This episode is sponsored by NYDIG.

Today’s episode of “The Breakdown” is a grab bag of news stories from the past several days. NLW covers:

• The Bank for International Settlements report “DeFi Risk and the Decentralization Illusion” 
• Regulatory updates from the Biden administration, Japan, the U.K. and India
• Institutions leading the selling last week 
• OpenSea appears headed for IPO 

NYDIG, the institutional-grade platform for bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.

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“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. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Dark Crazed Cap” by Isaac Joel. Image credit: Nuthawut Somsuk/iStock/Getty Images Plus, modified by CoinDesk.