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The Breakdown

Blockworks
Bitcoin
SEC
Etfs
Coinbase
Kraken
Ethereum
Bitcoin Etfs
Elizabeth Warren
Finance
Wells Fargo
Bank Of America
Vanguard
Proof Of Work
Digital Payments
Stablecoins
February
Ledger
Satoshi Nakamoto
Circle
Tron

The Breakdown dives into the deepest topics in crypto, blockchain, and the macro forces shaping markets and power structures. Each episode breaks down complex ideas into clear, grounded analysis — separating signal from noise across crypto, finance, and geopolitics. Hosted by David Canellis, The Breakdown features explainers, interviews, and conversations with the people building, regulating, and ... more

PublishesDailyEpisodes2051Founded7 years ago
Number of ListenersCategories
InvestingBusiness

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Latest Episodes

AI agents are coming online fast — and the payment rails for that world are being built right now.

David breaks down the race between Coinbase’s x402 and Stripe’s Machine Payments Protocol, the rise of agentic commerce, and why crypto may have a nat... more

While The Breakdown is between seasons, we’re bringing some of our favorite conversations from across Blockworks onto the feed.

In this episode of Forward Guidance, Felix Jauvin sits down with Fed Governor Stephen Miran at DAS to discuss why he beli... more

While The Breakdown is between seasons, we’re sharing a panel from Digital Assets Summit featuring the team behind Inflection Point. The conversation explores how investors should think about crypto valuations, what gives L1s value, and why there’s s... more

While The Breakdown is between seasons, we’re sharing a panel from Digital Asset Summit hosted by David. The discussion explores how institutions think about on-chain privacy, the tradeoffs involved, and what it takes to bring financial systems onto ... more

Key Facts

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Recent Guests

Yannik Schreit
CEO and co-founder at Arqium
Arqium
Episode: Privacy & Institutional Crypto's [Redacted] Future | The Breakdown
Eric Sernicki
Co-founder of Digital Asset
Digital Asset
Episode: Privacy & Institutional Crypto's [Redacted] Future | The Breakdown
Catherine Gu
Head of Product for Digital Assets at Solana Foundation
Solana Foundation
Episode: Privacy & Institutional Crypto's [Redacted] Future | The Breakdown
Paul Atkins
Chairman of the SEC (as introduced in the episode)
SEC
Episode: Investor Relations in the Onchain Era
Bob Elliott
Macro investor and author, guest on Forward Guidance
Unlimited Funds
Episode: The Macro Chain Reaction of Oil Shocks | Forward Guidance
David LaJuan
Head of Research at Anchorage Digital
Anchorage Digital
Episode: Introducing: Inflection Point | The Crypto-TradFi Convergence
Michael Mark Antonio
Head of DeFi at Galaxy Digital
Galaxy Digital
Episode: Introducing: Inflection Point | The Crypto-TradFi Convergence
Haseeb Qureshi
Managing partner at Dragonfly Capital
Dragonfly Capital
Episode: Crypto VC Is Not The Problem | The Breakdown
Nick Almond
Head of governance at the Jito Foundation.
Jito Foundation
Episode: Fintech Might Absorb Crypto | The Breakdown

Hosts

David Canellis
Host of the show, providing grounded analysis and commentary on cryptocurrency and macroeconomic topics.
NLW
Former host, known for his pragmatic insights into the crypto landscape and macroeconomic developments.
Nathaniel Whittemore
Previously a significant contributor to discussions around cryptocurrency and institutional adoption.

Reviews

4.8 out of 5 stars from 1.7k ratings
  • Interested in hearing how Bitcoin fits into today’s world?

    Imagine having an erudite acquaintance who tirelessly follows the stories you need to know about. Someone who trawls through the day’s news stories, distilling both the salient lessons and the social responses to them, and then delivers a concise summary that is a pleasure to listen to. Nathaniel Whittemore is that man, and The Breakdown is the result.

    2026 update: Nathaniel Whittemore has now left the show. My above recommendation does not apply to the new incarnation of The Breakdown. The sol... more

    Apple Podcasts
    3
    T o W S
    United Kingdom2 months ago
  • Different show as of February 2026

    I’ve been a long-time listener and really valued the format prior to February 2026. The shorter episodes covering top news and weekly sentiment were efficient and high-signal. The Friday Five in particular was often all I needed to stay current.

    The newer, longer interview format on nuanced topics doesn’t fit my listening style. I appreciate the work, but I preferred the previous structure.

    Apple Podcasts
    2
    RowboTony
    United States2 months ago
  • My first bad review

    I just can’t get into the show anymore. I miss NLW.

    Apple Podcasts
    4
    Yesse Golden Eye
    United States2 months ago
  • Hoping new host goes back to old format

    New format isn't nearly as good as last. It's cold, boring and long. I'm hoping it gets better as we go.

