As the old saying goes: “First they ignore you, then they mock you, then they fight you, then you win.”&nbsp; Ten months ago, Goldman Sachs declared that “cryptocurrencies including bitcoin are not an asset class.” Today, CNBC broke the news Goldman is planning to release a full suite of bitcoin and crypto investment products.&nbsp; On this episode, NLW breaks down the larger macro context that got us from then to now and explains why, if you’re a wealthy client of Goldman, you might have some big questions to ask.&nbsp; -- Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins &amp; more. Get started at nexo.io -- Enjoying this content? &nbsp; SUBSCRIBE to the Podcast Apple:&nbsp;&nbsp; Spotify:&nbsp; Google:&nbsp; &nbsp; Follow on Twitter: NLW:  Breakdown:  &nbsp; The Breakdown is produced and distributed by&nbsp;

Goldman Sachs To Offer Bitcoin to Wealthy Clients, Completely Reversing Course

This episode is a replay of NLW’s conversation with Cathie Wood from October 2020. In it, they discuss: &nbsp;  Why she had conviction in Tesla before the market caught up&nbsp; Why her fund offered the first bitcoin investment opportunities to Wall Street Why it doesn’t hire traditional Wall Street analysts&nbsp; Why it gives away all research for free Why it shares the trades made in a completely open-source way ARK’s recent  white paper What the prospects are for innovation in 2021&nbsp;  Find our guest online:  Twitter:   Web:  &nbsp; This episode is a replay of NLW’s conversation with Cathie Wood from October 2020. In it, they discuss: &nbsp;  Why she had conviction in Tesla before the market caught up&nbsp; Why her fund offered the first bitcoin investment opportunities to Wall Street Why it doesn’t hire traditional Wall Street analysts&nbsp; Why it gives away all research for free Why it shares the trades made in a completely open-source way ARK’s recent  white paper What the prospects are for innovation in 2021&nbsp;  Find our guest online:  Twitter:   Web:

An Interview With Cathie Wood on Bitcoin, Tesla and Innovation Investing

Today on the Brief:  Sports and crypto come together WTF is going on in Turkey? Wyoming DAO law&nbsp;  Our main discussion: After years of CEO Jamie Dimon ragging on bitcoin, JPMorgan is reportedly set to offer a new actively managed bitcoin product. In this episode, NLW looks back at Dimon’s comments on BTC and how things have changed over time.&nbsp; -- Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins &amp; more. Get started at nexo.io -- Enjoying this content? &nbsp; SUBSCRIBE to the Podcast Apple:&nbsp; https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M= &nbsp; Follow on Twitter: NLW: https://twitter.com/nlw Breakdown:  &nbsp; The Breakdown is produced and distributed by CoinDesk.com

JPMorgan's Bitcoin Journey: From 'Worse Than Tulips' to 'Not My Cup of Tea' to New Product

On this edition of “The Breakdown’s Weekly Recap,” NLW looks at:  Why ETH should have had most of the attention The camps forming around dogecoin and why it’s likely to dump after “Saturday Night Live” A slew of massive institutional bitcoin news that flew under the radar  "Remy: Dogecoin Rap" (Dog Money), ReasonTV  -- Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins &amp; more. Get started at nexo.io -- Enjoying this content? &nbsp; SUBSCRIBE to the Podcast Apple:&nbsp; https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M= &nbsp; Follow on Twitter: NLW: https://twitter.com/nlw Breakdown:  &nbsp; The Breakdown is produced and distributed by CoinDesk.com

'My 401(k) is now my 401(k9)': 'My 401(k) is now my 401(k9)': Doge, SNL and Why This Was Quietly a Massive Week for Bitcoin

Today on the Brief:  Elon Musk saves an SNL flop with a dogecoin satellite&nbsp; Growing interest in Ethereum&nbsp; UBS explores offering crypto to wealthy clients  Our main discussion:The Wall Street Journal and Bloomberg are both running headlines about increasing consumer prices. For now, most pieces like these remain a healthy combination of spot data (in other words specific companies raising prices) and anecdotes versus aggregate data. That isn’t stopping a new inflation narrative from forming, however. Listen to find out what it means. -- Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins &amp; more. Get started at nexo.io -- Enjoying this content? &nbsp; SUBSCRIBE to the Podcast Apple:&nbsp; https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M= &nbsp; Follow on Twitter: NLW: https://twitter.com/nlw Breakdown:  &nbsp; The Breakdown is produced and distributed by CoinDesk.com

If Prices Keep Going Up, We Might Have to Start Calling It Inflation

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 bitcoin&nbsp; What was driving Elon’s about-face&nbsp; China and “green” mining&nbsp; Investing in technology innovation Why ARK is investing in Ethereum&nbsp; What role bitcoin plays in a world characterized by deflation rather than inflation  -- Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins &amp; more. Get started at nexo.io -- Enjoying this content? &nbsp; SUBSCRIBE to the Podcast Apple:&nbsp; https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M= &nbsp; Follow on Twitter: NLW: https://twitter.com/nlw Breakdown:  &nbsp; The Breakdown is produced and distributed by CoinDesk.com

Cathie Wood on Cathie Wood on Why Central Banks Will Add Bitcoin to their Balance Sheets

