Blockworks

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/

Author

Blockworks

Category

Business

Podcast website

the-breakdown.carrd.co

Latest episode

Jul 6, 2026

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Episodes

Is the US Sovereign Wealth Fund a Sneaky Proxy for a Bitcoin Strategic Reserve? 05.02.2025

.....or is that just insane wishful thinking? NLW explores the latest Trump executive action. Once again, mainstream economic wisdom is skeptical, but should we reserve judgement until we see the specific proposal? 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, Ledge...

Why the Trump Tariffs Aren't Actually Economic Policy 04.02.2025

The Trump Tariffs broke absolutely everyone's mind this weekend. Most, frankly, didn't see the logic and even those with a pro-Tariff bent were surprised at the direction and scale of the move. NLW argues that the one thing that's for sure is that these weren't primarily economic moves; they were all about geostrategic realignment. Sponsored by: Ledger Ledger, the world leader in digital asset sec...

The American Argument for Tokenizing Everything 02.02.2025

A reading and discussion inspired by: https://www.washingtonpost.com/opinions/2025/01/28/investing-crypto-tech-robinhood-stock-market/ https://www.coindesk.com/opinion/2025/01/30/put-securities-on-chain Sponsored by: Ledn Need liquidity without selling your Bitcoin? For 6+ years, Ledn has been the trusted choice for Bitcoin-backed lending. With transparency, security, and trust at our core, we hel...

The Five Most Important Stories in Crypto This Week 01.02.2025

Recorded live with Scott Melker on Friday 1.31.25 Sponsored by: Ledn Need liquidity without selling your Bitcoin? For 6+ years, Ledn has been the trusted choice for Bitcoin-backed lending. With transparency, security, and trust at our core, we help you access your BTC’s wealth while HODLing. Discover what your Bitcoin can do at ledn.io/borrowing. Ledger Ledger, the world leader in digital asset se...

Powell: Banks Can Serve Crypto Industry 31.01.2025

It might have been the world's most predictable Fed meeting when it came to interest rates, but there was a decided shift in tone from Fed Chair Jerome Powell when it came to the Fed's stance on crypto and the banks. Sponsored by: Ledn Need liquidity without selling your Bitcoin? For 6+ years, Ledn has been the trusted choice for Bitcoin-backed lending. With transparency, security, and trust at ou...

Stock Tokenization and the Fight Against Accredited Investor Rules 31.01.2025

NLW rattles off a slate of forward-looking news that shows where Bitcoin and crypto are headed in a new regulatory context. He specifically hones in on Robinhood's push for stock tokenization as a way to democratize access to financial investment opportunities. Sponsored by: Ledn Need liquidity without selling your Bitcoin? For 6+ years, Ledn has been the trusted choice for Bitcoin-backed lending....

Why China's DeepSeek AI Model Crashed Bitcoin 29.01.2025

Everyone everywhere is talking about DeepSeek. It sent Bitcoin down under $100k temporarily and ripped trillions of the US stock market. NLW breaks down what happened and why markets reacted so strongly. Sponsored by: Ledn Need liquidity without selling your Bitcoin? For 6+ years, Ledn has been the trusted choice for Bitcoin-backed lending. With transparency, security, and trust at our core, we he...

What the Crypto Executive Order Actually Says 28.01.2025

NLW breaks down the specific language of the Trump crypto executive order, including the controversial lack of "bitcoin." Should bitcoiners be worried? Sponsored by: Ledn Need liquidity without selling your Bitcoin? For 6+ years, Ledn has been the trusted choice for Bitcoin-backed lending. With transparency, security, and trust at our core, we help you access your BTC’s wealth while HODLing. Disco...

Crypto Values for a New Era 26.01.2025

A reading and discussion inspired by https://www.coindesk.com/opinion/2025/01/22/ross-is-free-now-let-s-free-the-internet-of-money Sponsored by: Ledn Need liquidity without selling your Bitcoin? For 6+ years, Ledn has been the trusted choice for Bitcoin-backed lending. With transparency, security, and trust at our core, we help you access your BTC’s wealth while HODLing. Discover what your Bitcoin...

The Five Most Important Stories in an Absolutely BANGER Bitcoin Week 25.01.2025

From $TRUMP to the inauguration to executive orders on crypto to the SEC rocking a pro-crypto stance, it was a BIG week. NLW and Scott Melker break it all down. Sponsored by: Ledn Need liquidity without selling your Bitcoin? For 6+ years, Ledn has been the trusted choice for Bitcoin-backed lending. With transparency, security, and trust at our core, we help you access your BTC’s wealth while HODLi...

The Newly Pro-Crypto SEC Gets a Running Start 24.01.2025

We've officially moved from "things seem likely to get better in the future" to "okay, good stuff is actually happening." Today NLW talks about the shift in the SEC, where pro-crypto Commissioners Hester Pierce and acting-Chair Mark Uyeda are driving serious and meaningful chain with no delay. Sponsored by: Ledn Need liquidity without selling your Bitcoin? For 6+ years, Ledn has been the trusted...

Ross Ulbricht Has Been Pardoned 23.01.2025

One of the most important campaign promises for many bitcoiners was President Trump's pledge to pardon Ross Ulbricht. That pardon was officially granted on day 1 of the new administration, leading to optimism that more good news could be on the horizon. Sponsored by: Ledn Need liquidity without selling your Bitcoin? For 6+ years, Ledn has been the trusted choice for Bitcoin-backed lending. With t...

