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 Tuesday, October 31st. Happy Halloween. Today, we are talking about

Sam Bankman-Freed on cross-examination. Before we get into that, however, if you are enjoying the breakdown,

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Hello everyone. First, let me say before we get into more SBF, a big happy 15th birthday

to the Bitcoin white paper. Crazy to think that that was 15 years ago, a decade and a half of Bitcoin, here is to many, many more.

All right, well, we are firmly down in the muck with SBF, and if yesterday's show was all about

Friday's prepared testimony and direct examination, and specifically how Sam contradicted the

previous testimony of Caroline, Gary, and Nashad,

Monday's testimony and today's show is all about the cross-examination.

Just to level set a little bit for how that went, here's how Laura Shin described it.

Hey, everyone, we just got out of the courthouse, and I think it's pretty fair to say that at this moment it just feels

like it's over for sam bickman freed um honestly if before lunch it felt like we were witnessing a

murder um then afterward we were witnessing somebody just stab a dead body over and over and over and over

and over again um basically daniel Danielle Sassoon again trotted out

multiple statements that Sam Pinkfraid made and multiple statements where he contradicted those

statements, you know, was often evasive. She just caught him in so many things. All right, so let's

dig into this. Technically, yesterday began with the end of the direct examination.

There were a few things covered. One was this hedging defense that somehow everything would have

...