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.

The breakdown is sponsored by Nidig and produced and distributed by CoinDes.

What's going on, guys? It is Friday, October 8th, and today we are doing a bit of a

grab bag, extended brief type episode. This week has been so chock full of things happening

that I haven't had a chance to talk through a number of different

stories that are all reasonably important on their own terms. So let's dive in to the show.

First up, let's talk about US Bank. US Bank is the fifth largest bank in the US, and they have made

a major move into the crypto sector.

They have just announced that they're launching custody for crypto assets.

Now, it is sort of a random set of digital assets that suggest that maybe their clients

have been holding for a while and need different terms, so they're going to be custodying

Bitcoin, which makes sense. They're also

going to be custodying light coin and Bitcoin cash, which don't strike me as necessarily the highest

in-demand assets right now. They also say that Ethereum is in the works. It's an offering for

private fund managers in the U.S. in the Cayman Islands, so not just a retail offering or anything

like that. And it's being supported and

enabled by, big surprise, this show's sponsor, Nidig, who are quietly enabling Bitcoin

and crypto infrastructure for it seems like half of the financial institutions in this country now.

So why this matters? Well, it's one thing for these very big traditional banks to give

lip service to the importance of this industry,

it's another thing entirely for them to actually build the infrastructure to offer products

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