Coinbase Global, Inc.

Sacks support ×2 ▲ on 🪙 Dollar stablecoins are 2025's biggest business winner E236 · 2025-07-19 ▶ 50:34

But now consumers will have the additional protection and confidence to know that all these entities have been audited, they've passed these audits, and they're regulated entities under US law. And that creates confidence for the market, and it's good for everybody. And it will spread the adoption of this stablecoin product.

Sacks support ×3 ▲ on 🏛️ CLARITY Act market-structure bill clears the Senate and is signed by October E236 · 2025-07-19 ▶ 43:27

In fact, the chairman of the Senate Bank Committee, Tim Scott, has said that he wants to finish with the market structure legislation by the end of September. So if all goes well, then we could be looking at a second bill signing in, say, October.

And to pivot to market structure really briefly, this provides the rules of the road for the exchanges, the brokers, everyone in the space. They desperately need it so that we can break down the wall between traditional financial institutions and these digital asset players. I think that's well underway. Obviously, getting a vote as strong as they did in the House is indicative of what can happen in the Senate.

But Genius is unique because it really updates the payment rails inside of our current financial system. I mean, the payment rails have been archaic, and I've likened it to the fact of the ways in which we've communicated have changed quite dramatically over the course of the last several decades. The ways in which we move money really haven't, and we have the technology there in blockchain technology. So what we're doing here is we're fixing the plumbing of our financial system

Jason support ×2 ▲ on 🪙 Dollar stablecoins are 2025's biggest business winner E232 · 2025-06-21 ▶ 1:43:09

now those folks who are running away with the industry, Thomas, now they have to compete with people like Jeremy O'Leary and Circle, which are totally buttoned up here in the United States and it levels the playing field. So it's an example of actually good regulation bringing this opportunity back on shore and taking it out of the gray area.

Sacks support ×2 ▲ on 🪙 Dollar stablecoins are 2025's biggest business winner E232 · 2025-06-21 ▶ 1:38:40

we had this Genius Act, which is the stablecoin bill passed the Senate with 68 votes, got 18 Democrats, they came on board. ... And now we have this first major legislative win. And I would expect the House will act in the next few weeks on this, and then the president will have a bill he can sign.

Sacks support ×2 ▲ on 🪙 Post-halving cycle plus ETF flows reprice Bitcoin against gold E218 · 2025-03-08 ▶ 1:42:33

So we have the reserve and we have the stockpile. So the reserve is just Bitcoin. The goal is long-term preservation. Think of it as like a digital Fort Knox for digital gold. We want to put the digital gold in there. We want to keep it secure. We never want to sell it.

Sacks support ×2 ▲ on 🏛️ Crypto owners become a swing bloc and force a pro-crypto framework E218 · 2025-03-08 ▶ 1:57:46

There is a bill that passed the last Congress in the House, but Biden basically, he didn't veto it, but he basically, he and the Democrats stopped in the Senate, the Democrats did. It was called FIT 21 And it was authored by French Hill, who's now the chairman of the House Financial Services Committee. So we expect that he will be introducing a new version of his bill, probably in the next few weeks. I don't think I'm breaking any news by saying this. I think people expect it. And that's going to provide the framework for market structure.

Jason support ×2 ▲ on 🪙 Stablecoins become the standard US payment rail and crush the card take rate E217 · 2025-03-01 ▶ 27:15

I do think Stripe's main business could be, if we're sitting here in five years, Chamath, could be sitting on $300 billion and getting whatever it is, three, four, five percent on some coupon, right? They could be making $10, $20 billion in pure profit if they have a stable coin out there that gets widely adopted.

Chamath support ×2 ▲ on 🪙 Dollar stablecoins are 2025's biggest business winner E217 · 2025-03-01 ▶ 21:55

Second is I go back to what I've been saying for a while now, but the rise of these stable coins is really interesting. The stable coin infrastructure globally, the push for a bunch of these national governments to embrace them inside of India, inside of Brazil. Slowly, it's happening inside of the United States.

