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

The crypto industry hasn’t been particularly pleased with the SEC under Gary Gensler. In particular, the continued rejections of bitcoin spot ETFs (even after a futures ETF was approved last year) have been particularly irksome – even leading to legal action. In this episode, NLW breaks down a recent editorial in the Wall Street Journal showing that it’s not just the crypto industry that is upset.

“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. The music you heard today behind our sponsors is “The Now” by Aaron Sprinkle. Image credit: Brendan Smialowski/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.