Introduction

The Breakdown is a daily podcast on macro, Bitcoin and the big picture power shifts remaking our world. Today we go deep on what has been happening with the crypto banking system specifically but also the US banking system more broadly. We talk about interest rate risk and how it's led to unrealized losses on balance sheets with banks serving all industries. Even if there aren't mustache twisting Dr. Evil villains trying to kill crypto from on high in their positions of power in the US government, underlying biases about crypto can translate down into policy that ends up having the same chilling effect.