CoinDesk Podcast Network

Banks down, bitcoin up and, boom, a narrative is born.On this edition of the “Weekly Recap,” NLW combines two previous YouTube shows focused on Balaji’s $1 million bitcoin bet and the emergence of the mainstream narrative of bitcoin as a safe haven from banks.-“The Breakdown” is written, produced and narrated by Nathaniel Whittemore aka NLW, with editing by Michele Musso and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsor today is “Foothill Blvd” by Sam Barsh. Image credit: Nuthawut Somsuk/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.Join the most important conversation in crypto and Web3 at Consensus 2023, happening April 26-28 in Austin, Texas. Come and immerse yourself in all that Web3, crypto, blockchain and the metaverse have to offer. Use code BREAKDOWN to get 15% off your pass. Visit consensus.coindesk.com.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The most valuable crypto stories for Friday, March 24, 2023. "The Hash" tackles today's hot topics:  Are Binance 'angels' helping users in China bypass 'Know-Your-Customer' (KYC) controls? Cathie Wood's Ark Invest buys on the dip, restocking Coinbase shares two days after selling. Crypto hackers are increasingly targeting NFT projects. Plus, Greenpeace's "Skull of Satoshi" art project gets some unexpected fans.See also:Binance Suffers Two-Hour Spot Market Outage Due to Software BugBinance Curb on Zero-Fee Trading May Cost Market Share, Boost TrueUSD Stablecoin: Kaiko Research HeadARK Uses 'Wells Dip' to Stock Up Again on Coinbase Shares, Two Days After SellingARK Invest Sells $13.5M Coinbase Shares After Steady Buying Streak$119M in Stolen Crypto So Far in 2023, NFT Rug Pulls on the Rise: Crystal Blockchain-This episode has been edited by Jonas Huck. The senior producer is Michele Musso and the executive producer is Jared Schwartz. Our theme song is “Neon Beach.”-Join the most important conversation in crypto and Web3 at Consensus 2023, happening April 26-28 in Austin, Texas. Come and immerse yourself in all that Web3, crypto, blockchain and the metaverse have to offer. Use code THEHASH to get 15% off your pass. Visit coindesk.com/consensus.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Do the recent banking crises of three popular high-profile banks validate what crypto stands for? Is the U.S. falling behind in leading global policy when it comes to the current systems we use and invest in?In this episode of “Money Reimagined,” Michael Casey and Sheila Warren will explore transparency, safety and predictability within the banking industry and cryptocurrency community with Alex Thorn, head of firmwide research at Galaxy Digital, and Ram Ahluwalia, CEO and co-founder of Lumida Wealth Management.See Also:https://www.coindesk.com/consensus-magazine/2023/03/17/this-crisis-will-define-the-future-of-money/ -Michele Musso produced and edited this episode with announcements by Adam B. Levine and our executive producer, Jared Schwartz. Our theme song is “Shepard.”-Join the most important conversation in crypto and Web3 at Consensus 2023, happening April 26-28 in Austin, Texas. Come and immerse yourself in all that Web3, crypto, blockchain and the metaverse have to offer. Use code MONEYREIMAGINED to get 15% off your pass. Visit coindesk.com/consensus.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The U.S. central bank hiked interest rates by 25 basis points, even as credit tightens across the economy. NLW catches up on the macro in the wake of the recent Federal Open Market Committee meeting and interest rate decision. The stakes were higher going into this meeting thanks to the banking crisis. As the Federal Reserve stays determined to keep hiking, is commercial real estate poised to be the next challenge? -“The Breakdown” is written, produced and narrated by Nathaniel Whittemore aka NLW, with editing by Michele Musso and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsor today is “Foothill Blvd” by Sam Barsh. Image credit: Malte Mueller/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.Join the most important conversation in crypto and Web3 at Consensus 2023, happening April 26-28 in Austin, Texas. Come and immerse yourself in all that Web3, crypto, blockchain and the metaverse have to offer. Use code BREAKDOWN to get 15% off your pass. Visit consensus.coindesk.com.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The most valuable crypto stories for Thursday, March 23, 2023. "The Hash" tackles today's hot topics:  Montenegro's interior minister says crypto fugitive Do Kwon has been arrested.  Coinbase is warned by the SEC of potential securities violations.  