May 30, 2025 • 13 mins
Here's an excerpt from Max Chafkin's new podcast Everybody's Business, co-hosted with Stacey Vanek Smith. From now on, if you want to hear the whole episode and all past and future episodes, head to your podcast app of choice and search for Everybody's Business. A handy collection of links can be found here.
For now, enjoy this conversation with stacy-marie ishmael about President Trump's novel crypto strategy.
See omnystudio.com/listener for privacy information.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Hey, Max Chafkin here. As you know, I have been
working on a new podcast, Everybody's Business, that we've been
putting in this feed, dropping episodes every Friday, and I
have some difficult news to share with you listeners that's
about to change starting this week. You have to go
to the Everybody's Business feed to listen to the show.
You can find links to that show in the notes,
(00:21):
or you can just type it into your podcast app.
But as a parting gift, like a little last morsel
before we cut you off completely, here is an excerpt
from this week's episode. To hear the whole thing again,
head over to Everybody's Business and while you're there, subscribe
to it, review it. We'd really appreciate your support. So
(00:42):
from a coin that's going away, to the new coins,
to the future of currency every day, talking of course
about cryptocurrency. JD. Vance, Vice President, was in Las Vegas
on Wednesday speaking at the Bitcoin Conference. This is the
same event that Donald Trump spoke at last year during
the political campaign, and this time it was something of
(01:04):
a victory lab for the Trump administration, essentially claiming credit
for all this support of the crypto industry and asking
for more support in the future. I'm here today to
say loud and clear with President Trump, crypto finally has
a champion and an ally in the White House.
Speaker 2 (01:23):
That sounds like a big crowd. It's like a big
convergence if.
Speaker 1 (01:25):
There are a lot of people who love crypto. As
our guest stadium, Stacey Marie Ishmael Bloomberg's executive editor overseeing
crypto and fintech can attest. Hey, Stacey Marie, Hello, So
there was a lot in this speech from the Vice President,
but it's really just kind of the latest in a
series of love letters that the Trump administration has written
(01:47):
to the crypto industry. Let me just quickly run through
a few. You had the Trump and Malania coins, the
dinner about those coins, Trump's stable coin, the Crypto Reserve
Executive Order, the pardoning of Ross Olbrick, defang any sec.
It goes on and on and on. Stacy Marie, how
would you characterize the White House's approach to crypto sort
(02:12):
of overall of all those things, like what has been
most important or most interesting?
Speaker 3 (02:17):
I would say, from an efficacy perspective, if I think
about this as like what's been material to the fortunes
of crypto people as opposed to what are they happiest about.
Certainly the difference in the regulatory approach under the Trump
White House versus the Biden administration is pronounced. You mentioned
the moves by the US and Securities Exchange Commission to largely,
(02:41):
I would say, drop or pause a majority of the
more significant crypto cases that they had been prosecuting. But
we're seeing, you know, enthusiastic rhetoric, shall we say, from
the regulators about crypto, which is very different from the
Gensler era of I think you're all criminals who don't
like following rules. Right now, we're hearing, whether it's the
(03:03):
SEC or the CFTC, or the IRS or anybody else,
essentially encouraging the industry to go out, be innovative, try things.
And you know, from a regulatory perspective, our approach is
going to be We're not going to get in your
way unless something egregious or obviously fraudulent is happening. So,
if you are a crypto insider, you currently feel like
you know your money was well spent on all of
(03:24):
the lobbying efforts and the political donations of the past
couple of years.
Speaker 1 (03:28):
Just to say that perspective of Gary Gensler is saying
it's all illegal, like that is the crypto industry's perspective,
one hundred percent of crypto industry, not necessarily what you'd
hear if you talk to Gary Gensler. I think what
he would say is, hey, we just want them to
follow the same rules that other finance companies follow. There
was a moment where I saw people in the crypto
world sort of getting mad at Trump, sort of saying
(03:48):
like he is making us look bad, like he's launching coins.
Speaker 4 (03:52):
When he launched the Trump coin in Milania coin, they
were mad at him exactly.
