Bits + Bips: Why Investors Are Looking at the Jobs Data All Wrong - Ep. 882
Unchained6 Aug

Bits + Bips: Why Investors Are Looking at the Jobs Data All Wrong - Ep. 882

Subscribe to the new Bits + Bips channels! 📺 YouTube 🎧 Podcast → Apple Podcasts, Spotify, Pocket Casts, Fountain🐦 X / Twitter Last week’s macroeconomic data came with a twist: a massive job downward revision from the Bureau of Labor Statistics. But is it a recession signal, or just statistical noise? In this episode of Bits + Bips, Ben Werkman, chief investment officer at Swan Bitcoin, joins hosts Ram Ahluwalia, Noelle Acheson, and Steve Ehrlich to examine why markets shrugged off the data, and what it means for crypto. The panel also discusses: Whether markets are mispricing macro risk How Strategy’s latest capital raise may reflect rising treasury company risk The future of tokenized equity and how Coinbase could unlock private market value New regulatory signals suggesting the U.S. may allow banks to hold crypto The rise of “super apps” blending payments, trading, and custody Thank you to our sponsor! Mantle Hosts: Ram Ahluwalia, CFA, CEO and Founder of Lumida Noelle Acheson, Author of the “Crypto Is Macro Now” Newsletter Steve Ehrlich, Executive Editor at Unchained Guest: Ben Werkman, Chief Investment Officer at Swan Bitcoin Links: Macro BLS Drama CNN: Trump says the Bureau of Labor Statistics orchestrated a ‘scam.’ Here’s how the jobs report really works NYT: Big Downward Jobs Revisions Could Be a Warning Sign for the Economy CNBC: 'The revisions are hard evidence': White House struggles to justify firing of BLS chief over weak jobs numbers Trump fires commissioner of labor statistics after weaker-than-expected jobs figures slam markets PCE Reuters: US inflation warms up in June as tariffs boost some goods prices Tariffs NYT: Trump’s Tariffs Are Making Money. That May Make Them Hard to Quit. FT: Donald Trump to raise tariffs on India over Russian oil purchases CNBC: EU will delay planned U.S. tariffs for six months to allow for trade talks Crypto earnings season Coverage of $COIN and $MSRT on Bits + Bips: Strategy Had a Massive Quarter: Impressive Numbers, But Are They Sustainable? Coinbase Missed Earnings, But the Bull Case Is Still Intact, Analyst Says Unchained articles: Coinbase Veered From Its Neutral Stance With Base. Could That Bet Go Wrong? How Michael Saylor Plans to Ensure Strategy Keeps Its Bitcoin Forever Coinbase Expands Into Tokenized Stocks and Prediction Markets How Robinhood's New Crypto Strategy Could Help Its TradFi Ambitions Timestamps: 🎬 0:00 Intro 📉 4:25 Why Noelle thinks we’re looking at the job numbers all wrong 🍔 16:23 Whether the BLS revision is actually a nothing burger 🧊 19:33 How investors are managing to shrug off all the macro noise 🏢 32:37 What surprised Ben about corporate bitcoin adoption and how earnings are shifting the narrative 💰 37:57 Why Strategy is raising capital at sky-high premiums 📊 44:40 How Robinhood and Coinbase stack up by the numbers 📜 51:11 What new signals reveal about the U.S. rewriting financial rules 📱 57:43 How “super apps” are changing the game for crypto and TradFi 📈 1:05:18 Where the panel sees markets heading next 🏛️ 1:13:17 What it might take for governments to start holding crypto Learn more about your ad choices. Visit megaphone.fm/adchoices

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IBM's Jerry Cuomo On Everything From Blockchain Security To Hyperledger To The Internet Of Things

IBM's Jerry Cuomo On Everything From Blockchain Security To Hyperledger To The Internet Of Things

