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 Friday, February 9th, and today we are talking about, well,

something I find enormously frustrating, so you're going to want to hear it. 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. Well, friends, happy Friday. Some days we talk about things of great

import here at the breakdown, important policy discussions, the implications for executive and agency

power. Other days, we get to just have fun. For example, this week talking about the surge and

excitement in Bitcoin. And then there are some days when we just have fun. For example, this week talking about the surge and excitement in Bitcoin.

And then there are some days when we just have to talk about some utter joke of an organization

that is only relevant because of how fully it has become a stooge for anti-crypto forces.

Yes, today we are back talking about Prometheum.

Prometheum have announced their roadmap for product launches this year.

The firm claims they will offer institutional Ethereum custody in late March,

followed by their trading platform in the second quarter.

There is some concern that this product could allow the SEC to declare Ethereum to be a

security after years of regulatory ambiguity.

Prometheum achieved notoriety last year by cozying up to the SEC.

The firm, which was completely unknown at the time, was handpicked to represent the SEC's

viewpoint in a congressional hearing.

They were cast as the example to demonstrate that SEC registration is entirely possible.

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