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 26, and that means it's time for the Friday 5. 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 of the show notes or go to bit.ly slash breakdown pod. All right, friends, welcome back to another Friday 5. Today we are talking about

everything from Tether's monster fundraising to the SEC getting out of the way. Lots and lots of to

discuss. So enough yapping for me here so you can hear me yap over there. Good morning, everybody,

and welcome to yet another bloody Friday in crypto markets, Bitcoin trading in the 109,000's levels.

We were never supposed to see again. We were supposed to be a 250,000 by now last I checked.

Predictions not looking as strong as they were. Good morning, sir. How are you today?

Good. What's happening? A lot is happening, actually. And one of the biggest stories, certainly,

of this week is that crypto giant Tether seeks funding at $500 billion valuation, looking to raise

$20 billion. This would make them effectively the largest big name private company in the world,

larger than Open AI, larger than SpaceX. I mean, this is

absolutely massive. And from what I read, the chairman of Tether would become the fourth

wealthiest person in the world with Tether at a $500 billion valuation. I was today years

old when I realized that was not referring to Paloara, but to some other guy. Yeah. Tether

continues to be a mystery, even for those of us who spend every day

talking about them. No, I mean, it's a massive number. It's important to caveat that this is

sort of what they're floating, could end up being beaten down a little bit. But yeah, it's, I mean,

just a massive signal of how valuable stable coin infrastructure is and what power these companies have.

And they're doing it with roughly 100 employees?

Yeah.

I mean, the ratio is absolutely insane.

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