I think stablecoins are going to be a big part of the solution. I actually don't think that's going to supplant all the consumer-facing networks. I think we're going to see consumer-facing networks built upon and substantially leverage these things.

Card programs are not actually big profit pools for most of the major banks... And maybe other points in that space are viable, but it is a set of trade-offs, and it's not as simple as this enormous rent extraction happening.

Chamath support ×1 ▲ on 🪙 Stablecoins become the standard US payment rail and crush the card take rate E216 · 2025-02-21 ▶ 7:49

Is there a moment guys where is it a regulatory event where you'll say the Visa Mastercard duopoly can get challenged?

Jason support ×2 ▲ on 🪙 Dollar stablecoins are 2025's biggest business winner E216 · 2025-02-21 ▶ 10:56

Yeah, that is the huge win for allowing stable coins and making them legal, giving them rails

I think the interesting use of stable coins is cross-border, is outside the US. I mean, the big use case that's taking off right now is consumers in other countries seeking to hold dollars.

Stable coins are finally happening and they're really useful... Just stable coins are I think the first really big payments use case. And I think it's finally coming because the tech is good enough.

Jason support ×2 ▲ on 🪙 Dollar stablecoins are 2025's biggest business winner E214 · 2025-02-07 ▶ 41:20

So the question, I think, after stable coins, which feels like a layup and a great place to start, that'll be a great early win. And it just makes people I guess that would just reinforce the dollar supremacy, right? If it's tied to the dollar, so that's good for America.

Sacks support ×2 ▲ on 🪙 Dollar stablecoins are 2025's biggest business winner E214 · 2025-02-07 ▶ 40:18

The other area is stable coins. And Senator Haggerty, he's on the banking committee. He just released a stable coin bill. There's counterparts in the House. And what the four chairmen indicated is actually they're going to take up stable coins first and then market structure will follow very quickly. So I think we could see a stable coin bill pass Congress in the next several months.

Sacks support ×2 ▲ on 🏛️ Crypto owners become a swing bloc and force a pro-crypto framework E214 · 2025-02-07 ▶ 34:27

This was basically a statement of commitment from the chairs of the four committees that we're going to get legislation done this year, maybe in the next six months. I mean, that's really the goal. And we've never had that before. So that is pretty monumental.

Sacks support ×1 ▲ on 🏛️ Crypto owners become a swing bloc and force a pro-crypto framework E212 · 2025-01-25 ▶ 1:51:35

The main thing it does is it forms an internal working group with the goal of making the US the world leader in crypto. ... And the members of this working group are going to be, there's me, there's the head of the SEC, the Secretary of the Treasury, and all the agencies and departments that have an interest in crypto.

Chamath support ×2 ▲ on 🪙 Dollar stablecoins are 2025's biggest business winner E212 · 2025-01-25 ▶ 1:49:23

I mean, I talked about this at the beginning of the year as one of my predictions, but I do think that the United States stable coin rails will be hugely disruptive and value added.

Chamath support ×3 ▲ on 🪙 Dollar stablecoins are 2025's biggest business winner E209 · 2025-01-04 ▶ 23:12

The biggest business winner of 2025 are going to be dollar-denominated stablecoins... $8.5 trillion of transaction volume — more than double Visa's over the same period... we're going to finally attack the duopoly of Visa and MasterCard... stablecoins could quadruple or quintuple by the end of 25.

Jason support ×2 ▼ on 📈 MicroStrategy's convert-funded Bitcoin flywheel breaks at scale E208 · 2024-12-20 ▶ 3:27

Listen, we're living in an age of meme stocks and people selling convertible notes to buy Bitcoin for their treasury.

So the stable coin being the intermediary for that in the future makes total sense if you could get everybody to kind of coordinate against that.

Chamath support ×3 ▲ on 🪙 Stablecoins become the standard US payment rail and crush the card take rate E208 · 2024-12-20 ▶ 13:14

So the idea that you can take that 300 basis points you pay to these companies and crush it to zero would be a boon to global GDP, because that's 3% on many tens of trillions of dollars.