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 Wednesday, April 26th. And today, we are talking about

Binance basically being done with the U.S. and Coinbase suing the SEC. Now, before we dive in,

a couple quick housekeeping notes. First of all, if you're on Twitter, you might have seen that I

have relaunched a breakdown newsletter. Every morning, we're sending seen that I have re-launched a Breakdown newsletter.

Every morning, we're sending out what we're calling the first five.

It's the five most interesting or important stories in and around Bitcoin, crypto, macro.

Or just interesting big picture power shifty type things that we are catching on the internet.

It's fun, fast, and I think you'll like it. Go to Breakdown.B-H-E-E-H-I-I-V-com, and you can find that newsletter.

Second, as always, I'd love you to come join the Breakers Discord. It's the place where we talk about,

all of this stuff, drop memes, have a grand old time, and you can find it at bit.ly slash breakdown pod.

Lastly, if you want more, big picture power shifts, go check out the other breakdown network

shows.

Bitcoin Builders has a new episode coming out later today, which I'm very excited about,

and the AI breakdown is putting out episodes every day at this point.

All right.

So to today's show, as you know, yesterday's episode was a big old paradigm shift interview with Real Vision's Raul Paul.

Because of that, we missed a piece of news that has gotten a ton of people excited, which is, of course,

Coinbase's lawsuit against the SEC. Now, I've been talking for over a year about how it feels like the crypto industry's

only viable path at the moment to get resolution on key issues is litigating, and being

specifically willing to litigate against regulators. This is the route that the digital

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