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 Wednesday, July 3rd, and today we are talking about some serious

crypto marketing spending. Before we get into that, however, if you are enjoying the breakdown,

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Hello, friends. Today is July 3rd, obviously just one day before the July 4th holiday in the U.S., which means that things are a little bit quiet. Today then, I thought it would be

interesting to look at two main stories, both of which in some way or another give us a little

bit of a state of play for crypto right now.

We're going to kick it off with the discussion that has been dominating the Twitter sphere,

which is polka dot's marketing spend.

Given that at this point, I have still probably allocated more marketing dollars than just about

anyone else in crypto, I thought it would be interesting to dig in and give you my perspective

on all of the hullabaloo that has engulfed the X conversation. Now, I thought it would be interesting to dig in and give you my perspective on all of the

hullabaloo that has engulfed the ex-conversation. Now, I have missed this, but many of you,

it seems, have noticed a massive wave of advertising for Pocod this year. They've had ad-saturating

crypto podcasts. They've been plastered across influencers' Twitter accounts. According to a

new Treasury report, Pocodot has spent

five times more on outreach during the first half of this year than they did in the previous

six months. They've spent around 37 million on outreach so far this year, which includes spending

on advertising events and business development. Overall, that represents around 42% of overall

...