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 26th, and that means it's time for the Friday 5.

Before we get into that, however, if you're enjoying the breakdown, please go subscribe to it,

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breakdown pod. Hello, friends. Quick note before we dive into today's show, you've probably heard that I've

kind of been blending the Friday 5 that I do with Scott Melker on Friday mornings with the

weekly recap because they're basically the same show. And so going forward, there is just going

to be one of those as a sort of Friday, Saturday package. The content is almost entirely

the same, and I think it just makes sense to combine them together, still at this stage intending to always do a long read Sunday as well, so there will be

some weekend content. But that's the plan going forward. And this week, there was a lot to talk about.

In some ways, the more that I think about it, the more that I'm convinced that we really are seeing

Operation Chokepoint 2.0, but 2.0, where the goal of all of these agencies is no longer

to destroy crypto entirely, but to basically kill self-custody in the name of KYC-AML regimes.

We get into all of that on the show, but it's something that I'm keeping an eye on, and I'm certain

that we will talk about more in the weeks and months to come. For now, though, let's dive into

the Friday 5, formerly known as the weekly recap. NLW, man, it has been a wild week. We

kind of had some quiet times there for a while. Definitely not now. Yeah, it was a real when

it rains, it pours kind of a week here. Yeah, for sure. I mean, first, as I've committed to just

taking a look at the market, Bitcoin's just sideways, right? Amidst all of this nonsense, we've just

been kind of trading in the middle of the 60,000s. We haven't even talked about the having,

...