This episode is sponsored by, Chainalysis, FTX US and Ava Labs.

On this week’s Long Reads Sunday, NLW reads the “essay” version of Balaji Srinivasan’s new book “The Network State.”

“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Michele Musso and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsors is “The Now” by Aaron Sprinkle. Image credit: Andriy Onufriyenko /Getty Images, modified by CoinDesk. Join the discussion at