This episode is sponsored by Nexo.io, Chainalysis and FTX US.

On this “Long Reads Sunday,” NLW reads:

What Is Crypto’s Downfall? Its Complexity – Jameson Lopp

Complexity Theater – NLW

“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: Cemile Bingol/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.

Complexity Theater: Why Luna Was the First Time DeFi Complexity Risk Was Transferred to Regular Investors