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 29th, and that means it's time for the weekly recap.

A quick note before we dive in. I mentioned this yesterday, but I am looking for a research assistant

specifically for the AI show. This is a role that would help craft newsletter content,

as well as video and podcast content. And so if you are someone

who is obsessed with AI and keeping track of the latest tech developments, and particularly if you're

someone who either lives in the APAC region or Australia or who just really likes working all night,

send a note to jobs at breakdown.network. The second quick thing is today's show is, of course, again, brought to you by

in Wolf's clothing. Wolf is the startup accelerator for Bitcoin and Lightning companies,

and its goal is to give companies that are changing the world with Bitcoin the absolute best

tools they can, including mentorship, advice, and of course, funding. Right now, they are accepting applications

for their third cohort this fall, so if you're interested, go to wolfnYC.com. Thanks again to those guys

for supporting the breakdown, and with that, let's get to what was a very busy week.

Today is going to be a bit of a grab bag catching up on stories that were important, but we haven't had a chance

to cover yet. And we kick off with a fiery tweet from venture capitalist Nick Carter. He writes,

this is such an evil little text, basically threatening audit firms with enforcement actions

if they do business with crypto companies. They want to strip crypto of all institutional

infrastructure and trust provision. Regulatory

demolition job. So what was Nick talking about? On Thursday, the SEC's chief accountant Paul

Munter published a statement on the hazards facing accounting firms who take on crypto clients.

Now, while the communication was framed as a warning, a simple warning, to accounting professionals,

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