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 Wednesday, August 7th, and today we are checking in on the

greatly rumored democratic crypto pivot. Before we get into that, however, if you are enjoying

the breakdown, please go 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.L.Y

slash breakdown pod. All right, friends, well, Kamala Harris has selected her running mate and it is

Minnesota Governor Tim Walts. Of course, us from our crypto perspective, the very first question

that many people asked was, what does this guy think about crypto? Well, unfortunately, or maybe fortunately,

relative to the Democratic Party right now, Wals has basically zero track record on crypto policy

with no public statements discussing the issue. He accepted and later returned a small

donation from FTX engineering director Nishad Singh during the 2022 election cycle, but that's also

true for a huge cross-section of political figures.

Other than that, Walls signed a bill to require limits and fraud protection on Bitcoin ATMs,

which, frankly, could be common-sense policy more than a sign of hostility.

Anything else said about Walls when it comes to crypto would simply be guesses at this stage.

He is on the progressive side of the party and received an immediate endorsement from Senator Elizabeth Warren, but the Democratic Party has also been in a consolidate the ranks

sort of move, so this isn't surprising either. Cody Carbone, the chief policy officer at the

Digital Chamber said, Walls has been somewhat of a blank slate on cryptocurrency, like his

running mate. We're hopeful that VP Harris's reported interest in being more crypto-forward will also

be affirmed by her new

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