Speaker 1 (03:56):
They were saying like, we're beyond this. We are we
are building a new finance industry. This is like changing
global finance whatever kind of high minded slash crazy futuristic
ideological thing.
Speaker 2 (04:08):
He also created the Strategic Crypto Reserve, which seems quite legitimizing.
Speaker 3 (04:12):
So I think what you're describing one. There's a timeline thing,
which is President Trump launched the Presidential Meme coin, I
suppose right before he was inaugurated, right, so it was
like a couple of days before January twentieth, and then
the first Lady launched thrown separately through a different entity.
And there was criticism then of the fact that this
looked like the kind of thing that people criticized the
(04:34):
industry for, But the same people who were criticizing it
were very careful not to criticize the president directly. The
rhetoric was like, he must be getting bad advice, right,
because the industry is in this very interesting place of
trying to keep the White House and the President on
side while also worrying about whether this is going to
(04:57):
affect them negatively or there might be too much competition
from the same investor base.
Speaker 2 (05:02):
But trump coin has not like done that. Well, right,
how are these strategies working.
Speaker 3 (05:08):
One of the first things you learned in crypto that
attempting to apply traditional market value analysis to these assets
is like the path to pay. So, you know, one
way to think about the Trump coin is as a
political instrument, a way of declaring kind of allegiance to
a president, an ideology, a way of seeing the world.
(05:31):
It's very similar to you know, the folks would buy
the Trump collectibles, like which featured art of him as
super mad or an astronaut.
Speaker 2 (05:39):
Or or an actual coin or there was an actual Yeah, there's.
Speaker 3 (05:42):
But there's also the Bibles, there's the sneakers, Right, So
a lot of the ways that people are approaching trump
coin is this is a way for me to signal
fidelity to a particular worldview, as opposed to this is
going to be the thing that gets me rich. There
are absolutely people who made out like bandits in trading
trump coin and other mean coins, because there's a lot
of room for that sort of speculative arbitrage and crypto.
(06:04):
But in so much of the conversations that we're having
with people, they're like, this is how they signal that
they are aligned with the presidential cause.
Speaker 1 (06:12):
There was all this conversation before the Trump presidency about
the dangers of crypto, right Gary Gensler to some extent
driving that conversation. You also have seen like investors really
get screwed by buying into you know, rug polish like schemes,
or in putting their money in crypto companies that just
(06:35):
haven't been good stewards of that money. You have Trump
essentially throwing the gates open, changing the regulator environment, and
telling people essentially including Trump and the vice president and
Trump's kids, basically bitcoins going to the moon, like how
much risk is there, I mean risk to this kind
of class of investor, and maybe even broader like economic risk.
Speaker 3 (07:01):
I think that that philosophy that you're describing is not
confined only to crypto.
Speaker 1 (07:04):
Right.
Speaker 3 (07:04):
We're seeing the rule back of regulations in other parts
of the financial markets. Things that affect you know, FinTechs,
things that affect payment companies, things that affect whether like
Apple and Google are considered to be providing financial services.
So to me, the fact that this thing is happening
in crypto isn't because crypto is like uniquely special in
terms of its regulatory love being success. Is that the
(07:26):
White House policy on a lot of these things is
you know, a very like individualistic do your own research attitude.
Speaker 1 (07:32):
I mean, to me, like the stable coin thing is
almost scarier than the Trump and Malani coin. Like I
feel like we have a framework for understanding that. It's
like the sneakers or whatever Trump is on TV with
a commemorative plate being like, Hey, this thing might not
go up in value, but you sure you're sure want
to get Like, I don't know that there are that
many people buying trump coin who really see it as
(07:53):
like a good investment. Stable Coin has stable in the name,
it's also basically like an unregulated bank. It just seems
like that is where you could imagine real economic risk.
It kind of fits the framework that you're laying out
in other parts of the financial system.
Speaker 2 (08:10):
Can you also just describe, like what is happening with
stable coin in a foundational way?