A reading of David Z. Morris’ piece for CoinDesk “”. &nbsp; -- Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins &amp; more. Get started at nexo.io -- Enjoying this content? &nbsp; SUBSCRIBE to the Podcast Apple:&nbsp; https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M= &nbsp; Follow on Twitter: NLW: https://twitter.com/nlw Breakdown:  &nbsp; The Breakdown is produced and distributed by CoinDesk.com

What a New Era of Big Government Could Mean for Bitcoin

An interview with a congressman followed by a congressional hearing on crypto signal policymakers are moving to the next phase of talks about regulating crypto.  Troubling comments in Congressman Bill Foster’s interview with Axios Upcoming committee hearing titled ominously “America on ‘FIRE:’ Will the Crypto Frenzy Lead to Financial Independence and Early Retirement or Financial Ruin?”  Foster has historically been a champion of the crypto market: He is a co-chairman of the Congressional Blockchain Caucus and was previously supportive of the future of crypto. However, in his recent Axios interview, his tone flipped, as he went as far as to suggest the need for a “cryptographic backdoor” to allow the court the ability to view or even reverse transactions. Is Foster’s new viewpoint indicative of a greater shift in policymakers’ attitude toward crypto regulation? Today’s House Committee on Financial Services hearing with a particularly colorful title is yet another signal for an upcoming regulatory push in crypto. The hearing’s agenda includes a discussion of bad actors on decentralized currency exchanges, or DEX, including a reference to Mark Cuban’s recent loss of money in a DeFi “rug pull.” With an expert witness lineup, including Jim Cramer of “Mad Money,” Alexis Goldstein of the Open Markets Institute and Peter Van Valkenburgh of CoinCenter, there is quite a mixed set of viewpoints on the current state and future of crypto. -- Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins &amp; more. Get started at https://nexo.io/ -- Enjoying this content? &nbsp; SUBSCRIBE to the Podcast Apple:&nbsp; https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M= &nbsp; Follow on Twitter: NLW: https://twitter.com/nlw Breakdown:  &nbsp; The Breakdown is produced and distributed by CoinDesk.com

A "Crypto Frenzy"? Today's Congressional Hearing Puts Bitcoin and DeFi in the Hot Seat

First, on the Brief:  U.S. growth last quarter performing under economists’ expectations Robinhood's subdued IPO debut "Wild amounts" of capital going into crypto  In the main discussion, NLW addresses the specifics, reactions and potential impacts of a crypto provision within the Biden administration’s big infrastructure bill. A draft copy of the provision aims to raise $28 billion via a crypto tax, imposing new reporting requirements for a broad swath of crypto intermediaries. Potentially, intermediaries from wallet developers to miners will be impacted by the provision. If this draft of the bill makes it to a vote, how will a tax scheme impact crypto development and adoption? Is this provision just a messy step in a positive U.S. government acceptance of crypto or a dangerous damping factor on progress? Enjoying this content? &nbsp; SUBSCRIBE to the Podcast Apple:&nbsp;  Spotify:  Google:  &nbsp; Follow on Twitter: NLW:  Breakdown:&nbsp; The Breakdown is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: rarrarorro/iStock/Getty Images, modified by CoinDesk.

The Senate Shoves a Dangerous, Last-Minute $28B Crypto Provision Into the Infrastructure Bill

The infrastructure bill-related surprise in the U.S. Congress came in the form of a competing amendment with a short list of exemptions from the original language. On this episode of “The Breakdown,” NLW addresses the latest updates on the bill, including:  White House support of the  Proof-of-work prioritization The future of the bill  The White House claimed support of the Portman, Warner and Sinema competing amendment, citing its ability to strengthen tax compliance in the crypto industry. Crypto advocates have been quick to call out the intentional gaps in the amendment’s language as well as the clear lack of technological understanding. The proposed amendment specifically excludes proof-of-work mining from the reporting requirements, a surprising stance compounded by the fact that the language itself seems to misunderstand the difference between validation and mining. Some Bitcoin maximalists rejoice at their preferential treatment over proof-of-stake networks like Ethereum, but it remains unclear whether this amendment would protect even Bitcoin in the long term. If the amendment were passed, the bill itself would not go into effect until 2023. Organizations like  are creating resources for crypto allies to contact their senators. If the amendment passes, how will crypto adapt?&nbsp; Enjoying this content? &nbsp; SUBSCRIBE to the Podcast Apple:&nbsp;  Spotify:  Google:  &nbsp; Follow on Twitter: NLW:  Breakdown:&nbsp; The Breakdown is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Razor Red” by Sam Barsh. Image credit: Alex Wong/Getty Images News, modified by CoinDesk.

White House Unveiled as Puppet Master as New Amendment Threatens Crypto Industry

On today’s episode, NLW is joined by . Raoul is the founder and CEO of Global Macro Investor and Real Vision, whose Real Vision Crypto community has raced to more than 100,000 after launching earlier this year.&nbsp; &nbsp; They discuss:  The U.S. infrastructure bill and the increase in regulatory pressure The current state of inflation and why markets disagree about its impact Why transformation and technological change are the main forces shaping markets and society&nbsp; Why DeFi is particularly threatening to central banks Why Janet Yellen is the embodiment of the central bank and the federal government coming together&nbsp; The real future of NFTs&nbsp;  Enjoying this content? &nbsp; SUBSCRIBE to the Podcast Apple:&nbsp;  Spotify:  Google:  &nbsp; Follow on Twitter: NLW:  Breakdown:&nbsp; The Breakdown is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: Nuthawut Somsuk/iStock/Getty Images modified by CoinDesk.

