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Turnqey Announcement with Morningstar, SEC Conversations and Bitcoin Today on Crypto Office Hours

On this episode of Crypto Office Hours with Tyrone Ross and Jay Coulter they discuss:

  1. The big news about the Morningstar and Turnqey partnership.

  2. Crypto Risk Scores

  3. Recent SEC meetings and what advisors need to be thinking about today

  4. The State of the Crypto Markets

  5. AI and potential advisor compliance hurdles

  6. Tyrone's Final Word



This is crypto office hours with Tyrone Ross on Financial Advisor TV. My name is Jay Coulter. Office hour series are recorded live on all Financial Advisor TV platforms so you, the advisors, can ask questions if you're catching this broadcast live. Tyrone, some big news coming out of your company this week. Tell us, what's going on at Turnkey?


What is not going on at Turnkey? It's a lot going on. But excited that we were finally, after nine months of grind and negotiation and still tinkering on some building, to announce that we have a partnership with Buy All Accounts, which is under the umbrella of Morningstar, to allow financial advisors to aggregate all of that outside crypto data into Buy All Accounts.


So they could be privy to what is held by clients away from them as it pertains to crypto, starting with Gemini, Coinbase, other things to be announced, a lot more to come to that. So we're super excited that that news is out and the response was phenomenal. So we're incredibly excited.


All right, Tyrone. So help the novice to the crypto space and tell me exactly, like I'm in eighth grade, what that means to me as a financial advisor going forward. It simply means it's business as usual as it is right now. So you have a client that has accounts away from you, like a 401k, right? Think of turnkey like the Quovo or Plaid of crypto or a Pantera, if you will, similar to that. So we just allow you in the same way, send a link to a client.


by email to link that Coinbase account. It's all you need to do. And the next time you log back in, that data will be there for you to be able to look at the balance, the position, gain or loss. There's a lot more we could provide, but right, baby food before the rebuy, as I say, right? We will take it in pieces. There's a lot more we can do, but we'll start small. All right, baby food before the rebuy as it relates to seeing these accounts.


How about in terms of giving advice on these accounts? And we're going to get into some conversation about your conversations with the SEC. What does the advisor need to think about as it relates to planning once they have access to those accounts? I think that is a case by case basis. I do think one of the things advisors will be able to do now, we'd like to throw around this term holistic, right? Holistic planning. But there's things that your clients own that you can't see or you don't want to talk about.


So here's what I think it does. It allows the advisor to still have conversations in their circle of competence. You don't have to talk about layer ones, layer twos and blockchains, just Mr. and Mrs. Client, they know you had a $500,000 account at Coinbase. That's good to know. So if advisors wanna bring that into the conversation, whether they wanna bill on it or whatever else, that's their business. It's read only for right now. They can't trade on it. They can't do anything.


So bringing that into the conversation, I think makes sense. And then also what we've seen for one is, you'll see all the trades, you'll see all the fees, right? And then you could kind of help them step away, step away from the fire, right? And cool off a bit. So I do think it's a case by case basis, but I think for advisors that do holistic planning and wanna have a really 360 view into what a client holds and grow relationships, this is a great way to do that.


I would think as a novice to what you're talking about, not just grow relationships, but get into the next generation. You have a wealthy boomer family, they have some millennial children that you want to be familiar with before you lose those clients. This is probably a great way to build that relationship, right? For sure. Great way to build a relationship. And that's what I hope to get across in a webinar and explain to advisors this is


We worked very hard and kudos to the team at Morningstar, anybody that has anything to do with Morningstar, they are phenomenal. Great group over there to build with, to scale with. And we've been very intentional and I think folks will see, because I will be intimately involved throughout the whole process. The goal is to take the cryptocurrencies out, lead data, conversations, advice and education for the advisor and their clients.


And you should be talking about tax planning. You should be talking about investment management. You should be talking about portfolio construction. All the things that are under the umbrella of, again, what we feel comfortable talking about, not crypto. So if there's a layer of that that is to come, stay tuned, we will have resources there for advisors as well. Even in this infant phase, we've worked on FAQs, we worked on all these different things to make the client conversation easier. So I think when this happens,


advisors are going to be over the moon about it because it's just, it's there. Right. As I always say, I say to investors, I say it to customers, I say it to partners. I say it every time I get a chance to talk about this, what advisors don't want. I don't want to pay a $2 million, $2 million for this condo and go across the street to use the bathroom. Right. I want everything right here. Right. So if I'm paying these platforms, all this money, if I'm doing everything through this platform, pick a platform, I want it all here.