Thanks to all the listeners who've let me know what you want to hear more of, what you like about the show, and who you want to see as guests. If you haven't yet, have a say in the direction of the show -- tell me what you like, what the podcast could do better, and who you are: https://www.surveymonkey.com/r/unchained Jerry Cuomo has been at IBM his whole career and says that the emergence of blockchain technology is the second time in his career he has seen a breakthrough that will affect the lives of everyday people. IBM's VP of blockchain technologies talks about the company's work in areas as diverse as food safety in its project with Walmart, how blockchains will interact with Internet of Things devices and how it's approaching its identity work. Plus, he dives into what security for a permissioned blockchain looks like, whether IBM will lock its clients into its software, and what exactly its role is with the Hyperledger Foundation. Show notes are available here: http://www.forbes.com/sites/laurashin/2017/05/02/ibms-jerry-cuomo-on-everything-from-blockchain-security-to-hyperledger-to-the-internet-of-things/ IBM blockchain: https://www.ibm.com/blockchain/ We also reference my interview with Kathryn Haun of the Department of Justice: https://www.forbes.com/sites/laurashin/2016/11/01/federal-prosecutor-kathryn-haun-on-how-criminals-use-bitcoin-and-how-she-catches-them/ Learn more about your ad choices. Visit megaphone.fm/adchoices

2 Maj 201756min

This VC Is Sure Venture Capital Is About To Be Disrupted

This VC Is Sure Venture Capital Is About To Be Disrupted

Don't forget to take the Unchained Podcast survey! http://surveymonkey.com/r/unchained  Blockchain Capital's recent BCAP token offering is a harbinger of things to come in venture capital and private equity, says the firm's managing director Brock Pierce. And Stan Misohnik, the CEO and cofounder of a new investment bank focused on cryptocurrency called The Argon Group, seconds that. Pierce talks about how his career in cryptocurrency started with video games, how Blockchain Capital's three funds have evolved over time, why he is taking the step to disrupt himself, and why his phone number is being handled by the office of T-Mobile's president. And Miroshnik explains how his background in capital markets helped him see the business opportunity and why the BCAP token issuer was based in Singapore. Show notes: http://www.forbes.com/sites/laurashin/2017/04/18/this-vc-is-sure-venture-capital-is-about-to-be-disrupted/ Blockchain Capital: http://blockchain.capital/ The Argon Group: https://argongroup.com/ Blockchain Capital III Digital Liquid Venture Fund: https://blockchaincapital.tokenhub.com/ The phone hijacking article Brock and I reference: http://www.forbes.com/sites/laurashin/2016/12/20/hackers-have-stolen-millions-of-dollars-in-bitcoin-using-only-phone-numbers/ The episode with Jerry Brito and Peter Van Valkenburgh of Coin Center: https://www.forbes.com/sites/laurashin/2016/10/18/how-coin-center-is-helping-define-the-big-fuzzy-gray-area-of-blockchain-and-cryptocurrency-law/   Learn more about your ad choices. Visit megaphone.fm/adchoices

18 Apr 201759min

Why Bitcoin May Split In Two And How To Prevent It

Why Bitcoin May Split In Two And How To Prevent It

Please take the Unchained podcast survey! https://www.surveymonkey.com/r/unchained The bitcoin community is mired in a civil war. In this episode of the Unchained podcast, supporters of opposing sides -- former Bitcoin Core developer Jeff Garzik and Litecoin creator Charlie Lee -- explain why nuclear options are on the table. The discussion touches on whether high transaction fees are bad for the network or a necessary evil, which would be considered the "true" bitcoin if the currency split in two, and whether the cryptocurrency is already centralized, or controlled by a few. We also discuss why bitcoin can't just look at the playbook of other open source projects to get past this stalemate. And they give advice to current bitcoin owners wondering whether to sell or hold through this bitcoin game of chicken. Show notes: https://www.forbes.com/sites/laurashin/2017/04/04/why-bitcoin-may-split-in-two-and-how-to-prevent-it/   Other links: Bloq: http://bloq.com/ Coinbase: https://www.coinbase.com/ Litecoin: https://litecoin.org/ This episode was sponsored by OnRamp: http://www.thinkonramp.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices

4 Apr 20171h

Bobby Lee, CEO Of BTCC, On Why The Chinese Probably Aren't Using Bitcoin To Evade Capital Controls

Bobby Lee, CEO Of BTCC, On Why The Chinese Probably Aren't Using Bitcoin To Evade Capital Controls

Bobby Lee, CEO of BTCC, one of the world's longest-running cryptocurrency exchanges, talks about whether Chinese people are using bitcoin to evade capital controls, how bitcoin trading in China has changed since a government crackdown in early January, and how he came up with the idea for no-fee trading in the early days of bitcoin. Read the show notes. Other links: BTCC Mobi Bitcoin Foundation This episode was sponsored by OnRamp. Learn more about your ad choices. Visit megaphone.fm/adchoices

21 Mars 201755min

Why The First Employee Of Coinbase Launched A Hedge Fund

Why The First Employee Of Coinbase Launched A Hedge Fund

Olaf Carlson-Wee is the founder of Polychain Capital, a hedge fund that has invested $15 million into digital assets and has gotten backing from storied venture capital firms Andreessen Horowitz and Union Square Ventures. In this episode, Carlson-Wee recounts war stories from the early days of bitcoin, including how he learned about bitcoin before his computer science professors, bought bitcoins with cash and created “the Bitcoin SAT” to make hires at Coinbase. He also describes how to separate cryptocurrency scams from legitimate ventures, how he plays blackjack against a smart contract and why launching a digital asset hedge fund means he can no longer earn and spend mostly in bitcoin. Read the show notes.  Other links: Polychain Capital Coinbase Golem Tezos This episode was sponsored by Onramp. Learn more about your ad choices. Visit megaphone.fm/adchoices

7 Mars 201757min

Why Nasdaq Is Even More Optimistic About Blockchain Than It Was 3 Years Ago

Why Nasdaq Is Even More Optimistic About Blockchain Than It Was 3 Years Ago

Fredrik Voss, Nasdaq's head of blockchain initiatives, discusses what the company has accomplished with the technology and how his firm evaluates whether potential projects could benefit from a blockchain solution. He also reveals what is likely to really slow adoption of distributed ledgers (hint: not the tech itself) and gives advice to other companies looking to incorporate it. Read the show notes and my magazine story on Chain and its work with Nasdaq.  This episode was sponsored by Onramp. Learn more about your ad choices. Visit megaphone.fm/adchoices

21 Feb 201750min

With Deadline Looming, Will The SEC Approve A Bitcoin ETF?

With Deadline Looming, Will The SEC Approve A Bitcoin ETF?

The SEC will make a decision on a proposed bitcoin ETF by March 11. Will it approve? An optimist and pessimist weigh in, touching upon bitcoin’s liquidity, the impact recent events in China have had on its trading, as well as proposals for bitcoin ETFs by other companies. Plus, they reveal what impact an ETF could have on the bitcoin market. Read the show notes. Other links:  Needham & Company Global Advisors Gemini This episode was sponsored by Onramp.   Learn more about your ad choices. Visit megaphone.fm/adchoices

7 Feb 201757min

Is The IRS Justified In Demanding Information On Millions Of Bitcoin Users?

Is The IRS Justified In Demanding Information On Millions Of Bitcoin Users?

The IRS found three entities using bitcoin to evade taxes and has now demanded the records of millions of users at Coinbase, the largest U.S. cryptocurrency exchange. An accountant and an attorney specializing in cryptocurrency discuss whether the IRS is overreaching, how this "unprecedented" case differs from previous ones pursued by the IRS, and what they think the ultimate outcome will be. Read the show notes. Other links: Coinbase Berns Weiss LLP Global Tax Accountants Brian Armstrong's response on Medium My magazine feature on Coinbase This episode was sponsored by Onramp. Learn more about your ad choices. Visit megaphone.fm/adchoices

24 Jan 201751min

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