'Crypto IS Macro Now': Raoul Pal on Bitcoin, DeFi and the Transformation of Power

Late Sunday evening, bitcoin pushed above $50,000 for the first time in three months. Overall BTC is up 46% in the last 30 days. NLW explores arguments that this move has been spot driven and connected to institutions and whales. He also looks at the potential implications of the Federal Reserve’s Jackson Hole meeting later this week.&nbsp; In the second part of the show, he looks at the news that has Crypto Twitter on fire: Visa bought a CryptoPunk. The purchase, executed for around $150,000, is being maligned by some as a marketing stunt, while others see it as heralding a new era of institutional purchases of non-fungible tokens. NLW looks at both sides and ultimately argues that neither is exactly correct. Instead, it seems to be about inserting Visa’s business into a new digital market.&nbsp; Enjoying this content? &nbsp; SUBSCRIBE to the Podcast Apple:&nbsp;  Spotify:  Google:  &nbsp; Follow on Twitter: NLW:  Breakdown:&nbsp; “The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: Alexi Rosenfeld/Getty Images Entertainment, modified by CoinDesk.

Visa Buys a Punk as Bitcoin Returns to $50K

On today’s episode, NLW breaks down a slew of stories that reflect different aspects of the crypto industry:  Billionaire John Paulson doesn’t like crypto FTX US acquires LedgerX Syndicate DAO raises $20 million Layer 1 battles with Ethereum and Solana&nbsp; Vintage Bitcoin-based “Rare Pepes” get repurposed and sold on OpenSea Treasury trying to add MORE rules for crypto reporting&nbsp;  Enjoying this content? &nbsp; SUBSCRIBE to the Podcast Apple:&nbsp;  Spotify:  Google:  &nbsp; Join the discussion:  &nbsp; Follow on Twitter: NLW:  Breakdown:&nbsp; “The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: Malte Mueller/Getty Images, modified by CoinDesk.

DAOs, NFTs and Crypto Derivatives Win Attention as Billionaire Paulson Calls Crypto ‘Worthless’

This episode is sponsored by . Ah, Jamie Dimon. One of the longest duration skeptics of bitcoin, and one of the most consistently wrong from a market perspective. Yesterday, the JPMorgan Chase CEO added new material to his anti-bitcoin cannon and Bitcoin Twitter was extremely quick to respond. Indeed, part of that response was colored by general bullishness as bitcoin experienced another surge up past $57,000. NLW explores Bitcoin Twitter’s reaction to Dimon’s comments and looks at why many think the current rally is being driven by institutions, not retail.&nbsp; , the institutional-grade platform for bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at . Enjoying this content? &nbsp; SUBSCRIBE to the Podcast Apple:&nbsp;  Spotify:  Google:  &nbsp; Join the discussion:  &nbsp; Follow on Twitter: NLW:  Breakdown:&nbsp; “The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Tidal Wave” by BRASKO. Image credit: Justin Sullivan/Getty Images News, modified by CoinDesk.

Who Cares What Jamie Dimon Thinks of Bitcoin?

This episode is sponsored by . On the final episode of “The Breakdown’s” “End of Year Extravaganza,” NLW is joined by Jason Yanowitz and Michael Ippolito, the founders of Blockworks, a growing media company focused on the stories shaping the crypto space.&nbsp; Find our guests on Twitter:   &nbsp; Enjoying this content? &nbsp; SUBSCRIBE to the Podcast Apple:&nbsp;  Spotify:  Google:  &nbsp; Join the discussion:  &nbsp; Follow on Twitter: NLW:  Breakdown:&nbsp; &nbsp; , the institutional-grade platform for bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at . - “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our holiday theme music is “Spike The Eggnog” by Two Dudes. The music you heard today behind our sponsor is “Dark Crazed Cap” by Isaac Joel. Image credit: chekyfoto/iStock/Getty Images Plus, modified by CoinDesk.

Jason Yanowitz and Michael Ippolito on the Most Important Stories of 2021

This episode is sponsored by ,  and . On today’s episode of “The Breakdown,” NLW looks at the latest news out of NFTs, including:  Samsung’s NFT TV announcement OpenSea’s fundraise at a $13.3 billion valuation Bored Apes flippen CryptoPunks A South Korean presidential candidate is giving away NFTs to donors&nbsp;  Enjoying this content? &nbsp; SUBSCRIBE to the Podcast Apple:&nbsp;  Spotify:  Google:  &nbsp; Join the discussion:  &nbsp; Follow on Twitter: NLW:  Breakdown:&nbsp; -  is a powerful, all-in-one crypto platform where you can securely store your crypto. Invest, borrow, exchange and earn up to 17% APR on Bitcoin and 20+ other top coins. Insured for $375M. Audited in real-time by Armanino. Rated excellent on Trustpilot. Get started today at . -  is proud to sponsor The Breakdown. Join 1M+ users and Conquer Crypto with Abra, a simple and secure app where you can trade 110+ cryptocurrencies, get 0% interest loans using crypto as collateral, and earn interest with up to 14% APY on stablecoins and 8.15% APY on Bitcoin. Visit  to get started. -  is the safe, regulated way to buy Bitcoin, ETH, SOL and other digital assets. Trade crypto with up to 85% lower fees than top competitors and trade ETH and SOL NFTs with no gas fees and subsidized gas on withdrawals. Sign up at  today. - “The Breakdown '' is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell and Michele Musso, research by Scott Hill and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Time” by OBOY. Image credit: Gesrey/iStock/Getty Images, modified by CoinDesk. Join the discussion at . &nbsp;

We’ve Come a Long Way Since ‘What the Hell’s an NFT?’