Meantime, the SEC charged Tron founder Justin Sun with fraud and accused eight celebrities of illegally promoting his crypto assets. Plus, Jack Dorsey's Block shares sink after a short-sellers report.See also:Do Kwon Arrested in Montenegro: Interior MinisterTerra's LUNA Tokens Fall Steeply on Do Kwon's Alleged ArrestSEC Sues Jake Paul for 'Illegally Touting' Justin Sun-Linked CryptosTron Founder Justin Sun Sued by U.S. SEC on Securities, Market Manipulation ChargesCrypto Exchange Coinbase Shares Tumble 16% After SEC Enforcement Notice-This episode has been edited by Adrian Blust.. The senior producer is Michele Musso and the executive producer is Jared Schwartz. Our theme song is “Neon Beach.”-Join the most important conversation in crypto and Web3 at Consensus 2023, happening April 26-28 in Austin, Texas. Come and immerse yourself in all that Web3, crypto, blockchain and the metaverse have to offer. Use code THEHASH to get 15% off your pass. Visit coindesk.com/consensus.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

An SEC Wells Notice and a legal challenge were announced by Coinbase.Gary Gensler just doesn't stop. This week we’ve seen actions against Justin Sun, SushiSwap and now Coinbase. NLW covers the latest Wells Notice from the SEC and why Coinbase might prove a tougher opponent than what Gensler is used to. -“The Breakdown” is written, produced and narrated by Nathaniel Whittemore aka NLW, with editing by Michele Musso and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsor today is “Foothill Blvd” by Sam Barsh. Image credit: Kevin Dietsch/Staff/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.Join the most important conversation in crypto and Web3 at Consensus 2023, happening April 26-28 in Austin, Texas. Come and immerse yourself in all that Web3, crypto, blockchain and the metaverse have to offer. Use code BREAKDOWN to get 15% off your pass. Visit consensus.coindesk.com.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

A discussion on Credit Suisse, the Bank Term Funding Program and more.NLW is joined by Ram Ahluwalia, CEO of Lumida Wealth Management. In this conversation, they discuss:The fall of Credit SuisseThe Federal Reserve’s new Bank Term Funding Program and whether it’s inflationary Why this crisis is currently deflationary And more. -“The Breakdown” is written, produced and narrated by Nathaniel Whittemore aka NLW, with editing by Michele Musso and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsor today is “Foothill Blvd” by Sam Barsh. Image credit: Douglas Rissing/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.Join the most important conversation in crypto and Web3 at Consensus 2023, happening April 26-28 in Austin, Texas. Come and immerse yourself in all that Web3, crypto, blockchain and the metaverse have to offer. Use code BREAKDOWN to get 15% off your pass. Visit consensus.coindesk.com.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

On this week’s show, Kamz is joined by HUG’s CEO and Founder Randi Zuckerberg and Co-Founder and Chief Growth Officer, Debbie SoonDebbie SoonDebbie is a Chinese-Singaporean immigrant who is passionate about increasing representation in Web3. Having spent her entire career both investing in and building multimillion-dollar consumer businesses, she's particularly excited about the intersection of Web3 and consumer. Now, she's the co-founder of HUG, where she's helping build a space for people to collaborate, connect, and interact with each other.Prior to Web3, Debbie graduated from the University of Cambridge with a degree in Economics and from Columbia University with a Masters in Financial Engineering. She then went on to build three businesses from scratch for one of the most successful unicorns in Southeast Asia.Outside of helping break down barriers for equitable representation, she enjoys lifting weights, car karaoke, and pampering her 10-year-old dog, Guinness.Randi Zuckerberg Randi has always loved technology and the arts. As a Harvard graduate and early employee at Facebook, she helped shape Web 2.0 technology for billions of people worldwide. Now in Web3, she's bringing her two loves together. Randi is one of the most prominent voices for women in the NFT space and is passionate about uplifting creators — that's why she founded HUG! She now gets to work with 50+ of the top emerging Web3 creators through the HUG Studios programs.When she's not trading jpegs, she can be found at the theater or doing her best to unplug at home with her husband and three children who are now almost as obsessed with crypto as she is.On this incredible panel, we discuss:🤗 HUG and how it came to be🌎 how to build a representative and truly inclusive web3 community and platform🤝 the importance of building together through strategic partnerships🫶🏽 How web3 projects can support and uplift underrepresented people and communities🧘🏽‍♀️We end with a two-minute mindfulness exercise! :) Follow me on Twitter @KamalaAlcantara to stay up to date on the show and join our weekly Twitter Space!Subscribe to my new LinkedIn newsletter Rest & Digest: A rest stop at the busy intersection of mindfulness, tech, women empowerment, UX and diversity, equity and inclusion.This