Speaker 3 (08:15):
Sure?
Speaker 1 (08:16):
So.
Speaker 3 (08:16):
Stable coins are the things that international financial regulators, especially
people who care about stability, worry about the most when
it comes to the incursion of crypto and traditional finance.
And it's for two reasons. One, as you say, the
name gives people the impression that, like, this is a
totally chill thing, like it's it's tagged to a different asset.
(08:37):
It's fine, And for certain categories of stable coins that's
largely true.
Speaker 1 (08:41):
Right.
Speaker 3 (08:41):
It's designed to maintain a steady value with something like
the dollar or the euro or the yen. And the
way that it achieves that for a majority of these
kinds of stable coins is the people who issue it
hold a bunch of assets that are very liquid, and
so if you need to redeem the dollar value of
that thing, somebody will go off to their vault sell
their gold.
Speaker 2 (09:01):
There's not going to be a run on the bank.
Speaker 3 (09:02):
So it's not going to be a run in the bank.
That's the theory. The practice is not all stable coins
have been created equal, and even the ones that are
able to demonstrate that they have the reserves backing them,
et cetera, have been prone to volatility in ways that
have stressed people out. So one of the things that's
happening in the US is the US Congress is hotly
debating some stable coin legislation that will actually provide more
(09:24):
of a framework that would include things like investor protections.
Who do you call if your stable coin dollar is
no longer actually worth a dollar? Hasn't been passed yet, has.
Speaker 1 (09:33):
Been the Genius Act.
Speaker 3 (09:34):
This is the Genius which is like a callback to.
Speaker 1 (09:36):
The stable Genius things.
Speaker 3 (09:37):
I guess yeah, because there's also a Stable Act. There's
the Genius Act, the Stable Act. They have slightly different provisions.
It's very stable genius haha. But this, I think is
a good example of where there is barth partisans consensus
that this particular element of blockchain doesn't look like it's
going away, and it seems better to have legislation around
it rather than not. Now you've mentioned the Trump stable
(09:58):
coin that stable coo is issued by World Liberty Financial,
which is the Trump family crypto project is largely run
by the SUNS. It's promoted by the President on various
social platforms, and it's very very new. It's in fact
not officially launched to the public, but it has had
some extremely high profile deals including the issuance of this
(10:21):
stable coin.
Speaker 2 (10:22):
At the moment, is it pegged to the dollar or
what is it?
Speaker 3 (10:25):
They describe it as a US dollar pegged stable coin,
so in theory it should maintain a one to one
relationship with the US dollar. What we don't yet have
a lot of visibility into is what their reserves look like. Right.
So the other big stable coin issue is tether circle
provide varying degrees of attestations and financial statements that say, hey,
(10:47):
we've got you know, ex billion dollars worth of treasuries
being held by Cantor or black Rock or whoever. We
haven't seen that yet for World Liberty State.
Speaker 1 (10:55):
Any you just hope it's not held like exclusively in
Trump wine or Trump sneakers or or some other asset.
Last thing, jd Vance this was in some ways a
victory lap. I think he's like saying thank you to
the industry for supporting him. But he made a pitch
at the end of this talk essentially for more engagement,
like essentially saying to these guys and gals at the
(11:18):
crypto industry conference, like, Hey, you need to like stay engaged,
you need to support us this political alliance between Trump
and crypto, Like how big do you think it is?
There was an interview in New York Magazine where Mark
Cuban and he actually said the same thing to me
a couple of weeks ago, but unfortunately New York Magazine
got it out before me. But in any case, he said, like,
(11:40):
crypto costs democrats the presidency, and I think there are
real questions about like how seriously we should take this.
Obviously that's a claim that the industry really likes. But
how valuable is this cohort politically? To Donald Trump?
