Ben McKenzie
👤 SpeakerAppearances Over Time
Podcast Appearances
Three months later, three banks fail and they're all tied to crypto.
Trillion?
I don't know the actual liquidity.
So there's sort of that side of it in terms of the speculative stuff, but there's also just these stable coins.
So these cryptocurrencies that are pegged one-to-one to real U.S.
dollars.
And...
they're even scarier to me than the other stuff because the other stuff is gambling.
But that is basically a black market dollar.
So the price doesn't go up and down.
It's always whatever the U.S.
dollar is.
Exactly.
But it's not backed by the full faith and credit of the United States.
It's not issued by the government.
You can't call the FBI if it disappears.
Right.
And so it's used for all of this crime.
The criminals don't want the volatility of the other cryptos, right?
If they could avoid that, that would be way better.