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The Breakdown

Blockworks
Bitcoin
SEC
Etfs
Coinbase
Kraken
Ethereum
Bitcoin Etfs
Craig Wright
Elizabeth Warren
Bank Of America
Vanguard
Finance
Wells Fargo
Blockchain
Stablecoins
February
Ledger
Satoshi Nakamoto
Tron
Circle

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

PublishesDailyEpisodes2044Founded7 years ago
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InvestingBusiness

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Artwork for The Breakdown

Latest Episodes

As a new season of The Breakdown approaches, David takes a moment to introduce himself and explain how he thinks about Bitcoin, crypto culture, and the industry’s next phase.

Follow David: x.com/dcanellis

Get top market insights and t... more

Marc Arjoon joins the show to discuss how institutional flows, ETF market structure, and the changing economics of Bitcoin mining are reshaping the market.

As always, remember this podcast is for informational purposes only, and any views expressed ... more

From miners to institutional buyers, David breaks down why Bitcoin’s halving cycle may still shape the market — even if the supply shock itself is fading. Plus, a conversation with Marc Arjoon.

As always, remember this podcast is for informational p... more

How should crypto tokens be valued? Haseeb Qureshi breaks down why cash-flow rights won’t “fix” prices, and how AI agents transacting on-chain could drive the next wave of demand.

As always, remember this podcast is for informational purposes only, ... more

Key Facts

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Recent Guests

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
Paul Dylan-Ennis
Lecturer and Assistant Professor at the University of Dublin School of Business
Episode: Crypto’s Ownership Problem | The Breakdown
Nick Almond
Head of Governance for Jito Foundation
Jito Foundation
Episode: The Myth of the “Most Used” Blockchain | The Breakdown
Andrew M. Bailey
Professor of Philosophy at the University of Singapore and Senior Fellow at the Bitcoin Policy Institute
Bitcoin Policy Institute
Episode: Why Privacy Coins Aren’t Enough | The Breakdown
Aubrey Strabel
Co-founder of Halcyon, a new crypto-focused PR firm
Halcyon
Episode: What FTX Marketing Was Actually Trying to Accomplish
Elena Nisenoff
Co-founder of Halcyon, a new crypto-focused PR firm
Halcyon
Episode: What FTX Marketing Was Actually Trying to Accomplish
Dan Tapiero
Friend of the show and crypto investor predicting growth in the crypto ecosystem.
50T
Episode: Crypto's Institutional Summer: Perps, Policy, and the Ethereum Surge

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 Kingdom25 days 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 Statesa month ago
  • My first bad review

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

    Apple Podcasts
    4
    Yesse Golden Eye
    United Statesa month 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.

Talking Points

Recent interactions between the hosts and their guests.

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.
Why Privacy Coins Aren’t Enough | The Breakdown
Q: What do you think that I kind of got wrong or what am I missing here?
I don't think you're missing anything... anybody talking about privacy online begins and maybe even ends with a lament, because the news just doesn't appear to be very good.

Audience Metrics

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

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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.

How many episodes of The Breakdown are there?

The Breakdown launched 7 years ago and published 2044 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?

Our systems regularly scour the web to find email addresses and social media links for this podcast. We scanned the web and collated all of the contact information that we could find in our podcast database. But in the unlikely event that you can't find what you're looking for, our concierge service lets you request our research team to source better contacts for you.

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What guests have appeared on The Breakdown?

Recent guests on The Breakdown include:

1. David LaJuan
2. Michael Mark Antonio
3. Haseeb Qureshi
4. Paul Dylan-Ennis
5. Nick Almond
6. Andrew M. Bailey
7. Aubrey Strabel
8. Elena Nisenoff

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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