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

On today’s episode, NLW digs into the idea of the U.S. dollar as a global wrecking ball, and explores why the dollar is the strongest it has been against other currencies in 20 years. As part of this, he also looks at structural weakness in Japanese and European currencies.

“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell 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: MicroStockHub/Getty Images, modified by CoinDesk. Join the discussion at