Bits + Bips: What Could Spark the Next Crypto Bull Cycle? - Ep. 980
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Ethereum, I agree with Chris' point. It is, in a way, like, traffic chain. It is traffic chain. It's designed for that. It's got the Linde effect. It's got the history.
The Biden SEC systematically missed or failed to interdict every single major crypto fraud one after another. Like, they did not get FTX. They did not get TerraForm Labs. They did not get Celsius. They did not get Three Arrows Capital.
When you have one of your biggest competitors, led by a guy named Larry Fink saying, I'm tokenizing everything. Well, he probably has a reason for doing that.
Welcome everyone to yet another episode of Bits and Bips, where we explore how crypto and macro collide one basis point at a time. I am still your host despite the best efforts of the SEC, Austin Campbell, high scholar of Zero Knowledge Group, and I'm here with my usual two coconspirators, Chris Perkins, the golden hand of CoinFund, and Ram Alawwalia, maester of wealth, the head of Illumina. And today, we're joined with Elizabeth Kirby, the high lady of market structure at Tradeweb. And for those of you who are super crypto natives and unfamiliar with Tradeweb, I will summarize them only as th
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Alright. Let's start with some breaking news. So in our lead up in discussion of what we're gonna talk about today, news dropped that the Senate Banking Committee, quote unquote, has run out of time to mark up market structure legislation this year, and the hearing will now be pushed into the new year. I know we've discussed this once or twice and expressed maybe some skepticism about timeliness in the past, but I'll start. Chris, what do you think is going on here?
Yeah. I think both you and I, Austin, I don't wanna say I told you so, but I told you so. Like, we knew this was way too complex. Genius was, like, next to impossible to get across the board. Now everyone's freaking out that, you know, there's this whole interest issue going on. It's such a difficult piece of legislation. It's not even funny, and it's no surprise to me that it's getting pushed. We talked about some of the issues that were holding it up. This maniacal focus on on Donald Trump ethics that seems to be stopping everything. Additional issues maybe around DeFi where look. We saw Cit
Thanks. And first of all, thank you guys for having me. I'm so excited to be here. Excited to to to dig into some of these topics with you guys. Look. I agree. I the unfortunate truth is I don't think it's terribly shocking that we didn't get this done this year. It's a massive, giant, multifaceted, hulking piece of legislation. And, you know, as you guys have rightly mentioned, there are different groups that are focused on different elements of it. There are vastly, vastly different degrees of knowledge understanding of these markets by the people, you know, who are kind of tasked with pushi
Can I ask you a question? So you're at the heart of institutional execution. And do you think that there needs to be a law passed for institutions to come in, or are they coming in every single day? How do you think about it?
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