This episode is sponsored by Nexo.ioCircle and FTX US.

After a wild weekend of speculation and discussion, NLW breaks down what’s actually happening with beleaguered Credit Suisse, as well as why the FinTwit doom machine seems so focused on it.

“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsors today is “The Now” by Aaron Sprinkle and “The Life We Had” by Moments. Image credit: Dan Kitwood/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.