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
Feb 10, 2024 • 25min
Bitcoin Enthusiasm Returns: The Five Most Important Stories in Crypto This Week
The hosts discuss Bitcoin's recent price movement and the push towards 48,000. They also talk about the Solana outage and its implications. The chapter explores Bitcoin's growth and hype even during price drops. They also discuss the regulatory crackdown in the crypto world.
Feb 10, 2024 • 14min
Could Prometheum's Custody Plans Force the SEC on Ethereum?
Prometheum discusses their Ethereum custody plans and the potential consequence of the SEC designating Ethereum a security. Controversy surrounding Prometheum's plans, including speculation about its connection to a Chinese crypto firm and allegations of unethical behavior by the SEC. Discussion on the SEC's behavior in crypto enforcement cases and progress in stablecoin legislation negotiations. Recent appeal won by Do Kwan against extradition and speculation on lawsuits involving Kwan Base and the SEC.
Feb 8, 2024 • 15min
Bitcoin Breaks Out as ETF Flows Normalize
Bitcoin breaks out with a 3.6% gain, whales increase, volatility compresses, miners sell, reserves decrease, and hashrate rises. Bitcoin miners' behavior and the impact of the ETF launch on futures markets are explored. Market reactions to the rate cut delay, Bitcoin's decoupling from interest rates, and update on newly launched Bitcoin ETFs are discussed. The need for options market approval and Bitcoin as a risk-off asset are emphasized.
Feb 8, 2024 • 13min
The SEC Shoves New Market Maker Rule Through
Discussion on the new SEC market maker rule and its potential impact on the crypto industry, including concerns about lack of clarity and economic analysis. Opposition from private trading firms and Treasury Secretary Janet Yellen's testimony on stablecoins. Exploration of federal regulation of stablecoins, SEC's jurisdiction over spot markets, and the need for proper crypto legislation. Highlighting MicroStrategy's Bitcoin purchases and their diminishing free cash.
Feb 7, 2024 • 15min
Will Anything Useful Be Built This Crypto Cycle?
Exploring financial nihilism and the current crypto cycle, the podcast delves into the potential for genuine innovation in AI, decentralized infrastructure, NFTs, and gaming. Farcaster, a decentralized social media protocol, gains attention, sparking debate on the pros and cons of decentralized social media. The growth of decentralized social networks is examined, with a focus on Farcaster, highlighting its potential and concerns. The speaker concludes with gratitude to the sponsor.
Feb 6, 2024 • 16min
Bitcoin Bull Bukele Cruises to Second Term in El Salvador
The podcast covers topics such as Bitcoin adoption in El Salvador, updates from Jerome Powell and the US jobs data, Chinese stocks, regulations in Hong Kong for digital asset exchanges, and the potential rise of Bitcoin in Q2 2024.
Feb 5, 2024 • 7min
Why the Bitcoin ETF Will Never Be the Same as Truly Owning Bitcoin
Pascal Gauthier, CEO of Ledger, discusses the limitations and potential impact of Bitcoin ETFs, highlighting counterparty risks and the promotion of self-custody for true ownership of crypto.
Feb 3, 2024 • 23min
The Five Most Important Stories in Crypto and Macro This Week
Discussion on FOMC meeting and market reaction, unpredictability of predictive markets and current market dynamics, update on BlackRock and GBTC trading volume, Chainlink's price surge and potential rebranding, FTX's bankruptcy case and implications for the industry.
Feb 2, 2024 • 16min
Tether Made More Money Than Goldman Sachs Last Quarter
Tether reported record profits in Q4, outpacing Goldman Sachs; concerns about regulatory compliance and transparency; status of stablecoin bill and crypto market regulations; Senate and House resolutions on accounting standards; Energy Consumption Survey of US crypto miners; Bitcoin ETF frenzy; ETF performance and AUM, BlackRock leading in liquidity, OpenX Exchange shutting down.
Feb 2, 2024 • 15min
Powell Says No Rate Cuts in March
The podcast discusses the Federal Reserve's decision to hold rates steady and the balance of risks faced by the Fed. Powell addresses the pressure on the Fed and the importance of price stability. There is also a discussion on cryptocurrency, quantitative tightening, and the market's reaction to the Fed's rate cut decision. The delay in rate cuts and troubles at New York Community Bank are examined as well.
