Binance and Coinbase, “Crypto not Bitcoin” Crash, Plus Recessionary Hurricane - FED 147
Talking Binance and Coinbase getting sued by the SEC. Plus China import and export numbers disappoint, and Europe slides into official recession.
Hosts: Ansel Lindner and Christian Keroles
Fed Watch is a macro podcast with a clear contrarian thesis of a deflationary breakdown of the financial system leading to bitcoin adoption. We question narratives and schools of thought, and try to form new understanding. Each episode we use current events to question mainstream and bitcoin narratives across the globe, with an emphasis on central banks and currencies.
In this episode, CK, Chris and I talk Coinbase and Binance and what it means for the industry and Bitcoin. After that we discuss the China import/export numbers crashing and what that means for the global economy. Global recession is now spilling over to Germany and Europe as a whole has now entered recession. Lastly, we talk about minor central banks are back to raising their policy rates. What are they thinking?
Of course, Binance and Coinbase were sued by the Securities and Exchange Commission (SEC) this week. Lots of public comments were made by the two beleaguered exchanges, top among them that the SEC failed to provide a path to become compliant. This doesn't match with what the SEC has said, so we walk through this issue. We are not lawyers, but we are bitcoin experts, who have correctly predicted how this whole sector would turn so far.
The global recession continues to get worse for China and Europe. One of the central tenants of this show is that deglobalization will lead to dedollarization and bitcoinization. In that process, China and Europe will be hit much harder than the US economy, and despite what the famous macro pundits have said since COVID, we have been much more correct. In fact, they have been exactly wrong on most things, while we have been directionally correct.
Last up for the show is talk about minor central banks. After the banking scares from earlier this year, these smaller central banks have returned to hiking rates. Why would they do this, and what are they thinking, are the questions we ask.
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- China export/imports crash
- More China exports drop via Bloomberg
- Europe enters recession
- Australia central bank hikes rates
- Central bank of Canada hikes rates
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