What I'm worried about is that we're going to end up with the worst of all worlds where, you know, we end up with crypto more legitimized, but with this poorly regulated system where stable coins are pushed into wider usage, but there are no, the protections aren't really there.

And then once all this stuff blows up in a few months or later this year, then you know,

you have the real contagion into the regular economy and everything goes kaput.

And I don't think they're thinking about that at all. I mean, one, and we've already even

seen, you know, stable coins get deep pegged and contribute to market instability. Or like when

Silicon Valley Bank got bailed out,

its biggest depositor was Circle, which runs USC,

which is kind of like the slightly more legitimate American-based stable coin.

The USDA lost its peg during the SVB crisis and went to like 87 cents.

So, I mean, if you're like, and when you were just talking just now, you made me think

like how there is this totally different role for stable coins for like the average sort

of crypto speculator or whatever dealing with small amounts of money versus like big banks

are probably trying to like arbitrage them.

Yes, they are.

You know, when they lose their pegs, they're trying to like arbitrage that stuff

and do lots of trades and make huge amounts of money.

And it's like, you're right.

It's a completely different kind of world, but we're talking about that kind of the same

product and patchwork regulatory system for it for both audiences.

I've had just like a feeling since a lot of this stuff, I mean really since like Trump

went all in on Bitcoin that I was like something, I know that something bad is going to happen.

I know as this stuff gets more and more enmeshed, like somehow this shit was going to destroy

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