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, September 6th, and today we are doing an early long

reads. Before we get into that, however, if you are enjoying the breakdown, please go subscribe to it,

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slash breakdown pod. All right, friends.

Like I said, we were doing a little bit of an early long reads this week. I'm traveling this

weekend because I am turning 40. Feel free to send me all of your well wishes on Twitter.

But this week, there was such a clear number one with the bullet LRS contender that I was

thrilled to dig into this. This week's LRS comes from

Travis Kling, a prominent crypto investor as well as a really interesting thinker. You might

remember a few months ago, we read his thread, a lack of pretense that any of the shit does

anything or will ever do anything, and after that, financial nihilism, the zeitgeist of

Young America. Well, this is a new one, and Travis that, financial nihilism, the zeitgeist of Young America.

Well, this is a new one, and Travis writes,

On the heels of pretty atrocious vibes this summer for crypto, I'm publishing part three in a

series. It's called pervasive quiet quitting. So let's dig in and see what Travis has to say.

He writes, I've been focused on crypto for seven years now, running Aikai for 6 plus. I've got a reasonably

big network in American crypto and talk to dozens of crypto folks on a regular basis.

There has been an attitude, a stance that I have recently observed or been told about with

such frequency that it must be a trend. Crypto is experiencing pervasive quiet quitting.

...