Crypto Industry

“And this is actually one of the biggest, largest competitive advantages for our company is in the on-chain and crypto industry specifically, the users are very passionate about using the products.”

“Previously the SEC head of the SEC, Gary Gensler, didn't want to give specific guidelines on what we need to do. It was more about, well, if we don't like it, we're going to come after you. And, you know, that's not a good way to grow an industry.”

“So I think right now the crypto industry is, to be honest, is too transparent. It's actually extremely easy to track crypto funds. like the blockchain is a public ledger. And then if you couple that with a couple, a few centralized exchanges, KYC information,…”

“And you know, and there, and as a result of that, basically the whole crypto industry was in the process of moving offshore. And America, I think, was being deprived of this industry of the future.”

“And you know, it was very unfair because again, these founders wanted to comply with the rules, but they weren't told what they were. And that was all part of a deliberate strategy, I think, to drive crypto offshore.”

“One of the things that is very different between crypto and AI that we've noticed is that on the crypto front, everybody just wanted rules and the industry was relatively unified.”

“The irony is if you would have had the market structure bill, you wouldn't have had a lot of the blowups that you had. In the past several years in this industry.”

“Gary Gensler basically picked what should have been the best companies in crypto, the poster children for compliance, and brought enforcement actions against them, and then the complete spectacular disasters didn't bring anything, so until after the fact.”

“So, look, the bottom line here is that I think that we are close to having clear rules of the road codified by Congress, which is what the crypto industry's been asking for, and the days of Gensler terrorizing crypto companies by issuing Wells notices without …”

“One of the really remarkable things about the whole crypto crackdown was, you know, the claim, the lie, and it was clearly a lie, and I'll explain why, was that, oh, we have to protect consumers. But as they were, you know, basically terrorizing every complian…”

“The SEC has been against that because they're not really for protecting consumers. They're you know, just for wrecking the industry.”

“They've basically subverted the rule of law to attack The crypto industry.”

“I think we will be at a meaningfully different place as an industry in order of magnitude bigger. I think Kraken will likely be more than an order of magnitude bigger in that timeframe.”

“I think the alternative is actually that you push the entire industry to be on the fringe and on the margin and all of these transactions become peer to peer and more opaque to regulation, which is absolutely the worst outcome for everyone involved, including …”

“If we're staying on, on our current path, I don't think it will happen soon. But I hope that I hope that the entire industry gets gets a lot of clarity.”

“I think we're done with that or almost done with that. And I think that's why you see a lot more innovation coming back to Bitcoin as well, because people have come to realize that actually building real products that solve real people's problems is the way to…”

“All the talent gets attracted and comes into the space when there's bull markets, but they don't leave when there are bear markets. It's a one-way function from traditional finance and from tech into crypto, and that is one of the best data points that you can…”

“So this is all going to come crashing down, and the discovery is going to be next level.”

“Last year, the industry raised about twenty five billion or so in capital on the venture side. In the year before, 2020, the number was three billion. This first quarter alone, the industry raised ten billion.”

“What's for sure is that the industry is better capitalized than ever. So in some ways, like even if there's a softening and valuations go down and there's a bit of a bear market, it should weather it pretty well in my view.”

“Mt. Gox set the Bitcoin industry and the crypto industry back by, you know, at least two to three years.”

“The music industry is quite literally the opposite. Everybody is for themselves. Nobody wants to help each other. Anyone you do business with is gouging you at every possible turn. And it really is not like that in the crypto industry.”

“I'm just saying from my perspective, I just think that if you have clear, sensible taxation, that's 90% of what this industry needs. And I don't think it will change anybody's real motivation to work inside this ecosystem.”

“There's very few companies, if any, that still use phone numbers and SMSs as two-factor authentication mechanisms.”