And I want to be able to manipulate the data, analyze the data, give advice from here. So I think reaching scale, right over 85% of the RAA market, initially with this integration with buy all is huge. And then some of the things that we're going to layer on top of it, I think it's going to be really sweet folks should be excited about this. Yeah, Tyrone, I kind of chuckled when I read the news, I've done a lot of work with Morningstar over the years with our with our media business. And I thought, man, the best part about this whole thing for you.


is nobody's gonna say, who's that? Right. So advisors have a high degree of familiarity with Morningstar, whereas most of the crypto space, I mean, even Coinbase, you know, clients aren't gonna know what, most people with money aren't gonna know who that is. Everybody knows Morningstar. So congratulations on your news. Anything else we should be looking out for as it relates to the rollout of this?


Um, yes, a series of things. So the next step is the webinar, which is on the 26th. I encourage everyone to sign up. Um, let's make a link. Let's put the link somewhere. Add that. So folks can see, but it's on social media. So the webinars on the 26th. Um, there are some conversations that are happening behind the scenes that I can't really give much information to, but I do want to shout out to Eric Clark without Eric Clark. Um, for those who don't know that is the CEO to Ryan. This would not be possible, but


There will be some testing behind the scenes and then there'll be dates later on or when it'll go live to everyone. So that's the next step. And then we have some bigger things planned as far as how we'll expand where we're able to go and get data from. So there's a lot of layers here to be rolled out and I think folks will get more info there. But I think what we have planned and what my master plan is, I think advisors are gonna be really, really happy.


that this is now coming in a package that looks familiar, right? You don't even have to walk out to the mailbox, we're gonna Amazon prime it to you, walk it right to your door, take the picture, walk away. You just reach, you know, go in and all your groceries are there. So more to come. I encourage everyone to sign up for the webinars. A lot of good news there. Excellent. Let's pivot to the crypto risk scores that you guys put out at 401 Financial. And let's start at a high level for people new to it. What are the risk scores and what do advisors need to know about?


So here's what I will say, they're not out yet. We are having some conversations with some big players behind the scenes of making them public. One of the things that I needed to do and I wanted to do is again, I've been at this for eight years and I've just been very frustrated with the core infrastructure tools and analysis and data that advisors need just wasn't being built and provided in a way that advisors needed it. So thinking of our risk scores as simply as


the nitrogen of crypto, if you will, risk-alized formerly, but nitrogen now, right? So basically what we did is we took the top 300 crypto assets and we scored them based on a whole lot of different metrics, which everyone will find out soon, but we scored them one to 300. And then what we also did from that is went and built fundamentals. Yes, fundamentals on how do we actually value these things? What does that look like? So-


Just again, we scored them, gave them a score based on just all crypto, not in relation to anything traditional, just all crypto scores. Obviously, without saying Bitcoin scores the highest for obvious reasons. So I think folks can guess a lot of what went into that. The reason we built them was for this and having conversations with some massive REs. I'm talking folks that are a hundred billion or more. They kept...


coming back to the same thing. There's no way to quantify risk. So how do we build portfolios, right? How do we get this data into our workflows to be able to get a score individually versus a score that we have for traditional assets and get this composite score to be able to get a really good look at what a portfolio may look like and how much risk a client is taking. So that's essentially what we did.


It's done. Shout out to Eric Smith, the CIO for when he did an incredible job on this. We're having some really substantive conversations here to package it up and make it available to everyone will be teasing some things here and there, which have made its way to social and we're starting to share a bit because we're just sitting on so much data and information. So that's essentially what went into the risk scoring methodology. Yeah, so


So that's a miss on my part. I thought I had seen some risk scores in the marketplace from your partner, Eric, but those are really just teases of what's to come? Yeah, teases of what's to come. What we did do is show, so we have our own model that we've built, and what we showed was the scores that made it into our model, right? So in order to make it into the 401 crypto model, you have to hit a certain number on the fundamentals and a certain number on the risk. If you do, then you get included into our model. So that's what you saw.


Excellent. Let's pivot to the SEC. Really important when you deal in this space that you have a clear view into what they are expecting. You have some meetings coming up, you've been meeting with them for a while. What do advisors need to know about the SEC? This is probably the most important part of this conversation. So right before we came on here, I was emailing them to confirm the meeting that I'm having. So again, blessed to have


multiple conversations with the SEC. The next conversations that I'm having is with the investment management division on the new custody rule and a safeguarding rule. So a couple of things that I think is important for advisors in general and is that crypto is concerned. And I sent them a list of the things that I wanna cover. I'm more concerned about what a qualified custodian is for the purposes of crypto.