On this week’s “Long Reads Sunday,” NLW reads David Z. Morris’ “.” -  is a powerful, all-in-one crypto platform where you can securely store your crypto. Invest, borrow, exchange and earn up to 17% APR on Bitcoin and 20+ other top coins. Insured for $375M. Audited in real-time by Armanino. Rated excellent on Trustpilot. Get started today at . -  is proud to sponsor The Breakdown. Join 1M+ users and Conquer Crypto with Abra, a simple and secure app where you can trade 110+ cryptocurrencies, get 0% interest loans using crypto as collateral, and earn interest with up to 14% APY on stablecoins and 8.15% APY on Bitcoin. Visit  to get started. -  is the safe, regulated way to buy Bitcoin, ETH, SOL and other digital assets. Trade crypto with up to 85% lower fees than top competitors and trade ETH and SOL NFTs with no gas fees and subsidized gas on withdrawals. Sign up at  today. - “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Time” by OBOY. Image credit: George Frey/Bloomberg/Getty Images, modified by CoinDesk. Join the discussion at . On this week’s “Long Reads Sunday,” NLW reads David Z. Morris’ “.” -  is a powerful, all-in-one crypto platform where you can securely store your crypto. Invest, borrow, exchange and earn up to 17% APR on Bitcoin and 20+ other top coins. Insured for $375M. Audited in real-time by Armanino. Rated excellent on Trustpilot. Get started today at . -  is proud to sponsor The Breakdown. Join 1M+ users and Conquer Crypto with Abra, a simple and secure app where you can trade 110+ cryptocurrencies, get 0% interest loans using crypto as collateral, and earn interest with up to 14% APY on stablecoins and 8.15% APY on Bitcoin. Visit  to get started. -  is the safe, regulated way to buy Bitcoin, ETH, SOL and other digital assets. Trade crypto with up to 85% lower fees than top competitors and trade ETH and SOL NFTs with no gas fees and subsidized gas on withdrawals. Sign up at  today. - Enjoying this content? &nbsp; SUBSCRIBE to the Podcast Apple:&nbsp;  Spotify:  Google:  &nbsp; Join the discussion:  &nbsp; Follow on Twitter: NLW:  Breakdown:&nbsp; &nbsp; “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Time” by OBOY. Image credit: George Frey/Bloomberg/Getty Images, modified by CoinDesk. Join the discussion at .

What Facebook’s Patents Tell Us About the Fight for the Soul of the Metaverse

Today on “The Breakdown,” NLW looks at what the first month of the year taught us about what to expect in 2022. Overall, he argues that the most important megatrend was the shift from risk-off to risk-on as the U.S. Federal Reserve looks towards quantitative tightening later in the year.&nbsp; He looks at:  Crypto markets down Stock market down&nbsp; Venture investment into crypto hit $4.4 billion for the month&nbsp; Regulatory happenings and why the crypto lobby is more prepared than ever  &nbsp; -  is a powerful, all-in-one crypto platform where you can securely store your crypto. Invest, borrow, exchange and earn up to 18% APR on Bitcoin and 20+ other top coins. Insured for $375M. Audited in real-time by Armanino. Rated excellent on Trustpilot. Get started today at . - ™ is the next-gen cold storage wallet for your crypto. The sleek, metal Arculus Key™ Card authenticates with the Arculus Wallet™ App, providing a simpler, safer, and more secure solution to store, send, receive, buy, and swap your crypto. Buy now at . -  is the safe, regulated way to buy bitcoin, ETH, SOL and other digital assets. Trade crypto with up to 85% lower fees than top competitors and trade ETH and SOL NFTs with no gas fees and subsidized gas on withdrawals. Sign up at  today. - Enjoying this content? &nbsp; SUBSCRIBE to the Podcast Apple:&nbsp;  Spotify:  Google:  &nbsp; Join the discussion:  &nbsp; Follow on Twitter: NLW:  Breakdown:&nbsp; “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Time” by OBOY. Image credit: Jackie Niam/iStock/Getty Images Plus, modified by CoinDesk. Join the discussion at .

