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The Breakdown
The Breakdown
Blockworks

A daily analysis of macroeconomics, bitcoin, geopolitics and big picture power shifts, hosted by Nathaniel Whittemore @nlw. The Breakdown is part of... more

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Episodes

What Everyone Missed About Circle's Explosive IPO

Circle's IPO wasn't just successful—it was a rocket ship, surging from its initial price of $31 to over $100 per... more

15 Jun 2025 · 10 minutes
The Five Most Important Stories in Crypto This Week

On today's Breakdown, NLW covers a dramatic escalation as Israel launches airstrikes against Iran, rattling global markets. He explores Bitcoin's... more

14 Jun 2025 · 12 minutes
The Stablecoin Surge and Stripe’s Crypto Power Play

Nathaniel dives into the growing momentum behind stablecoin legislation in Washington, including the Senate’s latest approval of the Genius Act,... more

12 Jun 2025 · 13 minutes
Bitcoin’s Hot Summer, Solana ETF Momentum, and Connecticut's Crypto Ban

Bitcoin is sizzling this summer, surging back to $110,000 amid optimistic predictions from figures like Michael Saylor, who argues that... more

11 Jun 2025 · 11 minutes
Why the SEC Chair Just Declared Self-Custody a Foundational American Value

In a significant policy shift, SEC Chair Paul Atkins defends self-custody as a fundamental American right, marking a turning point... more

11 Jun 2025 · 12 minutes
Trump's Taco Trade and the Dollar's Dangerous Game

Markets settle on the "taco trade," betting Trump won't push tariffs too far—but uncertainty reigns as China tensions linger, automakers... more

10 Jun 2025 · 13 minutes
The End of Money as You Know It

On today's Long Read Sunday, NLW explores Hugh Hendry's provocative essay "Sovereignty 3.0," examining how rising Treasury yields signal the... more

08 Jun 2025 · 8 minutes
Circle Soars, Trump and Musk Clash, and JPMorgan Embraces Bitcoin ETFs

Scott Melker joins NLW for a packed Friday Five: Circle’s IPO skyrockets, Musk and Trump’s crypto-fueled feud jolts markets, and... more

07 Jun 2025 · 22 minutes
Circle’s Blockbuster IPO Oversubscribed 25x

Circle’s IPO blew past expectations, pricing high and oversubscribed 25x, signaling Wall Street’s growing appetite for stablecoin exposure. NLW breaks... more

07 Jun 2025 · 15 minutes
Democrats Slam SEC Over Crypto Bill Chaos

Democrat frustration boils over after an SEC technical briefing on the crypto market structure bill goes disastrously wrong. NLW explores... more

05 Jun 2025 · 13 minutes
The Breakdown
What Everyone Missed About Circle's Explosive IPO
The Breakdown