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 Saturday, February 3rd, and that means it's time for the weekly recap.

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com slash breakdown pod. Hello, friends, happy weekend. It is time for another weekly recap. This is, of course,

the show that I record live with Scott Melker on Friday mornings. And today we talk about everything

from the FOMC and the jobs report to layoffs in crypto and whether there's something you

should be stressed about, to of course a little ETF update and everything in between. It's a good one. So without any

further ado, let's dive in. We were going to try to not say ETF, but I have a feeling we're

going to say ETF. Only a little, though. Only a little today. Just a nice little baby check-in.

Then we're going to do the salt bay thing, just a little sprinkle of ETF today. Well, this wasn't

necessarily my intention, but I think we should actually start with a bit of the macro because

today's job numbers dropped. The U.S. economy added 353,000 jobs in January as markets mull a slower pace of rate cuts. If you guys

weren't paying attention, I believe it was about 175,000, 80,000 that was predicted. And they revised

this time the December number up, meaning that they added more jobs. We've kind of been seeing

these revisions where it looks like

jobs are great and then they revise them down. In this case, it seems things are only getting

stronger. And if you guys don't know why that matters, we live in the upside down where a lot of

people having jobs is apparently really, really bad for stocks. Yeah, I mean, so we had two things this week that sort of all point in

the same direction. We had the first FOMC meeting of the year. And traders have basically

...