This episode is sponsored by Nexo, Arculus and FTX US.

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Today on “The Breakdown,” NLW looks at what the first month of the year taught us about what to expect in 2022. Overall, he argues that the most important megatrend was the shift from risk-off to risk-on as the U.S. Federal Reserve looks towards quantitative tightening later in the year.  He looks at:

Crypto markets downStock market downVenture investment into crypto hit $4.4 billion for the monthRegulatory happenings and why the crypto lobby is more prepared than ever

See also: The Ups and Downs of Crypto Loans

“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 “Time” by OBOY. Image credit: Jackie Niam/iStock/Getty Images Plus, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.