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
726
The Bear Market Evolution of Crypto Institutions
This episode is sponsored by , and .   Despite the bear market, both crypto-native and TradFi institutions in the crypto sector continue to plug along. In today’s episode, NLW looks at an update to how crypto banks can get direct access to the...
18 min
727
The Arrest Heard Round the World
This episode is sponsored by , and .   On today’s episode, NLW looks at the crypto industry’s response to news that 29-year-old Alexey Pertsev was arrested for his work on Tornado Cash. He also looks at Coin Center’s new potential court...
17 min
728
Why Economic Wars Are Inflationary
This episode is sponsored by , , and .   On this edition of “Long Reads Sunday,” NLW excerpts Credit Suisse analyst Zoltan Pozsar’s “.” - is a security-first platform where you can buy, exchange and borrow against your crypto. The...
15 min
729
Tornado Cash Sanctions: The Most Significant Cr...
This episode is sponsored by , , and .   On this edition of the “Weekly Recap,” NLW reflects on the July inflation data as well as the U.S. Treasury Department’s sanctions on Tornado Cash.  - is a security-first platform where you...
16 min
730
A Primer on How Oil Has Reflected Macro and Geo...
This episode is sponsored by , , and .   On today’s episode, NLW provides a primer on the recent history of oil markets. He looks at how oil went from trading in negative territory in April 2020 to being a massive contributor to 2022’s...
17 min
731
How Much Privacy and Decentralization Really Ma...
This episode is sponsored by , , and .   NLW is joined today by Jill Gunter, the chief strategy officer at Espresso Systems. In this conversation, they discuss why the U.S. Treasury Department might have chosen an action that seemingly leaves...
48 min
732
Have We Passed Peak Inflation?
This episode is sponsored by , , and .   The biggest driver of the macroeconomic backdrop is inflation. At the last FOMC meeting, the Federal Reserve made it clear that its fall decisions about interest-rate increases would be driven by data –...
16 min
733
Is the Jobs Report Hiding Economic Weakness?
This episode is sponsored by , , and .   Last week, the Bureau of Labor Statistics reported that 528,000 U.S. jobs were added in July. This was nearly double economists’ estimates. The Biden administration used the report as evidence that...
16 min
734
Are the US Sanctions on Tornado the Beginning o...
This episode is sponsored by , , and .   In breaking news, the U.S. Treasury Department’s Office of Foreign Assets Control announced on Monday that it was adding Tornado Cash and associated addresses to its sanctions list. It is seemingly the...
19 min
735
Complexity Theater: Why Luna Was the First Time...
This episode is sponsored by , and .   On this “Long Reads Sunday,” NLW reads: – Jameson Lopp – NLW  - is a security-first platform where you can buy, exchange and borrow against your crypto. The company safeguards your crypto by...
17 min
736
The UK Argues Crypto Is a New Type of Property
This episode is sponsored by , and .   On this edition of the “Weekly Recap,” NLW homes in on an interesting report out of the U.K. that would define crypto as a fundamentally new type of property – something that some crypto lawyers have...
15 min
737
Crypto's No-Fun Hack Week
This episode is sponsored by , and .   One of the biggest challenges to the mainstreaming of crypto is the propensity for novel protocols to be exploited. This week, the Nomad bridge was drained of some $200 million while another vulnerability...
16 min
738
Crypto's Institutional Narrative: Less Dead Tha...
This episode is sponsored by , and .   One would be forgiven for thinking the crypto institutional narrative is dead. Tesla sold bitcoin. Cboe took a huge write-down on the exchange it bought last year. Even Cathie Wood and ARK sold $COIN!...
18 min
739
US Senators Say BTC and ETH Are Commodities
This episode is sponsored by , and .   Another day, another bipartisan crypto bill. On today’s episode, NLW covers the latest in a string of legislation that shows that Congress and the Senate are taking their role in determining how crypto is...
16 min
740
‘Nancy Pelosi is going to Taiwan so she can buy...
This episode is sponsored by , and .   After weeks of speculation, debate and increasingly bellicose rhetoric, Speaker of the House of Representatives Nancy Pelosi has decided to go to Taiwan. In today’s episode, NLW explains discussion around...
19 min
741
Sucker’s Rally or the Worst Is Over?
This episode is sponsored by , and . In today’s episode, NLW looks at June and July as paired months that remade the market landscape. He looks at market data, key events in crypto and key events in macro to paint a picture of where things stand...
18 min
742
Crypto Credit Isn’t Dead
This episode is sponsored by , and .   On this week’s “Long Reads Sunday,” NLW reads Nic Carter’s “.” - is a security-first platform where you can buy, exchange and borrow against your crypto. The company safeguards your crypto by...
16 min
743
The Recession Discussion Is Incredibly Dumb
This episode is sponsored by , and .   “Recession” is the latest word to run afoul of our shifting definitions and political newspeak. This week, numbers from Q2 came out showing that the U.S. had seen a declining GDP for the second quarter...
19 min
744
Volatility Ahead?
This episode is sponsored by , and . On this edition of the “Weekly Recap,” NLW looks at four reasons markets could see heightened volatility between now and November:  Fund managers making YOLO bets to avoid redemptions Inflation surprises...
18 min
745
Why Markets Viewed the Fed's Latest 75 Basis Po...
This episode is sponsored by , and .   Yesterday was “Fed Day” and the U.S. Federal Reserve announced its second 75 basis point interest rate hike in a row. Despite the fastest pace of monetary tightening in a generation, markets rallied...
19 min
746
What's Behind Growing US-China Tensions?
This episode is sponsored by , and .   U.S. President Joe Biden is slated to talk with Chinese President Xi Jinping later this week. In the background lurks growing tensions around House Speaker Nancy Pelosi’s potential visit to Taiwan next...
20 min
747
The State of Crypto in 3 Themes
This episode is sponsored by , and .   On today’s episode, NLW looks at a slate of news from the crypto industry, organized around three big-picture themes: Regulatory – including the latest from the SEC, CFTC and Treasury Department ...
18 min
748
The SEC’s Escalating Battle Against Crypto
This episode is sponsored by , and .   On today’s episode, NLW catches listeners up on the criminal charges filed against a former Coinbase employee and two of his associates last week around insider trading. The charges come from the Justice...
19 min
749
How Bitcoin Can Support the Green Energy Transi...
This episode is sponsored by , and .   On this week’s “Long Reads Sunday,” NLW looks at two discussions of the positive role Bitcoin can play in greening the grid.    He reads:  - Michael Casey   by Level39   - ...
15 min
750
What Crypto Needs to Build Next, Feat. Qiao Wang
This episode is sponsored by , and .   Qiao Wang is a creator of and core contributor to Alliance DAO, an accelerator for Web3 companies in decentralized finance (DeFi), infrastructure, distributed autonomous organizations (DAO), non-fungible...
25 min