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 Friday, April 12th, and today I am doing the Friday 5 with Scott Melker. Before we get into that, however, if you were 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 on the Breakers Discord. You can find a link at the show notes or go to bit.ly slash breakdown pod. Hello friends.

How's it going?

This has been a crazy week. I know a lot of you guys know that on Wednesday we launched Super Intelligent. It's a new platform for learning how to use AI. By the way, if you want to check that out, go to B-Super.a.I. I would love to have some breakers over there. and if you need more information, shoot me an email and I will tell you all about it.

But between that and then some last minute travel earlier in the week, we are going to have a photo finish this time. And so I am moving up the weekly recap, which I usually put out on Saturday, and which is, of course, the live show that I do with Scott Melker every week. We're going to move that up to today's show on Friday. You'll hear

in the conversation that in many ways I think that this week reflects almost the crypto industry

catching up with itself. At the beginning of both cycles, there's always a Bitcoin narrative

breakout moment, and then the industry resolves to some set of focuses that are exciting to

internal-facing people, to enfranchise crypto users. In the past, it's

been things like defy or NFTs. This time around it appears to be RWA's, and there are a couple other

contenders, and the vibe is definitely that that part of the industry is coming into prominence right now,

as Bitcoin happily sings around $70,000. Anyways, we discussed that, as well as the SEC going after Uniswap.

It's a great conversation, so let's dive in.

I went to Paris on Sunday, came back on Thursday, never looked at a chart,

and it seems like everything was exactly the same.

It's a good way to be.

Save the watching for when things are going crazy, you know?

Yeah, so that was a good time to miss, I guess. But yeah, Bitcoin's still trading at $70,000.

I don't really see a reason for people to be panicking. But it seems when I read comments that we have

a little bit of those early time-based capitulation situations going on where people

get bored and start to get bearish. There's a lot of that, I think, happening sort of more broadly.

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