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, May 26th, and today we are moving the weekly recap up one day.

Before we get into that, a quick note. If you were enjoying The Breakdown, please 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 in the show notes or go to bit.ly slash breakdown pod. All right, friends, well, those of you who are in America know that this is Memorial Day

weekend.

That is the traditional kickoff of summer.

And my family, like so many of you, are traveling a little bit to celebrate the beginning

of the new season.

Functionally, that means there will not be regular breakdown episodes on Sunday and on Monday.

And so I'll be moving Longreed Sunday up to Saturday, and that means I'm moving the

weekly recap up to today.

There are a number of situations from earlier in the week to catch up on, including

Ledger, including the debt ceiling, so let's dive right in.

Hardware Wallet Manufacturer Ledger have spent the past week on damage control, trying

to repair the trust lost after they announced their new social recovery feature, Ledger

Recover.

The feature, which would allow a group of three companies to store an encrypted partial copy

of users' private keys and assist with wallet recovery, appeared to many to change the

fundamental assumptions made when using a hardware

wallet. That assumption, of course, is that a user's keys could never leave the device.

...