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 Sunday, April 30th, and that means it's time for Long Reads Sunday.

A couple quick notes before we dive in. First of all, there is an excellent breakdown community that I would love you to be a part of.

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All right. With that out of the way, let's get to our Long read Sunday. Now, regular listeners will have heard me

reference a number of times, a recent essay in foreign affairs by Professor Hillary Allen called

the case for banning crypto. Hillary Allen is a professor of law at American University,

and she has appeared numerous times in front of Congress as a congressional witness about the

crypto industry. The point being that she's not some fly-by-night critic, she is a respected and

legitimate voice in Washington, D.C. Her argument is quite clear in this piece. It's that, as the

subtitle says, blockchain's risks far outweigh its rewards. I don't need to go through piece

by piece or line by line. A few weeks ago, I read a couple of rebuttals. It is notable that she

threw many of the arguments that crypto advocates have right back in their face, including

the idea that America could lose leadership and push crypto companies overseas. Alan basically says we shouldn't want them here because this isn't an industry we should

want to be a leader in. Anyways, I don't think that the point of this piece was actually

Hillary Allen thinking that she could get people to ban crypto. I think the point of this

...