But just in general, we could get back to that. Just in general, they are very much wanting feedback from RIAs and investment advisors on how the rule impacts advisors giving advice to retail clients. And they're the ones who get hurt here the most, right? The SEC is here for investor protections. So one of the things that I mentioned to them,


And again, my conversations have been very nuanced. There's a crypto angle and it's just a, hey, I'm an advisor angle. But on a, hey, I'm just an advisor angle, it's the record keeping, if folks haven't looked at this, they are demanding more stringent record keeping as if our record keeping wasn't stringent enough. They want more detailed record keeping. The cost based on if this is implemented,


The timeframe to getting compliance is going to crush smaller advisors. And then if they're broadening the scope that everything falls under the scope of needing to be at a qualified custodian, they're basically saying discretion is explicitly their words, custody. So these are all things that advisors need to be concerned about. So my meeting with them is about, is around that and also around the custody rule.


retaining the qualified custodians for crypto, which if I'm to interpret what I'm being told, they don't believe that there's a qualified custodian in the space right now. That's a big deal if you are crypto hippie like myself or you are trying to bring crypto there. A little bit of inside baseball here. I'm also having conversations with them because I am having conversations with two incredibly smart gentlemen now that I cannot name. On building.


a qualified custodian, a true qualified custodian that only does custody for the space. So we didn't want to start building or doing anything until we had conversations with the SEC. So I'm having some bifurcated convos now, but the next conversation is all about the proposed rule, some of my concerns with it, the broader space's concerns with it, and what that will mean not only for crypto, but advisors in general.


You know what we had to do Tyrone is find a crypto lawyer who specializes in the space and bring them on as a guest or her on as a guest for series. I think we could get really deep on that. Yeah, for sure. Yeah, excellent. So if you're watching on LinkedIn, YouTube or Facebook and you have a question, please post it as a comment. It'll show up here. I believe our Twitter feed has been killed because the bots got in there because of, I'm assuming because we're talking about crypto. All right.


Let's pivot and talk about the state of the crypto markets Tyrone. And if you would not mind, could you frame it for the novices again, for the people who are new to crypto? They understand they don't understand what Bitcoin is. They think they know what Bitcoin is. Their clients are asking them about ETH. What's the state of the markets today? So yes, very, very high level. And I've been forced to do this for eight years. So I have some practice.


Couple things, one, no one cares. Let's just be honest. If you care about crypto right now, you are punch drunk, over the moon, not going away, taking all the career risks, I'm never leaving Titan, like myself. So the junkies are here, we're not leaving. The broader sentiment in the world is it's dead, right? We should go through this cycle, it's dead, it's dead, it's dead, right? There's someone I think that's actually tracking this on Twitter.


But the sentiment right now is sour. What's interesting is there are massive TradFi entities and platforms that realize it is not going away. I think that's what everyone needs to realize. It's not going away. It's here to stay. But in what form? And I have a lot of thoughts around this now. Maybe I'll save that for my rant at the end. But I think this is like.


We need to start having some honest conversations here that I don't think is being had on Twitter and other places around crypto, but I'll get to that. So for those that are watching this and just trying to get a good feel for it, right? Bitcoin, which is the most notable, has the biggest brand, everyone knows about it, right? Has now gotten to a place where folks have saying, okay, well, what is the revolution? What has it done?


I'm not going to go off on that tangent. I could easily rebut that. But again, staying with the 330 million people that walk around in this country, it had like that buzz that went up in 17 and it was kind of like, oh, Bitcoin was the thing. And I was hearing it on podcasts and you heard athletes taking their salaries and Bitcoin, it was the thing. Now it's going away. That high level, oh my gosh, you walk into the barbershop or whatever, no one's talking about it anymore.


retail has been scorched again. There's regulation out there. So Bitcoin being the one that everyone talks about, it's not much there, right? And in as far, even as far as the on-chain, right? Let's just call that for the newbies, if folks are learning the metrics and the data behind what is happening on-chain now is the lowest it's been. So just think of that as the amount of backing forth.


right, or value being sent person to person has calmed down a lot. So with that, I think we're left here where you're starting to see good news as far as clarity, right? FASB has come out, the accounting rules now as far as companies that hold it on their balance sheet, that's huge news, but again, it's not going to move the markets because it's not flashy.


