Ethereum

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 🪙 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.

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?

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.

Sacks support ×2 ▼ on 🪙 Crypto collapse triggers a multi-year enforcement and litigation wave E184 · 2024-06-20 ▶ 1:36

You got the crypto guys who just want a framework. They just want the government to tell them how to operate and they can't get that.

Sacks support ×2 ▼ on 🪙 Crypto collapse triggers a multi-year enforcement and litigation wave E182 · 2024-06-07 ▶ 25:07

You just had Biden veto a bill that would have finally given crypto a regulatory framework in the US. It passed with 60 votes in the Senate, including Democrats like Chuck Schumer, and it still wasn't good enough.

Chamath support ×2 ▲ on 🪙 Spot ETF approvals extend past Bitcoin to Ethereum E169 · 2024-03-08 ▶ 1:22:26

People are now speculating that there's going to be an Ethereum ETF that gets approved as well, because if you approve one, there's probably legitimate cause to approve a few others. So these things are becoming part of the financial fabric, and I think that that should not be underestimated.

Friedberg oppose ×2 ▼ on 🪙 Crypto collapse triggers a multi-year enforcement and litigation wave E137 · 2023-07-14 ▶ 34:37

It's a judgment that seems to indicate for a lot of folks that these are not going to be treated as securities.

Chamath oppose ×2 ▼ on 🪙 Crypto collapse triggers a multi-year enforcement and litigation wave E137 · 2023-07-14 ▶ 32:25

And it really handcuffs the SEC. What are they going to do about Coinbase and every other exchange? I mean, if they're not selling securities, I think Coinbase and everybody else has always maintained they're selling tokens.

Friedberg support ×2 ▼ on 🪙 Crypto collapse triggers a multi-year enforcement and litigation wave E132 · 2023-06-10 ▶ 14:51

But as the retail market took their hits, the SEC has to step in and Congress steps in and everyone starts to say it's time to act, we should have acted sooner.

Sacks support ×3 ▼ on 🪙 Crypto collapse triggers a multi-year enforcement and litigation wave E132 · 2023-06-10 ▶ 15:53

However, the case against Coinbase, they're alleging a completely different set of facts, which is effectively what Gensler and the SEC are saying is that it is not legal to operate a crypto exchange in the United States.

Jason support ×3 ▼ on 🪙 Crypto collapse triggers a multi-year enforcement and litigation wave E132 · 2023-06-10 ▶ 11:31

Their function is to protect investors. Investors lost a bunch of money. Therefore, they are going to retroactively inflict pain and hold people accountable for their mandate, which is to protect investors.

Chamath support ×3 ▼ on 🪙 Crypto collapse triggers a multi-year enforcement and litigation wave E132 · 2023-06-10 ▶ 9:43

And so they're coming down hard, and they're going to go and systematically dismantle the largest actors, and they're going to go through the value chain. So I think the obvious place that they're looking now are the exchanges, they'll look at the custodial services, they will not approve any ETFs.

Sacks oppose ×2 ▼ on 🪙 Crypto collapse triggers a multi-year enforcement and litigation wave E124 · 2023-04-14 ▶ 1:07:43

And if anything, it's cleaned up the Bitcoin community tremendously. And I think it's dispelled this idea that the only thing you'd use Bitcoin for is black market transactions.

Chamath support ×2 ▼ on 🪙 Crypto collapse triggers a multi-year enforcement and litigation wave E124 · 2023-04-14 ▶ 1:11:03

Because it looks like that this anonymity has effectively been reverse engineered and there's no anonymity at all. And so what Bitcoin is quickly becoming is like the most singular honeypot of transactional information that's complete and available in public.

Chamath support ×2 ▼ on 🪙 Crypto collapse triggers a multi-year enforcement and litigation wave E121 · 2023-03-24 ▶ 50:04

So I think Gensler had to pivot very hard from at a minimum being very pro FTX and there's all kinds of stories about his interrelatedness with Sam and his family to very anti-BIT or anti-crypto in general. That's clearly happened.

Sacks support ×3 ▼ on 🪙 Crypto collapse triggers a multi-year enforcement and litigation wave E121 · 2023-03-24 ▶ 47:18

So I think it's hard to argue that there isn't a concerted effort now to crack down on crypto by a wide variety of government agencies and authorities, starting with Gensler at the SEC, who seems incredibly hostile to crypto.

Jason support ×3 ▼ on 🪙 Crypto collapse triggers a multi-year enforcement and litigation wave E109 · 2022-12-24 ▶ 41:57

And I think there will be a subsequent domino to fall, which is now that Gary G, head of the SEC, has FTX and the FTT tokens as the grift, he's going to go down the list of other tokens.

Sacks support ×1 ▼ on 🪙 Crypto collapse triggers a multi-year enforcement and litigation wave E107 · 2022-12-10 ▶ 1:03:36

As I understand it, based on just what I've read, that there's a 90-day rule around contributions, meaning that if, I think this has to do with the bankruptcy, that if he donated money within 90 days, then that can be unwound.

Chamath support ×2 ▼ on 🪙 Crypto collapse triggers a multi-year enforcement and litigation wave E107 · 2022-12-10 ▶ 1:02:35

if you get money some way, but it comes from somebody who fraudulently acquired that money, you have to give the money back. So in this example, what it would mean is if that they can show that that $15 million that this guy got came from SBF basically raiding the piggy bank of user accounts, he's going to have to pay the money back.