This episode is sponsored by Nexo.ioNEAR and FTX US.

NLW is joined on “The Breakdown” by Nic Carter, the founding partner at Castle Island Ventures. In this conversation, they discuss the market cycle, what’s valuable about being in a bear market and the promise of decentralized finance on the Lightning Network.

Find our guest on Twitter: @nic__carter

“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsors is “Catnip” by Famous Cats and “I Don't Know How To Explain It” by Aaron Sprinkle. Image credit: Rob Mitchell/CoinDesk. Join the discussion at