the last year in the rear-view mirror. While some remain hopeful - churning out ideas for a more fruitful, and perhaps community-driven, crypto future, others are still smarting from last year’s carnage. But now, both groups have a place where they can toast a revival – or drown their sorrows – at a new Bitcoin-themed bar in New York. It’s called PubKey . Pubkey recently opened in lower Manhattan and it’s a short walk away from New York University’s college campus. The bar is meant to attract a community of Bitcoin enthusiasts along with the Bitcoin curious. Bloomberg reporter Vildana Hajric recently went to Pubkey with colleague Muyao Shen . They join this episode to talk about what they saw and what this bar could mean for the Bitcoin community. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Mon, January 23, 2023
Like most crypto-adjacent firms, fiat banks that diversified into crypto have struggled during the crypto winter. And this was likely the case even BEFORE crypto exchange FTX declared bankruptcy in November 2022. We’ll find out exactly how many of them are doing in the coming weeks, as earnings reports trickle out. But generally, banks that got into crypto benefited during digital currency’s rise, and have struggled since last spring, when the digital asset sector took a downward plunge. In this episode, Bloomberg’s Max Reyes offers up a pre-earnings preview of these banks, and where they go from here. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Fri, January 20, 2023
Is crypto back? That’s one question Bloomberg editors and reporters discuss in another This Week in Crypto episode. Already, the year is packed with digital asset action. Bitcoin is up 30 percent so far in 2023. Lots of smaller tokens are even more than that. Suddenly, crypto enthusiasts are uttering words like FOMO — Fear of Missing Out - again. Then there are some crypto comebacks happening. Or, at least, some crypto comeback attempts. The guys behind 3AC, Three Arrows Capital, the cryptocurrency hedge fund credited in some circles with launching the crypto winter, are seeking funding for a new startup. Crypto Twitter has not been kind. And also, Heather Morgan, an accused cryptocurrency thief charged along with her husband in the world’s biggest crypto heist, has landed a new tech job! Bloomberg senior crypto editor Anna Irrera and Bloomberg reporter Vildana Hajric join Phili Lagerkranser in this episode to review and discuss this and all the week’s top digital asset news. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter This podcast is produced by the Bloomberg Crypto Podcast team: Supervising producer: Vicki Vergolina, Senior Producer: Janet Babin, Producers: Sharon Beriro and Muhammad Farouk, Associate Producers: Mo Andam and Ty Butler. Sound Design/Engineer: Desta Wondirad. See omnystudio.com/listener for privacy information.
Thu, January 19, 2023
You’ve probably heard financial regulators refer to crypto as the "Wild West." But, instead of shoot-outs and sheriffs - in crypto, you can get financial experimentation, hackers and pretty extreme risk-taking (in hopes of yielding extreme returns) - in some cases with people investing their hard-earned savings. People allegedly wronged by crypto are increasingly turning to the law for redress. The only problem is, how do you fit something so new into laws that are often centuries old? That’s the conundrum lawyers and creditors are confronting in the case of FTX, the crypto exchange that collapsed into bankruptcy last year. In this episode, we discuss the legal complexities underlying the FTX bankruptcy. And how the rules change across jurisdictions - from the sunny Bahamas to the cloudy skies of England. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter This podcast is produced by the Bloomberg Crypto Podcast team: Supervising producer: Vicki Vergolina, Senior Producer: Janet Babin, Producers: Sharon Beriro and Muhammad Farouk, Associate Producers: Mohsis Andam and Ty Butler. Sound Design/Engineer: Desta Wondirad. See omnystudio.com/listener for privacy information.
Wed, January 18, 2023
Western Massachusetts is a very different place from the Bahamas, where the FTX crypto exchange had its headquarters. But the small town of Lenox there is feeling the effects of the FTX bankruptcy nonetheless. The reason is Ryan Salame, the former co-CEO of FTX Digital Markets who was also a major player in the economy of Lenox. Salame grew up in Berkshire County, of which Lenox is a part. The town has fewer than 10,000 residents - closer to 5000 actually, according to the most recent census. In March 2022, the county’s local newspaper the Berkshire Eagle reported that Salame owned multiple restaurants and other properties in the town. What’s going to happen to those restaurants now that FTX has filed for bankruptcy and Salame is out of a job? Bloomberg reporter Carly Wanna joins this episode for the latest. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Tue, January 17, 2023
It was an unwelcome ruling for about 600,000 Celsius account holders, who are probably wishing they’d read the fine print more closely before investing. Or put more stock in the crypto mantra “not your keys, not your coins.” Earlier this month, federal Bankruptcy Judge Martin Glenn found that when people deposited assets with the now bankrupt crypto lender Celsius - and in exchange received interest on those deposits - those assets became the property of Celsius. This makes customers of the so-called Celsius “Earn Program” unsecured creditors - unlikely to get all their money back from Celsuis, (again because, well, bankruptcy). Many investors signed up for these accounts in part because of the potentially high returns Celsius promised on their deposits - up to 18 percent. That’s far more interest than you’d make at a savings bank. But unlike at a bank, the deposits, held in crypto, were not covered by federal deposit insurance. To give some context, the value of those accounts back in July topped $4 billion. This ruling could impact other crypto platform arrangements. Bloomberg’s Jeremy Hill joins the episode to break down the judge’s opinion and explain its wider implications. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter This podcast is produced by the Bloomberg Crypto Podcast team: Supervising producer: Vicki Vergolina, Senior Producer: Janet Babin, Producers: Sharon Beriro and Muhammad Farouk, Associate Producers: Mo Andam and Ty Butler. Sound Design/Engineer: Desta Wondirad. See omnystudio.com/listener for privacy information.
Mon, January 16, 2023
Today, Martin Luther King, Jr. Day is observed in the U.S. So the crypto team wanted to present an episode connected to the idea of service. The episode, first published last December, focuses on Sam Bankman-Fried's efforts to advance Effective Altruism. SBF used to say he was a man on a mission: to give away more than a billion dollars. It was part of his connection to the Effective Altruism movement. Through personal giving, and through a philanthropic unit called the FTX Foundation, Bankman-Fried appeared to support causes ranging from pandemic prevention to research into climate change. But what happens to those recipients now that FTX is bankrupt? Bloomberg reporters Sophie Alexander and Laura Davison join this episode with the backstory on SBF and effective altruism. We're back tomorrow with a new episode. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Fri, January 13, 2023
Something we say often on the Bloomberg Crypto team is that a week in this asset class can feel like a year. And as we wrap up the second week of 2023, it’s starting to feel maybe more like a decade. On the proverbial docket this week: a public and ugly fight emerging between Gemini, a crypto exchange that's owned by the Winklevoss twins, and a company called Genesis, which was one of the biggest crypto lenders in the world. Tom Brady, Gisele Bundchen and Patriots owner Bob Kraft popped up in a bankruptcy filing from FTX, the now-defunct crypto exchange associated with Sam Bankman-Fried. And in this episode, our editors tackle listener questions. Bloomberg senior editor Dave Liedtka joins the show. See omnystudio.com/listener for privacy information.
Thu, January 12, 2023
It’s been a tough winter for Bitcoin miners. As prices of the largest token have fallen from their record highs, there have been bankruptcies and warnings of potential bankruptcy. Billions of dollars in losses. Forced sales of equipment. Regulatory uncertainty in states like New York. Increased criticism of the energy consumption associated with the sector…the list goes on. One miner even changed its name to try to minimize its association with the sector. The company formerly known as Riot Blockchain changed its name to Riot Platforms after seeing its share price fall around 85% in 2022. So what hope is there for Bitcoin miners in 2023? Bloomberg reporter David Pan and Mason Jappa, CEO and co-founder of mining services company Blockware Solutions join the show. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter This podcast is produced by the Bloomberg Crypto Podcast team: Supervising producer: Vicki Vergolina, Senior Producer: Janet Babin, Producers: Sharon Beriro and Muhammad Farouk, Associate Producers: Mo Andam and Ty Butler. Sound Design/Engineer: Desta Wondirad. See omnystudio.com/listener for privacy information.
Wed, January 11, 2023
The United Arab Emirates has spent quite a lot of time — and considerable resources — positioning itself as a crypto-friendly hub. Its efforts have attracted some of the top names in crypto to the region: the CEO of the world’s largest crypto exchange - Binance’s Changpeng 'Zhao - known as CZ -has a residence in Dubai. It’s where Su Zhu and Kyle Davies fled to after the collapse of their crypto hedge fund, Three Arrows Capital. Sam Bankman-Fried travelled to Dubai for meetings with investors just weeks before the collapse of FTX - and FTX was one of the first firms granted a license by Dubai’s regulator for virtual assets. Around 4% of FTX’s global customers are based in the UAE, according to court filings in the firm’s bankruptcy case. That makes it one of the top 10 jurisdictions affected by the FTX fallout. Bloomberg reporters Suvashree Ghosh and Ben Bartenstein join the episode to discuss United Arab Emirates’ crypto ambitions. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Tue, January 10, 2023
The bankruptcy of crypto exchange FTX and the indictment of its former CEO Sam Bankman-Fried, who’s pleaded not guilty to 8 criminal counts - is shining a light on the world’s largest crypto exchange - Binance - and its CEO, Changpeng Zhao - known as CZ. The exchange is estimated to be worth around $300 billion and holds nearly 60 percent of the crypto derivatives market. Binance has managed to eclipse its rivals when it comes to market share and CZ appears confident that the company will successfully navigate the crypto winter. But with FTX out of the picture, there are increasing fears among some investors that Binance has become too big, and as the largest exchange, holds too much power in an industry that prides itself on being decentralized. How did Binance get so big? What was the fuel behind its meteoric rise? Bloomberg reporters Justina Lee and Muyao Shen join crypto senior editor Phil Lagerkranser to unpack how Binance and CZ came to dominate crypto, and whether that dominance creates a threat to the future of digital assets. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter This podcast is produced by the Bloomberg Crypto Podcast team: Supervising producer: Vicki Vergolina, Senior Producer: Janet Babin, Producers: Sharon Beriro and Muhammad Farouk, Associate Producers: Mo Andam and Ty Butler. Sound Design/Engineer: Desta Wondirad. See omnystudio.com/listener for privacy information.
Trailer · Mon, January 09, 2023
Hosted by Bloomberg Opinion senior executive editor Tim O'Brien, Crash Course will bring listeners directly into the arenas where epic business and social upheavals occur. Every week, Crash Course will explore the lessons to be learned when creativity and ambition collide with competition and power -- on Wall Street and Main Street, and in Hollywood and Washington. Listen to Crash Course on the iHeartRadio app or wherever you get your podcasts. https://www.iheart.com/podcast/1119-crash-course-106327154/ See omnystudio.com/listener for privacy information.
Mon, January 09, 2023
Crypto exchange FTX’s November 2022 collapse was one of the most spectacular and swift downfalls in the history of crypto. Now, as the bankruptcy dust begins to settle, investors and others wonder what will happen to crypto startups closely tied to the former exchange. Solana is an example. FTX’s former CEO Sam Bankmam-Fried was a champion of the blockchain network. He publicly appeared with one of its co-founders at various conferences and industry talks. And FTX and Alameda bought nearly $580 million dollars worth of Solana's native token, - SOL - The company also supported various projects that operated on the Solana blockchain. Now FTX’s former CEO faces eight criminal counts including fraud. The collapsed exchange is struggling to repay its creditors. So: where does that leave Solana? Bloomberg’s Hannah Miller has been reporting on this and joins the episode. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Fri, January 06, 2023
Welcome to the first This Week in Crypto episode of 2023. We’re kicking off the year with - can you guess? Sam Bankman-Fried. The former FTX CEO had quite the wild holiday season. His companies filed for bankruptcy in November and he was arrested in the Bahamas in December. Bankman-Fried faces multiple criminal charges - and at least two of his closest colleagues and confidants are providing evidence against him. SBF, as he’s commonly known, flew back to New York this week after spending the holidays in California on bail . At a hearing in New York on Tuesday, he pleaded not guilty - as expected - to charges including fraud. Bloomberg senior editor Philip Lagerkranser joins the show to discuss. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Thu, January 05, 2023
In the days leading up to the staggering collapse of FTX, a series of tweets from a top crypto executive signaled that the exchange was likely in deep financial trouble. Former FTX CEO Sam Bankman-Fried and Binance CEO Changpeng Zhao - or “CZ” as he’s commonly called - are known rivals. But when CZ tweeted that he was pulling his investments out of FTX - it sparked a run on the exchange that ultimately led to its insolvency. The idea that a once flush crypto exchange worth billions of dollars could be taken down by what started as a series of barbs on Twitter, fuels the perception that the digital asset industry is led by alpha-males who promote a hyper-masculine culture. Now that SBF — formerly one of the most renowned CEOs in the business — finds himself facing serious criminal and civil charges, this episode considers what’s at stake for the industry, and whether the culture is likely to change. Bloomberg’s Vildana Hajric joins Mike Regan for a robust review. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Wed, January 04, 2023
Miami has always been famous for its beaches, beautiful people and glamorous nightlife. More recently, the city grabbed attention for trying to establish itself as a crypto hub, and witnessed an influx of crypto startups as entrepreneurs flocked to its palm tree-lined streets. They were attracted by both Miami’s charismatic, crypto-friendly mayor Frances Suarez and the promise of lower taxes. And then of course… there’s FTX. The now-bankrupt crypto exchange had the naming rights to the basketball arena for the Miami Heat. And just about a month before its stunning collapse, the exchange had plans to move one of its top branches to the heart of the city's financial center. In the aftermath, and with overall negative sentiment in crypto markets, the city has faced tough questions about its part in the digital asset industry’s future. Bloomberg reporter Carly Wanna was recently down in Miami and she joins Vildana Hajric in this episode to break down how the tropical city is adapting to the recent crypto crisis. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Tue, January 03, 2023
The relationship between crypto and gaming is not always straightforward. Some gamers, and some games companies, have outright rejected all things blockchain and crypto. They say the environmental considerations haven’t been fully addressed, and that turning games into speculative investment opportunities ruins the fun. Others are cautiously optimistic, and are experimenting with in-game NFTs. A smaller number, and a relatively vocal minority, are absolutely committed to making blockchain-based games happen. Among those who were committed, and vocal? now-bankrupt crypto exchange FTX. Earlier this year, FTX announced plans to start its own gaming unit - a platform that enables gaming companies to launch their own tokens and NFTs. FTX has also worked closely with a handful of crypto gaming startups to expand its gaming footprint. But in the aftermath of the FTX meltdown, many wonder what the future of those small companies may look like. How do we make sense of the impact the FTX meltdown has had on the gaming industry? Bloomberg reporter Hannah Miller joins this episode. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Mon, January 02, 2023
Picture this: you’re the FBI, trying to track down the digital keys that will give you access to illicit or stolen crypto. In 2021 alone, cops in the U.S. and U.K, seized billions of dollars in Crypto-assets from various different criminal busts. With so much money on the line, enforcement agencies around the world have had to learn quickly how to spot these digital assets and seize them from accused criminals. In this episode, Bloomberg reporters Ellen MiIligan and David Voreacos join to discuss how the seizures of digital assets are transforming policing policies and protocols around the world. [This episode originally published in July, 2022] Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Fri, December 30, 2022
Think way back: all the way back to October, 2021. Crypto prices are rocketing. Celebrities can’t stop talking about NFTs. There’s packed conferences in glitzy venues attended by people wearing t-shirts with cartoon monkeys on them. If you’re an executive at a big gaming studio, you might be forgiven - maybe - for sending one of those emails with the subject line: "NFT strategy?" And several executives at these gaming companies did indeed send those emails. Some of their companies even announced plans to make blockchain gaming happen. Flash forward to 2022. Celebrities aren’t talking about their NFTs. People are trying to sell their Apes. And gaming studios don’t seem quite so convinced that they need an NFT strategy. Joining this episode are Bloomberg reporter Emily Nicolle and Mark Venturelli, CEO and creative director at game studio Rogue Snail, who’s also a game developer. [This episode originally published in October, 2022] Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Thu, December 29, 2022
In late July of 2022, allegations surfaced that some North Koreans were plagiarizing online resumes and tricking companies, including crypto companies, into hiring them. It's part of a broader effort to raise money for North Korea’s government weapons program. It could also help the authoritarian nation evade global sanctions. How did North Korea get so good at tricking crypto employers? And what does all of this mean for the security of crypto companies? Bloomberg reporter Jeff Stone joins this episode to explain. [This Episode originally published in Auguest, 2022] Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Wed, December 28, 2022
For years, many crypto investors have been consumed by a single, persistent question as they’ve watched the prices of coins rise and fall, especially as of late: Wen Lambo? Bloomberg reporter Hannah Miller and crypto VC Peter Saddington join this episode to discuss all your burning questions about one of the most visible status-symbols of crypto. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter [This episode originally published in August, 2022] See omnystudio.com/listener for privacy information.
