WE'RE JOINED BY PATRICK
ACCOUNT. MCCONNELL WHO IS THE
CEO OF OVER LINE AND FORMER
CITADEL INVESTMENT
GROUP ENGINEER GREAT TO HAVE
YOU HERE WITH US TODAY,
PATRICK, AND YOU'VE GOT TO GIVE
US JUST A LITTLE BIT
MORE DETAIL ON THE VIEW OF THE
ROLE HERE AND REGULATION
PARTICULARLY AND ITS IMPORTANCE
THAT STABLE COINS
PLAY IN THE CRYPTO MARKETS AND
HOW IMPORTANT IT IS TO HAVE
SOMETHING LIKE STATE POINTS FOR
THE QUICK TO MARKET.
>> SO THANKS FOR
HAVING ME HERE I THINK THAT AS
AN INVESTMENT MECHANISM.
THAT'S THAT FIRST USE CASE FOR
STABLE COINS IN THE IN
THE CRYPTO CURRENCY. TRADERS
WORLD IN THE TECHNOLOGY SENSE
FROM A
REGULATIONS STANDPOINT, IT'S AN
AREA
THAT IS IN DIRE NEED OF CLARITY
AND ENFORCEMENT IS A STABLE
CLIMATE SOUNDS GREAT AS
A WORD. BUT IN TERMS OF THE
KIND OF TECHNOLOGY YOU'RE
INVESTING IN IT THERE'S ALMOST
NOTHING THERE
IT'S A PROMISE PARENT
ORGANIZATION HAS HELD
A CERTAIN THE AMOUNT OF GOLD OR
USD DOLLARS AND IN THAT
AMOUNT YOU'RE YOU'RE HOPING TO
GET THE STABILITY OF RETURNING
TO THE CASH
AND SO.
>> WE'RE TAKING A LOOK AT SOME
OF THE FACTS ARE ON STABLE
COINS AS YOU'VE JUST GIVEN US A
QUICK
KIND OF OVERVIEW YOU KNOW WHAT
PARTICULARLY ARE WE LOOKING FOR
THE SENATE'S TO BE ABLE TO TAKE
AWAY FROM THIS PARTICULAR
HEARING.
>> WELL IT IS WHAT'S GOING
TO HAPPEN. THE SENATE IS GOING
TO INCREASING LEARN ABOUT THE
SITUATION UNTIL THEY FEEL LIKE
THEY
HAVE ENOUGH DEATH TO BUILD OUT
A NEW SET OF POLICY OR FROM THE
PA SUPREME FOR STABLE COIN TO
EXISTING
UNITED STATES THAT
UNFORTUNATELY WILL LIKELY LEAD
TO 2 THINGS STABLE GOING
INNOVATION LEAVE THE UNITED
STATES
AND 2, THERE WILL BE GREAT
STABLE COINS THAT ARE ACTUALLY
BACKED BY
REAL DOLLARS FOR WITH COMPANIES
HERE IN THE U.S. SO
AS A THE CURRENT INVESTOR IF
YOU'RE LOOKING TO LEAVE BITCOIN
TO ENTER CASH, YOU'RE GOING TO
WANT TO LOOK FOR THESE
COMPANIES THAT ARE
FULLY REGULATED. AND COMPLYING
IN THE U.S. FROM THE FINDINGS
OF THE SENATE HOWEVER
AS WE LOOK AT WHAT THE
UNDERLYING TECHNOLOGY IS FOR
STABLE COINS. THE INNOVATION
GET SOME OF THESE ARE DRIVING
IS GOING BY FAR CAME IN
TERMS OF WHAT DO YOU KNOW
SOMEONE SHOULD BE LOOKING AT TO
USE IN THE PORTFOLIO A STABLE
COIN SHOULD
NOT MEAN STABILITY BUT IN FACT
A NEW FINANCIAL EVEN IN THAT
LIST THAT WE JUST SAW
SOME OF THOSE ARE STABLE COINS
OTHERS ARE ACTUALLY FAIRLY
UNIQUE ALGORITHMS TO DEAL WITH
FINANCIAL UNCERTAINTY AND SO
WE'RE GOING TO SEE INVOLVING
CLASS OF PRODUCTS ENTERED THE
DEFY SPACE. THEY ARE HEADING TO
ALGORITHMS GPU MINING POWER AND
EVEN YOU KNOW PHYSICAL ASSETS
LIKE BUILDINGS
AND GOLD.
>> EVEN AS CHAMBERS OF CONGRESS
CONTINUE TO RECEIVE THEIR
ACCELERATED COURSEWORK IN SOME
OF THE CRYPTO BROADER SURE
THAT'S OUT THERE AND THE
DIFFERENT TYPES OF COINS AND
ASSETS AS WELL AS THE
UNDERLYING TECHNOLOGY WITH ALL
OF THAT IN MIND YOU
KNOW IF SOMEBODY WAS TO EXPLAIN
TO THEM TO MAKE IT EXTREMELY
EASY TO UNDERSTAND WHAT A
STABLE COIN IS TODAY.
