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
1101
What a New Era of Big Government Could Mean for...
A reading of David Z. Morris’ piece for CoinDesk “”.   -- Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io -- Enjoying this content?   SUBSCRIBE to the Podcast Apple: ...
12 min
1102
Is the Bitcoin Bull Market Over?
Today on “The Breakdown’s Weekly Recap” NLW looks at a growing number of predictions of a new “crypto winter” as well as some reviews of how companies and DAOs are preparing for that possibility. He shares poll results from whether Bitcoin...
9 min
1103
Who Matters More to Bitcoin: Whales or Plebs?
Today on the Brief: May’s middling jobs report A ransomware update Square building a bitcoin hardware wallet Our main discussion looks at the various constituencies within bitcoin and asks who has what type of power to shape the network....
14 min
1104
Chinese State Media Indicates China Is NOT Bann...
Today’s episode looks at crypto in geopolitical context, focusing on: A follow-up on the ransomware surge, with experts suggesting that it’s not about crypto payments but about the “ransomware-as-a-service” distribution model A look at why a...
10 min
1105
Ransomware Is The Next Big Bitcoin FUD
Today on the Brief: China’s next digital yuan trial More Bitcoin ETF delays Standard Chartered to open crypto prime brokerage Our main discussion focuses on the rise of ransomware. NLW examines: The real reasons ransomware is on the rise ...
14 min
1106
More Crypto Regulation Is Likely Coming, but Ba...
Today’s episode includes a quick update on Marathon’s bitcoin mining about-face. Our main discussion focuses on the changing shape of crypto regulatory discussion in the U.S. While more regulation appears to be on the horizon, that regulation...
14 min
1107
Revisiting Paul Tudor Jones’ ‘Great Monetary In...
A year ago this month, legendary hedge fund manager Paul Tudor Jones released a paper about the “Great Monetary Inflation.” It set the entire narrative backdrop for the institutional move into bitcoin, and also revealed PTJ as a bitcoiner. This is...
27 min
1108
Networks vs. Governments: Could Crypto-Powered ...
What exists between a Facebook group and a formal organization? Right now, not much. But in the future, Balaji Srinivasan argues, blockchain-powered communities will be able to exert the power to help them develop the polities of the future. On this...
16 min
1109
Is the ‘Bitcoin Supercycle’ Theory Dead?
On this edition of “The Breakdown’s Weekly Recap,” NLW looks at what this cycle has taught us in terms of: Who is investing and how it’s influencing markets How market structure and narrative interact to shape price action Why stablecoins...
11 min
1110
Cathie Wood on Cathie Wood on Why Central Banks...
Today’s special edition of “The Breakdown'' is a replay of NLW’s fireside chat with ARK’s Cathie Wood that premiered yesterday as a closing keynote at Consensus 2021. In this conversation, they discuss: How macro going risk-off has impacted...
36 min
1111
‘Crypto Is Here to Stay’: Activist Investor Car...
Today on the Brief: PayPal to allow crypto withdrawals Regulatory rumblings from the SEC and FinCEN Bitcoin moving off exchanges again In our main discussion, NLW looks at the macro conversation around inflation, including: How concerns around...
15 min
1112
What's Really Behind China's Bitcoin Mining Ban?
Today on The Breakdown, NLW covers: More information about the Bitcoin Mining Council, and why its members say they’re strictly focused on energy transparency  A new, temporary crypto mining ban in Iran The latest on the China mining ban,...
13 min
1113
Bitcoin Mining Council: A “Green” Advance for B...
Yesterday, Michael Saylor and Elon Musk surprised the Bitcoin community when they announced a new “green” mining initiative that would see many of North America’s leading mining operators come together to develop common energy reporting...
20 min
1114
Hedge Fund Billionaire Ray Dalio Has Officially...
Today’s episode of “The Breakdown” is split into two parts. In part one, NLW recaps the latest out of China, including: Interpretations of Friday’s surprise targeting in a speech by the Vice Premier A weekend market crash, the second of the...
16 min
1115
The Unexplored Risks of a US Digital Dollar
For this week’s “Long Reads Sunday,” NLW reads: “” By David Z. Morris “” by Dante Disparte -- Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io -- Enjoying this content?  ...
16 min
1116
Why the Carlyle Group’s David Rubenstein Says G...
On this week’s “Breakdown Weekly Recap,” NLW explores U.S. regulatory FUD. He specifically looks at recent statements from the SEC’s Gary Gensler, as well as new Treasury Dept. policy that wants businesses to report crypto transactions of over...
11 min
1117
Why Bitcoiners Are Rooting for This Latest Chin...
This week has been China story after China story in the world of crypto. Increasingly, NLW argues, bitcoiners are getting sick of the baggage that Chinese mining and Chinese state involvement place on bitcoin and crypto as a whole. In this episode, he...
10 min
1118
The Real Story of the Crypto Crash Isn't about ...
In this episode of “The Breakdown,” NLW looks at the market structure dimension of the crypto crash, leveraging insights from Alameda Research, Willy Woo and many more. He explores:  Why the recent bull run was driven by derivatives more...
14 min
1119
The Bloodbath-ening: Is This the End of the Cry...
In one of the bloodiest days in recent crypto history, NLW looks at the reasons behind the wild market crash and explores whether it means an end to the bull market. As part of this, he explores five different categories of fear, uncertainty and doubt...
15 min
1120
No, China Didn’t Just Ban Crypto
On today’s episode, NLW provides an extended brief style episode, covering: Crypto’s allies on Capitol Hill Is “long bitcoin” the most crowded trade in the world? How much of the dip was just Tax Day? No, China didn’t just ban crypto ...
10 min
1121
Bitcoin Is the ‘No Heroes’ Asset
If you thought last week’s Elon intrigue was over, think again. This weekend saw an absolute showdown at the bitcoin corral, with Musk seriously losing his cool. In this episode, NLW explores the tussle from a number of dimensions: What it says...
18 min
1122
Bitcoin Is Much More Than a Speculative Asset
This week’s “Long Reads Sunday” is a reading of Alex Gladstein’s latest piece, “.” It follows the stories of people in three African nations who paint a very different picture from the rampant speculation you hear about in the news. ...
31 min
1123
Vitalik vs. Dog Money: Recapping a Crazy Week i...
On this edition of “The Breakdown’s Weekly Recap,” NLW discusses: Why the Elon Musk issue is really one of power and audience What the Colonial Pipeline attack reveals about our critical infrastructure  The debate around Vitalik Buterin...
12 min
1124
Why the DOJ, IRS Investigation Into Binance Cou...
Today on the Brief: More chaos from Elon Musk Hedge funds moving into DeFi? Tether reserve attestations Our main discussion looks at recent revelations of investigations by the Department of Justice and the Internal Revenue Service around Binance....
14 min
1125
Et tu, Elon? What’s Really Behind Tesla’s Bitco...
Crypto Twitter exploded last night when Elon Musk announced Tesla was backtracking and would no longer be accepting bitcoin as payment for cars. The debate came fast and furious about whether this was genuine environmental concern and, if so, how Elon...
14 min