. >> the ai crypto narrative is confusing. how does crypto make ai better or safer? out there. and the reverse is how does ai make crypto better or safer? there we have used ai to create new casinos and crypto in the form of online accounts tied to llm's creating their own clients and launching their own coins. to me, that is not interesting. what i'm looking at is how can crypto and opportunities around aggregation and financial is asian -- financialization make crypto and ai better than i'm looking at what apple is doing. obviously the big story around deepseek is what is going to happen to all of this energy and compute capex and some of the early efforts we are seeing and crypto to aggregate the long tail of compute into these marketplaces where you can pay in stablecoins is interesting. caroline: i am interested in what the regulatory spirits have meant underlying what has felt like number go up on bitcoin. what has the trading told you? >> if we look at markets, what is interesting is you see a lot of sentiment online and it is easy to say something but if you

. >> well, and as you point out, the narrative of that, taking crypto bros and making them rich overr, it's not what the working class agenda of maga would tolerate, right? in theory, it's such a transfer of wealth to the richest again and again. one would think there would be political fallout from that. >> when i put all of the stuff, the trump policies, just the notion that crypto has enriched a certain set of people who have become important political donors to this researcher, molly white, that studies cryptocurrencys, and the volatile effects. what she said to me was striking, which essentially is, there's this antiinstitution gnat authority adopted by these folks. then once they get the power or the influence, they basically lose that and say, well we're not antiinstitutionallist, we want to be the institutions. we want to be the authority. that's what we're trying to see here with, you know, if these trump proposals go through. if we start to see, you know, the regulations for crypto that help it thrive. i think what will happen, it is going to be a new set of authority and i

do have that conflicting trump crypto trade where we're worried about inflation because of tariffs and other policies that could really kind of dominate the bitcoin narrativeich we saw the post-election rally, and i think that the optimism around the pro-trump crypto trade kind of overshadowed those macro drivers at the beginning of this year. but it's going to be volatile, in terms of actually seeing policy come out of this pro-crypto congress and white house, it could take 9 to 12 month. we'll see. >> plenty of wait and see right ahead of us. the strong dollar hasn't held it back either. that's another interesting way it has correlations upside down. >>> up next, we're drilling down on energy. what could be in store for that space amid a second trump administration. we'll discuss after this break. >> don't forget, you canat on the go by following the closing bell podcast on your favorite podcast app. the road to opportunity. is often the road overlooked. (♪♪) at enterprise mobility, we guide companies to unique solutions, from our team of mobility experts. because we believe the more ways we all have to move forward. the further we'll all go. new project

crypto rallying we've seen the dollar rallying as well. to me it almost feels counterintuitive from a fundamental narrative that the dollar is this reserve currencystina: that's what's interesting about her current moment. a lot of it is just tied to the personality of donald trump and just so happens both of those are trump trades right now. i think you can almost say the same about both in that they are momentum assets. if you compare it to some fundamentals people will say there is no fundamentals in bitcoin but they can see it pretty stretched. the question is does that mean as soon as we get any indication on the contrary we will see a pretty -- a crypto selloff. kriti: giving a boost to the euro and the pound. justina lee, a pleasure to have on the program for walking us through some of the markets stories. you're getting live images from the white house. we are waiting, joe biden and donald trump to leave the white house and head over to capitol hill. at the moment we just saw melania trump and jill biden leave now we are seeing kamala harris and jd vance also head over to the capitol hill building. next up we of course believe it will be

to push that narrative, saying that they're bitcoin voters who are single issue voters that are going to vote with their wallets. obviously, donald trump that thinks that there are some crypto voters and he's going after them. hey, you take everything you can get. now, let me just factually check. donald trump says he's going to keep all the bitcoin jobs in america, and there are jobs at robinhood and coinbase and whatnot. and those are generally based in america. but bitcoin is supposed to be kind of border free, right? that is one of the great promises of bitcoin that it's supposed to be decentralized out of the hands of every government. it was created in the ashes of the 2008 financial crisis, when people thought that maybe the us government and the nks had too much control. so i think for a presidential candidate to say, to use it and put a sort of nationalist spin on it kind of goes against its core principles. right? okay. well, so you mentioned a financial crisis. the pandemic stimulus really had a big effect on bitcoin. this was in your book. you you mentioned a cnbc study. 11% of young people used at least part of their stimulus check to buy bitcoin. and they prof