WHAT MIGHT THAT AFFECT OF
EXPLANATION SOUND LIKE HOW
WOULD YOU TELL THEM WHAT IS
STABLE POINT.
>> STABLE COIN IS
A TRANSITION 2. SO YOU
SHOULDN'T BE IN IT FOR VERY
LONG BECAUSE IT'S NOT AS SAFE
AS
A BANK WHICH WOULD GIVE YOU AN
ACTUAL NUMBER OF VALUE FOR THIS
IS HOW MUCH CASH
YOU HAVE. BUT WHAT IT ALLOWS
YOU TO DO IS DOING TO SOME OF
THESE UNIQUE
AND INTERESTING FINANCIAL
INSTRUMENT CERTIFIED PRODUCTS
AND HAVE A DOLLAR
NUMBER NEXT TO IT SO PUT MORE
SIMPLY IT'S
A 2 WARY PERIOD OR A TEMPORARY
THOW YOU TO LET YOU SEE OK I
HAVE THIS MUCH USD
IT ABSOLUTELY SHOULDN'T BE A
SAFETY STORE RIDGE POINT FOR
ANY SORT OF INVESTOR IN THE
SPACE IT'S REALLY A VEHICLE
TO GET VALUE IN AND OUT OF SOME
OF THESE TO FIND PRODUCTS.
>> AND SO WHAT IS THE ROLE OF
STABLE COINS WITHIN THE BROADER
DEFINE MARKET.
>> STABLECOINS ACT AS A
MECHANISM TO PRICE
ASSETS THEY ACTUALLY COMES IN
TO REBALANCE IN THE CASE OF
VOLATILITY AROUND
THAT POINT. SO TRADITIONALLY
WITHOUT BIG COIN MOVING.
RELATIVE TO FOR AN FX OR
ANY EFFECTS THEY'RE
TRADITIONALLY BITCOIN WOULD
ROCK THE WHOLE MARKET AND WHAT
STABLE CAN LIE TO DO
IS HAVE.
>> A LAYER OR LENDING LAYER OR
>> A REBALANCING MECHANISM IN
YOUR INVESTMENT STRATEGY THAT
DOESN'T ACTUALLY LEAVE THE BLOC
CHING ITSELF. SO A LOT OF
EXCHANGES LIKE OVER THE LINE
FOR EXAMPLE WILL OFFER STABLE
COIN AS A WAY FOR YOU TO
REPOSITION ASSETS WHEN YOU'RE
IN BIG COIN AND YOU SIMPLY WANT
TO RETURN
TO ST. WHAT YOU DON'T WANT TO
LEAVE THE BLOC CHENEY
SYSTEM AND.
>> AND SO FOR OVER LINE HOW
MANY OF THOSE COINS DO YOU DO
YOU ESSENTIALLY CATER TO RIGHT
NOW ACTING AS KIND OF THE
INTERMEDIARY ARE PROVIDING THAT
INTO MERRIT MEDIA AREAS, STABLE
POINT. IN THE FORM OF THE
TRANSACTIONS THAT MIGHT TAKE
PLACE BETWEEN KNOW BITCOIN AND
ETHER OR ANYTHING OF THE LIKE.
>> THAT'S A GREAT QUESTION MARK
OPENING OF
10 YEARS, FOX AND MIKE WHAT'S
POSSIBLE IN THIS SPACE AND
THAT'S WHERE I GO BACK TO THE
COMMENT HERE AND THAT WE'RE
GOING TO SEE A LOT MORE CLARITY
FROM
THE SENATE AND THEN WE'RE GOING
TO SEE A LOT OF INNOVATION COME
IN THE FORM OF NEW
FINANCIAL INSTRUMENTS OVER LINE
WILL SUPPORT BOTH
SO WE VERY COMPLIANT WITH
WHATEVER RULES AND CLARITY IS
GIVEN TO US FROM US REGULATORS
WILL ALSO WITH UNDERSTANDING
THAT IN THE DECENTRALIZED WORLD
THERE ARE MOMENTS THAT JUST
CANNOT
BE REGULATED. AND THAT IS PART
OF THE THE POWER OF THIS
TECHNOLOGY. SO WE ARE EMBRACING
COMPLIANCE, BUT ACCEPTING OF
INNOVATION AND THIS CASE, YOU
KNOW THE LINES CASE STABLE
COINS ARE AN INDEFINITE PART OF
OUR FUTURE THAT REALLY CAN'T BE
REGULATED OR TURNED OFF
OR STOPPED. IT'S A IT'S A VERY
INTERESTING SCENARIO WHERE.
>> CASH FOR THE POWER OF CASH
IS KING.
>> COMING IN THE FORM OF THESE
STABLE COINS IN THAT ONCE YOU
HAVE ONE IN
YOUR WALLET. IT'S LIKE
CATCHING. WE CAN'T BE TAKEN
FROM WHERE LIKE YOUR BANK
ACCOUNT OR YOUR CREDIT CARD
COULD
BE FROZEN. YOU KNOW ONCE THE
CASH IN THEIR HANDS WITH THE
SABLE POINT ISN'