It's not Bitcoin going to crack a new high and go into 70,000, 80,000. The price, the volatility, everything has kind of been muted. So I think what you're seeing right now are the seeds of, Hey, if this doesn't go to zero and it catches a bid and we are going to go higher, the core infrastructure is being built furiously, right? I was just talking to Eric about this.


behind the scenes, there's a lot of things happening, which is really exciting, but you've got to be in the space 24 seven 365 to appreciate it. If you are a passerby, there's really nothing for you to hold on to, right? This visa news was interesting, but again, the average person doesn't care about that. So I will continue to say where we are right now, crypto is still missing its iPhone moment. What is the thing?


that is going to make my mother again come back to me and say, oh my gosh, this is what you've been talking about and making my eyes glaze over for the last eight years, right? Now it makes sense to me. And I think that's where a lot of the builders, the entrepreneurs and visionaries are. What is the next thing that takes it to the next 50 million people? Right? I think at the apex now are 50 million people that have kind of done something with it. How do we get the next 50 million?


of people to kind of get in here and move some value around or, or men in NFT or whatever the case may be, which to put the ribbon on it for this. One of the things that you have seen is global brands, right? And we can, we can go by name, start to get involved here in a way, again, nothing flashy, but just setting the foundation of what may come when the education


the utility and the technical part of it is removed and folks are just able to do whatever it is they need to do, but it's powered by blockchain in the background and they had no idea. So I think as far as the investment part of it, as far as the I'm going to put $5,000 in and it's going to make me rich, all that hype has died down, it's gone. If you are here, you're here for life.


All of the casual folks are gone. All that is left of the people that are sitting at the kid table now, right, at the barbecue, as I said, right? And the adult table is still trad fine moving and chugging along. Crypto is going to have to find a way here to make sense, to be credible, which is a whole other layer of this. We've complete. It's like Lord of the Flies. We've done everything that crypto has done. It's a self-inflicted wound to this point. And that's just.


the honest truth, it's self-inflicted wounds. So I think if it's going to become something that is credible, something that is valuable or something that is going to change the world that I think myself and others still believe, we gotta clean up our own house. And I think that's what's happening now because valuation to depress the companies that are building, again, passerbys are gone, TradFi is kinda licking their chops saying, all right, let this bubble pop, let these valuations come in.


Let's absorb some of this talent. Let's absorb some of this technology and kind of make it our own. And kudos to Visa who was realizing that and you know, keeping with pushing forward in the space. But I have a lot to say on this, but I think that's essentially where we are right now. You know, I've got a decade plus on you and I'm being generous to myself there. It does remind me though of the internet bubble. So in the buildup to the internet bubble, there was a ton of excitement. Some of the smartest people were leaving


big high profile jobs to join the internet startups, then it fell apart. And then as out of the ashes came what we're experiencing today, and then internet 2.0, etc. It using that silly analogy, where do you think we are right now? Are we in the rebuild stage? Or are we still dealing with the ashes? We're dealing with the ashes and out and it's perfect. I'm glad you said that perfect segue. Look at you, you should you should start a show or something. You're good at this. I was watching a lecture.


that Steve Jobs gave at MIT. I think it was in 1991. And everyone likes to find these pithy quotes that Steve Jobs said. But I like to dig into how he pieced all of these different things together, which ultimately became us being in love with what Apple is today. And one of the things that he said was, you get these five-year segments, but you don't get them.


In order for those five year segments to come together, which I'll get into, is you got to have all these different pieces of technology come together in the first five. So with crypto, you got cryptography, you got distributed ledger technology, you got all these different things. The internet.


And then the next five is figuring out what are we doing with this? Like, how does it work? Right. And you put those technologies together and folks are just really, what could this become? And he was talking about DOS and he was talking about Mac and all these other things. So we're in that second phase of that five where it's just like, what is this going to become?


And then he said, there's this, the last five, which were not there yet, where now you put it all together. And if you look at, I encourage everyone, I can't think of the name of the book right now, but it's all about how the iPhone came together. Right. And again, back to that iPhone moment, but in that last five are all the possibilities you're seeing that with AI now, right. Where now it's just like, Oh, okay. All like it's in that. So basically that the next five years for AI is going to be fascinating.


first with that, but lagging behind. So I think we're at the middle of that second five, where it's like we have all these different blockchains, DeFi didn't exist a few years ago, you got NFTs now, you got Ordinals, you got all these other things, pardon the cryptocurrencies, but that's my point. There's still a lot of things here that if I said them, you'd be like, huh? Right? But once those things are figured out,


the next five of innovation will be, all right, now we can take this, insert that in Jay's life and it's magical. And that's the part that he was talking about in the classes. We're going to create magic with this technology right now. It's just like, I wish he was like, I wish DOS would go away, right? It's like, it's just right. And it's funny to look at that, but it's like, we kind of got the same thing in crypto is like, you just wish this would go away, but it's serving a necessary evil now, because all right, this is crap.


