Bailey

They depend on that in order to sustain their business.

Those banks can't sustain.

If you do not deposit money, the whole structure depends on you depositing money.

And the whole too big to fail was predicated off of not only deposits, but also loan activities.

Everything is a house of cards around fiat.

The banks know anything cryptocurrency that even draws close to that line is a threat to them and they're going to push back on it.

It's not about the crypto.

It's about the rest of fiat.

So I said I struggled to see how this is going to go anywhere because I'm not sure we've done too much to cryptocurrency to try to make it like the banking system.

which was its fatal flaw.

And the reason Gensler went on his mission, instead of just letting crypto be crypto, as I talked about with Mr. Seagal on the older episode, instead of letting it be just a simple exchange that had no fiat equivalency, and it just had its own intrinsic value.

We went the far wrong direction.

So now the clarity act has written.

Now they got to fight past the bank battles.

They came back and said, well, Coinbase might relent and do what they want, which would essentially gut the bill or it gets stuck in limbo land because the government's not going to give it the banks fight.

The government's going to bow to what the banks say.

So either egghead gives in or the banks give it.

I don't think the bank's going to give in.

I don't think the government's going to give in.

I don't think eggheads going to give in.