The Breakdown

A daily analysis of macroeconomics, bitcoin, geopolitics and big picture power shifts, hosted by Nathaniel Whittemore @nlw. The Breakdown is part of Blockworks.

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Investing
476
Wait, Crypto Caused the Fentanyl Crisis?!
Today on The Breakdown, NLW looks at the latest assinine argument about crypto from Senator Elizabeth Warren, as well as digging into the finalized debt deal, MiCA and more. Enjoying this content? SUBSCRIBE to the Podcast:...
12 min
477
Is China Coming Back to Crypto?
China's crypto policies appear to be shifting. From bans on trading and mining in 2021 to this year encouraging state run banks to offer crypto companies in Hong Kong banking accounts, a change is in the air. On this episode, NLW looks at a recent Web...
15 min
478
Debt Ceiling Deal Gives Unlimited Debt Till 2025
Today on The Breakdown, NLW wraps up the macro story that has dominated discourse for the last month.  Enjoying this content? SUBSCRIBE to the Podcast: https://pod.link/1438693620 Watch on YouTube:...
14 min
479
Can Bitcoin Avoid the Partisan Curse?
On this episode of Long Reads Sunday, NLW reads by Daniel Kuhn.  Enjoying this content? SUBSCRIBE to the Podcast: https://pod.link/1438693620 Watch on YouTube: https://www.youtube.com/nathanielwhittemorecrypto Subscribeto the newsletter:...
11 min
480
The Tornado Cash Lawsuit Advances
Today on The Breakdown, NLW covers: Tornado Cash lawsuit and hack The latest in Ledger The Debt Ceiling debate nears a conclusion Enjoying this content? SUBSCRIBE to the Podcast: Watch on YouTube: Subscribeto the newsletter: Join...
15 min
481
Presidential Candidate Ron DeSantis Pledges to ...
Florida Governor Ron DeSantis announced his presidential campaign formally last night on a Twitter spaces with Elon Musk. During the conversation he discussed Bitcoin, including why he thinks it's important and why he'll protect it as president. On...
16 min
482
Hong Kong Opens For Crypto Business
One of the surprising twists of this crypto cycle is the US closing down to crypto and Hong Kong (and the Chinese powers behind it) opening back up. In this episode, NLW looks at Hong Kongs new crypto exchange rules as well as Coinbase's response to...
15 min
483
Reuters Says Binance Commingled Funds, But Is I...
After FTX, the industry's guard is up when it comes to exchanges behaving badly. Reuters today published a piece saying that Binance had commingled user funds in 2020 and 2021. Binance strenuously denied the claims and called it just more FUD. Who has...
14 min
484
Biden Defaulting on the Debt to Own the Crypto ...
On today's episode, NLW digs into the acrimonious debt ceiling debates, including the way in which crypto has recently become yet another partisan football.  Enjoying this content? SUBSCRIBE to the Podcast: https://pod.link/1438693620 Watch...
15 min
485
Why Ordinals and BRC20 Tokens are Driving Bitco...
Bitcoin has been experiencing much higher-than-normal fees of late, driven by Ordinal inscriptions and BRC-20 token memecoin mania. On this Long Reads Sunday, NLW reads two essays that explore how they're driving layer 2 development. - Michael Casey ...
12 min
486
Crypto Wins A Key Battle in its War with the SEC
On this edition of the weekly recap, NLW covers: Ledger turmoil Stablecoin reserve shifts Binance out in Australia  Binance total market share dips below 50% SEC says Filecoin is a security Judge rules Hinman emails can't be locked Enjoying...
15 min
487
Crypto Allies Introduce Securities Clarity Act
Congressional Blockchain Caucus leaders Tom Emmer (R) and Darren Soto (D) have introduced the Securities Clarity Act, which is designed to ...well...give clarity on what tokens are securities and when. The crypto community has heralded it as simple,...
15 min
488
Will the US Default on Its Debt? Circle Ditches...
Oh the irony. For most of the last few years, the US political establishment has been concerned about the risk that stablecoins might have for the mainstream financial system. This year, however, it's been the mainstream financial system wreaking...
17 min
489
Ledger Recover Announcement Leads to Massive Cr...
Ledger announced a new program yesterday called "Ledger Recover" that has people feeling confused, betrayed, and angry. NLW explores what the uproar is about and what it says about the start of self-custody and self-sovereign values in the crypto...
19 min
490
SEC Finally Responds to Coinbase Lawsuit
After ignoring a Coinbase request for rulemaking for 10 months, Coinbase sued the SEC, compelling a judge to compell the SEC to respond. In 36 pages of legalese, the SEC effectively said "we don't have to move any faster than we want and regulation by...
16 min
491
Binance Says "Bye" To Canada
On today's episode, NLW looks at Binance's troubled history with the Great White North, and explores to what extent their exit from Canada is a story about Binance or a story about Canada. Also Quadriga CX is finally returning to creditors at 13c on...
14 min
492
The Utter Folly of Biden's Proposed Bitcoin Min...
Today on Long Reads Sunday, NLW reads Nic Carter's   Enjoying this content? SUBSCRIBE to the Podcast: https://pod.link/1438693620 Watch on YouTube: https://www.youtube.com/nathanielwhittemorecrypto Subscribeto the newsletter:...
11 min
493
The IRS Says FTX Owes HOW Much!?
Today on The Breakdown its FTX's Insane tax bill and why 2022 won't leave us alone. Enjoying this content? SUBSCRIBE to the Podcast: https://pod.link/1438693620 Watch on YouTube: https://www.youtube.com/nathanielwhittemorecrypto Subscribeto the...
14 min
494
Chamber of Commerce Says “The SEC’s actions are...
On today's Breakdown, NLW catches up on:  A number of amicus briefs filed in support of Coinbase's lawsuit against the SEC The Chamber of Commerce joins the fight Reps McHenry and Huizenga pen another letter to SEC demanding information Brad...
16 min
495
Congressional Gaslighting: For Crypto, the Part...
Another week, another crypto hearing, and this time the Democrats handed out talking points. NLW discusses how partisan the discourse around crypto and Bitcoin are becoming and assesses whether it is likely to be a winning political strategy. ...
16 min
496
The 3 Blockers to Powell's Soft Landing
We got our report card today! Inflation surprised to the downside, coming in at 4.9%. NLW explores the reaction and why Powell still has three big barriers to getting his soft landing, including, notably, the debt ceiling negotiations.  Enjoying...
15 min
497
The Next Big Crypto Battle
..it's not BRC20. (At least not yet). Nope, it's the SEC's custody rule which is yet another attempt at a de-facto crypto ban through legal wrangling. The crypto industry, however, is not having it.  Enjoying this content? SUBSCRIBE to the...
17 min
498
Binance Says Lightning Support is Coming After ...
A busy weekend around the crypto space. On today's episode, NLW covers: Tl;DR on BRC-20 Binance halting withdrawals and announcing support for Lightning DOJ targeting Binance around sanctions? NYAG introduces even more sweeping crypto...
18 min
499
The Global Role of Bitcoin
On this week's Long Reads Sunday, NLW reads: - Carlos Cardenas  - Jonathan Buck Enjoying this content? SUBSCRIBE to the Podcast: https://pod.link/1438693620 Watch on YouTube: https://www.youtube.com/nathanielwhittemorecrypto Subscribeto...
11 min
500
The End of Consensus Reality with Jon Askonas
One of the jarring but regular experiences of modern life is discovering that someone, perhaps even someone close to you, sees the world and the events that happened in it in a wildly different way from what your perception tells you happened. It can...
40 min