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.

The breakdown is sponsored by nexor.io and BitStamp and produced and distributed by CoinDess.

What's going on, guys? It is Saturday,

May 15th, and today we are talking about one of the crazier weeks in crypto history. And specific,

I want to get a little bit into Vitalik versus Dog Money. Let's start, however, with a quick review of the stories that I covered in detail.

The banner headline was, of course, Elon Musk and his fickle, strange relationship with

Bitcoin, Doge, and public media. I've discussed this extensively this week, so I'll only add this

here. There is a conversation to be had about the power of audience. In other words, this Elon story isn't just about his

whims and vagaries. It's also about how power is metted out via social media. Elon has a bigger

microphone than nearly any corporate officer in history. Sure, Steve Jobs could have called a press

conference and had every outlet there. But Elon can think of something stupid while taking a dump and

pull or push billions from markets in less than a minute of typing. There is a larger question

here that once again comes back to unresolved issues of social media in society. And by the way,

if you're interested in this, I've got an exciting joint show with someone that I think you'll really

enjoy to explore it more

in depth than the next couple of weeks. I also covered the Binance fud around a Department of

Justice and IRS investigation. First and probably most importantly, the headline of the

Bloomberg piece seems to have been a little fear-mongering, considering that the sub-headline made it

clear that Binance has been accused of no

wrongdoing. My point in my coverage, however, was that basically whatever the outcome is,

it's probably a net positive for the industry. The worst-case scenario is some major set of

...