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Why One Stablecoin Is Being Backed by Bitcoin

Plus updates from Russia and Canada.

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This episode is sponsored by NexoArculus, and FTX US.

Today on “The Breakdown,” NLW looks at:

  • The latest from Russia, including skepticism about the effectiveness of the first round of sanctions
  • Updates on Canada’s use of the Emergencies Act to freeze protest-associated bank accounts
  • Why the UST stablecoin has announced a $1 billion bitcoin reserve

“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill 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 “Vision” by OBOY. Image credit: peepo/E+/Getty Images, modified by CoinDesk. Join the discussion at