This episode is sponsored by Nexo, Abra and FTX US.

This week’s “Long Reads Sunday” reading is Max Baucus’ “The Urgent Need for Regulatory Clarity on Stablecoins.”

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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. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Time” by OBOY. Image credit: Lintao Zhang/Getty Image News, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.

Embracing Your Winter Arc: Patience, Pruning & Comparison