Snoop Is Medici? The Mainstream Infiltration Continues

The Breakdown

Nathaniel Whittemore

Investing, Business

4.8 • 786 Ratings

🗓️ 23 September 2021

⏱️ 21 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today on the Brief: BlockFi gets another extension Chainalysis’s secret data honeypot Robinhood crypto finally gets transfers In our main discussion, NLW talks how crypto has mainstreamed over the last year, including: Bitcoin for hedge funders Bitcoin for El Salvador NFTs for NBA fans NFTs for crypto OGs and celebrities He specifically looks at what rapper Snoop Dogg’s anon account disclosure in the space means for the future. Enjoying this content? SUBSCRIBE to the Podcast Apple: https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M= Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW “The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Tidal Wave” by BRASKO. Image credit: Gary Miller/Getty Images Entertainment, modified by CoinDesk.

Transcript

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0:00.0	Welcome back to The Breakdown with me, NLW.
0:09.1	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:16.3	The breakdown is sponsored by Nidig and produced and distributed by CoinDesk.
0:22.6	What's going on, guys? It is Wednesday, September 22nd, and today we are talking about
0:28.0	the mainstream infiltration of crypto continuing. First up, however, let's do the brief.
0:35.5	First on the brief today, New Jersey grants BlockFi another extension.
0:40.0	By way of recap and apologies, if you've heard me, give this recap a bunch of times over the last few weeks.
0:45.6	BlockFi started to be in the sites of securities regulators over the last month or two.
0:51.3	New Jersey, Texas, Kentucky, Vermont, Alabama, all have had issues with BlockFi's
0:56.2	interest accounts, their BIA product, which is their flagship product, saying that it is an
1:01.6	unregistered security in their state. New Jersey was the first to make this designation and
1:06.6	accusation and asked that BlockFi stop allowing new New Jersey residents to sign up for interest
1:12.6	accounts. Initially, the order was supposed to go into effect on July 22nd, but then it was delayed
1:18.0	until September 2nd, and now it is postponed until December 1st. As I said, this is specifically
1:24.3	the enforcement on the ban of the creation of new BlockFi interest accounts,
1:28.1	and this doesn't affect current account holders in New Jersey. Here's what the company's tweet
1:33.1	said about this. Following ongoing discussions with the New Jersey Bureau of Securities to provide
1:37.8	more details about the BlockFi interest account, the Bureau has again postponed the effective
1:42.0	date of its previous order this time to December 1st, 2021.
1:45.6	We are in an active dialogue with regulators regarding the BIA, and we firmly believe that it is
1:50.2	lawful and appropriate for crypto market participants. We remain steadfast in our commitment to fight for
1:55.6	consumers' rights to earn interest on their crypto assets. We welcome discussions with regulators
	...

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