This episode is sponsored by Nexo.io, Arculus and FTX US.

Today on “The Breakdown,” NLW covers two topics. First, he looks at a new Chainalysis report on which countries realized the biggest crypto gains in 2021, and specifically how that list differs from the rank of countries by GDP. Second, he looks at new sanctions on mining firm BitRiver and what it means for the geopolitics of bitcoin mining.

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Consensus 2022, the industry’s most influential event, is happening June 9–12 in Austin, Texas. If you’re looking to immerse yourself in the fast-moving world of crypto, Web 3 and NFTs, this is the festival experience for you. Use code BREAKDOWN to get 15% off your pass at www.coindesk.com/consensus2022.

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“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 sponsor is “I Don't Know How To Explain It” by Aaron Sprinkle. Image credit: Vasil Dimitrov/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.

EP1: Bitcoin and Markets – The Gavin Situation