Welcome back to The Breakdown with me, NLW.

It's a daily podcast on Macro, Bitcoin, and the Big Picture Power Shifts remaking our world.

What's going on, guys? It is Sunday, October 8th, and that means it's time for Long

Read Sunday. Before we get into that, however, if you are enjoying The Breakdown, please go

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Hello friends. Welcome back to the breakdown. As you might imagine, a huge portion of people's commentary and op-ed writing this week is about SBF in the trial. But man, we are doing a lot of coverage

around that. And I kind of get a chance to editorialize constantly about it. So I wanted to do

something different,

although it may be a little less unrelated than it might at first seem. Today's long read is

going to come from Twitter. It's around a viral thread by analyst Dylan LeClair, which has some

pretty serious allegations around Justin's son and Huobie. Now, I am not presenting this as

definitive. I'm not presenting this as smoking guns. I'm

presenting this because I think it's imperative in the world that we live in now, the post-SAM

world, to be just a little bit more cautious, to pull on threads that seem strange, to explore

and dive in and use the tools of on-chain analysis

that we have available to us, to ask if the leaders in the space are behaving the way that

they're supposed to be behaving. I think unfortunately for exchange owners, and for basically

any other leaders in the space, they're just going to have to answer more questions now than

they might have needed to in the past.

I think that many of us have a sense that had we asked harder questions of people like Sam,

...