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, May 31st, and today we are continuing our coverage on this

Democrat pivot question mark when it comes to crypto. 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 at the

show notes or go to bit.ly slash

breakdown pod. Well, friends, it has been all crypto politics all the time for the last couple of weeks

ever since really former President Donald Trump started taking the crypto mantle. And the most

recent version of the story, which we covered at length yesterday, was reports that the Democrats

had started to shift their attitudes as well, making overtures

even from the White House and the Biden campaign to the crypto space. However, one of the big questions

is if this is indeed happening. How deep is the shift? How broad is the shift? How real is the shift?

And how are they going to prove it? Today we're going to look into a couple stories that somehow

relate to that.

We start with someone who is most distinctly not trying to bridge to the crypto industry, which is,

of course, Elizabeth Warren. Warren is back with another letter, this time to the DEA, that's

the drug enforcement agency for those who don't know, asking for an update on, quote,

actions to crack down on drug traffickers exploitation of crypto to grow their businesses

and launder their ill-gotten gains. Warren's central argument in the letter is that, quote,

cryptocurrency has played an increasingly prominent role in the global fentanyl trade over the past

decade, both in terms of facilitating the manufacturing and trafficking of fentanyl and in laundering

...