Speaker 3 (11:54):
I would say financially, it's very valuable. Right, So, the
crypto industry, starting with Sam Bankman Free in a different time,
really changed the perception of how much money they would
give to political candidates, Like you know, the sbf ftx
Ero was very much we're going to donate aggressively to
Democrat and Democrat alliance causes. Under Trump, the industry stepped
(12:15):
up substantially both before the election and then continuing into
donations to the inaugural parties and all that. Like we're
talking multiple millions of dollars of gifts just from crypto,
like up there with pharma and tech. And you know,
Brian Armstrong who's the chief executive officer at coinbase and
has done a lot of work with the fair Shake Pack,
has made it clear that the midterms, that the big
(12:37):
crypto pack, right, the midterms continue to be like a
priority area for donations for campaign support, and so Jdvance
is rightly recognizing that the industry has said, we will
keep showing up for you, and so you know, they
want to be explicit about thank you for doing so
Here's here's what else we have on the pipeline.
Speaker 4 (12:56):
Well, they really have like an existential stake in this,
right crypto. I mean, as far is being able to
have access to different markets and regulations, it seems like
this is a good investment for them.
Speaker 3 (13:07):
I think if we go back to the kind of
the Mark Cuban argument, and I'm not going to get
into sophisticated political analysis, but essentially that comes from a
place of what crypto allows people to do is like
self actualize financially in a way that's not intermediated by
gatekeepers and having to have a broker or be rich
enough to be a qualified investor. You can kind of
(13:29):
go out there, do your own thing and see the
numbers go up. And that is a very powerful argument
that has been used a lot by the crypto industry
for many, many years. We are not the banks, we
are not the government. We're in it for you, and
you can also be in it for you. It's a
very individualistic appeal.
Speaker 1 (13:45):
Yeah, it's a powerful appeal. All right, Stacey Marie, thank
you for being here. We'll have to have you back
on soon. Next time something crazy happens.
Speaker 3 (13:52):
Sure it will cause
Speaker 2 (13:53):
You Stacy Coin, No
Hey, Max Chafkin here. As you know, I have been
working on a new podcast, Everybody's Business, that we've been
putting in this feed, dropping episodes every Friday, and I
have some difficult news to share with you listeners that's
about to change starting this week. You have to go
to the Everybody's Business feed to listen to the show.
You can find links to that show in the notes,
(00:21):
or you can just type it into your podcast app.
But as a parting gift, like a little last morsel
before we cut you off completely, here is an excerpt
from this week's episode. To hear the whole thing again,
head over to Everybody's Business and while you're there, subscribe
to it, review it. We'd really appreciate your support. So
(00:42):
from a coin that's going away, to the new coins,
to the future of currency every day, talking of course
about cryptocurrency. JD. Vance, Vice President, was in Las Vegas
on Wednesday speaking at the Bitcoin Conference. This is the
same event that Donald Trump spoke at last year during
the political campaign, and this time it was something of
(01:04):
a victory lab for the Trump administration, essentially claiming credit
for all this support of the crypto industry and asking
for more support in the future. I'm here today to
say loud and clear with President Trump, crypto finally has
a champion and an ally in the White House.
Speaker 2 (01:23):
That sounds like a big crowd. It's like a big
convergence if.
Speaker 1 (01:25):
There are a lot of people who love crypto. As
our guest stadium, Stacey Marie Ishmael Bloomberg's executive editor overseeing
crypto and fintech can attest. Hey, Stacey Marie, Hello, So
there was a lot in this speech from the Vice President,
but it's really just kind of the latest in a
series of love letters that the Trump administration has written
(01:47):
to the crypto industry. Let me just quickly run through
a few. You had the Trump and Malania coins, the
dinner about those coins, Trump's stable coin, the Crypto Reserve
Executive Order, the pardoning of Ross Olbrick, defang any sec.
It goes on and on and on. Stacy Marie, how
would you characterize the White House's approach to crypto sort
(02:12):
of overall of all those things, like what has been
most important or most interesting?
Speaker 3 (02:17):
I would say, from an efficacy perspective, if I think
about this as like what's been material to the fortunes
of crypto people as opposed to what are they happiest about.
