we are thinking this as one ongoing teachable moment at the blockchain association. : it continues to confound the resolute optimism within a space where we see the new ceo of ftx going through a bankruptcy proceeding, associating -- resuscitating the token. 120% rise in ftt tokens in 2023 because of that uplift. does that signal seeds of change? kristin: i am very skeptical of these tokens that are tied to a specific exchange or platform. i think real crypto assets operate decentralized crypto networks and they are not tied to the success of any single entity or firm. i think the activity happening around the ftt token was pure speculation. that token is not widely traded in the u.s.. i do not think that is necessarily the right answer. i think investors are looking to invest in crypto assets, they need to do their own research and understand what is the underlying network? the crypto industry is not here to build up at oh tokens for the price moves up and down. -- build crypto tokens for the price moves up and down. there are strong use cases around it. what we are

we will talk about it with blockchain association's kristin smith. bloomberg. ♪ online personal styling? what's that? that's stitch fix. and how can you help me? we do the shopping for you. how do you know what i like? and what fits? you tell us your size, budget and style. wait, is it a subscription? no commitment required here. and i only pay for what i keep? yup. i live in denim, can you send me jeans? we've got you. what about shoes? mhhm. styled for me? for me? always. we'll pick the clothes. you enjoy the great fit. stitch fix. the first time your sales reached 100k was also the first time you hit this note... ( screams in joy) save 20% with the lowest transaction fees and keep more of what you make. with a partner that always puts you first. godaddy. tools and support for every small business first. >> there were clearly interparty transactions and loans that were not well understood by the various stakeholders. and we will see what the courts have to say about that. there is multiple entities that will likely file suit. the winklevoss brother

i want to bring in blockchain association ceo kristin smith.out your attempt to help congress get this right. and two things you said they should do. step one is to educate themselves. step two is to exercise restraint. and i'm saying, well, both of those are dead on arrival. [laughter] i hate to say it, but every time we hear folks in congress talk about crypto, it's in the most divisive way possible or the most illiterate way possible, and you say these are the folks who have to make the rules. where do you go from here? >> i think that's a great question. and if you look at where congress is at right now, we have a new congress, they're just convening. we have a brand new digital asset subcommittee in the house financial services. i think it's incredibly clear that we're going to see a lot of hearings and a lot of legislation introduced and discussed in this upcoming congress relating to crypto regulation. i think in, you know, prior to the collapse of ftx this fall, there was a very small group of members of congress who had really taken th

one, you're right, there are some democrats who think anything associated with blockchain or crypto currencye's some republicans who think the future is decentralized finance and digital assets are critical. i think we bring thel together because blockchain is an important innovation area. we want that technology to be done here in the united states we want a regulatory framework that's transparent for developers and investors and potential consumers as people try to prove a use case, and finally, we want to make sure that people have a full transparency of that i think that will bring democrats and republicans together for both law enforcement reasons if that's what their top issue is, or for financial and innovation reasons. >> do you think we need to follow the fumoney? whether they have big offices on k street and don't want this to happen i won't mention any names but there's a lot of industries that probably are loathe to think of a future with decentralized finance. >> that's true but look, blockchain right now is an emerging technology. there are industries all over our country that