this is led by greylock. this is the crypto conference in the bahamas. the mood and seen in the bahamas and the crypto community? correct there is a lot of innovation happening. what has been interesting is seeing the confluence of crypto entrepreneurs, traditional finance. >> how do you see this company challenging incumbent as big as coinbase? these are the decentralized exchanges. that is the most trusted protocol for the tokenized value. >> at the same time, it is essential to the emergence of this ecosystem. >> big exchanges are struggling with this. how do they think about the emerging regulation ahead? >> i can't speak to all of them. my personal opinion is that we are going to get to a point where these rails that support innovation and more liquid 24 hour a day exchanges for lower costs and more accessibility, they will be combined with appropriate consumer contact -- is, protections and what i love to see is the u.s. federal government take a stance as we have historically. take a leadership stance around financial innovation. this is something

sarah: you have been a goldman sachs before greylock, you know how this works.ll happen in terms of the convergence of traditional finance and defi? there has to be some space where the two combine. sarah: yeah, i think this will be a massive boon to the ecosystem as more traditional finance players move into the crypto ecosystem. the greatest promise of crypto is accessible, trustless markets that are more efficient. the big institutional players, be they hedge funds or thanks or market makers -- banks or market makers, they provide efficiency and liquidity in markets. i think a lot of traditional finance organizations have been waiting for increasing regulatory clarity, but i'm really encouraged that you see firms like goldman sachs or citadel say explicitly we are making moves into crypto and feel more comfortable about the risks. i think that will make the entire ecosystem more liquid and mature. sarah: you are in the bahamas. about 2000 people are there. what is your biggest take away? sarah: we are at a point of maturity in the ecosystem where the most imp