Coinbase lost 557 million dollars in Q4 and has a 4.5 billion dollar cash position, but they also own $861 million in USDC. I think that gold becomes... If the US dollar goes through some sort of hyper-inflationary period or something happens, any part of the world is going to start having to buy gold to back their currencies. And so you can imagine if other currencies are starting to collapse and the global debt to GDP ratio is 350% plus. So this seems to me like there could be a cash crunch here.
Vinny Lingham joins Jason to break down the state of crypto’s de-platforming by the US government. They discuss recent happenings with Coinbase (2:13), Balaji’s Bitcoin bet (20:00), Binance (38:23), SBF (44:07), and more! Then, they wrap with a discussion about the coming balkanization of AI (52:54).
(0:00) Jason tees up today’s topics
(2:13) Coinbase’s Wells notice & the state of crypto