episode was produced and edited by Michele Musso with executive producer Jared Schwartz. Our theme song is ‘Twennysomething’ by Daniele Musto. Other music used is ‘Mind and Soul’ by Stefano Vita and ‘Electrolove’ by Lunareh. Join CoinDesk’s Consensus 2023 - the most important conversation in crypto and Web3 - happening April 26 through 28 in Austin, Texas. Consensus is the industry’s only event bringing together all sides of crypto, Web3 and the metaverse. Immerse yourself in all that blockchain technology has to offer creators, builders, founders, brand leaders, entrepreneurs and more!Use code WEB3WOMEN to get 15% off your pass. Visit consensus.coindesk.com and get your pass today! See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The most valuable crypto stories for Tuesday, March 21, 2023. "The Hash" tackles today's hot topics: Treasury Secretary Janet Yellen says the U.S. will intervene to protect smaller banks if necessary. Florida Gov. Ron DeSantis is proposing a law to ban CBDCs from his state. India's central bank wants privacy protections in place for retail CBDC users. Plus, the IRS wants to tax non-fungible tokens (NFT) just like other collectibles.See also:IRS Seeks to Tax NFTs Like Other CollectiblesFlorida Gov. Ron DeSantis Proposes Law to Ban CBDCs-The senior producer is Michele Musso and the executive producer is Jared Schwartz. Our theme song is “Neon Beach.”-Join the most important conversation in crypto and Web3 at Consensus 2023, happening April 26-28 in Austin, Texas. Come and immerse yourself in all that Web3, crypto, blockchain and the metaverse have to offer. Use code THEHASH to get 15% off your pass. Visit coindesk.com/consensusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

For many in the crypto space, this is evidence of the U.S. government’s inevitable mission creep in the banking system.Just a week after backstopping Silicon Valley Bank and Signature, the FDIC is reportedly exploring how it could feasibly cover all U.S. bank deposits, at least temporarily. The implications are explored by NLW.-“The Breakdown” is written, produced and narrated by Nathaniel Whittemore aka NLW, with editing by Michele Musso and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsor today is “Foothill Blvd” by Sam Barsh. Image credit: desinger491/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.Join the most important conversation in crypto and Web3 at Consensus 2023, happening April 26-28 in Austin, Texas. Come and immerse yourself in all that Web3, crypto, blockchain and the metaverse have to offer. Use code BREAKDOWN to get 15% off your pass. Visit consensus.coindesk.com.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

In the season finale, we look at the man behind the curtain – and tease out just how many crimes he committed."Crypto Crooks" is sponsored by Chainalysis.Do Kwon has evaded, deflected and run away. But his empire’s crimes are like a trail of breadcrumbs, always leading back to him. In our season finale, we take stock of Do Kwon’s twisted legacy: the myriad crimes and deceptions he enacted, the system he built to prop them all up and the lies he’s still spouting while running from both nominal responsibility and the law.But there’s more: next week, stay tuned for a bonus episode. We’re digging into the bombshell updates to the saga since February, when the SEC filed its investment fraud suit against Do Kwon and Terraform Labs.Clips:Pomp & Mike Novogratz Bitcoin Fireside | Bitcoin 2022 ConferenceDo Kwon of Terra: 'It Was Never Really About Money or Fame or Success' - Ep. 408Episode transcripts are available at coindesk.com/podcasts/crypto-crooks. -Chainalysis is the blockchain data platform. We provide data, software, services and research to government agencies, web3 companies, financial institutions and insurance and cybersecurity companies. Our data powers investigation, compliance and business intelligence software that has been used to solve some of the world’s most high-profile criminal cases. For more information, visit www.chainalysis.com.-“Crypto Crooks” is a CoinDesk Podcast Production. The executive producer is Jared Schwartz, with additional production by Eleanor Pahl, Nora Battelle, Jonas Huck, and Moon Beast. Fact-checking is by Amber Von Schassen, and sound design and music are by Altus Noumena. This show is written and voiced by David Z. Morris.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The most valuable crypto stories for Monday, March 20, 2023. "The Hash" tackles today's hot topics: What bitcoin futures are signaling.  Former Coinbase CTO Balaji Srinivasan wagers a bet that bitcoin will hit $1 million in 90 days.  Warren Buffett has reportedly been in touch with the Biden White House as the regional banking crisis unfolded.  Plus, Sen. Elizabeth Warren calls Fed Chairman Jerome Powell a failure.See also:Open Interest in Bitcoin Futures Hits Yearly High of $12B-This episode has been edited by Adrian Blust.. The senior producer is Michele Musso and the executive producer is Jared Schwartz. Our theme song is “Neon Beach.”