Welcome back to The Breakdown with me and LW.

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, August 11th. And today we are talking about everything from an SEC appeal to post Malone discussing CBDCs.

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All right, friends, well, at the end of this week, I got called away for some urgent, very quick

travel, and so I've had to scramble my schedule a little bit.

Given that, you can kind of think of today's episode as a little bit of what the weekly recap normally does,

doing a sort of grab bag show of a bunch of things we haven't had a chance to talk about

yet. And tomorrow I'm doing sort of a hybrid of Long Read Sunday and a weekly recap, where I read

a couple essays that I think were about the most important things that happen this week.

Then Sunday you get a throwback Long Read Sunday that is really fun. And anyways, all of this

is my way of not having to deny you shows as I traveled. So with that, let's get into this grab bag,

and where we're going to kick off is with the SEC and Ripple. The SEC has indicated to the court

that they will seek to appeal last month's Ripple decision. If they are allowed to proceed,

the regulator will ask the court's permission to appeal the parts of Ripple decision. If they are allowed to proceed, the regulator

will ask the court's permission to appeal the parts of the decision which went against them.

In a letter to the court, the SEC indicated that it would appeal, quote, the courts holding

that defendant's programmatic offers and sales to XRP buyers over crypto asset trading platforms,

and Ripple's other distributions in exchange for labor and services did not involve the offer or sale of

securities under the Howie test. Now, of course, you'll remember that last month's decision

...