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, June 22nd, and today I welcome back to the breakdown, Dan Tapiero.

Before we get into that conversation, however, if you are enjoying the breakdown, please go

subscribe to it, give it a rating, give it a review, or if you want to dive deeper into the conversation,

come join us in the breakers discord. You can find a link in the show notes or go to bit.ly slash breakdown pod. All right, friends, well today, as I said, I am joined by Dan Tapiero.

Dan is the founder of 10T Holdings and one round table partners. Collectively, those firms have

deployed more than a billion dollars into growth stage digital asset companies, and that's a category

that didn't really have dedicated funders when Dan started. Now, this conversation honestly

couldn't have come at a more opportune time. For the past few weeks, the big discussion here on

the breakdown, and in crypto more broadly, has been the resurgence of the institutional narrative.

You've had firms like BlackRock getting involved,

Deutsche Bank applying for a custody license, EDX coming online, and much more. Dan and I recorded this

last week before the BlackRock news, and yet in spite of that, what Dan shares is that in his

conversations, investors, including institutional investors that you might have thought would

vacate the space, are actually quite quietly bullish. In fact, Dan argues that the collapse of

FTX marked the end of the bare market. This is a great conversation. I know you're going to enjoy it.

All right, Dan, welcome back to the breakdown.

How you doing, sir?

NLW.

Great to be here.

It's been way too long.

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