Tue, December 27, 2022
Back in mid-November on the podcast, we were unpacking the spectacular downfall of one of the biggest crypto exchanges in the industry in real time, and how it would possibly changed the sector forever. A month before, if someone would have told us that crypto exchange FTX was potentially mismanaging customer funds, funneling money into its sister trading firm, Alameda Research, and would soon be a cautionary tale from the crypto industry, we wouldn't have believed them. As more details about its general finances have emerged, we're starting to better understand how FTX and its former CEO, Sam Bankman-Fried, might have managed to change the industry forever. How much of a mess was FTX in? How did nobody notice? And how can this shape the future of crypto? Bloomberg reporters Katie Greifeld and Vildana Hajric ask Bloomberg opinion columnist Matt Levine for the long view. [This episode originally published on November 17, 2022] Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Mon, December 26, 2022
It’s been an extremely messy month or so in crypto since Sam Bankman-Fried’s exchange FTX went bankrupt. But in this episode, we’re discuss something entirely different - an NFT vending machine. NFTs were all the rage last year, but this year prices have dropped along with the rest of crypto. What if you could buy an NFT from a vending machine? Earlier this year, these popped up in central London. The company behind the vending machine - myNFT - said the goal was to eliminate any barriers to entry when it comes to NFT shopping. Hugo McDonaugh, the CEO and co-founder of myNFT joins senior editor Philip Lagerkranser, along with Bloomberg reporter Tanzeel Ahktar, to talk more about this. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Fri, December 23, 2022
Listen to Bloomberg Crypto on the iHeartRadio App , Apple Podcasts or Spotify . It’s been another wild week in crypto, specifically for Sam Bankman-Fried. The crypto founder and former CEO of FTX has been spending time in a Bahamian jail after being denied bail related to multiple criminal charges. On Tuesday, he signed documents formally agreeing to be extradited to the US to face numerous charges, including allegations of fraud and money laundering. The FTX bankruptcy and its aftermath are impacting the wider digital asset industry, including Binance - by far the largest crypto exchange in the world by volume - and its affiliate, Binance US. Bloomberg editor Beth Williams joins the episode to consider the week’s events and ponder what’s next. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Thu, December 22, 2022
The Year of 2022 was supposed to be one of crypto regulation. Multiple CEOs, venture capitalists and trade groups for the industry globally had hired lawyers and lobbyists and prepared policy papers and blog posts. Over and over, they said the refrain: “we’re hoping for regulatory clarity.” In the US, the Biden administration announced an Executive Order, [Ensuring Responsible Development of Digital Assets] calling for a national policy on digital assets. It required federal agencies to get their digital asset policies in order, but it lacked either teeth or specifics. Individual US lawmakers across the political spectrum proposed their own bills on crypto asset regulation, some of which competed with or even contradicted each other. Against this backdrop, things were going poorly for investors and the industry. Token prices plunged in value. One buzzy crypto company after another filed for bankruptcy - including FTX, which had sought to position itself as exceptional in every way. It’s now-former CEO Sam Bankman-Fried has since been arrested and is facing allegations of fraud and other crimes. So: will 2023 be the year that crypto gets regulated? Bloomberg reporters Allyson Versprille and Bill Allison join to sort out where we are with regulation, and look ahead to what we’re likely to see in 2023. See omnystudio.com/listener for privacy information.
Wed, December 21, 2022
Sam Bankman-Fried might not have expected that his time in the Bahamas would include the inside of a jail cell. Bankman-Fried and his inner circle at FTX and Alameda Research relocated operations to the Bahamas from Hong Kong in late 2021. The Nassau-based employees and executives seemed to enjoy a lavish island lifestyle - think yachts and penthouses with ocean views. How much of that lifestyle was funded, ah, improperly is at the center of allegations and charges filed by everyone from the US Department of Justice to the Securities and Exchange Commission to the CFTC. The Department of Justice alleges that, among other things, SBF misappropriated customer deposits. And there’s a brewing fight between officials in the US and local regulators in the Bahamas just who is in charge of what. Bloomberg reporters Zeke Faux and Carly Wanna join this episode. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Tue, December 20, 2022
In the aftermath of the FTX collapse - one of the most significant crypto exchanges in the industry, investors and hedge funds are seriously questioning the future of crypto. FTX was once among the top centralized exchanges, a haven for professional and amateur investors. But now, billions of investors’ dollars have disappeared and its former CEO, Sam Bankman-Fried, has been arrested and denied bond, facing conspiracy and fraud charges. Binance is the largest exchange by volume and a former rival of FTX. It suffered a wave of withdrawals recently, after releasing its ‘proof-of-reserve’ report, leaving many investors and crypto proponents wondering: should they trust any crypto exchange at all? And if so, what should it do differently? Bloomberg reporter Justina Lee joins senior editor Anna Irrera to discuss this. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Mon, December 19, 2022
Sam Bankman-Fried has been arrested in the Bahamas and US authorities have unleashed some truly stunning charges against him, essentially accusing him of having his entire crypto empire as a personal piggy bank and defrauding customers who put money on FTX. Bankman-Fried himself has said it was all down to sloppy accounting and mismanagement. Which is all the more surprising given that he spent three years at one of the Wall Street shops famous for its level of caution - namely Jane Street . Bloomberg’s Hannah Miller has been reporting on this and she joins this episode. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Fri, December 16, 2022
Just a mere month ago, disgraced former FTX CEO Sam Bankman-Fried was the undisputed king of the digital asset industry. Now the 30-year-old is under arrest, facing criminal charges from the U.S. The Department of Justice, and civil charges from the Securities and Exchange Commission and the Commodity Futures Trading Commission. FTX has declared bankruptcy, and almost a million FTX creditors are unlikely to get their money back. Meanwhile contagion continues to spread through the ecosystem, with all eyes on crypto exchange Binance, that’s faced more than $1 billion in withdrawals in recent days. And some market watchers fear the stablecoin Tether could be the next crypto domino to fall. Bloomberg crypto editor Anna Irrera and Bloomberg reporter Misyrlena Egkolfopoulo join the show. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Thu, December 15, 2022
Bitcoin ATMs could be considered symbolic of the state of crypto’s popularity. During the digital asset boom they kept on appearing in what could reasonably be considered unusual locations. Such as Amherst County, Virginia, a place that has no hospital but does have a Bitcoin ATM. Just in case. The number of crypto ATMs in the US peaked in August at just over 34,000 but has begun to fall, according to Coin ATM Radar , a site that tracks global locations of Bitcoin ATMs. Will these makeshift monuments to digital assets withstand the FTX bankruptcy and subsequent decline of digital assets. Bloomberg reporter Carly Wanna joins the episode to consider the future of Bitcoin ATMs. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Wed, December 14, 2022
It’s safe to say that 2022 wasn’t the best year for crypto. By late January, Bitcoin had already shed half its value from its all-time high set the previously November - nearly $69,000 . And Bitcoin prices stayed on a downward trend that only accelerated after the first major crisis of 2022, the collapse of an algorithmic stablecoin called TerraUSD. The implosion of what was once considered an ambitious experiment for DeFi sent shockwaves through the industry, ultimately triggering the collapse of crypto hedge fund Three Arrows Capital and bankruptcies at crypto lenders Voyager Digital and Celsius. It started to feel a bit like the Hunger Games - crypto CEOs and other senior executives racing for the exit, true believers getting into Twitter fights about whether centralisation was the real enemy, all against a backdrop of conferences and parties where people tried to rekindle enthusiasm for their Bored Ape collections. Then - most recently of course - the stunning collapse of one of the most significant crypto exchanges in the sector, FTX and the resignation of its 30-year-old CEO Sam Bankman-Fried. Quite the year. And it isn’t over yet. In this episode - a breakdown of the year’s biggest stories with Bloomberg reporters Vildana Hajric and Emily Nicolle , with key takeaways and a look ahead to next year. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Tue, December 13, 2022
For the last six months or so, the digital asset industry has been knee-deep in the trenches of a ‘crypto winter.’ Now, the demise of Sam Bankman-Fried’s FTX and Alameda Research have produced a dramatic decline in market liquidity. While these bankruptcies will take years to be resolved in the court system, the effects of the collapse on the market have been swift. Investors and traders are only just beginning to grapple with the consequences. Bloomberg reporter Katie Greifeld joins the show to discuss. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Mon, December 12, 2022
What do pandemic stimulus funds have to do with the recent collapse of crypto prices and entities like FTX? According to Bloomberg Opinion writer Robert Burgess, the answer is basically everything. As he wrote in a recent column, “When historians look back on the spectacular rise and collapse of the cryptocurrency market, they will conclude that it couldn’t have happened without the pandemic. And they’d be right.” This isn’t as controversial an opinion as it might seem. For more, Robert joins this episode. See omnystudio.com/listener for privacy information.
Bonus · Sun, December 11, 2022
Listen to the final audio excerpt from a special issue of Businessweek magazine, The Crypto Story. Bloomberg columnist Matt Levine uses the full issue to explain where crypto came from, what it means and why it matters. This episode is voiced by Bloomberg Businessweek editor Mark Leydorf. See omnystudio.com/listener for privacy information.
Fri, December 09, 2022
Listen to Bloomberg Crypto on the iHeartRadio App , Apple Podcasts or Spotify . The Sam Bankman-Fried apology tour continued this week, despite a number of high-profile lawyers — including one who represented Bernie Madoff — saying that SBF really needs to stop talking. Speaking of lawyers: as the bankruptcy winds through the courts, the 30-year-old has hired a new lawyer, Marc Cohen. Cohen had previously been one of the lawyers who represented convicted sex offender Ghislaine Maxwell. Also up for discussion on this episode: that big Ethereum move to proof-of-stake earlier this year — dubbed The Merge. We consider whether it’s really had a meaningful effect on energy consumption. A new academic paper asks: What if all those computers no longer employed on proof-of-work duty…have just been reassigned ….to mine other energy intensive tokens? And why is Senator Elizabeth Warren asking questions about digital-asset-focused Silvergate Bank? We find out. Bloomberg reporter Annie Massa and senior editor Dave Liedtka join the show to talk about these stories and more. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Thu, December 08, 2022
Financial markets can be subject to a fair amount of groupthink. The herd effect. Mob mentality, even. There’s actually some really interesting research into this: check out for example the paper, “Bubbles, Human Judgment, and Expert Opinion ” by Robert J. Shiller. Here's additional research into herd effect: Herding behaviour in digital currency markets: An integrated survey and empirical estimation.] Crypto investors are no exception: and their in-group behavior also features a lot of catchphrases. Like the famous “ GM” , and the infamous "have fun staying poor. " Or the tongue-in-check “ Bitcoin will fix this” , where “this” is basically any social or economic issue you can imagine. In this episode Bloomberg senior markets editor Mike Regan and crypto blogger Emily Nicolle assess the mood among the crypto faithful - and explain why some of them are now evangelizing cold wallets. See omnystudio.com/listener for privacy information.
