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, October 5th, and today we are talking all about the opening arguments in the early witnesses in the SBF trial.

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breakdown pod. Hello, friends, happy Thursday. As I mentioned a couple days ago when we did a

primer on this trial, I am very much hoping that the SBF coverage will not be every day

throughout the course of the

entire four to six weeks of the trial. In conversations with you guys, most of you wanted a

comprehensive update every couple of days, and I think that that's right. Now, the challenge is,

of course, that right now, especially with it having just started and hearing these early arguments,

it is really by far

in a way crowding out every other story in the crypto space. So much so that I actually think

that we're going to start to see some take out the trash type stories. In other words,

stories that people have to get out there but they want buried be released over the next couple

days. For example, I think I just read that Ledger had some cut,

something like 12% of their staff. That's exactly the type of story that you're going to get,

as everyone's paying attention over here to the crazy courtroom drama happening in Lower Manhattan.

So given all that, today is an SBF trial day, and effectively we're going to do a play-by-play of the first couple days and then try to understand what it says about the case to come.

Now, technically things started on Tuesday with jury selection, but that actually wasn't finished by the time that court adjourned on Tuesday night.

Because of that, Wednesday's hearing began with the final stage of jury selection.

All in all, 12 jurors were selected, nine women and three men, along with six alternates.

...