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.

The breakdown is produced and distributed by CoinDesk.

What's going on, guys? It is Sunday, January 22nd, and that means it's time for Long

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

subscribe to it, give it a rating, give it a review, or if you want to dive deeper into the

conversation, come join us on the breakers discord. You can find a link in the show notes or go

to bit.ly slash breakdown pod. All right, friendos, we are... conversation. Come join us on the Breakers Discord. You can find a link in the show notes or go to

bit.ly slash breakdown pod. All right, friendos, we are going to do something a little bit more

positive to close out this week. No more bankruptcy talk, at least for a little while.

We're going to read a couple different pieces, and we're going to start with a piece by Michael

Casey, CoinDesk's chief content officer, called Worldwide Grassroots Projects can lead crypto recovery.

The subheader reads, crypto is not hurting lower income in marginalized communities, but instead

providing them with new tools through innovative governance models and tokenomics to regain

control from historically oppressive financial systems.

During the House Financial Services Committee's FTX hearings last month,

Representative Jesus Garcia, Democrat from Illinois, described crypto as an entire industry

that thinks it's above the law, and then said something that irked me even more than that

unhelpful opening generalization.

Crypto companies, quote, are making money using one thing, hype, Garcia said.

And when hype runs out, and ordinary investors, especially late comers, who are disproportionately low-income, black, and Latino, lose. Now it's true that many people of color bought

crypto in recent years, and that by extension,

...