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

On today’s episode, NLW breaks down the day’s news in terms of how it demonstrates the archetypes of the 2022 crypto bear market, looking at:

  • Market moves
  • A DeFi hack
  • CBDCs
  • Regulatory enforcement
  • Regulatory positivity
  • Regulatory weirdness
  • Pre-narrative institutionalization
  • Post-narrative institutionalization
  • A slew of random fundraising
  • Innovation that may drive a bull market

“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 “Razor Red” by Sam Barsh and “The Life We Had” by Moments. Image credit: Nuthawut Somsuk/Getty Images, modified by CoinDesk. Join the discussion at