Wed, December 07, 2022
Listen to Bloomberg Crypto on the iHeartRadio App , Apple Podcasts or Spotify . Sam Bankman-Fried used to say he was a man on a mission. That mission: giving away more than a billion dollars in the service of a movement known as “effective altruism." Through personal giving, and through a philanthropic unit called the FTX Foundation, Bankman-Fried appeared to support causes ranging from pandemic prevention to research into climate change. Fast forward a bit, and that message of “using wealth to empower people and projects that are doing the most to make positive, long-lasting change” - a marketing line from the FTX Foundation’s website - now rings hollow . Bloomberg reporters Sophie Alexander and Laura Davison join this episode with the backstory on SBF and effective altruism. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Tue, December 06, 2022
Listen to Bloomberg Crypto on the iHeartRadio App , Apple Podcasts or Spotify . “It’s time to rebuild…” is a catchy phrase often said by crypto industry folks after massive implosions, like the one we just had with FTX. In the aftermath of these moments, investors are known to imagine all the potential for growth after the downturns. But this year in crypto the time for rebuilding has come often far too often, some might say. Nearly every crypto believer is saying let’s rebuild. But a valid question would be: rebuild what? Bloomberg crypto blogger Emily Nicolle joins senior editor Philip Lagerkranser in this episode to talk about what, (if anything) might be rebuilt. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Mon, December 05, 2022
The interplay of money and politics in the US is real, and well established. And that includes when that money is either in the form of crypto, or comes from people who made their fortunes in digital assets. The recently concluded US Midterm Elections featured several candidates - including winning ones - whose campaigns were financed in part by crypto-related donors and donations. Among those donors: Sam Bankman-Fried and Ryan Salame of FTX, who supported candidates on opposite ends of the political spectrum. The collapse of FTX has led to some politicians and lawmakers who received from these donations now attempting to distance themselves entirely from their benefactors. For more on the state of crypto money and politics in the US, Bloomberg reporters Bill Allison and Allyson Versprille join this episode. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Bonus · Sun, December 04, 2022
Listen to the sixth audio excerpt from a special issue of Businessweek magazine, The Crypto Story. Bloomberg columnist Matt Levine uses the full issue to explain where crypto came from, what it means and why it matters. This episode is voiced by Bloomberg Businessweek editor Mark Leydorf. See omnystudio.com/listener for privacy information.
Fri, December 02, 2022
The apples are falling from the crypto tree, one by one. The contagion is happening. This week was BlockFi filed for bankruptcy. Also, crypto hedge funds are losing faith in centralized exchanges. In this episode, our crypto editors review what other companies remain vulnerable, and search for any bright spots emerging in the digital asset ecosystem. Hosted by senior crypto editor Philip Lagerkranser, with Bloomberg senior crypto editor Anna Irrera and crypto reporter Tanzeel Akhtar. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Thu, December 01, 2022
A look into the disorganized bankruptcy filing of FTX’s crypto empire with Bloomberg reporter Jeremy Hill. We review why we don’t know the identity of FTX’s top 50 creditors and whether we’re likely to find out. The discussion also considers what other companies could still suffer by their association with former FTX CEO Sam Bankman-Fried and his now bankrupt companies. Listen to Bloomberg Crypto on the iHeartRadio App , Apple Podcasts or Spotify . Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Wed, November 30, 2022
We’re just going to keep saying this: news moves fast in crypto. To help us stay on top of it, the show take on some of the pivotal but perhaps less well known players in crypto - players whose names all begin with G. Bloomberg reporter Yueqi Yang joins to discuss Genesis, Galaxy, Gemini and more. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Tue, November 29, 2022
For a while, there was a real buzz around owning land in the metaverse. As one theory went, Millennials and Gen Z’ers who’d given up on being able to afford a physical property would splurge on a virtual one instead. Well, it’s not quite turning out that way. Despite the hype - and investments by everyone from Snoop Dogg to the Bajan government - owning property in the metaverse so far hasn’t turned out to be a winning investment. Bloomberg reporter Carly Wanna joins the show to discuss why some are still betting on virtual property despite falling prices and declining user activity. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Mon, November 28, 2022
In late 2022, Hong Kong updated its crypto regulations in a way that signaled a goal of increasing retail access to the asset class. In sharp contrast, nearby Singapore tightened regulations after big losses this year for retail investors. Korea, still dealing with the aftermath of the collapse of the Terra / Luna tokens, is currently focussing on enforcement. And India, somewhat uniquely in the region, is using tax policy to drive behavior. Bloomberg senior editor for crypto, Sunil Jagtiani , joins this episode to talk about how different Asian countries are approaching crypto regulation in the shadow of the FTX collapse. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Bonus · Sun, November 27, 2022
Listen to the fifth audio excerpt from a special issue of Businessweek magazine, The Crypto Story. Bloomberg columnist Matt Levine uses the full issue to explain where crypto came from, what it means and why it matters. This episode is voiced by Bloomberg Businessweek editor Mark Leydorf. See omnystudio.com/listener for privacy information.
Bonus · Sat, November 26, 2022
Our colleagues on QuickTake, Tim Stenovec and Katie Greifeld , host a weekly video series called QuickTake IRL - In Real Life. Just for listeners of the Bloomberg Crypto podcast, we've got an audio version of their latest episode. Enjoy! Find the full video experience of the shows here. See omnystudio.com/listener for privacy information.
Fri, November 25, 2022
We on the Crypto podcast team are taking a short pause to give thanks and spend some time with loved ones. And we wanted to share one of our favorite previous episodes with you. We'll be back with new episodes on Monday. Enjoy! The gaming industry is bigger in revenue terms worldwide than the film and television industries combined. But it also continues to deal with hard and necessary conversations over who benefits from those profits, over work and labor conditions, and (as always) about intellectual property. Adding blockchain and NFT's might just complicate things a bit more. Bloomberg reporter Cecilia D'Anastasio joins this episode to discuss why and how crypto is showing up in video games. See omnystudio.com/listener for privacy information.
Thu, November 24, 2022
In the spirit of the Thanksgiving holiday in the U.S., we wanted to re-up this episode that we really love from earlier in the year. We are thankful for you, our listeners. And to all who celebrate, we wish you a joyful day. Enjoy! Earlier this year, pop music duo The Chainsmokers released 5,000 nonfungible tokens for free. These NFTs gave fans a 1% cut of the streaming royalties from their latest album, as well as priority access to concert tickets and free merchandise. The Chainsmokers aren’t the first musicians to experiment with crypto, NFTs or blockchain, and they’re unlikely to be the last. Royal, a startup that's looking to give fans more access and more investment opportunities related to the bands they love, partnered with The Chainsmokers to give their fans a stake in their success. Royal CEO Justin Blau joins this episode, along with Bloomberg reporter Hannah Miller . See omnystudio.com/listener for privacy information.
Wed, November 23, 2022
Have you heard the one about “the box”? In April 2022, long before Sam-Bankman Fried was tweeting rambling threads about the collapse of his FTX empire, he joined the Bloomberg Odd Lots podcast and talked about “the box”. It was his metaphor for describing the crypto practice of “yield farming”, and his description at the time raised many an eyebrow because it seemed, well, too good to be true. Joining this episode is Joe Weisenthal, co-host of the Odd Lots podcast, who at the time ended that episode with the deeply relatable comment, “we all feel weird.” See omnystudio.com/listener for privacy information.
Tue, November 22, 2022
Before chaos broke out in the crypto market with the collapse of FTX, a report by digital-assets researcher CryptoCompare found that Bitcoin’s value…was still dropping. It appeared the industry wasn’t just heading into winter, but a possible “Crypto Ice Age.” Then the stunning downfall of crypto exchange FTX, which halted withdrawals and declared bankruptcy, and the resignation of its CEO Sam Bankman-Fried, sparked a wide-ranging market downturn with Bitcoin dropping from its previous plateau of around $20,000. As the digital-asset industry continues to adapt to a post-FTX reality, what will it mean for Bitcoin’s value? Bloomberg reporters Olga Kharif and Vildana Hajric join this episode to discuss. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Mon, November 21, 2022
In a crisis, there are always winners and losers. So, who are some of the players who might emerge stronger from the latest calamity to hit the cryptoverse? And will the fallout rekindle the tense debate over centralized entities versus decentralized protocols? Bloomberg reporter Sidhartha Shukla joins Bloomberg managing editor of crypto Stacy-Marie Ishmael to discuss this and more in our latest episode. See omnystudio.com/listener for privacy information.
Bonus · Sun, November 20, 2022
Listen to the fourth audio excerpt from a special issue of Businessweek magazine, The Crypto Story. Bloomberg columnist Matt Levine uses the full issue to explain where crypto came from, what it means and why it matters. This episode is voiced by Bloomberg Businessweek editor Mark Leydorf. See https://omnystudio.com/policies/listener for privacy information. See omnystudio.com/listener for privacy information.
Bonus · Sat, November 19, 2022
Our colleagues on QuickTake, Tim Stenovec and Katie Greifeld , host a weekly video series called QuickTake IRL - In Real Life. Just for listeners of the Bloomberg Crypto podcast, we've got an audio version of their latest episode. Enjoy! Find the full video experience of the shows here. See omnystudio.com/listener for privacy information.
Fri, November 18, 2022
It’s been another unprecedented week in the crypto ecosystem. Fast moving information and news about digital assets has kept coming as the market struggles with the repercussions of FTX declaring bankruptcy and the resignation of former CEO Sam Bankman-Fried. Events continue to unfold at lightning speed with great consequences for so many investors. Bloomberg crypto senior editor Philip Lagerkranser and Bloomberg senior crypto editor for Asia, Sunil Jagtiani join the show to discuss the latest. See omnystudio.com/listener for privacy information.
Thu, November 17, 2022
This week on the podcast, we’ve attempted to unpack the spectacular downfall of one of the biggest crypto exchanges and how it has possibly changed the sector forever. A month ago, if someone would have told us that crypto exchange FTX was potentially mismanaging customer funds, funneling money into its sister trading firm Alameda Research, and would soon weigh on the crypto industry, we wouldn't have believed them. As more details about its general finances emerge, we're starting to better understand how FTX and its former CEO Sam Bankman-Fried might have managed to change the industry forever. How much of a mess was FTX in? How did nobody notice? And how will this shape the future of crypto? Bloomberg reporters Katie Greifeld and Vildana Hajric ask Bloomberg opinion columnist Matt Levine for the long view. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter This podcast is produced by the Bloomberg Crypto Podcast team: Supervising producer: Vicki Vergolina, Senior Producer: Janet Babin, Producers: Sharon Beriro and Muhammad Farouk, Associate Producers: Mo Andam and Ty Butler. Sound Design/Engineer: Desta Wondirad. See omnystudio.com/listener for privacy information.
Wed, November 16, 2022
Around this time last year, the very first Bitcoin-linked exchange-traded fund debuted - the ProShares Bitcoin ETF, which trades under the ticker BITO. The launch marked a milestone for the digital-asset industry: It opened up the opportunity for more mainstream investors to dip their toes into cryptocurrencies. The ETF had a stellar start: it was the second-most heavily traded fund on record, and it gathered more than $1 billion in assets in record time. Back then, Bitcoin was trading at around $65,000 and retail investing in crypto was booming. But in hindsight, the timing was … unfortunate. Just two months after its debut, Bitcoin started to crash. Soon after that, a collapse of crypto hedge funds and stablecoins dropped the coin’s trading value to about $20,000. Now, BITO has sunk over 70% . Could its future hold more promise? Bloomberg reporter Katie Greifeld joins Vildana Hajric for this episode around BITO one year in. This podcast is produced by the Bloomberg Crypto Podcast team: Supervising producer: Vicki Vergolina, Senior Producer: Janet Babin, Producers: Sharon Beriro and Muhammad Farouk, Associate Producers: Mo Andam and Ty Butler. Sound Design/Engineer: Desta Wondirad. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Tue, November 15, 2022
The crypto industry descended into chaos last week after a series of fast moving events. The trouble purportedly started after Binance CEO Changpeng Zhao tweeted that the crypto exchange would sell off some of rival exchange FTX’s native token, FTT, due to ‘risk management’ issues. That drove the price of FTT down and fueled a selloff. Soon after, FTX was forced to halt withdrawals from the exchange. CEO Sam Bankman-Fried -- or SBF as he’s known -- started shopping around for a bailout. Then Bankman-Fried tweeted that the company had found a savior in its former rival, Binance. But within a day the deal was off. Binance backed out citing due diligence concerns and FTX’s questionable handling of its customers’ funds. Documents were leaked showing FTX was dealing with significant financial difficulties and appeared close to collapse, which apparently it was: FTX soon filed for bankruptcy and Bankman-Fried resigned as his $16 billion dollar fortune evaporated . A spectacular outflow of money from crypto exchanges ensued and Bloomberg reported that federal probes of FTX and SBF were underway. How did it all go so wrong for FTX and what does this mean for the future of digital-assets? We have the latest updates with Bloomberg reporters Katie Greifeld and Vildana Hajric . This podcast is produced by the Bloomberg Crypto Podcast team: Supervising producer: Vicki Vergolina, Senior Producer: Janet Babin, Producers: Sharon Beriro and Muhammad Farouk, Associate Producers: Mo Andam and Ty Butler. Sound Design/Engineer: Desta Wondirad. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Mon, November 14, 2022
It’s a day ending in Y, which means we’re going to talk about crypto hacks. Yes, these are all too common - in October alone, hacks, attacks and clever exploits (more about those in a second) cost the crypto industry an estimated $700 million. Now when we talk about hacks, you might (correctly) picture sophisticated state-sponsored groups like North Korea’s Lazarus, or more run-of-the-mill attacks on Twitter or Instagram. But there's another kind of exploit that’s really raising eyebrows in crypto these days - one that involves taking advantage of how platforms are supposed to work. One type of exploit is a price-manipulation attack - which is what happened to a DeFi platform called Mango. The person who did the exploit initially walked away with a cool $100 million. To better understand what’s at stake for DeFi, Bloomberg reporter Muyao Shen joins this episode. Also featured is Evgeny Gaevoy, CEO and founder of Wintermute, a trading platform that was itself hacked for $160 million back in September. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Bonus · Sun, November 13, 2022
Listen to the third audio excerpt from this week's special issue of Businessweek magazine, The Crypto Story. Bloomberg columnist Matt Levine uses the full issue to explain where crypto came from, what it means and why it matters. This episode is voice by Bloomberg Businessweek editor Mark Leydorf. See https://omnystudio.com/policies/listener for privacy information. See omnystudio.com/listener for privacy information.
Bonus · Sat, November 12, 2022
Our colleagues on QuickTake, Tim Stenovec and Katie Greifeld , host a weekly video series called QuickTake IRL - In Real Life. Just for listeners of the Bloomberg Crypto podcast, we've got an audio version of their latest episode. Enjoy! Find the full video experience of the shows here. See omnystudio.com/listener for privacy information.
