Look Out! This is how Coinbase plans to DEFEAT US REGULATORS!

This is going to be kind of like our 5G Or semiconductor moment where in five Years we'll be thinking how do we get This back on Shore if we don't do Something now cryptocurrency has entered A pivotal moment in its life cycle this Next year we'll Define the next five Years and now we have proof that Institutions have been secretly buying Bitcoin as it went down to seventeen Thousand it wasn't a shock to me that You saw some of those institutions step In for the very first time buy Bitcoin Why everybody's starting to realize this It will have to be a component in a Portfolio of broad portfolios like a Pension fund Wall Street bigwig Tom Farley the CEO and chairman of the board For farpoint Acquisitions Corp comes Clean on everything institutions have Been doing behind the scenes listen to This listen to what he says at the end What's happened with Bitcoin when Bitcoin was at sixty thousand you had a Lot of Institutions on the sideline who Were looking and saying boy we'd like to Invest we'd like to allocate one two Three percent of our portfolios Pension Funds for example but at sixty thousand It feels toppy there's some Mania but They've done the diligence they've met With their investment committees and so As it went down to seventeen thousand it Wasn't a shock to me that you saw some

Of those institutions step in for the Very first time buy Bitcoin store it in Their portfolio so I knew there was a Buyer but interesting that those Institutional buyers stepped in when it It was showing its volatility you would Think that the opposite would be true That they would want to stay away unless You think now that this is such a Critical asset class that no one can Afford that to be in it yeah well it was A moment of capitulation so I if we Could see all the books and Records I Think it'd be a combination of some Really smart Bitcoin whales that have Been in it for 10 years and then fairly Quickly some of those institutions Stepping in that's exactly what's Happened I mean look in crypto yes Bitcoin's up 40 it doesn't mean it's Going to go up another 40 but in crypto There's Bitcoin And then there's literally everything Else Bitcoin is trusted it's largely Censorship resistant there will only Never be 21 million Bitcoins it will Have to be a component in a portfolio of Broad portfolios like a pension fund Maybe just to a small extent but it will Have to be there you probably watched Gary Gensler get grilled in Congress Yesterday watch our video If you haven't You're pushing a woke political and Social agenda and I think abusing your

Role in the authority of the SEC as Cover frankly your front running Congress you're front running the courts You're front running even the own Administration and no one has held you To account for that I mean I wish the Bite Administration would say You're Fired uh but there won't let the list of Folks they need to do that for is long Congress hopefully will with the SEC Stabilization act and in the Gary Grillings you probably saw somebody Photo bomb Gary with this coinbase stand With crypto Shield here it is what is This what is the stand with coinbase Movement should we be supporting this CEO of coinbase Brian Armstrong explains What coinbases stand with crypto Movement is and why you should support It so stand with crypto is here to tell People that 52 million Americans have Now used crypto that's 3x the number That own electric vehicles it's more Than hold Union cars in the United States it's a massive constituency and They're frankly a little unhappy with The us because the US is lagging behind We don't have clear rules on the books Like 83 of the rest of the G20 countries So for how crypto should be regulated How consumers should be protected and How this Innovation can happen here in The US and so there's a couple of bills Going through the house right now that

Have bipartisan support for how we get Clear Market structure how we get stable Coins in the US and these entrepreneurs And the 52 million Americans really want This to happen and so we're here we're Here talking about stand with crypto We've got the pins people can check out Stanwood go.org and sign up if they want To be a crypto Advocate this is a Something America needs to get right by The way if we lose crypto in America it Will be hard to get it back this is our Moment and you only get one moment watch The CEO of coinbase Brian Armstrong Explain that this is kryptos 5G moment Where if Congress doesn't act within Five years major ground will be lost to Overseas and will be desperately trying To get this back on Shore listen we know That a lot of these crypto CEOs are Trying to showcase the number of jobs That are really being created in this Country through the crypto industry I Know that you coinbase have also been Involved in efforts in Ohio the home State of Senate Banking Committee chairs Sharon Brown is it really possible to Motivate and Galvanize people to vote Based on crypto I think so of those 52 Million Americans Um you know some of them if this is a Single issue voter for them you know They really want to see that this is Going to happen here in the U.S and in

Ohio specifically there's 1.3 million Americans who have used crypto they've Started to see these jobs go offshore They've started to see the harm that's Happened by the lack of clear rules so I Think they're definitely looking at Their elected representatives including Sherrod Brown to see how they're going To respond to this issue and are they Going to come and put clear rules in Place or are they going to ignore it and What are you hearing from lawmakers so Far in the meetings that you've had yeah So we've had some really amazing Meetings today with the highest levels Of our of our government lawmakers and I Think there's a general consensus and Understanding from both sides of the Aisle that this is an important issue we Can't keep having you know Americans be Harmed and having this move offshore This is going to be kind of like our 5G Or semiconductor moment where in five Years we'll be thinking how do we get This back on Shore if we don't do Something now so the law the lawmakers I've spoken with are all high level Aligned to this principle it's kind of Common Sense let's make some clear rules But politics you know are messy and so These bills need we need to get people From both sides of the aisle to come to Together on a few little remaining Issues like for instance you know is

There a state pathway for stable coins In addition to the federal pathway and I Think we as an industry we're flexible Honestly I think what there's a Reasonable set of places where these Rules could land I'm okay with any of Them I just want there to be clear rules Because in the absence of that you know The SEC has just been on this path of Regulation by enforcement or harassment If you will where every startup in the Space gets a subpoena or a Wells notice And that's not sustainable and it's not Okay guys get 10 off tickets to bitcoin Amsterdam linked below will be there Hope to see you there if you're in Los Angeles on October 5th we will be Attending the roast of Wendy oh I'll Link this in the description this should Be fun and by the way for those of you Wondering about updates about the SEC Versus coinbase case subscribe like the Video show up here tomorrow this is what You need to know SEC chair ginsler is Speaking of is testifying right now on Capitol Hill before the house Financial Services committee uh he seems to be Reiterating much of what he said in the Past that the industry is Rife with Non-compliance certainly the SEC has Brought a suit against coinbase uh what What are your latest thoughts on the Sec's actions uh the enforcement if they Were to win your case is there a path

Forward for coinbase in the U.S Well as I mentioned you know the SEC has Gone zero for three on the last three Judges rulings and so we feel very good About our case Um some of the the facts that those Judges have already ruled on for Instance that the underlying assets Themselves were not Securities multiple Judges have come to that conclusion and That's a key fact in our case as well so I feel good about about the path that's Going there but um You know the SEC I think uh they did my Understanding is that Gensler did share Something in the testimony today which Is that he believes that the scfdc Should have spot Market Authority the Administrative branch has said that is Now he's finally saying that some of These bills that just got bipartisan Support in the house also say that they They carve out a clear path for where The cftc should regulate and the SEC Should have a role in crypto Securities There should be a pass to register those Which hasn't happened to date so um Maybe we're starting to see some Consensus there I don't know but um There's a lot of people in Congress that Are unhappy with his approach