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 c...
Aug 02, 2022•19 min
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 discus...
Aug 01, 2022•21 min
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.c...
Jul 29, 2022•18 min
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, partn...
Jul 28, 2022•19 min
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....
Jul 27, 2022•18 min
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 ...
Jul 26, 2022•18 min
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....
Jul 25, 2022•18 min
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 Levin...
Jul 22, 2022•18 min
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...
Jul 21, 2022•16 min
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 ...
Jul 20, 2022•13 min
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....
Jul 19, 2022•15 min
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 reeval...
Jul 18, 2022•12 min
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 Bloombe...
Jul 15, 2022•20 min
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 Bl...
Jul 14, 2022•20 min
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 informa...
Jul 13, 2022•18 min
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.c...
Jul 12, 2022•15 min
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 fr...
Jul 11, 2022•18 min
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 omny...
Jul 08, 2022•18 min
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...
Jul 07, 2022•19 min
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 episod...
Jul 06, 2022•19 min
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...
Jul 05, 2022•19 min
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 trade...
Jul 01, 2022•16 min
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 bei...
Jun 30, 2022•18 min
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 ...
Jun 29, 2022•14 min
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....
Jun 28, 2022•16 min
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 ...
Jun 27, 2022•15 min
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 ...
Jun 24, 2022•15 min
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...
Jun 23, 2022•18 min
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 “Bi...
Jun 22, 2022•19 min
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....
Jun 21, 2022•20 min