Fri, November 11, 2022
The equivalent of an earthquake jolted the crypto world this week: Binance, the world’s largest cryptocurrency exchange, announced and then quickly reversed a proposal to buy out rival exchange FTX, which was reportedly facing a liquidity crisis and on the brink of collapse. The companies are each owned by two of the most well known CEOs in crypto: Sam Bankman-Fried at FTX, who has been touted as crypto’s version of legendary banker J.P. Morgan, and Binance CEO Changpeng Zhao, known as “CZ.” Meanwhile, Bloomberg reported that US authorities, including the Securities and Exchange Commission, are reviewing FTX for improper use of customer funds. Bloomberg’s senior crypto editor Philip Lagerkranser updates this moving story with fellow Bloomberg senior crypto editor Anna Irrera in this episode. See omnystudio.com/listener for privacy information.
Thu, November 10, 2022
One of the core fundamentals that personifies the Bloomberg newsroom is its commitment to data. As part of that commitment, the Markets Live team does a weekly investor survey, asking questions about different elements of financial markets. It’s called the MLIV Pulse Survey - because it’s the Markets Live team taking the pulse of financial markets. In October, the team asked investors for their opinions about crypto. On this episode, Bloomberg senior editor Kasia Klimasinska with the Markets Live team explains the survey’s results, joined by Bloomberg reporter Vildana Hajric. Editor’s Note: This episode is about a Bloomberg survey of investor sentiment relating to crypto. We collected the survey results before FTX revealed it was facing significant financial difficulties, triggering a market downturn. See omnystudio.com/listener for privacy information.
Wed, November 09, 2022
Evangelists of web3 - a term popularized by venture capitalist Chris Dixon - will often say that a big goal of the whole thing is giving more power to creators, and especially monetary power. Web3, these proponents say, allows artists, musicians, and creators of all stripes to cut out middlemen and intermediaries and to retain more of the financial benefits of their work. In other words, why pay a platform or an agent when you can keep all your royalties yourself? That’s where things get complicated. If you’re a musician or an artist and you sell your work as an NFT, you’ll definitely get paid the first time you sell that song or piece of art. But what happens if the person who bought it sells it to someone else? In the idealized world of web3, you’d get a royalty on that sale - automatically. In reality, most of these transactions aren’t setup that way. For more on the current state of NFTs, and how platforms are thinking about royalties, Bloomberg crypto reporter Olga Kharif and Lauren van Haaften Schick join this episode. Lauren is an Andrew W. Mellon Postdoctoral Fellow at Wesleyan University’s Center for the Humanities. See omnystudio.com/listener for privacy information.
Tue, November 08, 2022
One of the bigger fights in crypto right now is over the definition of a security - what counts as a security, and who gets to decide - and therefore regulate - that. This isn’t just about semantics: the answer to that question affects trillions of dollars of assets in the United States, including crypto assets. In December 2020, the SEC accused Ripple Labs, issuers of the Ripple token, of having conducted “an unregistered, ongoing digital asset securities offering that raised $1.3bn. Nearly two years later, that fight is still ongoing. Most recently, Ripple asked the court involved to dismiss the SEC’s complaint. Among other things, Ripple does not agree with the SEC’s assertion that its token counts as a security. Who’s right? And what are the consequences, either way? Bloomberg reporters Matt Robinson and Chris Dolmetsch and attorney Elizabeth Davis join this episode to explain. See omnystudio.com/listener for privacy information.
Mon, November 07, 2022
Given how the crypto industry feels about fast cars and men with big personalities, it’s perhaps no surprise that crypto is emerging as one of the biggest sponsors of Formula 1. Formula One racing is marketed as being all about competition that rewards instinct, speed, engineering innovation, and sheer adrenaline. Companies ranging from FTX to Crypto.com have spent millions of dollars on flashy deals. Around 80% of F1 teams have at least one crypto partner. Crypto.com even has a $100 million deal with the Formula One Group itself. But in this current market environment, how long can crypto firms keep splashing the cash? In this episode, Bloomberg senior editor Anna Irrera and Bloomberg crypto blogger Emily Nicolle discuss the future of crypto’s fast car sponsorships. See omnystudio.com/listener for privacy information.
Bonus · Sun, November 06, 2022
Listen to the second audio excerpt from this week's special issue of Businessweek magazine, The Crypto Story. Bloomberg columnist Matt Levine uses the full issue to explain where crypto came from, what it means and why it matters. This episode is voice by Bloomberg Businessweek editor Mark Leydorf. See https://omnystudio.com/policies/listener for privacy information. See omnystudio.com/listener for privacy information.
Bonus · Sat, November 05, 2022
Our colleagues on QuickTake, Tim Stenovec and Katie Greifeld , host a weekly video series called QuickTake IRL - In Real Life. Just for listeners of the Bloomberg Crypto podcast, we've got an audio version of their latest episode. Enjoy! Find the full video experience of the shows here. See omnystudio.com/listener for privacy information.
Fri, November 04, 2022
It’s been another pretty unpredictable week in crypto. Now that Elon Musk is at the helm of Twitter, what do his plans for the social media company have in store for digital assets? Why is Dogecoin rallying? And what’s the outlook for crypto earnings this quarter? Bloomberg crypto senior editor Dave Liedtka and deputy editor Beth Williams join this episode for a look at the top stories of the week in the cryptoverse. See omnystudio.com/listener for privacy information.
Thu, November 03, 2022
As our colleague David Pan has been reporting, Bitcoin miners have been having a very rough time of it. To paraphrase one of his recent stories, falling Bitcoin prices and rising energy costs “led to combined second-quarter losses of more than $1 billion for the top three US publicly traded players — Core Scientific, Marathon Digital and Riot Blockchain.” Yikes. This crunch has led to miners trying to raise cash by selling off their emergency stockpiles of Bitcoin - into the teeth of a down market. At the same time, miners continue to flock to places like Texas - and not everyone is a fan of these relatively recent arrivals. Texas isn’t known for having the world’s most stable power grid, so miners and state officials have sought to pilot ways to address concerns about energy consumption . Bloomberg reporters David Pan and Michael Smith join this episode for more on how the miners are holding up. See omnystudio.com/listener for privacy information.
Wed, November 02, 2022
Crypto is notorious for its volatility. All its wild swings in prices have become a trademark of the market. And it’s also something that has for years now shaped the trading behaviors of investors looking to make a quick profit. But what happens when the market’s largest digital asset , Bitcoin, starts losing its volatility? For the last four months, the coin has traded in a tight range around $20,000 , unable to break out in any real way. How have crypto investors– who are used to trading on the ups and downs of the coin– responded? How have their investing strategies shifted? For more on how traders are dealing with Bitcoin’s stasis, guest host and Bloomberg reporter Vildana Hajric is joined by Bloomberg reporter Katie Greifeld . See omnystudio.com/listener for privacy information.
Tue, November 01, 2022
About a year ago, Nigeria introduced a digital version of its official currency, the naira. The introduction of the so-called e-naira was partly a response to concerns that the rising popularity of crypto in the country was threatening the banking system. There are a few countries experimenting with their own versions of digital money, including the Central African Republic, China, Jamaica, The Bahamas, and various islands in the Eastern Caribbean. Other countries, including the United States, are in the “studying” and “thinking deep thoughts about feasibility” phase of things. So how’s it going for Nigeria and the e-naira? Bloomberg reporter Ruth Olurounbi and Bloomberg Nigeria Bureau Chief Anthony Osae-Brown weigh in. See omnystudio.com/listener for privacy information.
Mon, October 31, 2022
You’ve likely heard of Bitcoin and Ether as digital tokens, but there’s actually tens of thousands of cryptocurrencies you probably haven’t heard of. In fact over 12,000 of those coins are virtually defunct. Not that they’re ‘dead’ per say- but they’re also not considered ‘alive’ or active. They’re called ‘zombie’ coins: tokens that have stopped trading activity as of late and are simply dormant. These zombified coins are not a new phenomenon, but the substantial increase in their volume (from the hundreds in 2019 to 12,100 at recent count) has been eye-opening as another symptom of chilly market conditions. Bloomberg reporter Olga Kharif joins Bloomberg senior markets editor Mike Regan to wade through what happens when a market has so many inactive currencies, and what it says about the crypto industry's overall health. See omnystudio.com/listener for privacy information.
Bonus · Sun, October 30, 2022
Listen to the first audio excerpt from this week's special issue of Businessweek magazine, The Crypto Story. Bloomberg columnist Matt Levine uses the full issue to explain where crypto came from, what it all means, and why it matters. This episode is voiced by Bloomberg Businessweek Editor Mark Leydorf. See omnystudio.com/listener for privacy information.
Bonus · Sat, October 29, 2022
Our colleagues on QuickTake, Tim Stenocec and Katie Greifeld, host a weekly video series called QuickTake IRL - In Real Life. Just for listeners of the Bloomberg Crypto podcast, we've got an audio version of their latest episode. Enjoy! Find the full video experience of the shows here. See omnystudio.com/listener for privacy information.
Fri, October 28, 2022
This week in crypto, we are settling in to crypto's new norms: like bitcoin now being range-bound: trading steadily between $19k-$20k. And we are still waiting to see if the so-called ‘Uptober’ will shake out. But, hey, trading is still happening…and the SEC’s uptick in regulation efforts are being viewed as a boon to investors. According to the latest MLIV Pulse survey , would-be Crypto investors are cautiously optimistic about having more crypto guardrails on the way. Also, Apple updated its language regarding crypto transactions on every app in its store. And Finally, we have a big story. Actually one story to rule them all. And that’s The Crypto Story by Bloomberg Columnist Matt Levine. To break down the latest, crypto senior editor Philip Lagerkranser is joined by Bloomberg crypto senior editor Anna Irrera and Bloomberg reporter Muyao Shen. See omnystudio.com/listener for privacy information.
Thu, October 27, 2022
Let’s say you’re a crypto startup trying to raise money from venture capitalists. All things being equal, you’d have done decently well in 2020, ridiculously well in 2021, and not bad at all in the first half of 2022. But right now? Maybe not so much. Bloomberg reporter Hannah Miller joins this episode to discuss what’s happening with crypto VCs and the startups who need them. See omnystudio.com/listener for privacy information.
Wed, October 26, 2022
Ethereum’s Merge has created a new class of blockchain participants, called ‘builders.' It's a significant shift in the current decentralized ecosystem. There are a relatively small number of these builders, but they have a significant amount of power on the blockchain. What exactly do these builders do? Why are critics so concerned? Joining this episode to discuss are Bloomberg Crypto reporters Olga Kharif and David Pan. See omnystudio.com/listener for privacy information.
Tue, October 25, 2022
Some of you may already know the work and writing of Bloomberg Opinion columnist Matt Levine . For everyone else — well you’re in for a treat. Matt’s just published many thousands of words on the subject of crypto for a special issue of Bloomberg Businessweek. It lives HERE. He joins this episode to talk about what motivated him to do such an intensive dive into the blockchain, why he thinks of crypto as a “living laboratory” for innovation, and what prompted him to start at the very beginning, with one big question: what is crypto for? See omnystudio.com/listener for privacy information.
Mon, October 24, 2022
September is traditionally a bad month for crypto - a down month for the past five years. But for Bitcoin proponents, October might hold something a bit more hopeful. The month of pumpkins and Halloween has typically been one of the best months for Bitcoin price gains. Advocates are crossing their fingers that the same thing will happen this year, especially as Bitcoin’s total market share has risen to 48% , its highest since 2017. To better understand what lies ahead for BTC, Bloomberg reporter Hannah Miller joins Bloomberg’s Vildana Hajric. See omnystudio.com/listener for privacy information.
Bonus · Sat, October 22, 2022
Our colleagues on QuickTake, Tim Stenovec and Katie Greifeld, host a weekly video series called QuickTake IRL - In Real Life. Just for listeners of the Bloomberg Crypto podcast, we've got an audio version of their latest episode. For the full experience, find them on the web here. See omnystudio.com/listener for privacy information.
Fri, October 21, 2022
This is episode 100 of the Bloomberg Crypto podcast. When we launched, in June, Bitcoin was trading around $30,000. Celsius and Three Arrows Capital hadn’t yet filed for bankruptcy. People knew where Do Kwon was. Celebrities cared about NFTs. It was a different time. When we launched, we knew what we wanted to do: every day, we’d take a look at all things digital assets. And we’d talk to reporters, editors, analysts, investors, industry experts, academics, policymakers - all in service of helping you better understand how crypto is shaping (and being shaped by) finance and culture. For this hundredth episode, we’re flipping the focus just a little. We’re going to spend some time answering your questions, and hearing from Bloomberg senior executive editor Chris Nagi about how he thinks this whole crypto thing is going. See omnystudio.com/listener for privacy information.
Thu, October 20, 2022
It might seem like the conversation about the metaverse right now is a combination of jokes about Mark Zuckerberg’s digital legs, snark about the cost of virtual reality headsets, and a real lack of clarity on why any corporation might want to be in the space. So we asked Matthew Boyle, a Bloomberg reporter who’s written a lot about the future of work, to help explain what’s going on here. Specifically, what’s happening with businesses hiring Chief Metaverse Officers - and what these folks do all day. See omnystudio.com/listener for privacy information.
Wed, October 19, 2022
Wealthy crypto investors are dumping a bunch of money into US politics, especially ahead of November’s congressional elections. Over the past 15 or so months, crypto-affiliated donors have sent roughly $70 million to political causes - topping what traditional players like defense and big pharma are spending. One of the most prolific donors in the space is Sam Bankman-Fried, the billionaire co-founder of FTX. Bankman-Fried has said that he could spend up to $1 billion on the 2024 presidential election. Zach Cohen from Bloomberg Government and Bloomberg campaign finance reporter Bill Allison join this episode to discuss how crypto is shaping the political landscape. See omnystudio.com/listener for privacy information.
