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, June 10th, and that means it's time for the weekly recap.

A quick note before we dive in, if you haven't tried it out yet, I would highly encourage you to go check out the breakdown's first five.

It's our weekday morning newsletter where we talk about the five most interesting or important stories in Bitcoin, macro, crypto, you name it.

And you can find it at

Breakdown.Behive.com. That's B-E-E-H-I-I-V.com. Well, friends, we are crawling over the finish

line this week. I don't know why at the beginning of summer, my voice decided to go, but we have to

wrap up this crazy week, this crazy week which will of course be remembered as the

week that Binance and Coinbase got sued. However, where we're going today with this episode

is that even as we deal with the fallout, the embers of what comes next are starting to show

through. First of all, the SEC doesn't necessarily have guaranteed wins in these cases.

Case in point. A federal judge has

dismissed the case against defy startup pooled together, stating that the federal court system

is not an appropriate venue to raise concerns about the platform. The pull together case caused

waves in October 2021 when former Elizabeth Warren staffer, of course, forgive my cynicism,

Joseph Kent filed the lawsuit.

Kent had deposited $10 into the protocol, seemingly only to allow himself to file the lawsuit.

Now, pool together allows users to deposit money to enter a weekly prize draw.

Users remain entered in each week's draw and can withdraw their funds at any time,

creating a lossless lottery system or a prize-linked savings account.

Prizes are generated by a form of staking yield, with the yield creating the prize pool rather than being distributed among protocol users.

...