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.

Business
Investing
701
The Geopolitical Shifts Shaping the Economy, Fe...
  This episode is sponsored by , and .   NLW kicks off his “Midsummer Macro” series with a deep dive conversation with Demetri Kofinas, host of the “Hidden Forces” podcast. They discuss the Fed, inflation, the secular shift to...
49 min
702
For Russia and Ukraine Refugee Charities, Crypt...
This episode is sponsored by , and .   On today’s episode of “The Breakdown,” NLW looks at the possible reasons for crypto’s recent rally and discusses the growing role of crypto in Russia and Ukraine related to refugee nonprofits and...
16 min
703
The Ethereum Merge Settles In as Next Crypto Na...
This episode is sponsored by , , and .   On today’s episode, NLW covers the crypto industry chatter around the Ethereum Merge. Last week, ETH devs pointed to September as a likely date for the transition from proof-of-work to proof-of-stake,...
17 min
704
A Primer on Balaji’s “Network State”
This episode is sponsored by , , and .   On this week’s Long Reads Sunday, NLW reads the “essay” version of Balaji Srinivasan’s new book   - is a security-first platform where you can buy, exchange and borrow against your crypto....
18 min
705
Markets Are Betting On a 100bps Rate Hike This ...
This episode is sponsored by , , and .   On this edition of the Weekly Recap, NLW looks at: The markets new expectations for a 100bps or 1% rate hike at this month’s FOMC meeting 3AC and Celsius news  Mt. Gox FUD Bank protests in China ...
16 min
706
A K-Shaped Recession?
This episode is sponsored by , , and .   Is a recession coming? Are we in a recession already? Can we be in a recession with only 3.6% unemployment? On today’s episode, NLW explores the new narrative of recession starting to take hold in...
17 min
707
Giving Up the Ghost? It’s Chapter 11 Time for C...
This episode is sponsored by , , and .   On today’s episode, NLW covers Celsius moving into Chapter 11 bankruptcy proceedings. This move has been anticipated for some time, but in advance Celsius sought to repay as many of its DeFi loans as...
15 min
708
Now at 9.1%, Inflation Just Keeps Going Up
This episode is sponsored by , , and . Nothing is more important to markets right now than how the Fed responds to inflation. On today’s show, NLW discusses the latest consumer price index numbers for June. He argues that they make it likely that...
16 min
709
The Battle Around Three Arrows Capital
This episode is sponsored by , , and .   On today’s episode of “The Breakdown,” NLW looks at the latest in the battle involving toppled former crypto giant hedge fund Three Arrows Capital, including accusations from liquidators the...
16 min
710
Elon Pulls Out
This episode is sponsored by , , and .   After months of dithering, Elon Musk announced last Friday he would officially be pulling out of his deal to acquire Twitter for $44 billion. He cited as his reason a lack of transparency or clarity...
16 min
711
Can DAOs Do More Than Coordinate Money?
This episode is sponsored by , and .    On this week’s “Long Reads Sunday,” NLW reads and discusses:   “” by Parker McCurley “” by Simon Yu    - is a security-first platform where you can buy, exchange and...
15 min
712
After Prime Minister Boris Johnson Resigns, Are...
This episode is sponsored by , and .    After years of what many would consider hostility to the industry, the British government did a major about-face in April when Chancellor of the Exchequer Rishi Sunak announced the country’s...
14 min
713
The Wall Street Journal Calls Out SEC Chairman ...
  This episode is sponsored by , and .    The crypto industry hasn’t been particularly pleased with the SEC under Gary Gensler. In particular, the continued rejections of bitcoin spot ETFs (even after a futures ETF was approved last...
17 min
714
Should the People Making Crypto Policy Own No C...
This episode is sponsored by , and .    The U.S. Office of Government Ethics released rules this week that executive branch staffers who owned crypto would not be allowed to work on any crypto-related regulation. NLW explores the pros and...
17 min
715
The Dollar Wrecking Ball
This episode is sponsored by , and .    On today’s episode, NLW digs into the idea of the U.S. dollar as a global wrecking ball, and explores why the dollar is the strongest it has been against other currencies in 20 years. As part of...
15 min
716
Why Argentina Is Paying a Premium for Stablecoins
This episode is sponsored by , and .    On today’s episode, NLW looks at a number of crypto events from the long weekend, including:  Why Argentines flooded into stablecoins and drove the price of tether above $1 over the weekend...
16 min
717
After Bitcoin Maximalism
This episode is sponsored by , and .    On this week’s “Long Reads Sunday,” NLW reads and reflects on Nic Carter’s “.” - is a security-first platform where you can buy, exchange and borrow against your crypto. The company...
21 min
718
June Was Bitcoin’s Worst Month Ever
This episode is sponsored by , and .    On the “Weekly Recap,” NLW looks at:  The progress around two major European crypto regulation frameworks. The latest in Three Arrows Capital crypto contagion.  Issues in the mining...
14 min
719
Powell: “How Little We Understand About Inflation”
This episode is sponsored by , and .    On today’s episode, NLW looks at:  Fed Chair Jerome Powell’s comments on inflation at the ECB conference. The latest recession indicators.  Manufacturing declines.  Turmoil in the...
16 min
720
Grayscale’s Legal Battle Against the SEC
This episode is sponsored by , and .    Late Wednesday, the U.S. Securities and Exchange Commission rejected Grayscale’s proposal to convert the Grayscale Bitcoin Trust to a spot bitcoin exchange-traded fund (ETF). Within minutes,...
18 min
721
A Primer on Bitcoin’s Lightning Network
This episode is sponsored by , and .    On today’s episode, NLW gives a 101-level overview of the Lightning Network, including where it came from, how it works, and who is building on it.  - is an all-in-one platform where you can...
13 min
722
Alex Gladstein on Why Human Rights Activists Do...
This episode is sponsored by , and .    NLW is joined today by Alex Gladstein, chief strategy officer of the Human Rights Foundation. They discuss the Oslo Freedom Forum, the human rights use case for Bitcoin and what Alex is excited about...
26 min
723
The Battle for Self-Hosted Wallets
This episode is sponsored by , and .    On today’s episode, NLW explores the ongoing policy debate around “unhosted” (or, as crypto users call them – “self-hosted”) wallets, looking at MiCA legislation in Europe, an updated...
14 min
724
Putin Weaponizes Inflation
This episode is sponsored by , and .    On this week’s “Long Reads Sunday,” NLW builds off of Stack Hödler’s on a recent Putin speech to examine the Russian leader’s weaponization of inflation.  - is an all-in-one platform...
15 min
725
Slouching Toward Crypto Winter
This episode is sponsored by , and .    In this edition of the “Weekly Recap,” NLW argues that this week saw the crypto community settling into the bear market. He looks at why both the macro landscape and crypto’s recent string of...
17 min