Bhutan Times the Top, CLARITY Hits Markup, and the Onchain Pokemon Card Boom | The Breakdown

The Breakdown

Blockworks

Investing, Business

4.8 • 806 Ratings

🗓️ 13 May 2026

⏱️ 33 minutes

🔗️ Recording | iTunes | RSS

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Summary

Bhutan timed the Bitcoin top almost perfectly. The CLARITY Act may only let 10–20 chains qualify as “decentralized.” And onchain Pokémon cards are popping off. David runs through all three. TIMESTAMPS: (00:00) Intro (01:31) Bhutan Sells (06:37) Nexo Ad (07:12) Bhutan Sells (Cont.) (14:39) CLARITY Markup (15:40) Nexo Ad (16:31) CLARITY Markup (Cont.) (25:30) Onchain Pokemon Card Boom FOLLOW THE SHOW › David — https://x.com/dcanellis › The Breakdown — https://x.com/TheBreakdownBW SPONSORS › NEXO Nexo is the premier digital wealth platform. Receive interest on your crypto, borrow against it without selling, and trade a range of assets. Now available in the U.S with 30 days of exclusive privileges. Get started at http://nexo.com/breakdown Get top market insights and the latest in crypto news. Subscribe to the Blockworks Daily Newsletter: https://blockworks.co/newsletter/ DISCLAIMER As always, remember this podcast is for informational purposes only, and any views expressed by anyone on the show are solely their opinions, not financial advice.

Transcript

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0:00.0	It is Wednesday, May the 13th. This is The Breakdown. I'm your host David Canellas. We've got a few
0:05.3	quick stories for you this morning to get you ready for the hump day ahead. We have clarity
0:12.8	is finally headed to markup in Congress, which means they're going to debate it. They're going to
0:17.3	amend it. They're going to push it forward. Hopefully we're going going to find out we're going to look into the latest on that.
0:23.6	We're also looking at the Kingdom of Bhutan, their sovereign fund, Drew Holdings,
0:28.1	offloading their Bitcoin seemingly endlessly right now.
0:32.2	We're going to take a look at the numbers and see how those sales stack up against other selling miners and against
0:39.2	strategies upward momentum. We're also going to be looking at on-chain Pokemon cards,
0:45.8	heller bullish. NFTs might not be back, but figital cards. Real world collectibles. You've
0:53.1	heard of real world assets. Now it's real world collectibles.
0:56.4	They're popping off. We're going to take a look, close look at what's going on over there.
1:01.1	So without further ado, this is the breakdown. Let's get to it.
1:08.2	This episode is brought to you by Nexone. Step into a new era of digital wealth. Earn interest on your digital assets.
1:14.4	Borrow against them without selling and trade all in one platform. Get started at nexo.com slash breakdown.
1:19.9	Nothing said on the breakdown is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only and any views expressed by anyone on the show are opinions, not financial advice.
1:27.5	Host and guests may hold positions in the company's funds or projects discussed.
1:30.3	Okay, so first up, let's take a close look at what Bhutan is doing because
1:34.5	Bhutan, you know, it was big news when a sovereign kingdom like Bhutan started mining Bitcoin
1:43.1	a few years ago.
1:44.3	And it wasn't just Bitcoin that they were doing.
1:46.4	They were also, they also were involved in deposits to Celsius.
1:51.5	They're also Ethereum validators.
	...

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