Brian Armstrong

So something like 30-day treasuries are the max, I believe.

So something like 30-day treasuries are the max, I believe.

So that's pretty much the safest thing you can get.

So that's pretty much the safest thing you can get.

You're basically trusting the United States government is not going to fail in 30 days, which I think is a pretty safe bet.

You're basically trusting the United States government is not going to fail in 30 days, which I think is a pretty safe bet.

Yeah.

Yeah.

And I've been making this point as well that banks do something called fractional reserve lending.

And I've been making this point as well that banks do something called fractional reserve lending.

They actually don't store all your money there.

They actually don't store all your money there.

They're lending it out.

They're lending it out.

That's why they have such high regulatory overhead, because there can be a run on the bank.

That's why they have such high regulatory overhead, because there can be a run on the bank.

And it gives them a very unique business model.

And it gives them a very unique business model.

They can basically lend it out.

They can basically lend it out.