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 Saturday, July 8th, and that means it's time for the weekly recap.

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Well, as I said yesterday, I had all these best laid plans that were completely blown out

of the water by news events that happened. Yesterday, it was, of course, all about finance,

and as I was finishing that story, another shoe dropped. You will no doubt remember,

earlier in the week, that Cameron Winkelvoss and Gemini threatened to sue Barry Silbert and his digital currency group.

The open letter that they shared threw around a lot of very accusational words, including,

of course, that big F word fraud. The gist of their argument was that Barry was just

playing for time and that he never intended to reach any sort of actual settlement when it

came to all of Genesis's and DCG's debts, including the one that mattered most to them,

the $1.2 billion owed to Gemini earn users. Now, there were a number of different reactions to this.

One of them was that the audience of this letter wasn't actually Barry but in fact earn users,

whether that was to cynically shift blame away from Gemini's role in all of this,

or less cynically that Cameron and Gemini just wanted to be seen as fighting for their users.

Now, the second response to Cameron's open letter was actually a question. That was,

if you're serious, why not just file the damn lawsuit? Now, I had said in a previous episode that

the biggest reason for them not to was that it would be a pretty dramatic step that could

...