Tue, October 18, 2022
Bankruptcies can be chaotic times for companies, and for their creditors. Investors, vendors, and former customers often end up jostling in court to get their share of what they lost from what remains of the firm. In the crypto space, bankruptcies can bring even more questions. Some restructuring lawyers say the U.S. bankruptcy code still does not adequately address how to handle crypto assets. But just like other bankruptcy cases, there will be winners and losers. To explain what happens to crypto assets during these times, Bloomberg reporter Justina Lee, and Thomas Braziel, founder of 507 Capital join this episode. See omnystudio.com/listener for privacy information.
Mon, October 17, 2022
It’s October 2021. Crypto prices are rocketing. Celebrities can’t stop talking about NFTs. There’s packed conferences in glitzy venues attended by people wearing t-shirts with cartoon monkeys on them. If you’re an executive at a big gaming studio, you might be forgiven - maybe - for sending one of those emails with the subject line: NFT strategy question mark. And several executives at these gaming companies did indeed send those emails. And some of their companies even announced plans to make blockchain gaming happen. Flash forward about a year. Celebrities aren’t talking about their NFTs. People are trying to sell their Apes. And gaming studios don’t seem quite so convinced that they need an NFT strategy. Joining this episode are Bloomberg reporter Emily Nicolle and Mark Venturelli, CEO and creative director at game studio Rogue Snail, who’s also a game developer. See omnystudio.com/listener for privacy information.
Bonus · Sat, October 15, 2022
Our colleagues on QuickTake, Tim Stenovec and Katie Greifeld, host a weekly video series called QuickTake IRL. Just for listeners of the Bloomberg Crypto podcast, we’ve got an audio version of their latest episode. For the full video experience, find them on the web at https://www.bloomberg.com/qt/series/crypto-irl , on Bloomberg TV or over on YouTube. See omnystudio.com/listener for privacy information.
Fri, October 14, 2022
It’s been (another) busy week for digital assets. And now that we’re well into October, we have a better idea of whether the month will deliver a boost to crypto value as it has in years past. Guest-host and senior crypto editor Anna Irrera reviews some regulatory actions that took place this week and considers what smoke signals it may be sending to investors and to companies. Plus, a look at how China’s crypto ban has played out - spoiler alert: it’s not unfolding like many expected it would. Joining Anna for this episode is Bloomberg senior crypto editor Philip Lagerkranser and Bloomberg Crypto blogger Emily Nicolle , who wrote about DeFi’s current doldrums in this week’s Crypto Newsletter. See omnystudio.com/listener for privacy information.
Thu, October 13, 2022
It seems that the Securities and Exchange Commission has finally found a way to keep up with the Kardashians. The US Markets regulator announced last week that Kim Kardashian had agreed to pay $1.26 million to settle allegations that she broke US rules by touting a crypto token. The SEC alleges Kardashian did not disclose that she was paid $250,000 to post on her Instagram account about EMAX token, a crypto asset offered by Ethereum Max. Kardashian settled without admitting or denying the SEC allegations. And she agreed to refrain from touting any additional digital assets for three years. But what are the broader implications of the SEC’s action? And is it a warning shot that stricter adherence to the rules is on the way? Bloomberg crypto and regulation reporter Allyson Versprille and Bloomberg financial lifestyles and money culture reporter Misyrlena Egkolfopoulou join this episode. See omnystudio.com/listener for privacy information.
Wed, October 12, 2022
What do Michael Saylor, Jesse Powell, Michael Moro, Sam Trabucco, Brett Harrison and Alex Mashinsky have in common? If you said they’re dudes who used to be crypto CEOs and suddenly weren’t anymore, you’d also be correct. This crypto winter has seen a string of high-profile exits from the C-suite. But what’s driving all this activity? Is it Bitcoin prices falling more than 50%? Is it the bankruptcy filings? Is it the SEC breathing down your neck? Is it the wanting to spend more time with your yacht in the Bahamas? Perhaps even all of these at once. For more on this succession-level crypto drama, this episode features Bloomberg reporter Yueqi Yang and Deepali Vyas, Executive Search Recruiter at global consulting firm Korn Ferry. See omnystudio.com/listener for privacy information.
Tue, October 11, 2022
Back in March, President Biden issued an Executive Order that directed every relevant federal agency to work on guidance related to crypto - and then to report back. We’re now into that “time to report back” window, and the White House, along with other agencies, have started providing updates on their findings. On the White House end, the policy recommendations included better suggestions focused on better consumer and investor protections. But what about agencies like the Securities and Exchange Commission or the Commodity Futures Trading Commission, both of whom have a stake in crypto regulation? Bloomberg reporter Allyson Versprille joins this episode to break down the latest developments. See omnystudio.com/listener for privacy information.
Mon, October 10, 2022
The cooling crypto atmosphere and the subsequent downturn in trading has had a domino effect for people who work in the sector. In the wake of plummeting prices, a flurry of crypto firms reduced their numbers with significant layoffs. Coinbase announced an 18% reduction of it’s workforce, BlockFi cut their headcount by 20% and Crypto.com by 5% . So, what happens to these former crypto employees? An increasing number of them are getting snatched up by traditional financial firms or Trad-Fi. The skills that these talented engineers and developers have accumulated is now very much in demand with Trad-Fi firms, who want to explore the crypto space and experiment with blockchain technologies. Bloomberg reporters Will Shaw and Aisha Gani join this episode to explore why Trad-Fi institutions are swooping in for laid off De-Fi experts. See omnystudio.com/listener for privacy information.
Sat, October 08, 2022
Our colleagues on QuickTake, Tim Stenovec and Katie Greifeld, host a weekly video series called QuickTake IRL. Just for listeners of the Bloomberg Crypto podcast, we’ve got an audio version of their latest episode. For the full video experience, find them on the web at https://www.bloomberg.com/qt/series/crypto-irl , on Bloomberg TV or over on YouTube. See omnystudio.com/listener for privacy information.
Fri, October 07, 2022
It’s been (another) busy week in digital assets. What’s the latest in the markets? Are there any crypto CEOs left? Regulation: will it ever happen? Unclear! Bloomberg crypto editor Beth Williams and Bloomberg reporter Allyson Versprille join this episode to help break down this weeks’ news. See omnystudio.com/listener for privacy information.
Thu, October 06, 2022
How do you go from video game studio to major crypto VC in the space of a few short years? That’s exactly the path that Animoca Brands has been on. Since its founding in 2014, Animoca has expanded well beyond making games to come to own and operate a portfolio of investments and acquisitions that includes more than 300 different finance, gaming, and social media companies. Yat Siu, Animoca’s co-founder, has become one of the most influential people in technology. Bloomberg reporter Zheping Huang joins this episode to chart the path of Animoca and its founder from indie game studio to crypto conglomerate. See omnystudio.com/listener for privacy information.
Wed, October 05, 2022
Do you remember Adam Neumann? The WeWork co-founder and former CEO who stepped down in 2019 in a cloud of accusations about eccentric behavior, sky-high expenses, and general extravagance? The one with an Apple TV miniseries about his rise and fall starring Jared Leto? Well, Adam Neumann is back. Now, with bonus crypto , and an exceptionally large $350 million dollar check from the venture capitalists over at Andresseen Horowitz. To discuss these projects (and why the word ‘Flow’ is the new ‘We’) Bloomberg reporter Hannah Miller joins this episode. See omnystudio.com/listener for privacy information.
Tue, October 04, 2022
For many of us, the pandemic has meant getting to know what it’s like to work remotely and in most cases from home But in crypto, remote working had already been the norm for some time, with many workers roaming the world all year round and logging in from dreamy locations like the sandy beaches of the Caribbean or the palm-lined promenades of Miami Beach When crypto prices were high, these roving crypto workers enjoyed the benefits of being a digital nomad, moving from country to country in an attempt to leave behind the stress, expense and bustle that’s often associated with large financial centers. But now that the crypto market isn’t quite as sunny, many of these nomads have started trickling back to the financial hubs of the world. Bloomberg reporter Tanzeel Ahktar and Panther Protocol CEO, Oliver Gale join this episode to share more about the crypto nomad lifestyle and why, for the time being, some have decided to give it up. See omnystudio.com/listener for privacy information.
Mon, October 03, 2022
Perhaps you’ve heard of Molly White. The software engineer and crypto skeptic has been profiled in numerous publications. She has more than 80,000 followers on her personal Twitter, and more than 100,000 on an account called ‘web3 is going just great’. It is, as you might guess, a chronicle of all the ways that Web 3 is not going so great. Molly White joins this episode to talk through her skepticism of digital assets. See omnystudio.com/listener for privacy information.
Bonus · Sat, October 01, 2022
This special bonus episode features Bloomberg QuickTake’s Katie Griefeld and Tim Stenovec. The pair have created a new video series called Crypto IRL. It takes us behind the scenes of this current crypto winter, and features interesting perspectives from special guests. You can catch the new series on a range of platforms including Bloomberg TV and YouTube. For more information, go to Bloomberg.com/QT See omnystudio.com/listener for privacy information.
Fri, September 30, 2022
With apologies to TS Eliot - in finance, September is commonly held to be the cruelest month of the trading calendar. This extends to the crypto markets, too: Almost every year since 2013, Bitcoin prices struggle come September. And market conditions have been especially unforgiving this year. So what’s the outlook for crypto asset prices as we leave September behind? Joining this episode from Sydney is Jamie Coutts, crypto market analyst for Bloomberg Intelligence. See omnystudio.com/listener for privacy information.
Thu, September 29, 2022
On Tuesday September 27th, Bloomberg reporters Allyson Versprille and David Pan participated in a Twitter Spaces with Costa Samaras . Samaras is the White House’s chief advisor for energy policy in the Office of Science and Technology Policy. They spoke about the office’s crypto climate report and what’s next for US efforts. This episode features highlights from that conversation. Read more here See omnystudio.com/listener for privacy information.
Wed, September 28, 2022
If you’ve ever found yourself on Crypto Twitter, you’ll be familiar with the hype machine that keeps the industry’s thousands of projects going. Rallying cries of “WAGMI” — an acronym for We Are All Going To Make It — and “To the Moon!” abound, found in tweets from accounts with colorful, graphic profile pictures and usually a hashtag or two. But there are always two sides to a coin, and if you’ve come across a Twitter display name featuring the Tulip emoji, you might find a crypto skeptic instead. A reference to the Dutch tulip mania of the 1600s, these figures – technologists, academics and writers among them – are working to counteract crypto’s steady rise to the top with a dose of reality. Stephen Diehl is a software engineer by trade, a leading crypto skeptic and now co-founder of the recently established Center for Emerging Technology Policy. He joins this episode to break down crypto’s promises of a brighter tomorrow, and when he thinks it might actually be closer to myth. See omnystudio.com/listener for privacy information.
Tue, September 27, 2022
You may have heard of cryptocurrency exchange FTX and you may have heard of its CEO and Founder, Sam Bankman-Fried. But have you heard of Alameda Research? It’s not a Silicon Valley robotics lab but it is one of the largest and most influential cryptocurrency trading firms in the world. Founded by Sam Bankman-Fried and operating with a modest team of 30 employees, Alameda pocketed over $1 billion dollars in profit last year. The firm and its employees have, for the most part, preferred not to draw too much attention. In recent months though, it’s gotten harder for Alameda to fly under the radar, as the collapse of crypto has revealed a tangle of connections between Alameda, FTX and the broader virtual currency markets . But as Alameda’s influence spreads and connections emerge, so have concerns over potential conflicts of interests. Bloomberg reporter Hannah Miller joins guest host and Bloomberg crypto senior editor Anna Irrera in this episode to untangle these connections. See omnystudio.com/listener for privacy information.
Mon, September 26, 2022
For investors trying to get exposure to crypto, there are many different options available these days. Products like crypto ETFs, or exchange traded funds, are one of the most popular alternatives to owning tokens directly. What are crypto ETFs and how do they work? And what does it mean that many of the products pitched as ways to diversify your crypto portfolio are actually pretty similar to each other? Katie Greifeld joins this episode to tackle these questions. See omnystudio.com/listener for privacy information.
Fri, September 23, 2022
This September marks the one-year anniversary of China declaring that crypto transactions were effectively illegal. The decision wasn't entirely unexpected: China has been trying to crack down on crypto in one form or another since at least 2013. The 2021 declaration prompted some pretty swift and significant changes, including the uprooting of a Chinese Bitcoin mining community. This episode features Bloomberg reporters Yueqi Yang and David Pan , as well as Winston Ma, a Managing Partner & Co-Founder at CloudTree Ventures, who’s also an NYU Adjunct Professor in the global digital economy. See omnystudio.com/listener for privacy information.
Thu, September 22, 2022
So, ‘The Merge’ happened. After years of anticipation, multiple false starts and delays, the biggest ever software upgrade to the Ethereum blockchain is complete. And now the question is: what’s next? What are the other major milestones for the future of Ethereum’s ecosystem and the Ether token itself? In this episode, you’ll hear from Bloomberg reporter Olga Kharif and from Dave Liedtka , senior editor for crypto. See omnystudio.com/listener for privacy information.
Wed, September 21, 2022
Losses from this year's crypto winter have affected the entire cryptocurrency ecosystem, from hedge funds, to lenders, to countless individual retail investors. By most calculations, $2 trillion worth of value has been wiped out. Before the big chill, the estimated total market value of crypto assets worldwide stood around $3 trillion in November 2021. But how is market value calculated? And how representative is it of crypto’s actual economic value? Did the digital asset boom ever even happen? Is there an element of groupthink when it comes to crypto’s overall valuation? Do we need to rethink market value? Bloomberg reporter Vildana Hajric joins this episode to weigh in on this increasingly disputed metric. See omnystudio.com/listener for privacy information.
Tue, September 20, 2022
Miners are on the move again , forever chasing that combination of abundant electricity for relatively low prices. This time, they’re heading north of the Arctic Circle. Sweden and Norway are home to some of the most abundant energy sources in the world: geothermal, wind, and hydro electricity. These countries have increasingly become attractive to Bitcoin miners. But the combination of Russia’s invasion of Ukraine with rising inflation and environmental factors like drought, are curbing the availability of cheap electricity in these Nordic regions. Miners in some of these areas could even be regulated out of the market. Bloomberg Editor Lars Paulsson joins this episode to discuss what’s happening in the region. See omnystudio.com/listener for privacy information.