The Trump Crypto Era Begins with a Surprise Memecoin 22.01.2025

No day 1 executive orders on crypto, but we did get one of the craziest and most massive memecoin launches ever, courtesy of an official Trump memecoin promoted by the then-President Elect. The launch has Crypto Twitter feeling all sorts of ways. Sponsored by: Ledn Need liquidity without selling your Bitcoin? For 6+ years, Ledn has been the trusted choice for Bitcoin-backed lending. With transpar...

Making the US the Crypto Capital of the World 19.01.2025

A reading and discussion inspired by: https://www.coindesk.com/opinion/2025/01/16/how-to-make-the-united-states-the-crypto-capital-of-the-world Sponsored by: Ledn Need liquidity without selling your Bitcoin? For 6+ years, Ledn has been the trusted choice for Bitcoin-backed lending. With transparency, security, and trust at our core, we help you access your BTC’s wealth while HODLing. Discover wha...

SEC to Hit the Ground Running on Crypto 18.01.2025

NLW and Scott Melker discuss the five most important stories in crypto this week. Sponsored by: Ledn Need liquidity without selling your Bitcoin? For 6+ years, Ledn has been the trusted choice for Bitcoin-backed lending. With transparency, security, and trust at our core, we help you access your BTC’s wealth while HODLing. Discover what your Bitcoin can do at ledn.io/borrowing. Enjoying this conte...

Bitcoin's Big $100K Rebound 17.01.2025

After a week of macro jitters, Bitcoin has rightsized and seems to have stabilized above $100k. Is it anticipation of a new administration or the clear signal from the CPI numbers? NLW explores. Sponsored by: Ledn Need liquidity without selling your Bitcoin? For 6+ years, Ledn has been the trusted choice for Bitcoin-backed lending. With transparency, security, and trust at our core, we help you ac...

The Great Bitcoin Market Upsizing 16.01.2025

NLW explores how institutional demand (and institutional builders) are significantly upsizing the Bitcoin and crypto markets, and how that trend will play out further in 2025. Sponsored by: Ledn Need liquidity without selling your Bitcoin? For 6+ years, Ledn has been the trusted choice for Bitcoin-backed lending. With transparency, security, and trust at our core, we help you access your BTC’s wea...

Macro Roils After Surprising Jobs Report (and Bitcoin Follows) 15.01.2025

NLW covers the latest moves in Bitcoin's price, exploring what they say about the larger macro environment for risk assets and the likelihood of changes in Fed policy. Sponsored by: Ledn Need liquidity without selling your Bitcoin? For 6+ years, Ledn has been the trusted choice for Bitcoin-backed lending. With transparency, security, and trust at our core, we help you access your BTC’s wealth whil...

E. Warren's CFPB Tries Some Midnight Crypto Rulemaking 14.01.2025

It wouldn't be an outgoing administration without some last minute political intrigue. This time it's the Consumer Financial Protection Bureau (an agency firmly in the crosshairs of Elon Musk's DOGE) attempting to impose rules on crypto payments. Sponsored by: Ledn Need liquidity without selling your Bitcoin? For 6+ years, Ledn has been the trusted choice for Bitcoin-backed lending. With transpare...

Is 2025 the Year of Crypto x AI Agents? 12.01.2025

A reading and discussion inspired by: https://www.coindesk.com/opinion/2024/12/24/2025-will-be-the-year-that-ai-agents-transform-crypto https://www.coindesk.com/opinion/2025/01/09/the-ai-revolution-will-spawn-millions-of-new-tokens Sponsored by: Ledn Need liquidity without selling your Bitcoin? For 6+ years, Ledn has been the trusted choice for Bitcoin-backed lending. With transparency, security,...

The Five Most Important Stories in Crypto This Week 11.01.2025

Turns out it was a very heavily macro-influenced week, with some policy and price action thrown in. NLW and Scott Melker break it down. Recorded live Jan 10th, 2025. Sponsored by: Ledn Need liquidity without selling your Bitcoin? For 6+ years, Ledn has been the trusted choice for Bitcoin-backed lending. With transparency, security, and trust at our core, we help you access your BTC’s wealth while...

Macro Jitters Roil the Crypto Markets 10.01.2025

Fresh off starting the year at $100,000, Bitcoin (and the rest of crypto) tanked. Some thought it was all about concerns of USG selling their Silk Road stash, but it appears to be more rooted in broader macro concern of returning inflation. NLW explores. Sponsored by: Ledn Need liquidity without selling your Bitcoin? For 6+ years, Ledn has been the trusted choice for Bitcoin-backed lending. With t...

Is the FDIC Whistleblower Account Real? 09.01.2025

Some disturbing allegations about the FDIC coverup about its role in Operation Chokepoint 2.0 are gripping cryptotwitter. But how much credibility is there behind the claims? Sponsored by: Ledn Need liquidity without selling your Bitcoin? For 6+ years, Ledn has been the trusted choice for Bitcoin-backed lending. With transparency, security, and trust at our core, we help you access your BTC’s weal...

Crisis Averted: Fed Vice Chair for Supervision Steps Down 08.01.2025

A significant conflict was brewing at the Fed. Some suspected that Vice Chair for Supervision Michael S. Barr would try to fight President Trump to stay in power. That scenario has now been averted, although some are wondering if it signals a change in the independence of the Fed. Plus Bitcoin back at $100,000. Sponsored by: Ledn Need liquidity without selling your Bitcoin? For 6+ years, Ledn has...

Operation Chokepoint 2.0 Finally Has Smoking Guns 07.01.2025

Updated compliance with a Coinbase FOIA request shows not only how extensive the FDIC's campaign against crypto business was, but also shows how many novel digital asset products from banks were strangled in the crib. Sponsored by: Ledn Need liquidity without selling your Bitcoin? For 6+ years, Ledn has been the trusted choice for Bitcoin-backed lending. With transparency, security, and trust at o...

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