Certainly the difference in the regulatory approach under the Trump
White House versus the Biden administration is pronounced. You mentioned
the moves by the US and Securities Exchange Commission to largely,
(02:41):
I would say, drop or pause a majority of the
more significant crypto cases that they had been prosecuting. But
we're seeing, you know, enthusiastic rhetoric, shall we say, from
the regulators about crypto, which is very different from the
Gensler era of I think you're all criminals who don't
like following rules. Right now, we're hearing, whether it's the
(03:03):
SEC or the CFTC, or the IRS or anybody else,
essentially encouraging the industry to go out, be innovative, try things.
And you know, from a regulatory perspective, our approach is
going to be We're not going to get in your
way unless something egregious or obviously fraudulent is happening. So,
if you are a crypto insider, you currently feel like
you know your money was well spent on all of
(03:24):
the lobbying efforts and the political donations of the past
couple of years.
Speaker 1 (03:28):
Just to say that perspective of Gary Gensler is saying
it's all illegal, like that is the crypto industry's perspective,
one hundred percent of crypto industry, not necessarily what you'd
hear if you talk to Gary Gensler. I think what
he would say is, hey, we just want them to
follow the same rules that other finance companies follow. There
was a moment where I saw people in the crypto
world sort of getting mad at Trump, sort of saying
(03:48):
like he is making us look bad, like he's launching coins.
Speaker 4 (03:52):
When he launched the Trump coin in Milania coin, they
were mad at him exactly.
Speaker 1 (03:56):
They were saying like, we're beyond this. We are we
are building a new finance industry. This is like changing
global finance whatever kind of high minded slash crazy futuristic
ideological thing.
Speaker 2 (04:08):
He also created the Strategic Crypto Reserve, which seems quite legitimizing.
Speaker 3 (04:12):
So I think what you're describing one. There's a timeline thing,
which is President Trump launched the Presidential Meme coin, I
suppose right before he was inaugurated, right, so it was
like a couple of days before January twentieth, and then
the first Lady launched thrown separately through a different entity.
And there was criticism then of the fact that this
looked like the kind of thing that people criticized the
(04:34):
industry for, But the same people who were criticizing it
were very careful not to criticize the president directly. The
rhetoric was like, he must be getting bad advice, right,
because the industry is in this very interesting place of
trying to keep the White House and the President on
side while also worrying about whether this is going to
(04:57):
affect them negatively or there might be too much competition
from the same investor base.
Speaker 2 (05:02):
But trump coin has not like done that. Well, right,
how are these strategies working.
Speaker 3 (05:08):
One of the first things you learned in crypto that
attempting to apply traditional market value analysis to these assets
is like the path to pay. So, you know, one
way to think about the Trump coin is as a
political instrument, a way of declaring kind of allegiance to
a president, an ideology, a way of seeing the world.
(05:31):
It's very similar to you know, the folks would buy
the Trump collectibles, like which featured art of him as
super mad or an astronaut.
Speaker 2 (05:39):
Or or an actual coin or there was an actual Yeah, there's.
Speaker 3 (05:42):
But there's also the Bibles, there's the sneakers, Right, So
a lot of the ways that people are approaching trump
coin is this is a way for me to signal
fidelity to a particular worldview, as opposed to this is
going to be the thing that gets me rich. There
are absolutely people who made out like bandits in trading
trump coin and other mean coins, because there's a lot
of room for that sort of speculative arbitrage and crypto.
(06:04):
But in so much of the conversations that we're having
with people, they're like, this is how they signal that
they are aligned with the presidential cause.
Speaker 1 (06:12):
There was all this conversation before the Trump presidency about
the dangers of crypto, right Gary Gensler to some extent
driving that conversation. You also have seen like investors really
get screwed by buying into you know, rug polish like schemes,
or in putting their money in crypto companies that just
(06:35):
haven't been good stewards of that money. You have Trump
essentially throwing the gates open, changing the regulator environment, and
telling people essentially including Trump and the vice president and
Trump's kids, basically bitcoins going to the moon, like how
much risk is there, I mean risk to this kind
of class of investor, and maybe even broader like economic risk.