    Apple Podcasts
    2
    Disneyyensid
    United States2 months ago
  • Bad change

    This shift away from NLW is horrible. Nothing worth while in the first new show

    Apple Podcasts
    1
    VeteranFacts
    United States2 months ago

Listeners Say

Key themes from listener reviews, highlighting what works and what could be improved about the show.

The show is recognized for its ability to translate complex topics into digestible formats, catering to both novice and experienced listeners alike.
Some reviews mention dissatisfaction with format changes or perceived biases, reflecting a desire for consistent quality and neutrality in reporting.
Listeners appreciate the in-depth analysis of crypto and macroeconomic news, making the content insightful and relevant for understanding market trends.
There is a strong sentiment for the host's insightful perspectives, often calling it a must-listen for anyone interested in the digital asset space.

Chart Rankings

How this podcast ranks in the Apple Podcasts, Spotify and YouTube charts.

Apple Podcasts
#68
Italy/Business/Investing
Apple Podcasts
#180
Italy/Business
Apple Podcasts
#249
Germany/Business/Investing
Apple Podcasts
#94
Switzerland/Business/Investing
Apple Podcasts
#109
Taiwan/Business/Investing
Apple Podcasts
#143
Switzerland/Business

Talking Points

Recent interactions between the hosts and their guests.

Are We Measuring Crypto All Wrong? | Nick Almond
Q: What did you see as the core shift in how we value blockchains beyond traditional metrics?
We're moving from revenue- or user-centric metrics to a broader set that includes time in the market, Lindy effects, on-chain usage, and the ability to sustain resilience under attack, which together define a network's long-term value.
AI Agents and the Next Wave of Crypto Demand | The Breakdown
Q: So yeah, I mean, the topic that we're kind of unpacking is tokens and valuations and how to value these things as they roll out and as clarity is moving through Congress and out the other side.
The guest explains that token valuation hinges on future revenue expectations and, critically, on disclosures that reduce information asymmetry. He argues that open-source, on-chain data can substitute some traditional disclosures, and that value accrual will depend on demand and the ability of protocols to attract users, rather than solely on cash-flow metrics. He also notes that a broader ecosystem will spread value as AI agents become traction points across multiple chains.
Crypto, AI and the Permanent Underclass | The Breakdown
Q: What do you think the biggest synergy is between blockchain and AI?
Daniel points out that trust and verification will be key, as AI agents need reliable identity management and payment systems, which blockchain can provide.
Crypto, AI and the Permanent Underclass | The Breakdown
Q: So, how much of this is cope that maybe, you know, an AI primitive can save crypto from the blood in the streets?
Daniel explains that current selling is driven by Bitcoin miners transitioning to AI and sees potential for good synergy between AI and crypto.
Crypto’s Ownership Problem | The Breakdown
Q: How do you feel about that kind of comparison?
Paul Dylan-Ennis mentions that the comparison is unexpected but notes that the essay's framing has been influential and suggests that people are seeking more from the token economy than just passive ownership.

Audience Metrics

Listeners, social reach, demographics and more for this podcast.

Listeners per Episode
Gender Skew
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Frequently Asked Questions About The Breakdown

What is The Breakdown about and what kind of topics does it cover?

Content typically centers around the interactions between cryptocurrency, blockchain technology, and broader macroeconomic factors. Discussions focus on how crypto fits within the financial ecosystem, examining its relationship to traditional finance, fintech, and various regulatory challenges facing the industry. Notably, the series emphasizes the philosophical and cultural aspects of crypto, particularly the implications of emerging technologies like AI and decentralized finance on society. Its unique selling point is the ability to translate complex and technical information into easily digestible insights, making it a valuable resource for listeners seeking a deeper understanding of the crypto landscape and its evolving role in global m... more

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How many listeners does The Breakdown get?

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To see how many followers or subscribers The Breakdown has on Spotify and other platforms such as Castbox and Podcast Addict, simply upgrade your account. You'll also find viewership figures for their YouTube channel if they have one.

Which podcasts are similar to The Breakdown?

These podcasts share a similar audience with The Breakdown:

1. CoinDesk Podcast Network
2. Unchained
3. On The Brink with Castle Island
4. The Wolf Of All Streets
5. The Pomp Podcast

How many episodes of The Breakdown are there?

The Breakdown launched 7 years ago and published 2051 episodes to date. You can find more information about this podcast including rankings, audience demographics and engagement in our podcast database.

How do I contact The Breakdown?

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Where can I see ratings and reviews for The Breakdown?

Rephonic pulls ratings and reviews for The Breakdown from multiple sources, including Spotify, Apple Podcasts, Castbox, and Podcast Addict.

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What guests have appeared on The Breakdown?

Recent guests on The Breakdown include:

1. Yannik Schreit
2. Eric Sernicki
3. Catherine Gu
4. Paul Atkins
5. Bob Elliott
6. David LaJuan
7. Michael Mark Antonio
8. Haseeb Qureshi

To view more recent guests and their details, simply upgrade your Rephonic account. You'll also get access to a typical guest profile to help you decide if the show is worth pitching.

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