U.S. Crackdown on Crypto Intensifies. Plus: Making Bitcoin Fun Again!

January 0001

Join Alex Tapscott and Andrew Young as they decode the world of DeFi with special guest FarmerJoe, an OG Bitcoin Ordinal Whale. Listen in as they discuss the definition of a Bitcoin Ordinal, their growth and evolution, their impact on the Bitcoin network, how they take on those that critique them, the sustainability of their demand, whether the network has the capabilities to support them at greater scale, whether Ordinals can bring value and serve as a price catalyst for Bitcoin, the SEC’s recent lawsuits against Binance and Coinbase, and more!

In January 2023, Casey Rodarmor introduced the world to Bitcoin Ordinals, allowing the smallest unit of Bitcoin, “satoshis,” to be inscribed with information and become non-fungible tokens (NFTs). With 100 million satoshis making up 1 Bitcoin, Ordinals are created as each satoshi gets assigned by a uniquely identifiable number by the order in which they are mined. Forbes Digital Assets reported that, as of May 23rd, there were more than 9 million Ordinals in existence; there was an absolute frenzy of demand in the past few months, which congested the Bitcoin network and saw transaction fees hit their highest point since November 2021. Earlier this week, the Securities and Exchange Commission (SEC) filed lawsuits against the world’s largest crypto exchange, Binance, and America’s biggest crypto exchange, Coinbase, citing multiple violations of U.S. securities laws. FarmerJoe has been in the crypto realm since 2017 and has worked, invested, and advised on many projects across different chains, with a core interest in real-yield DeFi, security tokens, and NFTs. To be early on new opportunities, FarmerJoe primarily focuses on the latest trends, themes, and news to share helpful alpha with his followers.

Tune in to the 99th DeFi Decoded episode to hear Alex, Andrew, and FarmerJoe discuss all things DeFi and Bitcoin Ordinals. What is a Bitcoin Ordinal, and exactly how do they work? Are Ordinals congesting the Bitcoin network, and what’s FarmerJoe’s view on those who critique them? Where do we go from here? What’s next for Ordinals? With the SEC’s legal action against Binance and Coinbase this week, what is the crypto community’s vibe and stance on everything?


[0:00] Introduction
[4:09] Defining Bitcoin Ordinals
[5:51] Ordinal Growth and Evolution
[7:47] Impact on Bitcoin Network
[10:25] Take On Ordinal Critiques
[14:48] Sustainability of Demand
[17:21] Bitcoin Network Scaling Capabilities
[23:18] Value of NFTs on Bitcoin
[26:16] Exciting DeFi Projects & Use Cases
[30:50] SEC Complaints Against Binance and Coinbase
[39:46] Conclusion


Alex Tapscott, Andrew Young and guests break down the fundamentals of Decentralized Finance (DeFi) and how this cutting-edge technology enables individuals and institutions to transact, and create value, without the need for traditional financial intermediaries.

The opinions, estimates and projections contained within this recording are solely those of Ninepoint Partners and are subject to change without notice. Ninepoint makes every effort to ensure that the information has been derived from sources believed to be reliable and accurate. However, Ninepoint assumes no responsibility for any losses or damages,  whether direct or indirect, which arise out of the use of this information. These views are not to be considered investment advice nor should they be considered a recommendation to buy or sell. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated. Important information about the Ninepoint Partners Funds, including investment objectives and strategies, purchase options, and applicable management fees, and other charges and expenses, is contained in their respective prospectus, or offering memorandum. Please read these documents carefully before investing. We strongly recommend that you consult your investment advisor for a comprehensive review of your personal financial situation before undertaking any investment strategy. For more information visit ninepoint.com/legal. This report may not be reproduced, distributed, or published without the written consent of Ninepoint Partners LP.

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Part of Ninepoint Digital Partner’s DeFi Decoded Podcast Series. Available at Google, Apple, and Spotify Podcasts.


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