Bullish or Bearish? 2022 Markets Started Rough, but It Wasn't Just Crypto

&nbsp; This episode is sponsored by ,  and .&nbsp; On today’s episode, NLW previews the upcoming Fed meeting through the lens of a CNBC interview with billionaire hedge funder Paul Tudor Jones. Jones characterized this as one of the most challenging times for the Fed in its history and said that it’s an unbelievably bad time for financial assets. The founder of Tudor Investment also discusses the reasons why he’s long-term bullish on crypto, which include an influx of human capital.&nbsp; -  is a secure crypto exchange and crypto lending platform. Buy 40+ hot coins with your bank card in seconds and swap between exclusive pairs for cashback. Earn up to 17% interest on your idle crypto assets and borrow against them for instant liquidity. Simple and secure. Head over to  and get started now.&nbsp; -  is a blockchain for a world reimagined. Through simple, secure, and scalable technology, NEAR empowers millions to invent and explore new experiences. Business, creativity, and community are being reimagined for a more sustainable and inclusive future. Find out more at . -  is the safe, regulated way to buy Bitcoin, ETH, SOL and other digital assets. Trade crypto with up to 85% lower fees than top competitors and trade ETH and SOL NFTs with no gas fees and subsidized gas on withdrawals. Sign up at  today. - , the industry’s most influential event, is happening June 9–12 in Austin, Texas. If you’re looking to immerse yourself in the fast-moving world of crypto, Web 3 and NFTs, this is the festival experience for you. Use code BREAKDOWN to get 15% off your pass at . - Enjoying this content? &nbsp; SUBSCRIBE to the Podcast Apple:&nbsp;  Spotify:  Google:  &nbsp; Join the discussion:  &nbsp; Follow on Twitter: NLW:  Breakdown:&nbsp; - “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsors is “Catnip” by Famous Cats and “I Don't Know How To Explain It” by Aaron Sprinkle. Image credit: Kevin Mazur/Getty Images, modified by CoinDesk. Join the discussion at .&nbsp;

Paul Tudor Jones: 'It's Hard Not to Want to Be Long Crypto Because of the Intellectual Capital'

This episode is sponsored by ,  and .&nbsp; &nbsp; Last week, corporate executives from Tesla’s Elon Musk to BlackRock’s Larry Fink discussed what they see as a coming recession. JPMorgan Chase CEO Jamie Dimon called the coming economic environment a “hurricane.” At the same time, last week’s jobs report was a surprise, as payrolls grew more than economists expected. On today’s show, NLW looks at the two sides of the recession debate.&nbsp; -  is an all-in-one platform where you can buy crypto with a bank card and earn up to 16% interest on your assets. On the platform you can also swap 300+ market pairs and borrow against your crypto from 0% APR. Sign up at  by June 30 and receive up to $150 in BTC. -  is a blockchain for a world reimagined. Through simple, secure, and scalable technology, NEAR empowers millions to invent and explore new experiences. Business, creativity, and community are being reimagined for a more sustainable and inclusive future. Find out more at . -  is the safe, regulated way to buy Bitcoin, ETH, SOL and other digital assets. Trade crypto with up to 85% lower fees than top competitors and trade ETH and SOL NFTs with no gas fees and subsidized gas on withdrawals. Sign up at  today. - , the industry’s most influential event, is happening June 9–12 in Austin, Texas. If you’re looking to immerse yourself in the fast-moving world of crypto, Web 3 and NFTs, this is the festival experience for you. Use code BREAKDOWN to get 15% off your pass at . - Enjoying this content? &nbsp; SUBSCRIBE to the Podcast Apple:&nbsp;  Spotify:  Google:  &nbsp; Join the discussion:  &nbsp; Follow on Twitter: NLW:  Breakdown:&nbsp; &nbsp; - “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsors is “Catnip” by Famous Cats and “I Don't Know How To Explain It” by Aaron Sprinkle. Image credit: Malte Mueller/Getty Images, modified by CoinDesk. Join the discussion at .

So, Are We Headed Into Recession or Not?

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 heading into August. The key question he explores is whether we’re in a “sucker’s rally” or the worst really is behind us.&nbsp; -  is a security-first platform where you can buy, exchange and borrow against your crypto. The company safeguards your crypto by relying on five key fundamentals including real-time auditing and insurance on custodial assets. Learn more at . -  is the blockchain data platform. We provide data, software, services and research to government agencies, exchanges, financial institutions and insurance and cybersecurity companies. Our data powers investigation, compliance and market intelligence software that has been used to solve some of the world’s most high-profile criminal cases. For more information, visit . -  is the safe, regulated way to buy Bitcoin, ETH, SOL and other digital assets. Trade crypto with up to 85% lower fees than top competitors and trade ETH and SOL NFTs with no gas fees and subsidized gas on withdrawals. Sign up at  today. - “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsors is “The Now” by Aaron Sprinkle. Image credit: sesame/Getty Images, modified by CoinDesk. Join the discussion at .

Sucker’s Rally or the Worst Is Over?

This episode is sponsored by ,  and . &nbsp; On today’s episode, NLW looks at a set of three reports around crypto out of the Treasury Department as well as examines the White House’s just-released framework for digital assets. He argues there are big, important questions that remain unaddressed. -  is a security-first platform where you can buy, exchange and borrow against your crypto. The company ensures the safety of your funds by employing five key fundamentals including real-time auditing and recently increased $775 million insurance on custodial assets. Learn more at . -  is the blockchain data platform. We provide data, software, services and research to government agencies, exchanges, financial institutions and insurance and cybersecurity companies. Our data powers investigation, compliance and market intelligence software that has been used to solve some of the world’s most high-profile criminal cases. For more information, visit . -  is the safe, regulated way to buy Bitcoin, ETH, SOL and other digital assets. Trade crypto with up to 85% lower fees than top competitors and trade ETH and SOL NFTs with no gas fees and subsidized gas on withdrawals. Sign up at  today. -  by CoinDesk facilitates capital flow and market growth by connecting the digital economy with traditional finance through the presenter’s mainstage, capital allocation meeting rooms and sponsor expo floor. Use code BREAKDOWN20 for 20% off the General Pass. Learn more and register at . - “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsors today is “Razor Red” by Sam Barsh and “The Life We Had” by Moments. Image credit: narvikk/Getty Images, modified by CoinDesk. Join the discussion at .