Speaker 3 (07:01):
I think that that philosophy that you're describing is not
confined only to crypto.
Speaker 1 (07:04):
Right.
Speaker 3 (07:04):
We're seeing the rule back of regulations in other parts
of the financial markets. Things that affect you know, FinTechs,
things that affect payment companies, things that affect whether like
Apple and Google are considered to be providing financial services.
So to me, the fact that this thing is happening
in crypto isn't because crypto is like uniquely special in
terms of its regulatory love being success. Is that the
(07:26):
White House policy on a lot of these things is
you know, a very like individualistic do your own research attitude.
Speaker 1 (07:32):
I mean, to me, like the stable coin thing is
almost scarier than the Trump and Malani coin. Like I
feel like we have a framework for understanding that. It's
like the sneakers or whatever Trump is on TV with
a commemorative plate being like, Hey, this thing might not
go up in value, but you sure you're sure want
to get Like, I don't know that there are that
many people buying trump coin who really see it as
(07:53):
like a good investment. Stable Coin has stable in the name,
it's also basically like an unregulated bank. It just seems
like that is where you could imagine real economic risk.
It kind of fits the framework that you're laying out
in other parts of the financial system.
Speaker 2 (08:10):
Can you also just describe, like what is happening with
stable coin in a foundational way?
Speaker 3 (08:15):
Sure?
Speaker 1 (08:16):
So.
Speaker 3 (08:16):
Stable coins are the things that international financial regulators, especially
people who care about stability, worry about the most when
it comes to the incursion of crypto and traditional finance.
And it's for two reasons. One, as you say, the
name gives people the impression that, like, this is a
totally chill thing, like it's it's tagged to a different asset.
(08:37):
It's fine, And for certain categories of stable coins that's
largely true.
Speaker 1 (08:41):
Right.
Speaker 3 (08:41):
It's designed to maintain a steady value with something like
the dollar or the euro or the yen. And the
way that it achieves that for a majority of these
kinds of stable coins is the people who issue it
hold a bunch of assets that are very liquid, and
so if you need to redeem the dollar value of
that thing, somebody will go off to their vault sell
their gold.
Speaker 2 (09:01):
There's not going to be a run on the bank.
Speaker 3 (09:02):
So it's not going to be a run in the bank.
That's the theory. The practice is not all stable coins
have been created equal, and even the ones that are
able to demonstrate that they have the reserves backing them,
et cetera, have been prone to volatility in ways that
have stressed people out. So one of the things that's
happening in the US is the US Congress is hotly
debating some stable coin legislation that will actually provide more
(09:24):
of a framework that would include things like investor protections.
Who do you call if your stable coin dollar is
no longer actually worth a dollar? Hasn't been passed yet, has.
Speaker 1 (09:33):
Been the Genius Act.
Speaker 3 (09:34):
This is the Genius which is like a callback to.
Speaker 1 (09:36):
The stable Genius things.
Speaker 3 (09:37):
I guess yeah, because there's also a Stable Act. There's
the Genius Act, the Stable Act. They have slightly different provisions.
It's very stable genius haha. But this, I think is
a good example of where there is barth partisans consensus
that this particular element of blockchain doesn't look like it's
going away, and it seems better to have legislation around
it rather than not. Now you've mentioned the Trump stable
(09:58):
coin that stable coo is issued by World Liberty Financial,
which is the Trump family crypto project is largely run
by the SUNS. It's promoted by the President on various
social platforms, and it's very very new. It's in fact
not officially launched to the public, but it has had
some extremely high profile deals including the issuance of this
(10:21):
stable coin.
Speaker 2 (10:22):
At the moment, is it pegged to the dollar or
what is it?
Speaker 3 (10:25):
They describe it as a US dollar pegged stable coin,
so in theory it should maintain a one to one
relationship with the US dollar. What we don't yet have
a lot of visibility into is what their reserves look like. Right.
