Crypto Assets

“The trouble with the past practices of the, Commission is that it drove trading of crypto assets offshore.”

“Millions of people actually already trade crypto assets using Telegram bots that are not too dissimilar from this illustrative example I'm showing here on the screen”

“You know, I'm on the committee and I, there's no rule against this, but I don't necessarily think I should be, you know, investing in crypto assets while I'm thinking about regulating them.”

“When you have this ability that crypto assets give you of being your own bank, of doing self custody, of having this very instruments, it really brings out this principle of maximum liberty and maximum responsibility. And the maximum responsibility is if you r…”

“When you hold Google stock, it's not an asset that gets sort of activated and used in a system, whereas in a crypto asset, it really is a useful asset a lot of the time.”

“We think there's a very plausible scenario where 99% of all crypto assets are NFTs in the longer run, especially as minting costs come down into the few cents or perhaps fraction of a cent.”

“And I think when, you know, retail traders lose money in volatile situations, they just call everything a scam.”

“We own something, which I'm not going to tell you what it is, but it's a crypto thing. And our nav, I had to mark my book up a billion net asset value on that asset. I had to mark it up because, you know, we have to submit to our auditors and just keep an accu…”

“I, I've, you know, I've been buying and owning assets since, I don't know, 2014 or something like that.”

“These assets are just uniquely positioned to do well, by the way, gold should do well as well, except these are just this really interesting, highly convex version of gold. That's I think just deeply discounted.”

“It's probably the case that a lot of those assets over time won't even come close to the performance that I see out of these two assets.”

“We were the first Real regulator to be from a government perspective to touch crypto assets. And there were two reasons. A few years earlier, it had been determined by the agency that Bitcoin is a commodity.”

“Today, most demand for crypto assets is speculative, and what makes it viable for natural demand, people who would actually be using the crypto asset for some sort of productive activity, is primarily a strong guarantee, like we were talking about before, that…”

“The status quo is people invest in crypto assets, and then they do what we call pirate, we call it pirate custody. And we call it pirate custody because if you think about it is the same technology that the pirates used in the 1700 to protect their gold coins.”

“So there's going to be a whole bunch of experiments of creative people using crypto assets as ways to, you know, kind of think about new business models, and all you need is one or two of those experiments to work, and then suddenly a new thing, you know, goin…”

“This is uncorrelated with Oil, gold, emerging market currencies, the equity markets, bonds, it's really just uncorrelated with everything else, and it's because it's a totally new phenomena.”

“As more and more networks are built and grow and become more important in our lives, those assets will become more important and more valuable.”

“We bonded over our shared belief that the most interesting place to invest in was in the assets themselves and the crypto assets that were being created with blockchains as opposed to companies.”

“So on a website called CoinMarketCap, there's 1600 crypto assets that are actually listed on there. And there's a total market cap of four hundred billion dollars.”