Mon, September 19, 2022
This episode explores a sector of the crypto universe that’s actually booming. Companies that specialize in finding vulnerabilities in crypto’s software infrastructure are flourishing. Why? Because crypto hacks and frauds are booming, with some estimates as high as $2bn in losses stemming from these attacks. Bloomberg reporter Olga Kharif and senior editor Anna Irrera join me now for more about these crypto sleuths. See omnystudio.com/listener for privacy information.
Fri, September 16, 2022
By now you’ve probably heard that El Salvador became the first country in the world to adopt Bitcoin as legal tender in September of 2021. Did you know the Central African Republic made a similar move in April, becoming the first country in Africa to welcome a cryptocurrency to its sovereign ranks? Cue almost immediate expressions of skepticism and concern from organizations like the International Monetary Fund, and the World Bank, to say nothing of internal disagreement and confusion within the country itself. Why would a country with very low levels of access to electricity or the internet follow the path of a digital token? Who stands to benefit, and who stands to lose? Joining this episode is Bloomberg reporter Katarina Höije . See omnystudio.com/listener for privacy information.
Thu, September 15, 2022
You might not have heard of Twitch, but it’s one of the most popular places on the internet. Millions of people every day use the app to watch their favorite live streams do everything from play videogames to solving math problems in real-time. Videogames are still the biggest category of live streams people tune into on Twitch, and the biggest games - like Grand Theft Auto and Fortnite - still dominate time spent on the platform. Recently however, there’s been a new addition to the top ten: gambling. Gambling, is the seventh most popular content category on Twitch. And it’s not just any gambling. It’s Crypto Gambling. Many streamers are paid handsomely by casinos to take part in this activity. But what about those who actually pay to play? And where is all this coming from? Bloomberg video game reporter Cecilia D’Anstasio joins this episode to talk about the toll of this growing trend. See omnystudio.com/listener for privacy information.
Wed, September 14, 2022
Ethereum's 'Merge' is expected to happen this week. What does that mean for you? In this episode Bloomberg Senior Editor Dave Liedtka talks with reporters David Pan and Olga Kharif during a recent Twitter Spaces event about the possible outcomes of the highly-anticipated software upgrade. See omnystudio.com/listener for privacy information.
Tue, September 13, 2022
It’s been one year since El Salvador adopted Bitcoin as legal tender. In September 2021, the Central American nation forged its own path as the first in the world to make the crypto currency an official part of their economy. According to tweets and statements from President Nayib Bukele the government has bought more than 2,000 BTC so far. So what’s the problem? Well, many of those purchases were at or near market highs. Price declines mean that, at least on paper, El Salvador has lost more than half the value of those purchases so far. And surveys of both consumers and businesses show most people in the country just aren’t using Bitcoin. Nonetheless, President Nayib Bukele and government officials are adamant that the nation’s strategy has expanded financial services to a larger segment of the population and encouraged tourism. What’s the real story of Bitcoin in El Salvador? Bloomberg reporter Mike McDonald joins this episode for more. See omnystudio.com/listener for privacy information.
Mon, September 12, 2022
Put a whole bunch of crypto transactions into a blender and lock them up in black box - what do you get? Something metaphorically similar to the experience of using a decentralized app called Tornado Cash. The currency mixer app allows users to move cryptocurrency around anonymously. But federal regulators say cyber criminals used the service for money laundering purposes. Tornado Cash was recently sanctioned by the U.S.Department of Treasury. Privacy is a key objective of many crypto proponents. And it’s one of the features that makes the asset class attractive to some investors. If this principle can’t be guaranteed, some say crypto’s utility becomes questionable. Bloomberg reporter Emily Nicolle joins this episode to discuss whether or not a decentralized service can truly be regulated, the issue of crypto privacy and the implications of sanctions on Tornado Cash and De–Fi in general. See omnystudio.com/listener for privacy information.
Fri, September 09, 2022
As crypto prices hover well below their all-time highs, the companies that mine Bitcoin are starting to show signs of financial strain. Second quarter earnings reports show that some of the largest U.S. publicly traded Bitcoin mining companies have over $1 billion in losses. Companies such as Core Scientific Inc. and Marathon Digital Holdings Inc. have each reported net losses of more than $100 million. Bloomberg reporter David Pan and Galaxy Digital’s Head of Crypto Mining, Amanda Fabiano join this episode to discuss what’s driving this distress. See omnystudio.com/listener for privacy information.
Thu, September 08, 2022
When we talk about the “crypto winter," we don’t only mean the months-long decline in prices of different coins and tokens. We’re also referring to organizational failures, crypto CEOs losing their jobs, and of course: bankruptcy filings. In July, two major crypto players, Voyager and Celsius, both declared bankruptcy. These filings have opened something of a pandora’s box surrounding the interpretation of US bankruptcy law as it relates to crypto. Asset holders, lenders, and the bankruptcy courts are navigating uncharted legal waters. Whatever the courts decide now could set landmark precedents for billions of dollars worth of crypto. To tackle these important and complicated legal questions, Georgetown Law Professor Adam Levitin joins this episode. Follow us on Twitter @crypto , and subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Wed, September 07, 2022
Singapore was an early proponent of crypto regulation, attempting to establish itself as a hub for global digital asset companies long before similar pronouncements by countries like the UK. For a time, it worked. And then 2022 happened, a year of high-profile crypto company failures and market meltdowns. Several of the biggest casualties of the chill of this crypto winter operated out of Singapore. It was a base for Three Arrows Capital, the disgraced crypto hedge fund, and others as well. These high-profile collapses have shone a harsh light on Singapore’s regulatory framework. What’s next for crypto in Singapore? Bloomberg reporters Joanna Ossinger and Suvashree Ghosh join this episode. See omnystudio.com/listener for privacy information.
Tue, September 06, 2022
By some estimates, major crypto hacks in 2022 have cost the crypto industry nearly $2 billion in stolen tokens. That’s *just* this year. And those headline numbers typically don’t take account of smaller exploits that target individual consumer accounts, for example. So the real number is even bigger. Crypto holders and the leaders of those organizations appear to be focusing on security. How should users protect their assets? What stronger security measures is the industry considering? And how? Bloomberg reporter Hannah Miller joins this episode. See omnystudio.com/listener for privacy information.
Fri, September 02, 2022
Crypto companies have spent more than $2 billion on sports advertising around the world . The NBA, Major League Baseball, Premiere League, Formula 1…. even the Drone Racing League has a crypto sponsor. But in a market downturn, how long will these big investments in sports sponsorships last? And can they persevere through this crypto winter? In this episode, Crypto senior editor Anna Irrera is joined by Bloomberg reporter Kim Bhasin to discuss the return on investment when it comes to crypto advertising. See omnystudio.com/listener for privacy information.
Thu, September 01, 2022
BlackRock, the world’s largest asset manager , teamed up with the crypto exchange Coinbase in a move that both Wall St and crypto types are watching closely. According to BlackRock, the partnership will help clients better manage and trade their Bitcoin. The deal comes at an interesting time for Coinbase, as it faces over $1 billion loss for the second quarter of 2022 and intense regulatory scrutiny on multiple fronts. Bloomberg reporters Yueqi Yang and Silla Brush join this episode for more on the latest Wall St foray into crypto. See omnystudio.com/listener for privacy information.
Wed, August 31, 2022
Tether, a stablecoin that trades under the ticker USDT, is the third-largest digital token by market value. It’s also one of the most actively traded tokens in the entire ecosystem and comes with two promises: each Tether has a stable value of $1 and each of those tokens is backed by a “real” dollar, or similarly liquid and reliable financial asset, like a bond issued by the US government. Those promises have not always been kept, which has kept Tether in the crosshairs of regulatory scrutiny and investor speculation. Bloomberg reporter Emily Nicolle joins this episode for the latest on Tether and its asset reserves. See omnystudio.com/listener for privacy information.
Tue, August 30, 2022
It’s the phrase on everyone’s lips: The Merge. It would be the Ethereum blockchain’s most ambitious software upgrade ever. After years of delays, it represents a fundamental overhaul of how the blockchain works, and would - if all goes according to plan - shift away from the energy-intensive approach known as “proof of work”. So, what does the Merge mean for users? What are the risks associated with this switch? And why is it finally happening now, after all these years? Bloomberg Crypto reporters Olga Kharif and David Pan join this episode to tackle these questions. See omnystudio.com/listener for privacy information.
Mon, August 29, 2022
Despite the continued crypto winter, NFTs are still bringing some heat for high end products. Non fungible tokens have become increasingly popular with many luxury brands, and remain a powerful draw for some consumers. High-end retailers Gucci and Tiffany are the latest to jump into the fray with new NFT offerings. Kering SA’s Gucci says it will accept ApeCoin as legal tender in select US stores. LVMH’s Tiffany & Co also announced it’s launching what it calls N-F-Tiffs: collectible vouchers that can be redeemed by owners of CryptoPunk NFTs for a custom jewelry piece. The demand for NFTs has slumped in recent months, so why are these brands so bullish on crypto? Bloomberg journalists Emily Nicolle and Taz Akhtar join Crypto Senior editor Anna Irrera on this episode to discuss why luxury brands have embraced NFTs. See omnystudio.com/listener for privacy information.
Fri, August 26, 2022
The day-to-day pulse of crypto can be unrelenting. And no two days are alike. To help distill the latest developments in the world of digital assets, stacy-marie is joined by two Bloomberg senior editors Anna Irrera and Philip Lagerkranser, for the latest edition of Friday in the Editor’s Room. In today's episode, the team tackles everything from why editors still need to be reporters to the Great Mayo Mystery and what condiments have to do with inflation. Indeed, the plot does thicken . See omnystudio.com/listener for privacy information.
Thu, August 25, 2022
Some of the biggest and brashest figures in crypto have faced staggering losses in this current downmarket. Multiple crypto companies have filed for bankruptcy, and more than one high-flying crypto CEO has found themselves out of a job. Case in point: Michael Saylor, the co-founder and former CEO of a software services firm called MicroStrategy. But software isn’t what made the company a household name among Bitcoin believers. Saylor’s decision to use the company’s balance sheet to bet big on Bitcoin back in 2020 is really what catapulted Microstrategy into the headlines. For a while, as Bitcoin prices rallied, that $250 million dollar bet looked like a genius move. But as prices fell, MicroStrategy found itself facing significant losses. What does this loss mean for the future of MicroStrategy, and for Michael Saylor? For more, Bloomberg senior editor Dave Liedtka and Bloomberg accounting specialist Tom Contiliano join this episode to discuss what happened at MicroStrategy. See omnystudio.com/listener for privacy information.
Wed, August 24, 2022
We’ve talked a lot about Bitcoin on the Bloomberg Crypto podcast - the world’s oldest, largest, and most popular cryptocurrency. But in this episode, we’re going to talk about the number two token - Ether, and about the blockchain it’s built on. Ether’s market value is still about half that of Bitcoin’s. But a recent surge - a whopping 50 percent since mid-June - has some Ether fans hoping it’ll unseat the number one crypto. There’s even a word for this theoretical event: it’s called the “flippening.” Could Ether overtake Bitcoin, upending more than a decade’s worth of Bitcoin dominance? And what would that mean for the future of crypto? To better explain what exactly the flippening entails, Bloomberg reporters Olga Kharif and Vildana Hajric join this episode. See omnystudio.com/listener for privacy information.
Tue, August 23, 2022
London’s convenient time zone, bustling city atmosphere, and impressive set of financial regulations have made it a top destination for banks and financial services companies to operate over the years. But the newness of crypto means there’s an international gap in the market for legal standards on digital assets. The Law Commission of England and Wales is an independent regulatory body that advises the UK government on reform. It’s been tasked with getting London ahead of the pack when it comes to regulating crypto. In this episode, Emily Nicolle, Crypto blogger for Bloomberg News, is in for Stacy-Marie Ishmael. She’s joined by Sarah Green and Matthew Kimber from the Law Commission to discuss the proposals they’ve made to Westminster. See omnystudio.com/listener for privacy information.
Mon, August 22, 2022
Multiple pieces of proposed crypto legislation are making their way through the U.S. political machine right now. And earlier this year, President Joe Biden issued an Executive Order on Ensuring Responsible Development of Digital Assets. It directs relevant federal agencies to figure out or define their position on crypto, and identify ways to both protect consumer rights and the rights of investors. Nathan Dean, a senior analyst at Bloomberg Intelligence, joins the podcast for a discussion of these complicated pieces of potential crypto legislation in the US. See omnystudio.com/listener for privacy information.
Fri, August 19, 2022
The fear of missing out, or FOMO, can be a driving force for some casual crypto investors. That feeling is often augmented by watching friends and family members make money from digital assets. There’s some evidence that personal relationships are key in driving new money into crypto. That’s great for everyone when the investment is doing well, but what happens when the markets shift and they start losing money? In this episode, Bloomberg crypto senior editor Anna Irrera speaks with Brian Hourigan and Adam Ghahramani, two friends with first hand experience of what it’s like to be in this position. See omnystudio.com/listener for privacy information.
Thu, August 18, 2022
Solana is one of the newer blockchains in crypto, and for a while was positioned by its fans as a challenger to the dominance of rival Ethereum. Solana’s developers say their blockchain is a faster and cheaper alternative to existing tech. But some users criticize the blockchain for what they call excessive outages, downtime and outright hacks. Still, interest in Solana is high. Now there’s a real-life retail location at a mall in New York City dedicated to the blockchain. It’s called Solana Spaces. We sent a reporter to check it out. See omnystudio.com/listener for privacy information.
Wed, August 17, 2022
For years, many crypto investors have been consumed by a single, persistent question as they’ve watched the prices of coins rise and fall, especially as of late: Wen Lambo? Bloomberg reporter Hannah Miller & Crypto VC Peter Saddington join this episode to discuss all your burning questions about one of the most visible status-symbols of crypto. See omnystudio.com/listener for privacy information.
Tue, August 16, 2022
The latest alleged hacks by some North Koreans entail plagiarized resumes placed on job sites and theft of proprietary intelligence. How did North Korea get so good at tricking crypto employers? And what does all of this mean for the security of crypto companies? Bloomberg reporter Jeff Stone joins this episode to explain. See omnystudio.com/listener for privacy information.
