We believe that consumers win when there's choice available to them. At the same time, we've heard from a number of Senate Republicans that they do have concerns about what this could mean for community banks in particular and the stability of the banking system overall. We're not deaf to those concerns. We definitely believe that this is the direction of the future, that stable

coins and crypto overall is ultimately going to lead the way.

This is Sam Ewan for CoinDesk. I am here with Patrick Witt, executive director, president's

council of advisors for digital assets. I am here with Patrick Witt, Executive Director, President's Council of Advisors for Digital Assets.

I am really interested, Patrick, in getting your interpretation of all the events last week that happened in Davos.

I thought it would be great for us to hop on, just take a couple of minutes.

It seemed like there was a ton of energy there.

I read your Twitter feed. You were definitely

actively involved. I just wanted to get a sense from you of, you know, how you thought

crypto showed up on the global stage at Davos last week. It was a turning point. I think it was

recognition that we've entered a new era here. The president obviously spoke about

the work that the administration has done to bring crypto into the regulatory framework to normalize it as an asset class,

making part of our financial infrastructure of the future, and also signaled his commitment to

continue that work with the passage of the market

structure bill and many of the other regulatory actions that we can do cross-agency.

My boss, David Sacks, over there, I think gave a number of great remarks recognizing the balance

that we're trying to strike between traditional incumbents and the new crypto entrance.

And in some ways, they're going to be a symbiosis there.

They're going to work together.

And in other ways, they're going to compete.

But consumers win when there's choice.

And we're on the side of innovation.

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