Eric Lipton
speaker
759 appearances
6 recordings
4 series
first heard Feb 2025
last heard 5 Aug
Eric Lipton’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 2 in all, peaking in Aug 2026 with 1.
Appearances
And, you know, now it's just all investigations are so partisan, and even the way that the public reacts to them is so dismissive, depending on which side you're on, that it empowers the executive, the president, to just ignore them and to say, oh, this is just political, you know, nonsense. And I think that that feeds into this
this pursuit of greater executive power and and and and and ignorance of red lines. And I think it's it's unfortunate. And I think social media is also a factor in this where, you know, the tribes are feeding each other, you know, their through tunnels of information that just backs up their favored politician.
So I do, I think this, this, all of this is becoming more normalized in a way that is unfortunate and potentially long lasting, but you know, we'll see how it plays out. And, you know, first of all, we've got to get through the Trump years and, you know, we're just going to continue to, we're going to continue.
Yeah, I mean, rule of law, it's just, you know, the Republicans and the Democrats love to use that term, but the rule of law is becoming less, you know, less real and less apparent in society today. And And that's, I mean, our country has really been held up by that norm for centuries now. And it's becoming less and less apparent. And that's really problematic. But Susan, what are your thoughts?
Thanks for having me.
Stablecoins are extremely popular in the crypto world, and they're a way of having a type of a token that has a steady value. It's worth a dollar no matter what is happening in the Bitcoin market up or down because there's so much volatility in crypto.
And the advantage of a stablecoin is once you have a dollar-to-dollar crypto token, you can use it to buy and sell things because it has a reliable value. Right. It is also one of the most profitable chunks of the whole crypto space for companies that issue stablecoins because once they have your money in a stablecoin, they invest your money and they make a lot of yield on it.
And you don't get that yield. You don't get the interest on your money. They take it. And so it's a very profitable part of the business. But it has been held back because in the United States, the Federal Reserve and the Treasury have been concerned about Could stable coins represent a threat to the economy?
And so it has not grown as much as it perhaps could if it had some regulatory structure around it. And that's what this act would do.
Why use crypto if you're just building a crypto that's tied to the dollar? It's a very good question. I mean, it is more fluid than a dollar and it can cross borders with fewer restrictions. But that's also one of the concerns is they could be used for money laundering or drug trafficking if it's not properly regulated.
I mean, the Genius Act would officially recognize stable coins as a functioning part of the financial sector, and it would create some requirements for issuers of the stable coins. The biggest thing that it would do is it would recognize stable coins as a legitimate part of the U.S. financial sector.
And it would also be assigned to banks and other financial institutions that you should start to incorporate them into your mix of services. So, The reason it's so important is that the industry is that it would legitimize stable coins and embrace them through an act of Congress.
And so I think that you would see significant growth in the stable coin market in the United States and globally if Congress enacted it.
It's a very odd situation because you have simultaneously a president of the United States who is both appointing the financial regulators. So effectively, he's the top financial regulator in the United States and therefore the world. And he is also one of the biggest players in the same regulatory space. So he is the regulator and the regulated. And it is a very unusual situation.
I spoke with both historians and former White House ethics lawyers, and no one could identify another example of a conflict of interest that was so blatant and worrisome as having Trump be both the regulator and the regulated in this case.
Yeah. I mean, this is a single piece of a much broader kind of landscapes of conflicts of interest when it comes to the Trump family and cryptocurrency.
And among the other examples are the fact that Trump appointed an acting director of the SEC and now has appointed a permanent chair of the SEC, who among the first acts was to roll back most of the enforcement actions that the agency was taking relative to violations of federal securities law and banking secrecy requirements.
And again, one of the first things that Trump did was to appoint an acting head of the Securities and Exchange Commission, which is the chief regulator of the cryptocurrency industry, who rolled back dozens of enforcement actions around the cryptocurrency industry, either froze those actions or actually stopped pending lawsuits against companies that had violated federal securities laws.
And some of those same companies that have been freed of regulatory actions are actually business partners of World Liberty Financial. And not only that, but he actually pardoned a gentleman named Arthur Hayes, who is an investor in one of the financial partners of World Liberty.
So, I mean, he has rolled back regulatory actions relative to his business partners and given a pardon to effectively one of his business partners.
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