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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 Friday, March 31st, and today we're talking about Elizabeth Warren

declaring war on crypto. A quick note before we dive in, there are two ways to listen to the breakdown podcast.

You can hear us on the Coin Desk Podcast Network, which comes out every afternoon and features other

great Coin Desk shows, or you can listen on the breakdown-only feed, which comes out a few hours

later in the evening. Wherever you listen, if you are enjoying the show, I would so appreciate it

if you would take the time to leave a rating or review, it makes a huge difference.

All right, folks, well, happy Friday and not just Friday, but the last day of the month

and the last day of the quarter. And boy, what a quarter it was. Going into this year,

the smart money was betting on a pretty rough time of it. December was all just the very beginning of cleanup of

the fallout of FTX, and nearly everyone assumed that there would be a big, loud, and

potentially price-depressing regulatory response as well. Well, folks were right about the antagonism,

as is the subject of today's show, but boy were the bears wrong about the price.

...