I don't think we deserve a full bear market this time.

So my heuristic for sort of crypto bare markets is, do we deserve it?

Is there enough scam that needs to be purged from the system?

And I don't feel like we deserve it this time.

For the first time, every previous bear market I felt like, yeah, we absolutely deserved that.

There's too much potential, there's too much moving at the big scale for it to feel like completely hopeless at this point.

Welcome to The Breakdown. I'm your host, David Canellas. The following conversation flows on from a recent episode which explored the growing relationship between CryptoInfinTech and the tension over which camp stands to benefit the most as global finance moves on chain. For the best viewer experience, it's worth going back and checking it out if you missed it. And don't forget to hit like and subscribe so you don't miss anymore.

And with that out of the way, let's start the show.

Nothing said on the breakdown is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only and any views expressed by anyone in the show are opinions, not financial advice. Host and guests may hold positions in the company's funds or projects discussed. With me is returning guest Nick Armand, their head of governance at the Judo Foundation.

Welcome back, Nick.

Hi, David.

Good see you again.

Cool.

Okay. So the topic of today is, yeah, fintech and whether crypto is becoming fintech or the other way around, whether fintech is going crypto. So I suppose a good way to start this is, you know, Solana is so crypto-native and Jito itself is also

crypto-native within that context too.

So do you feel like you're working in fintech or do you feel like you're working in crypto these

days?

It's an interesting question.

I do feel like Jito feels very crypto to work at.

Attitude, sort of the pace, frontier technology.

It certainly doesn't feel like what I conceptualize fintech as. Is it getting more institutional?

Is more of the conversation becoming about how we interact with institutions and is more of it

...