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The Breakdown

Blockworks
Bitcoin
Stablecoins
Federal Reserve
Ethereum
Coinbase
SEC
Crypto
Tether
Inflation
Microstrategy
Circle
Jerome Powell
Gold
Crypto Regulation
Cryptocurrency
Market Structure Bill
Genius Act
Polymarket
Tokenization
Solana

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

PublishesDailyEpisodes2075Founded8 years ago
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InvestingBusiness

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Artwork for The Breakdown

Latest Episodes

BlackRock's IBIT is sitting about $13 billion underwater on its Bitcoin holdings. Every ETH ETF is in the red. David walks through which funds bought the top, which took profit, and what happens to crypto if ETF holders finally crack. Plus: a preview... more

Pump.fun just rolled out Pump.fun Go — a bounty platform that pays you crypto for filming yourself doing… well, whatever. David on why this might actually matter for the next retail cycle. Plus: the coins quietly pumping through the bear, and the sta... more

A critical bug in Zcash's Orchard shielded pool could have minted unlimited counterfeit ZEC — and it sat there for 4 years. The price has lost ~47% in three days. David walks through what happened, why ZK trust keeps mattering, and what it means for ... more

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Everyone's saying crypto has been left behind by the stock market. David digs into the numbers — VVV outperformed SanDisk YTD, Hyperliquid beat NVIDIA and AMD, Stellar beat NVIDIA. The market is selecting winners. Plus: $4B of Bitcoin ETF outflows in... more

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Recent Guests

Ben Serra
Founder of Polsia, an AI-driven company builder
Polsia
Episode: Is This $250M AI Company Fake?
Dankrad Feist
Ethereum Foundation researcher and advisor to Eigenlayer
Ethereum Foundation / Eigenlayer
Episode: Hyperliquid Hits ATH, XRP ETF Flows, and a $1B Pitch to Save Ethereum | The Breakdown
Nick Bax
Crypto analytics and forensic specialist
CL911
Episode: How Crypto Is Fighting Back Against North Korea | The Breakdown
Weekee Tiew
Co-founder of Virtuals Protocol
Episode: Can AI Actually Trade Crypto? | The Breakdown
Kevin O'Leary
Famed investor, Mr. Wonderful on Shark Tank
Self/Various ventures
Episode: Kevin O’Leary on AI, Data Centers, and Why He Sold 27 Crypto Positions | The Breakdown
Jordan Liu
Co-founder of AI Payments, AIsa
AIsa
Episode: Are AI Agents Actually Using Crypto? | The Breakdown
Stephen Miran
Federal Reserve Governor
Federal Reserve System
Episode: Fed Governor Miran on Why Inflation Fears Are Overstated | Forward Guidance
David Lawan
Head of Research at Anchorage Digital
Anchorage Digital
Episode: The Crypto-TradFi Convergence | Inflection Point
Matt Hogan
Chief Investment Officer at Bitwise
Bitwise
Episode: The Crypto-TradFi Convergence | Inflection Point

Host

David Canellis
Host of The Breakdown

Reviews

4.8 out of 5 stars from 1.7k ratings
  • Meh

    Meh

    Apple Podcasts
    2
    kfixbwhdisa
    United Statesa month ago
  • 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 Kingdom4 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 States4 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 States4 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 States4 months ago

Listeners Say

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

Insightful, data-driven crypto coverage with practical takeaways for investors and builders.
Will miss NLW-era format; hosts maintain solid coverage and industry context.
Balanced, thoughtful macro and crypto analysis that stays away from hype.

Chart Rankings

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

Talking Points

Recent interactions between the hosts and their guests.

How Crypto Is Fighting Back Against North Korea | The Breakdown
Q: What practical steps can individuals take to protect themselves given the prevalence of social engineering and SIM-swaps historically?
Advice centers on hardware wallets for those under a million dollars, pursuing OPSEC services for high net-worth individuals, and recognizing that education, cautious practices, and using secure tooling are essential as attackers constantly evolve.
How Crypto Is Fighting Back Against North Korea | The Breakdown
Q: Can you walk us through what happened during the Arbitrum/KelpDow incident from a security operations perspective?
Nick Bax describes triage like medical emergency response, freezing funds, identifying attackers, and the need to understand where the money is to prevent further loss, emphasizing that even when the code is improved, social and operational factors often drive breaches.
Kevin O’Leary on AI, Data Centers, and Why He Sold 27 Crypto Positions | The Breakdown
Q: What is your view on how crypto fits into a world dominated by AI and rapid tech advancement?
Crypto fits as a prudent, liquid allocation within a diversified portfolio, with particular focus on established assets like Bitcoin and Ethereum; institutional adoption hinges on regulatory clarity and market structure, while speculative tokens largely lack sustainment unless they have clear utility and demand.
Kevin O’Leary on AI, Data Centers, and Why He Sold 27 Crypto Positions | The Breakdown
Q: What actually makes an investible AI company?
Investable AI companies balance measurable impact, such as margin enhancement and productivity gains, with a clear path to meaningful adoption and revenue, supported by leadership that can execute in real markets; diversification and risk management remain essential.
Fed Governor Miran on Why Inflation Fears Are Overstated | Forward Guidance
Q: How do you think about the oil shock and its relevance to policy settings given the lags of monetary transmission?
Oil shocks push headline inflation up in the short term, but their effects on the real economy and inflation expectations further out are much less certain; policy should focus on 12-18 month horizons as the main channel for any adjustments.

Audience Metrics

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

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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?

This show delivers concise, data-driven analysis of crypto, blockchain, and macro market forces, often pairing sharp industry insights with in-depth conversations. Episodes frequently explore governance design, on‑chain infrastructure, security, and the evolving relationship between technology, policy, and markets, with a steady stream of interviews from operators, researchers, and notable investors. A recurring strength is connecting complex ideas—like token-based governance, AI-enabled finance, and asset tokenization—to practical implications for builders, funds, and regulators. The format has a track record of combining timely market updates with longer, exploratory conversations, making it valuable for listeners who want both quick cont... more

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Which podcasts are similar to The Breakdown?

These podcasts share a similar audience with The Breakdown:

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

How many episodes of The Breakdown are there?

The Breakdown launched 8 years ago and published 2075 episodes to date. You can find more information about this podcast including rankings, audience demographics and engagement in our podcast database.

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What guests have appeared on The Breakdown?

Recent guests on The Breakdown include:

1. Ben Serra
2. Dankrad Feist
3. Nick Bax
4. Weekee Tiew
5. Kevin O'Leary
6. Jordan Liu
7. Stephen Miran
8. David Lawan

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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