-Join the most important conversation in crypto and Web3 at Consensus 2023, happening April 26-28 in Austin, Texas. Come and immerse yourself in all that Web3, crypto, blockchain and the metaverse have to offer. Use code THEHASH to get 15% off your pass. Visit coindesk.com/consensusSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Credit Suisse saga comes to an end with UBS acquiring its biggest competitor. Due to its global systemic importance, Credit Suisse appeared to be in serious trouble last week. In the past weekend, Swiss authorities, along with their counterparts in the US, EU, and UK, hammered out a deal that nobody is really happy with, aside from the fact that it may prevent banking contagion.-“The Breakdown” is written, produced and narrated by Nathaniel Whittemore aka NLW, with editing by Michele Musso and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsor today is “Foothill Blvd” by Sam Barsh. Image credit: Arnd Wiegmann/Stringer/ Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.Join the most important conversation in crypto and Web3 at Consensus 2023, happening April 26-28 in Austin, Texas. Come and immerse yourself in all that Web3, crypto, blockchain and the metaverse have to offer. Use code BREAKDOWN to get 15% off your pass. Visit consensus.coindesk.com.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Nick Adler joins the podcast to talk about his journey into Web3 and how he’s bringing culture to digital wearables through his love of streetwear.From onboarding Snoop Dogg into Web3 to being an early holder of Bored Apes and most recently, founding MNTGE, a Web3 company focused on streetwear, vintage fashion and digital collectibles, Nick shares his long-term version and approach in the space.Links mentioned from the podcast: Meta Will End Support for NFTs on Instagram, FacebookSesame Street to Launch First NFTs With VeVe, Starting With Cookie Monster Digital Collectibles at $60 EachTwitch Stream of the AI clipMNTGE WebsiteNick’s TwitterFollow us on Twitter: Sam EwenAvery AkkineniCoinDeskVayner3From our sponsor:Join the most important conversation in crypto and Web3 at Consensus 2023, happening April 26-28 in Austin, Texas. Come and immerse yourself in all that Web3, crypto, blockchain and the metaverse have to offer. Use code GENC to get 15% off your pass. Visit coindesk.com/consensus.-"Gen C" features hosts Sam Ewen and Avery Akkineni, with editing by Jonas Huck. Executive produced by Jared Schwartz and produced by Adrian Blust, Uyen Truong and Eleanor Pahl. Our theme music is "1882” by omgkirby x Channel Tres with editing by Doc Blust. Artwork by Nicole Marie Rincon.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Bank failures got you down? Don’t worry. Bitcoin was made for this.On this week’s Long Reads Sunday, NLW reads:“Should I Keep My Money in Bitcoin or a Bank?” By Daniel Kuhn “Evaluating Bitcoin as a Store of Value” by Joe Orsini“Bitcoin Was Built for This Moment” by Tatianna Koffman-“The Breakdown” is written, produced and narrated by Nathaniel Whittemore aka NLW, with today's editing by Jonas Huck, research by Scott Hill and additional production assistance by Eleanor Pahl. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsor today is “Foothill Blvd” by Sam Barsh. Image credit: erhui1979 / Getty Images, modified by CoinDesk.Join the discussion at discord.gg/VrKRrfKCz8.Join the most important conversation in crypto and Web3 at Consensus 2023, happening April 26-28 in Austin, Texas. Come and immerse yourself in all that Web3, crypto, blockchain and the metaverse have to offer. Use code BREAKDOWN to get 15% off your pass. Visit consensus.coindesk.com.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

How much did the crypto banking crisis actually have to do with crypto?NLW is joined by Austin Campbell, Adjunct Professor at Columbia University and former banker and stablecoin operator, to discuss the recent crypto banking crisis. They discuss:Why interest rate risk, not crypto troubles, was the source of the problemsWhy even banal regulatory disinterest in crypto could create significant problems for the industry What rules need to change for crypto to fit in a U.S. banking framework -“The Breakdown” is written, produced and narrated by Nathaniel Whittemore aka NLW, with today's editing by Jonas Huck, research by Scott Hill and additional production assistance by Eleanor Pahl. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsor today is “Foothill Blvd” by Sam Barsh. Image credit: BrianAJackson / Getty Images, modified by CoinDesk.Join the discussion at discord.gg/VrKRrfKCz8.Join the most important conversation in crypto and Web3 at Consensus 2023, happening April 26-28 in Austin, Texas. Come and immerse yourself in all that Web3, crypto, blockchain and the metaverse have to offer. Use code BREAKDOWN to get 15% off your pass. Visit consensus.coindesk.com.