White House ‘Comprehensive Framework for Responsible Development of Digital Assets’ Is Neither Comprehensive nor a Framework

This episode is sponsored by ,  and . &nbsp; Ah Sam, will we ever be able to escape you? This week, “main character syndrome” came roaring back into fashion as Sam Bankman-Fried broke his silence with a string of interviews culminating in appearances with Andrew Ross Sorkin at the New York Times DealBook Summit and on “Good Morning America” with George Stephanopoulos. NLW breaks down what SBF said, and how the community is reacting.&nbsp; -  is a security-first platform where you can buy, exchange and borrow against your crypto. The company ensures the safety of your funds and keeps innovating with products like the Nexo Wallet - a non-custodial smart wallet that allows you to create your Web3 identity. Get early access at . - , the sole issuer of the trusted and reliable stablecoin USDC, is our sponsor for today’s show. USDC is a fast, cost-effective solution for global payments at internet speeds. Learn how businesses are taking advantage of these opportunities at Circle’s . - , the secure, trusted digital asset exchange, is our sponsor for today's show. Kraken makes it easy to instantly buy 185+ cryptocurrencies with fast, flexible funding options. Your account is covered by regular Proof of Reserves audits, industry-leading security and award-winning Client Engagement, available 24/7. Sign up and trade today at . - “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsors today is "Back To The End" by Strength To Last. Image credit: Michael M. Santiago/Getty Images, modified by CoinDesk. Join the discussion at .

Will Sam’s Frenetic Media Tour Save Him or Damn Him?

This episode is sponsored by ,  and . &nbsp; On this edition of the “Weekly Recap,” NLW catches up on the macro landscape, including recapping Federal Reserve Chair Jerome Powell’s speech on Wednesday and how the jobs report released Friday might undermine it as a market signal.&nbsp; -  is a security-first platform where you can buy, exchange and borrow against your crypto. The company ensures the safety of your funds and keeps innovating with products like the Nexo Wallet - a non-custodial smart wallet that allows you to create your Web3 identity. Get early access at . - , the sole issuer of the trusted and reliable stablecoin USDC, is our sponsor for today’s show. USDC is a fast, cost-effective solution for global payments at internet speeds. Learn how businesses are taking advantage of these opportunities at Circle’s . - , the secure, trusted digital asset exchange, is our sponsor for today's show. Kraken makes it easy to instantly buy 185+ cryptocurrencies with fast, flexible funding options. Your account is covered by regular Proof of Reserves audits, industry-leading security and award-winning Client Engagement, available 24/7. Sign up and trade today at . - “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsors today is "Back To The End" by Strength To Last. Image credit: ryasick/Getty Images, modified by CoinDesk. Join the discussion at .

Market Whiplash as Jobs Report Undermines Powell’s Less Hawkish Speech

This episode is sponsored by , ,  and the . &nbsp; In a shocking turn of events, Sam Bankman-Fried was arrested on Monday, Dec. 12 by Bahamian authorities at the request of the U.S. Southern District of New York. On today’s episode, NLW covers the charges as well as reviews the SEC and CFTC complaints.&nbsp; -  is a security-first platform where you can buy, exchange and borrow against your crypto. The company ensures the safety of your funds and keeps innovating with products like the Nexo Wallet - a non-custodial smart wallet that allows you to create your Web3 identity. Get early access at . - , the sole issuer of the trusted and reliable stablecoin USDC, is our sponsor for today’s show. USDC is a fast, cost-effective solution for global payments at internet speeds. Learn how businesses are taking advantage of these opportunities at Circle’s . - , the secure, trusted digital asset exchange, is our sponsor for today's show. Kraken makes it easy to instantly buy 185+ cryptocurrencies with fast, flexible funding options. Your account is covered by regular Proof of Reserves audits, industry-leading security and award-winning Client Engagement, available 24/7. Sign up and trade today at . - : Whether it’s breaking down market volatility or analyzing the latest development, come for the latest market insights from our in-house trading professionals and renowned experts from across the industry. Stay for the occasional rap from host Alex Thorn. Check out the latest episodes here:  - “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsors today is "Back To The End" by Strength To Last. Image credit: Catherine Falls Commercial/Getty Images, modified by CoinDesk. Join the discussion at .

