On this week's episode of DeFi Decoded, Alex and Andrew try to put the crypto correction in the context of an increasingly complex and muddled global macro picture. Bitcoin failed its test as an inflation hedge, but will the spectre of global recession push it lower, or can it catch a bid and resume its status as uncorrelated asset in a secular bull market? Plus, they discuss (hopefully for the last time) the enduring fallout from 3 Arrows Capital blowing up. Finally, they talk about the new book The Networked State and its rooting in the cypherpunk classic The Sovereign Individual. Will crypto sweep away old industrial age models for governance and economic coordination and usher in a new era of organizations and even nations? Tune in to find out!