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The most valuable crypto stories for Friday, March 17, 2023. "The Hash" tackles today's hot topics: 11 major banks take action to rescue First Republic Bank. So why is First Republic's stock still flling? Time magazine reports that leaders of the Effective Altruism movement were repeatedly warned about Sam Bankman-Fried's character years before FTX collapsed. Plus, Salesforce is teaming up with Polygon for NFT-based loyalty programs.See also:Eleven Banks Deposit $30 Billion in First Republic Bank - WSJFormer FDIC Regulator: Friendliness Toward Crypto 'Does Not Exist' Crypto Twitter Thinks the Fed's $297B Balance Sheet Expansion Is 'QE', But It's Not  -This episode has been edited by Adrian Blust. The senior producer is Michele Musso and the executive producer is Jared Schwartz. Our theme song is “Neon Beach.”-Are you building the next big thing in Web3? Apply to pitch your project live on stage at the CoinDesk Pitchfest Powered by Google Cloud at Consensus, the industry’s most influential event happening April 26-28 in Austin, Texas. Apply by March 31 for a chance to be among the twelve finalists selected to pitch. Visit consensus.coindesk.com/pitchfest for more information.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

From Lightning infrastructure to Nostr and Ordinals, here’s what one Bitcoin startup accelerator is excited about.Kelly Brewster is the CEO of Wolf, a new Lightning and Bitcoin startup accelerator in New York City. In this conversation, he and NLW discuss five big themes they’re seeing among Bitcoin builders, including Bitcoin DeFi, Lightning Network infrastructure, gaming, Nostr/social media and ordinals.-“The Breakdown” is written, produced and narrated by Nathaniel Whittemore aka NLW, with today's editing by Jonas Huck, research by Scott Hill and additional production assistance by Eleanor Pahl. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsor today is “Foothill Blvd” by Sam Barsh. Image credit: Leontura / Getty Images, modified by CoinDesk.Join the discussion at discord.gg/VrKRrfKCz8.Join the most important conversation in crypto and Web3 at Consensus 2023, happening April 26-28 in Austin, Texas. Come and immerse yourself in all that Web3, crypto, blockchain and the metaverse have to offer. Use code BREAKDOWN to get 15% off your pass. Visit consensus.coindesk.com.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The most valuable crypto stories for Thursday, March 16, 2023. "The Hash" tackles today's hot topics: Will any potential buyer of Signature Bank be mandated to give up the bank's crypto business? Ethereum's long-awaited Shanghai upgrade now has an official target date. The Federal Reserve sets a launch date for instant payments. Plus, a U.S. bankruptcy judge rejects the government's request to halt Binance.US' buy of Voyager Digital's assets.See also:Signature Bank’s Prospective Buyers Must Agree to Give Up All Crypto Business: ReportVoyager-Binance.US Pause Denied by Bankruptcy Judge-This episode has been edited and produced by Adrian Blust. The senior producer is Michele Musso and the executive producer is Jared Schwartz. Our theme song is “Neon Beach.”-Are you building the next big thing in Web3? Apply to pitch your project live on stage at the CoinDesk Pitchfest Powered by Google Cloud at Consensus, the industry’s most influential event happening April 26-28 in Austin, Texas. Apply by March 31 for a chance to be among the twelve finalists selected to pitch. Visit consensus.coindesk.com/pitchfest for more information.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Circle Internet Financial’s USDC temporarily depegged last weekend when billions were revealed to be locked up in Silicon Valley Bank.Stablecoins have long been seen by U.S. policymakers as risky and a potential threat to U.S. financial stability. How ironic, then, that it was the failure of a U.S.-regulated bank in SVB that caused peril to USDC last weekend. NLW explains how USDC fell off and then recovered its peg, while also giving an update on Operation Choke Point 2.0.-“The Breakdown” is written, produced and narrated by Nathaniel Whittemore aka NLW, with today's editing by Jonas Huck, research by Scott Hill and additional production assistance by Eleanor Pahl. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsor today is “Foothill Blvd” by Sam Barsh. Image credit: erhui1979 / Getty Images, modified by CoinDesk.Join the discussion at discord.gg/VrKRrfKCz8.Join the most important conversation in crypto and Web3 at Consensus 2023, happening April 26-28 in Austin, Texas. Come and immerse yourself in all that Web3, crypto, blockchain and the metaverse have to offer. Use code BREAKDOWN to get 15% off your pass. Visit consensus.coindesk.com.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.