

The Breakdown
Blockworks
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/
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/
Episodes
Mentioned books

Mar 4, 2025 • 14min
Trump's Strategic S#^@coin Reserve
Exploring the U.S. Crypto Strategic Reserve reveals controversy and unexpected choices in altcoins like XRP and ADA. The crypto community reacts with mixed emotions, highlighting market impacts and political critiques. Allegations of corruption tie Trump family investments to Cardano and Solana, raising ethical questions about market manipulation. Discussions on U.S.-centric crypto policies emphasize the importance of industry feedback in shaping future regulations, showcasing the complex interplay between politics and digital assets.

5 snips
Mar 3, 2025 • 12min
Is the War on Crypto Actually Over?
The discussion dives into the complexities of proposed tax policies for cryptocurrencies under Trump. Topics include the potential chaos of eliminating capital gains taxes and its impact on market volatility. There's a detailed look at the ongoing challenges within U.S. regulatory frameworks despite pro-crypto leadership. The conversation highlights the active role of state regulators and the importance of strategic support for crypto-friendly political candidates in navigating this ever-changing landscape.

25 snips
Mar 1, 2025 • 27min
Bitcoin's Brutal Crash: The Five Most Important Stories in Crypto This Week
Scott Melker, a cryptocurrency analyst and trader, shares insights into the turbulent waters of the crypto market. He discusses Bitcoin's recent value decline and its ripple effects on altcoins amidst macroeconomic challenges. The conversation turns to the shocking $1.5 billion Bybit hack attributed to North Korea, emphasizing the urgent need for improved security measures. They explore the ongoing battle of crypto custody, regulation struggles, and how these crises might create new buying opportunities for savvy investors.

11 snips
Feb 27, 2025 • 21min
Security After the Bybit Hack with Ledger CTO Charles Guillemet
In this discussion, Charles Guillemet, the CTO of Ledger, delves into the staggering $1.4 billion Bybit hack by the Lazarus Group, highlighting the urgent need for improved security protocols in crypto. He outlines the vulnerabilities in enterprise wallet systems, emphasizing the risks of human error. Guillemet also advocates for the shift to hardware wallets for better safeguarding of assets and stresses the importance of multi-authorization wallets. The conversation reveals how exchanges must elevate their security measures to protect against evolving threats.

10 snips
Feb 26, 2025 • 13min
How AI Is Impacting Bitcoin Mining
Bitcoin mining faces hurdles from U.S. regulations and border seizures, affecting hash rate growth. A shift toward AI is underway, with miners adapting to new workloads and investment indicators. The synergy between AI and Bitcoin mining reveals economic benefits like job creation and energy grid optimization, showcased by innovative projects in Texas. Insights into Bitcoin ETF migrations and miner capitulation further illuminate the dynamics of profitability and price stabilization in this evolving landscape.

12 snips
Feb 24, 2025 • 12min
Bitcoin is Surging at the State Government Level
Bitcoin's adoption at the state level is gaining momentum, with states like Montana and Arizona leading innovative legislative actions. The podcast dives into the rise of institutional investments, signaling Bitcoin's mainstream acceptance. It also highlights major custody banks entering the crypto space, reshaping traditional finance. Moreover, Bitcoin is experiencing a resurgence, dominating the market while leaving altcoins behind. The discussion touches on potential catalysts for Bitcoin's rally and the shift from gold reserves to digital currency.

18 snips
Feb 23, 2025 • 16min
How AI Agents Might Finally Make Micropayments Make Sense
Discover the challenges of micropayments stemming from cognitive barriers as discussed in Nick Szabo's work from 25 years ago. Learn how AI agents are poised to revolutionize transaction management by personalizing user experiences. The intersection of AI and human psychology unveils new insights into transaction costs, paving the way for innovative business models. With advancements in technology like the Lightning Network, the future of digital payments seems brighter than ever.

18 snips
Feb 21, 2025 • 12min
The Latest Updates from Washington D.C.'s "Golden Age of Crypto"
This discussion dives into the rapid evolution of cryptocurrency regulation in Washington D.C. It highlights efforts from the Trump administration to position the U.S. as a crypto leader, along with ongoing debates about decentralized finance and the Fourth Amendment. Political challenges emerge as leaders hesitate to engage with industry experts, while Texas senators confront IRS tax rules impacting DeFi. Positive movements are also noted with NASDAQ’s expanded crypto ETF proposals and the reopening of Binance US for dollar deposits, hinting at a promising regulatory environment.

13 snips
Feb 20, 2025 • 13min
The $LIBRA Scandal Just Gets Worse
Dive into the juicy details of the LIBRA scandal, featuring leaked messages that hint at political corruption involving meme coins. Explore insider trading controversies and the emerging scrutiny in crypto markets. The podcast tackles the complex ethical challenges surrounding meme coins and offers insights into navigating this volatile landscape. Discover the latest token launches and how they compare to Bitcoin amidst regulatory chaos. It's a wild ride through the dark side of cryptocurrency!

8 snips
Feb 19, 2025 • 18min
The Memecoin That Might Take Down a President
An outrageous tale unfolds around the $LIBRA meme coin and Argentina's president. Witness the swift rise and shocking fall of a cryptocurrency that sparked political chaos and investor disillusionment. Hear about rampant insider trading and the eerie normalization of unethical practices in crypto markets. As skepticism looms over meme coins, experts discuss potential shifts toward more stable investments, leaving listeners questioning the future of Bitcoin and the industry at large.