Mon, August 15, 2022
In late spring of 2021, China banned all bitcoin mining as part of an ongoing crackdown on crypto in the country. In response, many Chinese miners packed their bags, and headed to the Lone Star state of Texas. Texas offered a relaxed approach to regulation, a unique power grid, and attractive energy prices - all things that seemed ideal for miners looking for a new home. Until 2022. The situation in Texas is complicated, to say the least. That unique energy grid is prone to power outages. Extreme temperatures mean keeping expensive mining equipment cool is a challenge. And crypto miners are facing financial difficulties brought on by declining Bitcoin prices. Bloomberg reporter David Pan and Ethan Vera, COO & Co-Founder of Luxor Technology, both attended a recent Bitcoin mining conference in Miami. They join this episode to share some takeaways from the conference and how miners hope to survive this complicated crypto winter. See omnystudio.com/listener for privacy information.
Fri, August 12, 2022
The crypto universe can be complex, and it can be unpredictable. But the job of crypto editors and reporters is to track every development, and translate the most interesting and important of them into stories. Bloomberg Crypto Senior editors Dave Liedtka and Anna Irrera join for another edition of “Friday in the Editor’s Room”. They look at the highs and lows of this week in crypto, discuss the biggest stories they’re covering and what’s driving markets right now. See omnystudio.com/listener for privacy information.
Thu, August 11, 2022
Nonfungible tokens, or NFTs, leapt into pop culture prominence in 2021, but they’ve been around since at least 2014. Despite current market conditions, new tokens and collections are still being launched daily, including by luxury brands like Gucci and Prada. Tiffany’s, the iconic retailer, even announced a jewelry partnership with CryptoPunks, selling pendants based on those NFTs for around $50,000 each. During July’s Bloomberg Live Crypto Summit in New York, Stacy-Marie spoke with industry leaders about why they’re confident that NFTs will continue to be perceived as valuable and useful. In this episode, her conversation with Avery Akkineni, President of Vayner3, Helen Hai, Executive VP & Head of Charity at Binance and digital artist pplpleasr, aka Emily Yang. See omnystudio.com/listener for privacy information.
Wed, August 10, 2022
At the height of NFT mania, everyone from athletes like Tom Brady to celebrities like Justin Beiber seemed to be buying (or talking about) collections like Bored Ape Yacht Club. Non-fungible tokens aren’t just pictures of monkeys though - they exist on the blockchain, and buying or selling them typically requires paying in some kind of cryptocurrency, often Ether. While the link between NFT prices and the prices of tokens like Ether or Solana is not always straightforward, it’s true that nonfungible tokens haven’t been entirely spared from the chill of the crypto winter. For more on NFTs, and how and whether they’re holding up these days, Bloomberg reporter Prarthana Prakash joins this episode. See omnystudio.com/listener for privacy information.
Tue, August 09, 2022
Venture capitalists and certain people in the music industry are enthusiastic about the potential for artists to benefit from technology like the blockchain and NFTs. But there isn’t universal agreement, especially among musicians themselves, that any of this is necessarily a good idea. What are the big trends, and the big areas of disagreement? Bloomberg reporter Lucas Shaw joins this episode from Los Angeles to continue our coverage of crypto and the music industry. See omnystudio.com/listener for privacy information.
Mon, August 08, 2022
The gaming industry is bigger in revenue terms worldwide than the film and television industries combined. But it also continues to deal with hard and necessary conversations over who benefits from those profits, over work and labor conditions, and (as always) about intellectual property. Adding blockchain and NFT's might just complicate things a bit more. Bloomberg reporter Cecilia D'Anastasio joins this episode to discuss why and how crypto is showing up in video games. See omnystudio.com/listener for privacy information.
Fri, August 05, 2022
With every additional bankruptcy filing or accusation of insider trading in crypto, regulators seem to turn up the heat ever so slightly when it comes to their focus on the digital asset industry. But who is planning on doing the regulating? What would that even look like? And what does it mean that regulators themselves don’t seem to entirely agree? Joining this episode to bring us up to speed on what’s happening with US crypto regulation are Bloomberg reporters Allyson Versprille and Alex Nguyễn. See omnystudio.com/listener for privacy information.
Thu, August 04, 2022
If you’re an avid online shopper, you’ve probably realized that digital "buy now, pay later" options from companies like Klarna and Afterpay have skyrocketed over the last several years. Now, BNPL has come for crypto through a decentralized finance lender called Teller. Is this even…a good idea? Bloomberg reporter Misyrlena Egkolfopoulou joins this episode on how “buy now, pay later” fits into the crypto economy. See omnystudio.com/listener for privacy information.
Wed, August 03, 2022
It’s safe to say that Coinbase has had a rough couple of months. The threat of federal regulation of some of its tokens has been looming for more than a year, but really started heating up over the last few months. And in late July things got even worse. A former Coinbase product manager, his brother, and a friend were arrested by federal prosecutors on an insider trading allegation, and the Securities and Exchange Commission alleged Coinbase has been running an illegal securities exchange. To help us understand what’s at stake for Coinbase, and for all digital currency users, Bloomberg Businessweek Columnist & tech reporter Max Chafkin joins this episode. See omnystudio.com/listener for privacy information.
Tue, August 02, 2022
One of the most interesting conversations in crypto right now is all about definitions, and especially the definition of a so-called security. Who better to tackle this than Bloomberg Opinion columnist Matt Levine, a former practicing lawyer and investment banker who has written extensively about securities, securities law, insider trading, all things that are very much topical in crypto right now. You'll also hear highlights from Matt's interview with Sam Bankman-Fried at the recent Bloomberg crypto summit in New York. See omnystudio.com/listener for privacy information.
Mon, August 01, 2022
Picture this: you’re the FBI, trying to track down the digital keys that will give you access to illicit or stolen crypto. In 2021 alone, cops in the U.S. and U.K, seized billions of dollars in Crypto-assets from various different criminal busts. With so much money on the line, enforcement agencies around the world have had to learn quickly how to spot these digital assets and seize them from accused criminals. In this episode, Bloomberg reporters Ellen MiIligan and David Voreacos join to discuss how the seizures of digital assets are transforming policing policies and protocols around the world. See omnystudio.com/listener for privacy information.
Fri, July 29, 2022
Those who are new to the world of crypto might find themselves intimidated by (or attracted to!) the volatility, complexity, and frantic pace of an asset class that quite literally never sleeps. The job of Bloomberg editors is to assess all these perspectives and determine how (and whether) they become stories. This episode of “Friday in the Editor’s Room” features a conversation with Crypto Senior Editors Anna Irrera , based in London, and Philip Lagerkranser , based in Zurich. See omnystudio.com/listener for privacy information.
Thu, July 28, 2022
Earlier this year, pop music duo The Chainsmokers released 5,000 nonfungible tokens for free. These NFTs gave fans a 1% cut of the streaming royalties from their latest album, as well as priority access to concert tickets and free merchandise. The Chainsmokers aren’t the first musicians to experiment with crypto, NFTs or blockchain, and they’re unlikely to be the last. Royal, a startup that's looking to give fans more access and more investment opportunities related to the bands they love, partnered with The Chainsmokers to give their fans a stake in their success. Royal CEO Justin Blau joins this episode, along with Bloomberg reporter Hannah Miller. See omnystudio.com/listener for privacy information.
Wed, July 27, 2022
There’s a fascinating tension in crypto: there's the prevailing belief in the necessity, indeed the superiority, of decentralization. Then, there’s reality: when things hit the fan, folks respond by seeking a bailout, and hold fraudsters accountable. In an industry prone to spectacular scams and expensive hacks, this tension is ever-present. Bloomberg Reporter Emily Nicolle joins this episode for more on this. See omnystudio.com/listener for privacy information.
Tue, July 26, 2022
There’s an old joke in finance: when companies fight, lawyers win. And right now in crypto, lots of companies are fighting - some for their corporate lives. Kirkland + Ellis, one of the biggest law firms in the world by revenue, has emerged as a major player in crypto. Earlier this month, the firm signed on to work on the bankruptcy filings for both Celsius Network and Voyager Digital. There's relatively little case law that addresses how crypto assets - and their holders - should be treated in bankruptcy. That means that any legal precedents set could shape the future of crypto lending and determine how distressed crypto companies pay back creditors. Joining this episode is Bloomberg reporter Jeremy Hill on how Kirkland & Ellis are tackling crypto bankruptcies. See omnystudio.com/listener for privacy information.
Mon, July 25, 2022
Mary-Catherine Lader has a story to tell. She was a rising star at Blackrock when she left Wall Street and TradFi for crypto and DeFi. She's now chief operating officer at Uniswap Labs, creator of the world’s biggest decentralized exchange protocol. She joined Bloomberg Reporter Olga Kharif to talk about her belief in blockchain, what comes next after the Terra collapse, and how she sees decentralized finance shaping the future. See omnystudio.com/listener for privacy information.
Fri, July 22, 2022
While there’s a perception that ideas like the blockchain are novel and groundbreaking, the reality is there’s lots of precedents for concepts like DAOs, or Initial Coin Offerings. This is particularly clear right now, as crypto experiences its own version of a “Bear Stearns moment”. Which all begs the question: Is DeFi just reinventing TradFi with more complexity and a sprinkling of blockchain? Or is there genuine novelty here? For more on these questions, Bloomberg Opinion Columnist Matt Levine and Bloomberg Reporter Muyao Shen join this episode. See omnystudio.com/listener for privacy information.
Thu, July 21, 2022
The crypto winter of 2022 has claimed several casualties so far, but as of late, there’s one name that’s on everyone’s lips: Celsius Network, the crypto lender that’s now trying to save its skin through Chapter 11 bankruptcy. As prices spiraled and customers rushed to withdraw their crypto from the platform, Celsius buckled under the weight. Now we know it’s amassed around $5.5 billion in liabilities, but only has about $4.3 billion in assets to back it up. For the debrief on what’s happening at Celsius, you’ll hear from Bloomberg Crypto senior editor Anna Irrera and reporters Olga Kharif and Emily Nicolle. See omnystudio.com/listener for privacy information.
Wed, July 20, 2022
What do Rapper Jay-Z and former CEO of Twitter, Jack Dorsey have in common? No it's not music... It’s Bitcoin. If you spend enough time around people who believe that crypto can transform society, you’ll eventually hear them make an argument about financial inclusion. Jay-Z has teamed up with Dorsey on what they’re calling Bitcoin Academy, with the goal of educating and empowering people through financial literacy — with a focus on Bitcoin. Bloomberg reporters Paulina Cachero and Akayla Gardner join to discuss Bitcoin Academy and whether Bitcoin is truly the key to a more financially inclusive society. See omnystudio.com/listener for privacy information.
Tue, July 19, 2022
As investors around the world grapple with the reality of sustained declines in prices across crypto markets, stakeholders are asking the question: what’s next? And in some cases, who’s next? In this episode of Bloomberg Crypto, reporter Emily Nicolle speaks with Alston Zecha, partner at global venture fund Eight Roads, for his perspectives on how the crypto winter is affecting sentiment and markets. See omnystudio.com/listener for privacy information.
Mon, July 18, 2022
You could argue that crypto is no stranger to a recession: in fact, it was the financial crisis of 2008 that birthed the idea of Bitcoin In the first place. But this recession is a little different: in the decade or so since that formative Bitcoin whitepaper, crypto has experienced spectacular growth. Rising and record prices led to investor FOMO, or fear of missing out. But now, in the midst of this crypto winter, investors who entered the digital asset class during its “bull market” are reevaluating their entire relationships with the digital coin. For more on this shift from FOMO to "Oh No", Bloomberg reporter Claire Ballentine joins this episode. See omnystudio.com/listener for privacy information.
Fri, July 15, 2022
Every day, around the world, the reporters and editors who work on crypto at Bloomberg wake up (often at the crack of dawn) and start figuring out how we’ll tackle the biggest and most important news events of the day. Crypto is a 24/7 asset class: it doesn’t stop trading, and it doesn’t take holidays. It’s our job to assess both the big trends and the small moments, and to figure out how to translate those into stories - and podcast episodes. In this episode, you’ll get to meet three of Bloomberg’s crypto editors, folks who are making decisions all day long about how we approach this asset class: Beth Williams and Dave Liedtka who are both based in New York, and Philip Lagerkranser, who’s based in Zurich. See omnystudio.com/listener for privacy information.
Thu, July 14, 2022
Since the founding document that led to the invention of Bitcoin first appeared in 2008, Bitcoin’s true believers have adopted a philosophy that resembles “one for all and all for one." Bitcoin is often mentioned as a means to improve financial inclusion, to allow people oppressed by their governments to maintain or reclaim a sense of freedom. In Bitcoin, everyone’s equal - or so the theory goes. But does the theory match the reality of the ecosystem? On today's episode, Data Scientist Alyssa Blackburn and Dr Erez Lieberman Aiden, an Associate Professor of Molecular and Human Genetics at Baylor College of Medicine, join to discuss their research into who controlled Bitcoin from those early days. See omnystudio.com/listener for privacy information.
Wed, July 13, 2022
If you want an example of the intense optimism of certain crypto investors, here’s one: Some investors are still buying the token known as Luna Classic, which has flatlined towards zero in the aftermath of the collapse of the TerraUSD stablecoin. Why are people so willing to buy up zombie coins? In this episode, Bloomberg senior editor Mike Regan and Bloomberg reporter Misyrlena Egkolfopoulou stop in to discuss the motivations of these risk-takers. See omnystudio.com/listener for privacy information.
Tue, July 12, 2022
Depending on who you ask, crypto’s volatility is either a bug or a feature. Wild, unexpected or aggressive price swings make this an asset class that is ill suited to anyone who’s less experienced at managing risk. It’s clear that these swings can be challenging, but is there a world in which they’re perceived as a benefit? And if so, what’s the upside? In this episode, Bloomberg Opinion columnist, Lionel Laurent joins to discuss whether there’s any value to crypto’s volatility. See omnystudio.com/listener for privacy information.
