What does the crypto industry want?
Marketplace
Marketplace
4.6 • 8.5K Ratings
🗓️ 11 November 2024
⏱️ 28 minutes
🧾️ Download transcript
Summary
Cryptocurrency firms are thrilled with last week’s election outcome. For them, a second Trump term means a friendly face in the White House. What do they want this time around? Surprisingly, some rules. Also in this episode: Beef futures are up, inflation stalls just above the Federal Reserve’s target, and we dig into how the National Institutes of Health spent $1.6 billion in federal funding for long COVID research.
Transcript
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| 0:21.9 | On the show today, the crypto industry looks to cash in on its election bets, the latest on inflation, plus what the rise of AI means for climate investment. |
| 0:34.2 | From American public media, this is Marketplace. |
| 0:45.6 | In Baltimore, I'm Amy Scott in for Kai Rizdahl. It's Monday, November 11th. Good to have you with us. |
| 0:53.0 | Bitcoin continued its post-election rally today, |
| 0:56.4 | hitting a record price of more than $87,000. The cryptocurrency industry spent millions of |
| 1:03.2 | dollars to help elect pro-crypto candidates this election, including President-elect Donald Trump, |
| 1:09.2 | who promised to make the United States the crypto capital of the planet and whose family has a new crypto business, World Liberty Financial. |
| 1:19.1 | Marketplaces Stephanie Hughes has more on what the industry wants in the next four years. |
| 1:24.3 | Coinbase is one of the largest crypto exchanges in the world. |
| 1:32.1 | Paul Graywall is its chief legal officer, and he is feeling good right now. |
| 1:34.2 | Vegas winner last week was crypto. |
| 1:38.2 | This comes after the Biden administration took a pretty aggressive approach to crypto. |
| 1:44.1 | Graywell says Coinbase would now like to see the new Congress pass new laws, including one that would clearly |
| 1:45.0 | define what crypto assets are and who exactly is in charge of making the rules governing them. |
| 1:50.7 | He says a lot of crypto companies want this. |
| 1:53.5 | All of us are begging for sensible standards that would allow us to get back to building great |
| 1:57.8 | products and services and spend less time and, frankly, less money arguing over legal definitions and statutes. |
| 2:04.3 | Coinbase and another big crypto company, Circle, are also hungering for a law around stable |
| 2:09.2 | coins. These are digital currencies. Their value is linked to an existing asset, often a |
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