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

On this edition of “Long Reads Sunday,” NLW reads:

Cannabis and Crypto - Brett Harrison
Bitcoin is boring? - Jurrien Timmer
Morgan Stanley on Lightning - Alex Gladstein

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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 today's editing by Eleanor Pahl and 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: skodonnell/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.

EP3: R3CEV Raises Money, Banks Don't Get It, and Steel Trade Wars