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 Thursday, August 22nd, and today it appears that maybe we actually

have a wink at a real Democrat crypto pivot. Before we get into that, however, if you are enjoying

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As you will well know at this point for several weeks, if not more, the crypto industry has been tuned in for any sign of a crypto pivot from the Kamala Harris campaign.

Along the way, there have been small rumors and a little discussion,

but nothing that comes close to a commitment. This period culminated with crypto being

entirely absent from the Democratic platform that was released earlier this week. And the prevailing

take has been that talk is cheap, and people want to see tangible action to demonstrate if the

party is actually shifting. Well, we did not get action per se,

but on Wednesday we got a little more talk that could be a sign that something is happening.

During a Bloomberg event, senior campaign advisor Brian Nelson was asked directly about Harris's

views on crypto policy. He responded, she's going to support policies that ensure that

emerging technologies and that sort of

industry can continue to grow. Now, to be clear, this is the same style of communication we've seen

so far, of ag reference to being supportive of innovation and emerging tech, but nothing concretely

about crypto. However, in this particular case, the messenger might be more important than the message.

Nelson was a key Biden administration staffer who was hands-on

during the crypto crackdown. He served as the Treasury Undersecretary for Terrorism and Financial

...