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 sponsored by nexo.io, Circle, and FtX, and produced and distributed by CoinDesk.

What's going on, guys? It is Monday, October 10th, and today we are talking about the

dust-up with PayPal over the weekend. 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 in the show notes or go to bit.ly slash

breakdown pod. Also a disclosure as always. In addition to them being a sponsor of the show, I also

work with FTX. All right, folks, how are you? I hope your weekend was lovely, and that you are ready

for another fun week in

markets. Now, you'll remember that last week, markets started quite optimistically. There was a two-day

rally that had everyone excited. However, it was for not, and by the end of the week, the Fed had trotted

out a slew of officials to disaffow investors of any remaining optimism.

This week's stocks opened lower, and there are a few things going on with the rough start.

The first, of course, is that people are still focused on what the Fed will do next, and assimilating

all the information from speakers we got last week.

Goldman Sachs wrote, we continue to expect that the Fed will hike by 75 basis points in November, 50 basis points

in December, and 25 basis points in February to reach a terminal forecast of 4.5 to 4.75%.

Drages on growth in inflation from a stronger dollar and slower global growth should

help keep the economy on a below potential growth path and make a

noticeable if partial contribution to lowering inflation. TLDR, more of the same. And no Fed pivot.

However, this week, markets have a slightly different focus. Third quarter's earning season is

...