Rohit Chopra

Average people are going to be screwed once again.

And so some of it, I think, just comes from this anger about what's building up, the froth that's building up in the economy.

This is where a group of companies- Let's put C5 back up while you're talking.

Yeah, so people can look.

And so what happens if the revenue expectations of an open AI or an anthropic start to not meet?

And if we could talk a bit about the consumer end of this, Rohit, I'm curious, you know, some of the stuff you all were doing at the CFPB to steel man the conservative argument, it was you didn't need the CFPB.

The CFPB could sort of be folded into other agencies that already existed.

So if we take that seriously for a moment, I'm curious if you believe that

that some of those responsibilities have adequately been folded into other oversight bodies and what risk, I'm assuming you're gonna say no, what risk then consumers find themselves in with a basically empty CFPB and some of this real economic change happening kind of under everybody's noses right now?

Yep, picking a lot of tech companies as winners in particular.

And Rohit Chopra, I also wanted to ask you to kind of unpack for us a little bit this fight that's going on between Wall Street banks on the one hand and crypto companies on the other hand that seem to be attempting to act like banks.

It looks like they want to start taking deposits and paying interest on deposits, but without being kind of regulated as banks, which...

The nice thing that we got out of the Great Depression was the FDIC and you put your money into a bank and if the bank goes under, as Americans, we're not actually worried that we're gonna lose our deposits and so therefore we don't rush and we don't create runs on those banks.

So Tom Tillis, maybe we can add this in post, but Tom Tillis and Angela,

also brooks the tom teller's republican from north carolina also brooks democrat from uh maryland putting together a proposal that they thought had reached some type of compromise between coinbase and the crypto world and and wall street but that seems to have kind of unraveled a little bit so can you unpack for us like what are these what are the different camps

arguing for.

And I wonder, so Coinbase just laid off, what, 14% of its staff.

And I wonder if they were waiting to kind of reach a deal and then went for this massive layoff.

Setting that aside, what is this fight over?

So what does a world look like if