Brian Armstrong x Nikhil Kamath | Ep. 24 Trailer | People by WTF

Brian Armstrong (0:00)

India, believe it or not, is the number one crypto country in the world by the number of people who use it.

Nikhil Kamath (0:05)

I read it and I don't know if I believe it.

Brian Armstrong (0:07)

Maybe you're not seeing it day to day, I don't know.

Nikhil Kamath (0:09)

I don't see it. Welcome to my fake house.

Brian Armstrong (0:20)

I accept that.

Nikhil Kamath (0:30)

If a bank is going to struggle, even with holding a fractional portion of the reserve, how will you do better, needing 100% of the reserve always to be pumped?

Brian Armstrong (0:41)

We should have a financial system that does not have fractional reserve as the foundation.

Nikhil Kamath (0:45)

Do you believe in it? I were a banker.

Brian Armstrong (0:49)

If there's some other part of your question I'm missing on that, though, just let me know. In the US, in the last administration, the SEC chair, Gary Gensler, who is this polarizing figure.

Nikhil Kamath (0:57)

You sued them and you won.

Brian Armstrong (0:58)

We did. We sued the SEC, we won. If we had capitulated, it would have probably spelled the end of the crypto industry in the United States.

SPEAKER_3 (1:15)

I followed a journey from the beginning. It's quite commendable, and you always fought for what's right.

So my question is, massive machine learning programs that decode human emotion real time in relation to Bitcoin, are you willing to give that access to these kind of market participants in the US in the future?

Nikhil Kamath (1:35)

Where is base heritage?

SPEAKER_3 (1:36)

You guys spoke about regulation and licenses, like, it's still somewhat gated. Brian for president in the future?