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    Business

    The Breakdown

    The Breakdown dives into the deepest topics in crypto, blockchain, and the macro forces shaping markets and power structures. Each episode breaks down complex ideas into clear, grounded analysis — separating signal from noise across crypto, finance, and geopolitics.

    Hosted by David Canellis, The Breakdown features explainers, interviews, and conversations with the people building, regulating, and challenging the financial system.

    A Blockworks podcast.

    Subscribe to The Breakdown newsletter: https://the-breakdown.carrd.co/

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    Copyright: © All Rights Reserved

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    Latest Episodes:
    Are We Finally Going to Get Securities Clarity? Mar 28, 2025
    Show notes

    Representatives Emmer and Soto have reintroduced their Securities Clarity Act; French Hill says the crypto market structure bill is coming and much more.


    Sponsored by:


    Crypto Tax Calculator

    Accurate Crypto Taxes. No Guesswork. Say goodbye to tax season headaches with Crypto Tax Calculator: Generate accurate, CPA-endorsed tax reports fully compliant with IRS rules. Seamlessly integrate with 3000+ wallets, exchanges, and on-chain platforms. Import reports directly into TurboTax or H&R Block, or securely share them with your accountant. Exclusive Offer: Use the code BW2025 to enjoy 30% off all paid plans. Don’t miss out - offer expires 15 April 2025!


    Ledger

    Ledger, the world leader in digital asset security, proudly sponsors The Breakdown podcast. Celebrating 10 years of protecting over 20% of the world’s crypto, Ledger ensures the security of your assets. For the best self-custody solution in the space, buy a LEDGER™ device and secure your crypto today. Buy now on Ledger.com.


    Enjoying this content?

    • SUBSCRIBE to the Podcast: https://pod.link/1438693620
    • Watch on YouTube: https://www.youtube.com/nathanielwhittemorecrypto
    • Subscribe to 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 Prophecy is Fulfilled: Gamestop to Buy BTC Mar 27, 2025
    Show notes

    Your 2021 self just did a happy dance. Gamestop and Bitcoin have converged as the company plans to spend it's big cash pile at least in part on a BTC treasury reserve. Could anything be more perfect?


    Sponsored by:


    Crypto Tax Calculator

    Accurate Crypto Taxes. No Guesswork. Say goodbye to tax season headaches with Crypto Tax Calculator: Generate accurate, CPA-endorsed tax reports fully compliant with IRS rules. Seamlessly integrate with 3000+ wallets, exchanges, and on-chain platforms. Import reports directly into TurboTax or H&R Block, or securely share them with your accountant. Exclusive Offer: Use the code BW2025 to enjoy 30% off all paid plans. Don’t miss out - offer expires 15 April 2025!


    Ledger

    Ledger, the world leader in digital asset security, proudly sponsors The Breakdown podcast. Celebrating 10 years of protecting over 20% of the world’s crypto, Ledger ensures the security of your assets. For the best self-custody solution in the space, buy a LEDGER™ device and secure your crypto today. Buy now on Ledger.com.


    Enjoying this content?

    • SUBSCRIBE to the Podcast: https://pod.link/1438693620
    • Watch on YouTube: https://www.youtube.com/nathanielwhittemorecrypto
    • Subscribe to 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

    Real World Asset Tokenization Shows Positive Early Indicators Mar 26, 2025
    Show notes

    On this grab bag episode, NLW covers a range of topics, including what was once the odds-on favorite to be this cycle's big narrative driver: real world asset tokenization.


    Sponsored by:


    Crypto Tax Calculator

    Accurate Crypto Taxes. No Guesswork. Say goodbye to tax season headaches with Crypto Tax Calculator: Generate accurate, CPA-endorsed tax reports fully compliant with IRS rules. Seamlessly integrate with 3000+ wallets, exchanges, and on-chain platforms. Import reports directly into TurboTax or H&R Block, or securely share them with your accountant. Exclusive Offer: Use the code BW2025 to enjoy 30% off all paid plans. Don’t miss out - offer expires 15 April 2025!


    Ledger

    Ledger, the world leader in digital asset security, proudly sponsors The Breakdown podcast. Celebrating 10 years of protecting over 20% of the world’s crypto, Ledger ensures the security of your assets. For the best self-custody solution in the space, buy a LEDGER™ device and secure your crypto today. Buy now on Ledger.com.


    Enjoying this content?

    • SUBSCRIBE to the Podcast: https://pod.link/1438693620
    • Watch on YouTube: https://www.youtube.com/nathanielwhittemorecrypto
    • Subscribe to 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

    A Win for Privacy as Tornado Cash Addresses are Unsanctioned Mar 25, 2025
    Show notes

    A big win for privacy and the crypto space came surrounding the Tornado Cash sanctions, but as NLW points out, there is still battle ahead, as the Treasury is not saying that Tornado Cash is okay going forward.


    Sponsored by:


    Crypto Tax Calculator

    Accurate Crypto Taxes. No Guesswork. Say goodbye to tax season headaches with Crypto Tax Calculator: Generate accurate, CPA-endorsed tax reports fully compliant with IRS rules. Seamlessly integrate with 3000+ wallets, exchanges, and on-chain platforms. Import reports directly into TurboTax or H&R Block, or securely share them with your accountant. Exclusive Offer: Use the code BW2025 to enjoy 30% off all paid plans. Don’t miss out - offer expires 15 April 2025!


