You have all of the kind of dramas that happen in governance elsewhere in crypto, largely because

they're trying to do more than Bitcoin. If you're trying to do more things, your governance has to move

commensurate with what you're trying to do. And largely what we've tried to do is more than the

governance is capable of doing. And that's where it's gone wrong. Brian at Gito says this perfectly.

It's basically like governance is a muscle, decentralization is a muscle, and you have to train it. And if you try and do something

that you're not fit to do, you will fail at it. So it's just about being much more

cautious and incremental in governance, starting from not doing much and getting more advanced

over time, rather than just saying like, okay, the Dow's going to run the ecosystem now.

And then it just gets plundered and it all goes wrong.

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only and interviews expressed by anyone on the show are opinions, not financial advice.

Host and guests may hold positions in the company's funds or projects discussed. Welcome everybody

to The Breakdown. I'm your host, David Chenalas. With me is returning guest, friend of the show, Nick Armand, head of governance at the Gito Foundation. Thanks for coming with us again, Nick. Yeah, thanks for having me on, mate. It's good to see you again. Yeah. So, like, I wanted to get you on because we've had you on the show a few times, but we haven't

explicitly talked about governance and kind of unpacked, not only your philosophy, but just

like the state of governance across crypto.

And there's been like four or five instances in the past six months or so where governance

has come up in kind of weird different ways.

...