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 sponsored by crypto.com, BitStamp, and nexo.io, and produced and distributed by CoinDesk.

What's going on, guys? It is Thursday, August 20th, and today we are talking about the most

pro-Bitcoin politicians in the U.S. It is that unfortunate season known as convention season, first up are the Democrats

this week and then the Republicans next week. And if that gives you the tremors, you are not alone.

But to keep the spirit of talking politics, but to maybe bypass the ridiculousness and

showmanship we can expect over the next couple weeks,

I thought it would be fun to go look at the statements and records of a few of the politicians

across both aisles who are actively investing in a Bitcoin and Crypto Future. So that should be fun.

First, however, let's do the brief.

First up on the brief today, our reliance on the Fed.

So what happened? Yesterday, the minutes of the last Federal Open Market Committee meeting

were published, and basically the key line was this one. Many participants judged that yield

caps and targets were not warranted in the current environment

but should remain an option. What this effectively is saying is that the Fed is not looking at

yield curve control right now. And really, I thought that John Authors from Bloomberg did a great

job of summarizing the market's reaction. He wrote, what reverberated with the markets was the language about yield curve control.

If many participants don't think it's needed, that is a strong hint that it isn't happening.

And a separate sentence told us, of those participants who discuss this option,

most judged that yield caps and targets would likely provide only modest benefits of the current

environment. Not only is yield curve control not warranted many of them think, but it wouldn't

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