    Ledger

    Ledger, the world leader in digital asset security, proudly sponsors The Breakdown podcast. Celebrating 10 years of protecting over 20% of the world’s crypto, Ledger ensures the security of your assets. For the best self-custody solution in the space, buy a LEDGER™ device and secure your crypto today. Buy now on Ledger.com.


    Enjoying this content?

    • SUBSCRIBE to the Podcast: https://pod.link/1438693620
    • Watch on YouTube: https://www.youtube.com/nathanielwhittemorecrypto
    • Subscribe to 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's Past, Present and Future Mar 23, 2025
    Show notes

    A reading a discussion inspired by Meltem Demirors' recent DAS presentation: https://x.com/Melt_Dem/status/1902748560610795578


    Sponsored by:


    Ledger

    Ledger, the world leader in digital asset security, proudly sponsors The Breakdown podcast. Celebrating 10 years of protecting over 20% of the world’s crypto, Ledger ensures the security of your assets. For the best self-custody solution in the space, buy a LEDGER™ device and secure your crypto today. Buy now on Ledger.com.


    Enjoying this content?

    • SUBSCRIBE to the Podcast: https://pod.link/1438693620
    • Watch on YouTube: https://www.youtube.com/nathanielwhittemorecrypto
    • Subscribe to 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



    Making America the"Undisputed Bitcoin Superpower and Crypto Capital of the World” Mar 22, 2025
    Show notes

    A sitting US president appeared at a crypto conference for the first time yesterday as President Trump popped in on Blockworks' DAS yesterday to reaffirm his administration's commitment to US crypto superiority.


    Sponsored by:


    Ledger

    Ledger, the world leader in digital asset security, proudly sponsors The Breakdown podcast. Celebrating 10 years of protecting over 20% of the world’s crypto, Ledger ensures the security of your assets. For the best self-custody solution in the space, buy a LEDGER™ device and secure your crypto today. Buy now on Ledger.com.


    Enjoying this content?

    • SUBSCRIBE to the Podcast: https://pod.link/1438693620
    • Watch on YouTube: https://www.youtube.com/nathanielwhittemorecrypto
    • Subscribe to 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



    Sneaky Significant Changes at the Fed Mar 21, 2025
    Show notes

    It was FOMC day, and while rates stayed the same, there was much more interest and intrigue than there's been in many, many meetings. How are Powell and the Fed handling Trump's "What Next" economy?


    Sponsored by:


    Ledger

    Ledger, the world leader in digital asset security, proudly sponsors The Breakdown podcast. Celebrating 10 years of protecting over 20% of the world’s crypto, Ledger ensures the security of your assets. For the best self-custody solution in the space, buy a LEDGER™ device and secure your crypto today. Buy now on Ledger.com.


    Enjoying this content?

    • SUBSCRIBE to the Podcast: https://pod.link/1438693620
    • Watch on YouTube: https://www.youtube.com/nathanielwhittemorecrypto
    • Subscribe to 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 Real Story of Institutional Crypto Interest Mar 20, 2025
    Show notes

    We keep hearing that institutions are still stoked on crypto despite retail stress. Today NLW explores what evidence we have one way or another.


    Sponsored by:


    Ledger

    Ledger, the world leader in digital asset security, proudly sponsors The Breakdown podcast. Celebrating 10 years of protecting over 20% of the world’s crypto, Ledger ensures the security of your assets. For the best self-custody solution in the space, buy a LEDGER™ device and secure your crypto today. Buy now on Ledger.com.


    Enjoying this content?

    • SUBSCRIBE to the Podcast: https://pod.link/1438693620
    • Watch on YouTube: https://www.youtube.com/nathanielwhittemorecrypto
    • Subscribe to 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



    Bitcoin is For Enemies: Pyongyang Edition Mar 19, 2025
    Show notes

    On this grab bag episode, NLW covers North Korea's growing bitcoin stack, the SEC reconsidering a Gensler-era rule, and record BTC outflows.


    Sponsored by:


    Ledger

    Ledger, the world leader in digital asset security, proudly sponsors The Breakdown podcast. Celebrating 10 years of protecting over 20% of the world’s crypto, Ledger ensures the security of your assets. For the best self-custody solution in the space, buy a LEDGER™ device and secure your crypto today. Buy now on Ledger.com.


    Enjoying this content?

    • SUBSCRIBE to the Podcast: https://pod.link/1438693620
    • Watch on YouTube: https://www.youtube.com/nathanielwhittemorecrypto
    • Subscribe to 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



    Treasury Secretary Bessent: "The Beatings Will Continue Until Morale Improves" Mar 18, 2025
    Show notes

    The market is finally digesting that there is no Trump put, and that Trump 2.0 is more concerned with remaking the global economic order than on making Wall Street happy -- at least for now. NLW talks about the implications for markets, bitcoin and beyond.


    Sponsored by:


    Ledger

    Ledger, the world leader in digital asset security, proudly sponsors The Breakdown podcast. Celebrating 10 years of protecting over 20% of the world’s crypto, Ledger ensures the security of your assets. For the best self-custody solution in the space, buy a LEDGER™ device and secure your crypto today. Buy now on Ledger.com.


    Enjoying this content?

    • SUBSCRIBE to the Podcast: https://pod.link/1438693620
    • Watch on YouTube: https://www.youtube.com/nathanielwhittemorecrypto
    • Subscribe to 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



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