So the other big stable coin issue is tether circle
provide varying degrees of attestations and financial statements that say, hey,
(10:47):
we've got you know, ex billion dollars worth of treasuries
being held by Cantor or black Rock or whoever. We
haven't seen that yet for World Liberty State.
Speaker 1 (10:55):
Any you just hope it's not held like exclusively in
Trump wine or Trump sneakers or or some other asset.
Last thing, jd Vance this was in some ways a
victory lap. I think he's like saying thank you to
the industry for supporting him. But he made a pitch
at the end of this talk essentially for more engagement,
like essentially saying to these guys and gals at the
(11:18):
crypto industry conference, like, Hey, you need to like stay engaged,
you need to support us this political alliance between Trump
and crypto, Like how big do you think it is?
There was an interview in New York Magazine where Mark
Cuban and he actually said the same thing to me
a couple of weeks ago, but unfortunately New York Magazine
got it out before me. But in any case, he said, like,
(11:40):
crypto costs democrats the presidency, and I think there are
real questions about like how seriously we should take this.
Obviously that's a claim that the industry really likes. But
how valuable is this cohort politically? To Donald Trump?
Speaker 3 (11:54):
I would say financially, it's very valuable. Right, So, the
crypto industry, starting with Sam Bankman Free in a different time,
really changed the perception of how much money they would
give to political candidates, Like you know, the sbf ftx
Ero was very much we're going to donate aggressively to
Democrat and Democrat alliance causes. Under Trump, the industry stepped
(12:15):
up substantially both before the election and then continuing into
donations to the inaugural parties and all that. Like we're
talking multiple millions of dollars of gifts just from crypto,
like up there with pharma and tech. And you know,
Brian Armstrong who's the chief executive officer at coinbase and
has done a lot of work with the fair Shake Pack,
has made it clear that the midterms, that the big
(12:37):
crypto pack, right, the midterms continue to be like a
priority area for donations for campaign support, and so Jdvance
is rightly recognizing that the industry has said, we will
keep showing up for you, and so you know, they
want to be explicit about thank you for doing so
Here's here's what else we have on the pipeline.
Speaker 4 (12:56):
Well, they really have like an existential stake in this,
right crypto. I mean, as far is being able to
have access to different markets and regulations, it seems like
this is a good investment for them.
Speaker 3 (13:07):
I think if we go back to the kind of
the Mark Cuban argument, and I'm not going to get
into sophisticated political analysis, but essentially that comes from a
place of what crypto allows people to do is like
self actualize financially in a way that's not intermediated by
gatekeepers and having to have a broker or be rich
enough to be a qualified investor. You can kind of
(13:29):
go out there, do your own thing and see the
numbers go up. And that is a very powerful argument
that has been used a lot by the crypto industry
for many, many years. We are not the banks, we
are not the government. We're in it for you, and
you can also be in it for you. It's a
very individualistic appeal.
Speaker 1 (13:45):
Yeah, it's a powerful appeal. All right, Stacey Marie, thank
you for being here. We'll have to have you back
on soon. Next time something crazy happens.
Speaker 3 (13:52):
Sure it will cause
Speaker 2 (13:53):
You Stacy Coin, No
Host
David Papadopoulos
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
The Joe Rogan Experience
The official podcast of comedian Joe Rogan.
True Crime Tonight
If you eat, sleep, and breathe true crime, TRUE CRIME TONIGHT is serving up your nightly fix. Five nights a week, KT STUDIOS & iHEART RADIO invite listeners to pull up a seat for an unfiltered look at the biggest cases making headlines, celebrity scandals, and the trials everyone is watching. With a mix of expert analysis, hot takes, and listener call-ins, TRUE CRIME TONIGHT goes beyond the headlines to uncover the twists, turns, and unanswered questions that keep us all obsessed—because, at TRUE CRIME TONIGHT, there’s a seat for everyone. Whether breaking down crime scene forensics, scrutinizing serial killers, or debating the most binge-worthy true crime docs, True Crime Tonight is the fresh, fast-paced, and slightly addictive home for true crime lovers.