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 Tuesday, October 10th, and today we are getting into Gary Wang's

testimony at the SBF trial. It was not a pretty sight at the end of last week for Sam, and so we will

be discussing all of that. 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 breakdown Discord.

You can find a link in the show notes or go to bit.ly slash breakdown pod.

All right, guys, before we get into the Gary testimony, I want to address what is obviously

the biggest event of the last few days and how I'm thinking about covering it on the show.

I saw a tweet this morning from Mr. Family Office and it said this. I was on an early morning

portfolio review call with an investment bank today. I'm always struck by how cold and clinical

these guys can be in the face of world events. Quote, the events in the Middle East,

unquote. And then straight into portfolio implications,

the macroeconomic impact, scenario planning to protect and grow capital. Nothing on the human

costs, the tragedy, the injustice. I'm not saying they should be commenting on the human

toll. They're doing their job and doing it well. But it still feels cold how quickly bankers

shift to the financial ramifications of tragic events.

So, obviously the biggest event of the last few days is Hamas' attack on Israeli civilian and

military targets and the subsequent declaration of war. Now, the breakdown is, of course,

a show about big-picture power shifts, and war tends to create exactly those types of shifts.

However, at the same time, this is not primarily a show about

geopolitics and conflict, but about economics with a special focus on crypto and Bitcoin. So when it

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