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, May 12th, and that means it's time for the weekly recap.

A quick note before we dive in, The Breakdown. If you somehow have missed this, is now the Breakdown Network.

It's a set of shows all about these big picture power shifts remaking our world that I am so clearly interested in, if not even obsessed with.

The other shows on the breakdown network include Bitcoin Builders, which is all about this

incredible entrepreneurial energy heading to Bitcoin.

And then, of course, there is the AI breakdown, which is basically trying to do for the

AI space exactly what the breakdown tries to do for crypto, Bitcoin, and Macro.

I cover the key

news each day and try to give an analysis about why it matters. You can find those shows anywhere

you listen to podcasts. If you're on Apple, it's extra easy as you can just press the little

breakdown network button right below the title. I appreciate all of you guys who have tried

the new shows, and I'm looking forward to having even more of you join this sort of cross-cutting conversation.

Speaking of which, if you want that conversation, come join us on the Breakers Discord.

You can find a link in the show notes or go to bit.ly slash breakdown pod.

Now, for this weekly recap, we are catching up on gnarly hangover crap from last year.

And specifically, we're going to focus in on

FTX's seemingly insane tax bill. The IRS has filed claims for $44 billion, with a B, in taxes,

owed against the FTX bankruptcy estate. According to court filings dated April 27th and 28th, the IRS has placed 45 claims against

FTCS group companies, including West Realm Shires, which operated FTX US, Ledger Holdings,

Blockfolio, and others. Now, that said, the bulk of the claims were four claims totaling

...