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

On today’s episode, NLW covers:

  • Acting Comptroller Michael Hsu’s comments on systemic risk in crypto following Terra
  • South Korean authorities’ push for answers
  • USDC on Ethereum flippens USDT on Ethereum among whales
  • Crypto funds raise billions

“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsors is “Catnip” by Famous Cats and “I Don't Know How To Explain It” by Aaron Sprinkle. Image credit: Yuichiro Chino/Getty Images, modified by CoinDesk. Join the discussion at