Sam Bankman-Fried Arrested for Wire Fraud and Conspiracy to Defraud the United States

For the last week, the Bitcoin community has been locked in fierce debate around Ordinal Inscriptions, a type of Bitcoin-native NFT that allows people to associate data like JPEGs with individual sats. Some find it an interesting, novel experiment. Others – including at least one core dev – think they should be censored as an illegitimate usage of the Bitcoin blockchain. NLW breaks down the debate(s).&nbsp; &nbsp; Enjoying this content? &nbsp; SUBSCRIBE to the Podcast Apple:&nbsp;  Spotify:  Google:  &nbsp; Join the discussion:  &nbsp; Follow on Twitter: NLW:  Breakdown:&nbsp; - Join the most important conversation in crypto and Web3 at Consensus 2023, happening April 26–28 in Austin, Texas. Come and immerse yourself in all that Web3, crypto, blockchain and the metaverse have to offer. Use code BREAKDOWN to get 15% off your pass. Visit . - “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsor today is “Swoon” by Falls. Image credit: Takoyaki Tech/Getty Images, modified by CoinDesk. Join the discussion at .

A Primer on the Debate Around Ordinal Inscriptions, aka Bitcoin NFTs

On this edition of the “Weekly Recap,” NLW looks at some followup stories from the shutdown of Signature Bank last month, as well as the emerging trend of real-world asset tokenization.&nbsp; Enjoying this content? &nbsp; SUBSCRIBE to the Podcast Apple:&nbsp;  Spotify:  Google:  &nbsp; Join the discussion:  &nbsp; Follow on Twitter: NLW:  Breakdown:&nbsp; &nbsp; “The Breakdown” is written, produced and narrated by Nathaniel Whittemore aka NLW, with editing by  and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsor today is “Foothill Blvd” by Sam Barsh.Join the discussion at . &nbsp;

Are Real-World Assets (RWA) the Next Big Crypto Narrative?

The crypto industry is officially bringing the fight to regulators. Coinbase has filed a motion to dismiss the SEC's lawsuit against them, while the Blockchain Association is arguing that SEC Chair Gary Gensler should recuse himself from all crypto enforcement actions.&nbsp; Enjoying this content?   SUBSCRIBE to the Podcast: https://pod.link/1438693620   Watch on YouTube: https://www.youtube.com/nathanielwhittemorecrypto   Subscribeto the newsletter: https://breakdown.beehiiv.com/   Join the discussion: https://discord.gg/VrKRrfKCz8   Follow on Twitter:   NLW: https://twitter.com/nlw   Breakdown: https://twitter.com/BreakdownNLW

Crypto Goes On Offense as the Legal Tide Begins to Turn

As the crypto industry takes the fight to the SEC, a reading of  Enjoying this content?   SUBSCRIBE to the Podcast: https://pod.link/1438693620   Watch on YouTube: https://www.youtube.com/nathanielwhittemorecrypto   Subscribeto the newsletter: https://breakdown.beehiiv.com/   Join the discussion: https://discord.gg/VrKRrfKCz8   Follow on Twitter:   NLW: https://twitter.com/nlw   Breakdown: https://twitter.com/BreakdownNLW

The Failure of Gary Gensler

Today on The Breakdown, NLW continues coverage of the crypto industry's growing push back against the SEC and overreaching politicians. The show examines the SEC's price-shocking claim on Friday that ETF applications were inadequate, as well as a new motion to dismiss an SEC lawsuit from Bittrex.&nbsp; Enjoying this content?   SUBSCRIBE to the Podcast: https://pod.link/1438693620   Watch on YouTube: https://www.youtube.com/nathanielwhittemorecrypto   Subscribeto the newsletter: https://breakdown.beehiiv.com/   Join the discussion: https://discord.gg/VrKRrfKCz8   Follow on Twitter:   NLW: https://twitter.com/nlw   Breakdown: https://twitter.com/BreakdownNLW

Crypto Continues Its Pushback on Washington D.C.

On the eve of the July 4th holiday, Gemini's Cameron Winklevoss published an open letter accusing Barry Silbert and DCG of fraud and demanding they accept terms or face litigation. NLW covers the letter and the community's reaction.&nbsp; Enjoying this content?   SUBSCRIBE to the Podcast: https://pod.link/1438693620   Watch on YouTube: https://www.youtube.com/nathanielwhittemorecrypto   Subscribeto the newsletter: https://breakdown.beehiiv.com/   Join the discussion: https://discord.gg/VrKRrfKCz8   Follow on Twitter:   NLW: https://twitter.com/nlw   Breakdown: https://twitter.com/BreakdownNLW

Gemini's Furious Open Letter Threatens to Sue DCG and Barry Silbert

On Wednesday, July 5th, BlackRock CEO Larry Fink gave an interview on Fox that made clear that the Bitcoin ETF initiative was coming all the way from the top. NLW analyses the community reaction and argues that it's all even more significant than the hype suggests.&nbsp; Enjoying this content?   SUBSCRIBE to the Podcast: https://pod.link/1438693620   Watch on YouTube: https://www.youtube.com/nathanielwhittemorecrypto   Subscribeto the newsletter: https://breakdown.beehiiv.com/   Join the discussion: https://discord.gg/VrKRrfKCz8   Follow on Twitter:   NLW: https://twitter.com/nlw   Breakdown: https://twitter.com/BreakdownNLW

BlackRock's Larry Fink Gives a Laser-Eyed Bitcoin Interview

Fortune dropped a bombshell on Thursday, reporting that numerous executives had left Binance in a very short period of time. While all those execs tweeted that there was nothing conspiratorial or scandalous in their departures, the community isn't convinced.&nbsp; &nbsp; Enjoying this content?   SUBSCRIBE to the Podcast: https://pod.link/1438693620   Watch on YouTube: https://www.youtube.com/nathanielwhittemorecrypto   Subscribeto the newsletter: https://breakdown.beehiiv.com/   Join the discussion: https://discord.gg/VrKRrfKCz8   Follow on Twitter:   NLW: https://twitter.com/nlw   Breakdown: https://twitter.com/BreakdownNLW