Mon, July 11, 2022
Jump Crypto burst onto the scene less than a year ago, with the appointment of a former intern named Kanav Kariya as its founding president. Within just a few months, Jump Crypto has found itself spending hundreds of millions bailing market participants out because of a major DeFi hack, and having to navigate the collapse of the TerraUSD stablecoin. Undeterred by critics, Kanav Kariya believes that the market’s current volatility is the perfect time to double down. In this episode you’ll hear from Bloomberg reporters Katherine Doherty and Yueqi Yang, who went to Chicago to visit Jump’s headquarters and hear about what’s next for the firm. See omnystudio.com/listener for privacy information.
Fri, July 08, 2022
It feels like every country in the world is figuring out how they want to regulate crypto - or if they’ll even allow it to exist at all. India is seen as one of the fastest-growing markets for crypto trading, something which its government isn’t too keen about. Bloomberg reporter Sidhartha Shukla joins me today to discuss India’s complicated history of crypto regulation, why they’re turning to taxes to curb speculation on the asset classes, and the potential lessons for other countries. See omnystudio.com/listener for privacy information.
Thu, July 07, 2022
Sorare is one of several companies attempting to take the idea of collectibles like baseball cards and bring them into the digital context. In May, Sorare announced a partnership with Major League Baseball in the US. And Serena Williams is a member of their advisory board. Why is Sorare betting big on sports? Do collectibles really need to be on a blockchain? Will baseball players benefit from that Major League deal? On this episode, we’ll talk to Bloomberg reporter Hannah Miller and to Sorare’s CEO Nicola Julia. See omnystudio.com/listener for privacy information.
Wed, July 06, 2022
Experimenting with who you are online, especially if those identities are really different from who you present to the analogue world, is not a new concept. Neal Stephenson famously coined the phrase “metaverse” back in 1992. So it’s no surprise that folks are using newish technologies like crypto and the blockchain to play with their self-expression. Some are even using blockchain-enabled structures to monetize their experiments with identity, including their gender presentation. In this episode, you'll hear from Bloomberg reporter Emily Nicolle and Florence Smith Nicholls, a doctoral student who researches games, ethics and artificial intelligence. See omnystudio.com/listener for privacy information.
Tue, July 05, 2022
In June, Senators Kirsten Gillibrand and Cynthia Lummis introduced a sweeping Senate bill that would regulate crypto assets. Influential crypto insiders have hailed the proposal as a great starting point - a reception which suggests it might be perceived as relatively friendly to the digital asset community. Hilary Allen, a law professor at American University, is among those who think the proposed legislation doesn’t go far enough, especially when it comes to consumer protection. She joins this episode for a critical look at the proposed legislation. See omnystudio.com/listener for privacy information.
Fri, July 01, 2022
One of the most closely-watched fights in crypto might sound a little obscure, but it’s really important. It pits a company called Grayscale Investments against the US Securities and Exchange Commission, a crucial regulator. And it involves so-called exchange traded funds, an extremely popular type of investment vehicle, and Bitcoin, the largest and most liquid cryptocurrency. Grayscale had been lobbying regulators to allow it to convert one of its existing crypto products into an exchange traded fund, or ETF. This week, the SEC rejected their petition. Grayscale has been very clear that they’re preparing for a fight and intend to take the fight to court, and they’ve geared up accordingly. They hired Donald Verrilli, a top White House lawyer during the Obama administration. Bloomberg reporter Katie Greifeld joins me to examine why this fight is so important to crypto. See omnystudio.com/listener for privacy information.
Thu, June 30, 2022
It might feel like there’s always some kind of election happening in the US - and that’s because there is. State and local elections can happen every year, while Congressional mIdterms occur every other year, allowing US voters to decide who will represent them. These elections really matter, and crypto executives are spending significant amounts of money to influence them. In 2022, for the very first time, political spending by major figures in the crypto industry has eclipsed the dollars being spent by traditional donors in big tech and pharma. Today, Bloomberg reporter Allyson Versprille joins this episode to share her reporting on why crypto is emerging as a significant financial force in US politics. See omnystudio.com/listener for privacy information.
Wed, June 29, 2022
Rishi Sunak, one of the most senior people in the UK government, this year announced he wanted to establish the country as a global hub for crypto . He’s got some catching up to do: the competition between countries trying to attract crypto talent is only getting more intense. But this environment, in which politicians seem to be willing to make major concessions to the crypto industry, gives rise to an important question: who’s standing up for consumer protections? Bloomberg reporter Will Shaw joins this episode to share more about the regulatory landscape for consumer protection in the UK. See omnystudio.com/listener for privacy information.
Tue, June 28, 2022
One of the features that early crypto investors would talk about is something called correlation - specifically, the lack of it. Correlation refers to the relationship between different financial assets - if the gold price goes up, and the price of oil also goes up, you could say those prices are positively correlated. For investors looking to diversify their portfolios, correlation isn’t always a good thing. What they want is something that doesn’t move in the same direction as everything else. And for a while, it looked like cryptoassets might fit the bill. Over the past year, as inflation rates have begun to rise- the price of crypto has fallen in line with stocks. What does this mean for crypto’s supposed independence from other markets? Bloomberg reporter Vildana Hajric joins this episode to explore these questions. See omnystudio.com/listener for privacy information.
Mon, June 27, 2022
California’s Silicon Valley is both a place and a philosophy. It’s hailed as *the* place for US tech startups to get funding and attract talent. VCs, or venture capitalists, are integral to this mythology. These are the people who provide the private capital - billions of dollars worth - so tech startups can chase the next big thing. Despite the volatile crypto market, some of those VCs are still betting big on the potential of the blockchain. Bloomberg reporter Hannah Miller joins this episode for a look at how crypto is influencing VC—and vice versa. See omnystudio.com/listener for privacy information.
Fri, June 24, 2022
Prior to the Russian invasion of Ukraine in February, the Ukrainian government and the country’s crypto community would not have been described as allies. There was skepticism, distrust and even a few police raids on unlicensed crypto exchanges. That shifted with the war: Digital asset leaders in Ukraine are now hailed, by some, as heroes because of their work with the Ukrainian government to finance the war effort. Ukraine's deputy minister for digital transformation said crypto donations have enabled the army to buy military equipment, and medicine. In this episode, Bloomberg reporter Alastair Marsh discusses his reporting on how Ukraine has been using crypto during the war to support its armies and its population. See omnystudio.com/listener for privacy information.
Thu, June 23, 2022
The Washington Nationals baseball team didn’t have a great start to their season, and that’s not just because of their losing record. They also managed to debut a sponsorship deal with the organization behind the not-so-stable stablecoin, TerraUSD. The name of that organization, Terraform Labs, is now splashed all over billboards, uniforms, seats – everything. It might have seemed like a good play when they signed the contract, but by the time TerraUSD crashed and burned in early May, it started to look more like a strikeout. In this episode, Bloomberg senior editor Mike Regan, joins the conversation to sort through how crypto companies are changing the sports landscape. See omnystudio.com/listener for privacy information.
Wed, June 22, 2022
El Salvador’s millennial president Nayib Bukele is no tourist when it comes to Bitcoin. Last year, under his leadership, El Salvador became the first country in the world to approve Bitcoin as a form of legal tender. Since then, President Bukele has bought more than 2,000 Bitcoins using public funds. He doesn’t appear to be stressed by the market volatility, or by the drumbeat of international organizations like the IMF that have criticized his crypto decisions. He’s even created a so-called “Bitcoin beach” in the coastal town of El Zonte as a pilot project. In this episode, Bloomberg reporter Mike McDonald joins to talk more about the sustainability of El Salvador’s Bitcoin strategy. See omnystudio.com/listener for privacy information.
Tue, June 21, 2022
On this episode of Bloomberg Crypto, Bloomberg reporters Claire Ballentine and Charlie Wells join stacy-marie to talk about crypto addiction. There are rehab centers for people seeking treatment for addictions to drugs and alcohol, to gambling, and more recently, to online experiences like gaming. Now, these centers are seeing an uptake in people looking for help controlling their crypto trading. See omnystudio.com/listener for privacy information.
Fri, June 17, 2022
There is a real drive on Capitol Hill to figure out how to define and regulate cryptocurrency and protect consumers. One such effort comes from Democratic Senator Kirsten Gillibrand (NY) and Republican Senator Cynthia Lummis (WY). They are proposing legislation to clarify the roles of how two different government agencies would divvy up the crypto landscape. Their bill also contains a proposal for regulating crypto mining. But can it pass? And how would it work? Bloomberg reporter Allyson Versprille joins to talk it through. See omnystudio.com/listener for privacy information.
Thu, June 16, 2022
It’s been a wild week for crypto markets. Bloomberg reporters Muyao Shen and Matt Turner join the podcast to discuss what’s happening in the world of digital tokens and crypto-related stocks - and why sentiment is so negative. See omnystudio.com/listener for privacy information.
Wed, June 15, 2022
What happens to your crypto after you die? Beyond the existential question of the permanence of the blockchain, the answers here aren’t straightforward. For estate planners, what to do with digital assets like Bitcoin and NFTs present a new challenge to inheritance law. There’s more and more money pouring into these assets, and people are starting to think about their digital legacies. But how do you pass on something that’s built on principles of anonymity and individuality, and that requires both passwords and tech savvy to access? In this episode, Bloomberg reporter Jill Shah explores these questions. See omnystudio.com/listener for privacy information.
Tue, June 14, 2022
Have you ever heard the saying, “Everything’s Bigger in Texas”? That same ethos applies to mining Bitcoin in the Lonestar state. The state of Texas is flush with bitcoin prospectors. The City of Fort Worth even started a small mining operation out of City Hall. In this episode, Bloomberg reporter Mike Smith shares his reporting about what makes this state so attractive to crypto enthusiasts. And Lee Bratcher, head of the Texas Blockchain Council explains why he sees Texas as the perfect environment for Bitcoin believers. See omnystudio.com/listener for privacy information.
Mon, June 13, 2022
Have you heard the one about the crypto investor who got hacked and lost all their Bitcoin? It’s true - cryptocurrency spam, hacks, and fraud are all on the rise . That means there’s an urgent need to think about the security risks to often-valuable digital investments. Bloomberg reporter Hannah Miller talks about the nature and scope of these hacks, and Ronghui Gu, chief executive officer of the blockchain security firm CertiK shares how to avoid them. See omnystudio.com/listener for privacy information.
Fri, June 10, 2022
In January 2020, the United Kingdom officially withdrew from the European Union. The fallout from Brexit, as we all came to know it, is still being measured across all industries. Some analysts predict it will take years to understand it’s full impact on the UK economy. Brexit even affected the crypto market , especially as far as regulations are concerned. Bloomberg reporter Emily Nicolle sees cautious optimism among investors about the UK’s approach to crypto regulation, and Blair Halliday, the UK head of cryptocurrency exchange Gemini agrees. See omnystudio.com/listener for privacy information.
Thu, June 09, 2022
In March of 2022, hackers stole about $600 million from a crypto network . It was one of the biggest exploits of this asset class to date, and left many investors shaken. Can a decentralized financial system work if investors get spooked when significant assets are lost? In this episode: a roundtable discussion with Bloomberg reporter Olga Kharif and Bloomberg Opinion columnist Parmy Olson about the scope and the effect these attacks are having on the decentralized financial marketplace. See omnystudio.com/listener for privacy information.
Wed, June 08, 2022
Did you know that both Madonna and Justin Bieber own expensive digital images of apes ? It’s true: Bored Apes and other nonfungible tokens are a must-have celebrity accessory these days. But should you put your trust in movie stars, pop singers and athletes when it comes to crypto? What are some of the legal questions at play with these celebrity endorsements ? Bloomberg reporter Misy Egkolfopoulou stops in for a look at what's behind the buzz with celebrities’ interest in crypto investments. See omnystudio.com/listener for privacy information.
Tue, June 07, 2022
Fidelity, one of the largest investment managers in the world, made headlines when it announced its intention to offer clients the ability to invest in crypto through their 401(k) retirement accounts. In such a volatile environment, is it a risky bet to add digital assets to a retirement plan? Bloomberg reporter Suzanne Woolley joins this episode to talk about the recent history of 401(k) investments in crypto, and why the US Labor Department is less than enthusiastic about the move. See omnystudio.com/listener for privacy information.
Mon, June 06, 2022
You might already consider crypto to be synonymous with the word volatility. But what about all the other words that get thrown around by enthusiasts? What’s staking all about? How are bridges created and used? And why are so many folks on Twitter sending messages that just say, “GM”? Never fear: Bloomberg reporters Hannah Miller and Vildana Hajric are here to help with a crypto glossary. Because it’s good to define our terms. See omnystudio.com/listener for privacy information.
Fri, June 03, 2022
Cryptocurrencies are increasingly popular as investments - everyone from retail traders on Reddit to big institutional shops like Fidelity seems to have a crypto strategy. But what happens when the people investing in this asset class are also the ones in charge of regulating it ? Senators like Pat Toomey and Cynthia Lummis own crypto investments while also weighing in on who and how to potentially regulate the industry. Bloomberg reporter Akayla Gardner joins stacy-marie to wade through the thorny question of regulating the regulators. See omnystudio.com/listener for privacy information.
Thu, June 02, 2022
Welcome to Bloomberg Crypto: a new daily podcast from Bloomberg and iHeart Radio. In today’s inaugural episode, host stacy-marie ishmael introduces herself, shares what you can expect from this new daily offering, and outlines what the show aims to bring you each day. Stacy-marie, the managing editor for crypto at Bloomberg News, checks in with Bloomberg reporter Olga Kharif for an update on the full blown meltdown of the Terra stablecoin . Olga will answer the question: can stablecoins actually remain stable? What made TerraUSD become so unsteady that it imploded? Olga breaks down what happened, why, and what it means for stablecoins and De Fi moving forward. Follow us on Twitter @crypto, and subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.
Trailer · Mon, May 09, 2022
The crypto universe is expanding fast, and with that expansion comes both excitement and uncertainty. Stacy-Marie Ishmael is the managing editor for Crypto at Bloomberg News and your host for Bloomberg Crypto: A new daily podcast from Bloomberg and iHeart Radio. Each weekday, she dives into everything from Bitcoin to Bored Apes, NFT’s to DeFi, Staking to Web3. Bloomberg Crypto goes deeper than just the daily market buzz to explore how this asset class is shifting the way we live, our politics, and our culture. Listen to Bloomberg Crypto starting June 2nd. See omnystudio.com/listener for privacy information.
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