The Breakdown

NEW EP: Trump’s Fed pick has 30+ crypto investments. Including Polymarket. Including the Lightning Network. @dcanellis covers three stories worth talking about this week. We cover: ◆ How degen Kevin Warsh’s crypto portfolio really is ◆ The Polymarket bot that bets “nothing ever happens” ◆ Why the contrarian trade might be the best trade right now ◆ Hollywood’s Bitcoin film: Casey Affleck, Gal Gadot, and Craig Wright as anti-hero ◆ Why David wishes this movie wasn’t being made Links Below ↓

Is Kevin Warsh a degen? @dcanellis picks through the Fed nominee's portfolio of crypto investments and finds a surprising lemon

ICYMI: Trump’s surprisingly degen Fed pick, a Polymarket bot that bets against the news cycle, and why the Hollywood Bitcoin film is a problem for the space. @dcanellis

Hollywood's making a Gal Gadot Bitcoin movie... about the Craig Wright saga @dcanellis can't wait

@dcanellis Apple🔊: bit.ly/3Mhkpln Spotify🔊: link.blockworks.co/4reKZel YouTube📺: youtu.be/cXcV-B9cG7M

NEW EP: Trump’s Fed pick has 30+ crypto investments. Including Polymarket. Including the Lightning Network. @dcanellis covers three stories worth talking about this week. We cover: ◆ How degen Kevin Warsh’s crypto portfolio really is ◆ The Polymarket bot that bets “nothing ever happens” ◆ Why the contrarian trade might be the best trade right now ◆ Hollywood’s Bitcoin film: Casey Affleck, Gal Gadot, and Craig Wright as anti-hero ◆ Why David wishes this movie wasn’t being made Links Below ↓

How does Kevin O'Leary use AI? Art, financial services, customer acquisition, content creation, enhancing return on ad spend. The list goes on. "People think it's a commodity. It's not." @kevinolearytv @dcanellis

Sovereign wealth funds were planning to enter crypto but faced a big problem. There's 10,000 tokens, but @kevinolearytv can get 97.5% or more of the entire market volatility with two positions: BTC and ETH. "So what do you with the other 10,000 coins? They're just poo poo." @dcanellis

ICYMI: Kevin O’Leary joins The Breakdown to talk AI, data centers, and why he sold 27 crypto positions to hold just BTC, ETH, and USDC. @dcanellis @kevinolearytv

Kevin O'Leary on AI investing: only 2 of every 10 companies will drive all your returns. The rest are zombies or dead in 36 months. @kevinolearytv @dcanellis

@kevinolearytv Apple🔊: bit.ly/3Mhkpln Spotify🔊: link.blockworks.co/4reKZel YouTube📺: youtu.be/vGx9nlA1lPs

NEW EP: @kevinolearytv sold 27 crypto positions. He kept three. He joins The Breakdown to explain why — and where he’s putting that capital to work in the AI era. We cover: ◆ The measurability that made AI skepticism disappear ◆ Building off-grid data centers on stranded natural gas ◆ Bitcoin and Ethereum capturing 97% of crypto market volatility ◆ The VC math behind investing in AI startups ◆ Why taste is becoming a premium in an AI-homogenized world @dcanellis

“Real usage isn’t agents moving tokens around.” Jordan Liu of @AIsaOneHQ says the important shift is agents paying for APIs, search, data, and services to actually get work done. @dcanellis

The next generation of websites may not be built for humans. Jordan Liu of @AIsaOneHQ says companies will need machine-readable pages for AI agents, with structured pricing, latency, and service terms. @dcanellis

“Agents are becoming economic actors.” Jordan Liu of @AIsaOneHQ says AI agents won’t just use software — they’ll buy compute, data, APIs, and SaaS tools on demand. Instead of paying $100/month for Salesforce, an agent may eventually pay 50 cents for a single function call. @dcanellis

ICYMI: AI agents are already transacting — and we’re watching the payment rails being built as we speak. David’s full conversation with Jordan Liu of AIsa on the agentic commerce stack, x402 vs. MPP, and what comes next. @dcanellis @AIsaOneHQ

Jordan Liu of @AIsaOneHQ says there’s a big difference between speculation and real adoption. The real signal is not agents moving tokens — it’s agents paying for APIs, models, search, and services to complete tasks. @dcanellis

Apple🔊: bit.ly/3Mhkpln Spotify🔊: link.blockworks.co/4reKZel YouTube📺: youtu.be/jEbtjr_Y5mw

NEW EP: The Linux Foundation is onboard with x402 — and Amazon, Google, Stripe, and Mastercard might be joining soon. Jordan Liu, one of the earliest builders in the x402 ecosystem breaks down what that really means for agent commerce. @AIsaOneHQ @dcanellis We cover: - What AIsa is building on the x402 payment stack - The three layers of agent payments, explained - Why x402 and MPP aren’t actually competing - How agents are already paying for APIs and data - 12 months until fully autonomous AI economic actors?

In the next 12 months, AI agents may become real economic actors Jordan Liu of @AIsaOneHQ says agents will soon be able to make purchases, use wallets, and make decisions on behalf of both individuals and businesses. @dcanellis

@dcanellis Apple🔊: bit.ly/3Mhkpln Spotify🔊: link.blockworks.co/4reKZel Youtube: youtu.be/LDHzC2fuvjI?si…

ICYMI: AI agents are already spending money onchain. @dcanellis breaks down the race between Coinbase’s x402 and Stripe’s MPP — and what it means for the future of agentic commerce.