Binance Execs Race for the Exits

So much for amicable resolution. After publically threatening a lawsuit earlier in the week, Gemini and their co-CEO Winklevoss twins have filed a lawsuit against DCG and Barry Silbert personally around the Genesis bankruptcy and their accusations of fraud.&nbsp; Enjoying this content?   SUBSCRIBE to the Podcast: https://pod.link/1438693620   Watch on YouTube: https://www.youtube.com/nathanielwhittemorecrypto   Subscribeto the newsletter: https://breakdown.beehiiv.com/   Join the discussion: https://discord.gg/VrKRrfKCz8   Follow on Twitter:   NLW: https://twitter.com/nlw   Breakdown: https://twitter.com/BreakdownNLW

Lawsuit Time! Winklevoss and Gemini Sue DCG and Barry Silbert

A reading of Alex Kruger's thread:  Full report from Asgard Markets  Enjoying this content?   SUBSCRIBE to the Podcast: https://pod.link/1438693620   Watch on YouTube: https://www.youtube.com/nathanielwhittemorecrypto   Subscribeto the newsletter: https://breakdown.beehiiv.com/   Join the discussion: https://discord.gg/VrKRrfKCz8   Follow on Twitter:   NLW: https://twitter.com/nlw   Breakdown: https://twitter.com/BreakdownNLW

Why the Recession Conventional Wisdom is Wrong

Late on Friday, the SEC responded to Coinbase's motion to dismiss the SEC's lawsuit against them. In many ways it's just a rehashing of arguments they've previously made, but the crypto legal core doesn't seem impressed with the SEC's arguments (or caselaw precedent).&nbsp; Enjoying this content?   SUBSCRIBE to the Podcast: https://pod.link/1438693620   Watch on YouTube: https://www.youtube.com/nathanielwhittemorecrypto   Subscribeto the newsletter: https://breakdown.beehiiv.com/   Join the discussion: https://discord.gg/VrKRrfKCz8   Follow on Twitter:   NLW: https://twitter.com/nlw   Breakdown: https://twitter.com/BreakdownNLW

Lawyers See Weakness in SEC's Response to Coinbase

NLW covers the latest in the Prometheum saga as Senator Tommy Tuberville and a handful of others have sent a letter to SEC Chair Gary Gensler and others asking for an investigation around Prometheum's recent Congressional testimony and their alleged ties to the Chinese Communist Party. Also, is "dox to earn" the new narrative?&nbsp; Enjoying this content?   SUBSCRIBE to the Podcast: https://pod.link/1438693620   Watch on YouTube: https://www.youtube.com/nathanielwhittemorecrypto   Subscribeto the newsletter: https://breakdown.beehiiv.com/   Join the discussion: https://discord.gg/VrKRrfKCz8   Follow on Twitter:   NLW: https://twitter.com/nlw   Breakdown: https://twitter.com/BreakdownNLW

Senators Question Prometheum's Ties to CCP

As week (one million, it seems) of the COVID-19 lockdown plods on, many are wondering what the economy will look like on the other side. Ryan Selkis is the CEO and founder of Messari. He was one of the earliest voices in crypto to sound the alarm on the potential impact of COVID-19 not only on the health system but on the economy.&nbsp; In this episode of The Breakdown, Ryan joins @NLW to discuss:  Why the markets right now represent an economic and psychological relief rally What it takes to reopen the economy&nbsp; Why voluntary, privacy preserving contact tracing is part of the solution Why crypto has performed largely as Ryan expected  &nbsp; &nbsp;

What the Economy Will Look Like 6 Months From Now, Feat. Ryan Selkis

Today on the Brief:&nbsp;  Was Monday’s stock rally overdone?&nbsp; Lebanon to launch digital currency 3 reasons BTC has rallied 60%+ in two months  Our main discussion: Stan Druckenmiller, Bitcoin Bull.&nbsp; A few months ago, Stan Druckenmiller told CNBC that he could imagine inflation of 5%–10%. Yesterday, he returned to the network to discuss why bitcoin had captured his attention as a potential hedge.

Legendary Investor Stan Druckenmiller Turns Bitcoin Bull

This week, a collective of foul-mouthed internet memers took down some of Wall Street’s best-known hedge funds. In today’s episode, NLW looks at:  The historical context of how the Great Financial Crisis set the stage for WallStreetBets How WSB gained infamy during the COVID-19 crisis by correctly predicting the market’s rebound while other investors remained bearish&nbsp; Why WSB started going after short-sellers, particularly around GameStop (GME) How WSB forced a short squeeze that required Melvin Capital to call in nearly $3B of emergency capital&nbsp; Why Robinhood forcing users to stop buying GameStop and other related assets will go down as an inflection point in the history of capital markets  -- Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins &amp; more. Get started at nexo.io -- Enjoying this content? SUBSCRIBE to the Podcast Apple:  Spotify:  Google:  Follow on Twitter: NLW:  Breakdown:  The Breakdown is produced and distributed by CoinDesk.com

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