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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851
Is 2023 the Year the US Gets Serious About Prot...
On this week’s “Long Reads Sunday,” it’s all about privacy. NLW reads: “” - Mark Lurie “” - Lia Holland, Eseohe Ojo   Enjoying this content?   SUBSCRIBE to the Podcast Apple:  Spotify: Google:   Join the...
17 min
852
What’s Next for NFTs?
On this edition of the “Weekly Recap,” NLW looks at a number of stories from the non-fungible token (NFT) industry this week that suggest where the industry might be headed, including Doodles’ acquisition of an animation studio and Porsche’s...
15 min
853
Commingling Customer Funds? Binance Under Scrut...
On today’s episode, NLW catches up on the continued fallout of Crypto 2022, including: Scrutiny around wallet balances that suggest Binance has had commingled user funds and company reserves around B-tokens  The latest from the FTX bankruptcy,...
15 min
854
‘We Want to Make Sure America Is the Place for ...
On today’s episode, NLW examines recent interviews with Republican congressional leaders including Representatives Patrick McHenry, Tom Emmer, Warren Davidson and French Hill, around the state of crypto in Washington, D.C. NLW argues that the key...
14 min
855
Here Comes Nuclear-Powered Bitcoin Mining
Today is a mining day on “The Breakdown” as NLW looks at: News of nuclear-powered bitcoin-mining coming to the U.S. A new report on the state of mining from Galaxy Digital  The impact of Kazakhstan’s miner exodus on the global bitcoin...
15 min
856
Up 40% YTD, Bitcoin Is 2023’s Best-Performing A...
On today’s episode of “The Breakdown,” NLW looks at bitcoin’s impressive January rally and discusses what’s driving it. Specifically, he explores claims of market manipulation versus simple mean reversion. Finally, he looks at whether it is...
15 min
857
Does Crypto Have a Banking Problem?
On today’s episode, NLW breaks down the latest news from the weekend, including: Signature Bank limiting services, and what it means for the industry as a whole U.S. government seizing $700 million of assets associated with Sam Bankman-Fried ...
15 min
858
The Future of Crypto Isn’t With Wall Street
On this week’s “Long Reads Sunday,” NLW reads: “” by Michael J. Casey “” by Daniel Kuhn  - Enjoying this content?   SUBSCRIBE to the Podcast Apple:  Spotify: Google:   Join the discussion:   Follow on...
13 min
859
What Davos Thinks of Crypto
On this edition of the “Weekly Recap,” NLW looks at the discussions around crypto and blockchain from the World Economic Forum’s annual gathering in Davos, Switzerland.  - Join the most important conversation in crypto and Web3 at Consensus...
14 min
860
Genesis Files for Chapter 11
After weeks, if not months, of speculation, Genesis has finally filed for Chapter 11 bankruptcy protection, citing more than $5.1 billion in liabilities. On today’s episode, NLW looks at the implications of the filing plus the battles to come. He...
16 min
861
Would a Genesis Bankruptcy Actually Be Good for...
Yesterday, news outlets started reporting that a prepackaged bankruptcy for DCG subsidiary Genesis was close to completion. On today’s episode, NLW looks at the community’s reaction on whether this would be a good or bad thing for the space. He...
16 min
862
Bitz Who Now? Department of Justice Takes Down ...
On today’s episode, NLW catches up on the latest on crypto crime and fall out, including: Disgraced 3AC founders’ attempt to build a new exchange with bankrupt CoinFLEX called GTX. Sam Bankman-Fried’s latest blog post arguing about how FTX.US...
17 min
863
Bitcoin at $21K: Bull Trap or Ooo Baby We're Back?
Bitcoin (and crypto more broadly) has been on a tear the last few days, but the question on everyone’s mind is: why? Is it a real, fundamentals-based movement? Does it reflect a changed macro setup for risk assets or just market structure and a...
15 min
864
The Legacy of Aaron Swartz 10 Years Later
On this edition of “Long Reads Sunday,” NLW reads:   - Stefan George  - the DeFi Edge - Patrick Campbell    Enjoying this content?   SUBSCRIBE to the Podcast Apple:  Spotify: Google:   Join the discussion: ...
15 min
865
The SEC Sues Gemini/Genesis as SBF Starts a Blog
On this edition of the “Weekly Recap,” NLW looks at the Securities and Exchange Commission lawsuit against Gemini and Genesis involving the Gemini Earn program. He also sums up the recent developments around FTX, including $5 billion of recovered...
14 min
866
How Big a Deal Was Binance’s Previous $1B BUSD ...
Today on “The Breakdown,” NLW catches up on some crypto cleanup stories from earlier in the week. He looks at community reactions to research uncovering that at times in 2020 and 2021 Binance peg BUSD was undercollateralized by as much as $1...
15 min
867
Will Negative Inflation Prompt a Shift in Fed P...
On today’s episode, NLW digs into December’s just-released CPI numbers. For the sixth month in a row, year-over-year inflation declined. For the first time in more than two years, month-over-month inflation declined. For many, this confirms a...
14 min
868
DCG Responds as Gemini Accuses Company of Fraud
Crypto 2023 – like Crypto 2022, but angrier. This week, Gemini co-CEO Cameron Winklevoss accused Genesis, DCG and DCG CEO Barry Silbert of fraud in a major escalation of their fight over frozen funds. Silbert and DCG, CoinDesk’s parent, responded...
20 min
869
The Fed’s Interest Rate Message Is Clear: Get t...
On today’s episode, NLW looks at the latest communiques from Federal Reserve officials, including comments by Atlanta Fed President Raphael Bostic and San Francisco Fed President Mary Daly, as well as a speech on Tuesday by Federal Reserve Chair...
16 min
870
The SEC and DOJ Are Reportedly Investigating DCG
On today’s episode, NLW catches up on: Why bitcoin’s price went up firmly above $17,000 The latest Binance concerns  Reports the Securities and Exchange Commission and Justice Department are investigating DCG’s internal transfers  ...
14 min
871
Where Bitcoin Mining Goes From Here
On this Long Reads Sunday, NLW reads: by Zack Voell  By George Kaloudis  By Daniel Kuhn  Enjoying this content?   SUBSCRIBE to the Podcast Apple:  Spotify: Google:   Join the discussion:   Follow on Twitter:...
16 min
872
Is Political Gridlock Good for Crypto?
On the first Weekly Recap of 2023, NLW hones in on the political impasse in Washington D.C. and explores whether a divided Congress (and a divided Republican party within Congress) might be good for crypto in a year that politicians are feeling...
15 min
873
The Crypto Reckoning Continues
NLW profiles another brutal week in the crypto computation and cleanup following the disasters of 2022.    He examines:   Celsius ex-CEO Alex Mashinsky sued by NYAG 3AC subpoenaed via Twitter Silvergate laying off 40%  Genesis...
15 min
874
The Fed Is Scared of Stock Market Animal Spirits
  In today's episode, NLW looks at the macro landscape that will set the tone for the markets in 2023. According to the minutes of the December Federal Open Markets Committee Meeting, released on Wednesday, the Federal Reserve is concerned about...
16 min
875
SBF Pleads Not Guilty; Trial Set for October
On today’s episode, NLW discusses Sam Bankman-Fried and FTX, including his bail hearing from December, the unusual request to keep his bail bond-backers private, and his not guilty plea from yesterday’s arraignment.  Enjoying this content?...
15 min