get it out, this was useful, take this piece, add it to this, put this here, right? And now we'll figure it out. Stable coins, I think, are going through that as well. So I think right now, yes, it's smoldering ashes. And then now the builders are forced to go, I have no way forward, but to build something that people are gonna use right now. The high valuations, the money that have been poured into the space. And again,


Same thing happened with the internet, any space. You throw money at it and then we'll see what happens. But there's been billions and billions of dollars poured into crypto for very little adoption right now. But I think as he was saying, he mentioned at that time, and again, you go back to 91, he said it was $100 million that he had spent trying to get Apple where it needed to be to start getting the Mac and everything where it was. And everyone was like, my God, right? So.


That was 91 though at that time was like, yeah. But now that same thing, he's like, look, a lot of that money has to go in to tinkering and that experimentation of that second five year period to manifest what's gonna happen in that last five. So I think that's where we are. It's just, there's a lot of building now, there's a lot of ideation, founders are forced to talk to other founders, can you, product market fit?


adjacent markets and I think that's what's happening because if not, we just won't come out of it.


I didn't have this on our question set. AI obviously is getting all the buzz. Our industry, they're running towards it as fast as they can. I have some real concerns and more concerns than I do about crypto, especially established crypto because of easy to determine privacy firewalls that you can have with the crypto space where AI is literally built on taking the information you give them. So if you're giving them client information,


the security risk you might have, the compliance risk of what they do with that information. Like, I mean, I'm not smart enough to understand it. But I have a feeling the SEC is going to want us to know what they're doing with our clients information. Have you had conversations around that? So we're, we are all in on AI for one. And I think that's what advisors like it's so funny how advisors think it's like the minute is new technology is like, oh, what are the client like you realize you can use the technology and not even involve your clients and how about you provide


a better experience with the technology for the client. So that's what we're doing with AI now is how do we provide a better experience for the client? No client data is going into it, but we're using AI to provide a better client experience. And what we're working on and what we've seen is, whoo, whoo, lights out, right? Individual chat bot for a client based on, you know, what they ask or whatever, it's nuts what is out there. So I think advisors need to shift the lens a little bit is,


How does it help us become more efficient, create a better client experience? As far as the client data going in it though, to provide all this analysis stuff, I'm with you. You gotta take a pause on that. I don't think anybody should be going there yet. What is interesting though, and again, what we've had conversations with our legal about and what we've been, Eric and I have had some conversations and Amber and Eric are chat GBT'd out. Like they use all of that for a lot of the things that we do is.


What I think is great here, right? What is the one thing planning is based on? Scenarios, right? So what you're able to do, right? Scenario-based, create scenarios inside of a planning tool using AI. So if you come across a situation with that client, you've run some scenarios to be able to come up with these different. So now you don't have to put that client's personal information in, but you've ran all these different scenarios.


with that particular type of client, which lends to the client conversation. That's what I think advisors should be doing now, because here's the thing with AI. The people that are going to figure it out and use it are going to smoke the people who don't. It is going to make them more productive. They're going to give better answers. They're going to provide better experiences. They're going to be able to, to, um, to scale faster and bigger. And to this point, I was just having a conversation with


a gentleman from the colony group, right? So we're having some conversations for one about this reverse referral program that we're thinking of scaling. And the first thing that he said was, you know what? This is such a brilliant idea because our industry is so resource constrained. It's a fact, the biggest fact, it's resources. That is what our whole industry is built on. And how do you get those resources to be able to use them enough to be able to scale? And when you do this, you just realize, all right, we're tapped out.


There's just not enough to go around or capture the opportunity. So I think advisors leveraging AI in that way are going to win. But to your point, we've been advised by our legal or whatever else, don't put anything personal in there at all right now. So yes, I agree with you. But on the flip side of that, I think change the lens, use it to be more efficient and productive. And I think we're really going to see our industry change. Excellent. I kind of set that question up for that response.


Definitely not anti AI. In fact, this interview will go into an AI tool that will find best in class clips that we'll be able to use for marketing. You can use it for, advisors can use it for so many things as it relates to marketing. They can use it for so many things as it relates to financial planning. For example, you can take all the CFP boards content, put it into a tool and then have those resources available to you in a chat bot, which would be significantly better than Google. But I just keep running across situations where advisors are...


using it with client information. And I think it's gonna be a big, big problem for them. You're gonna get sued into the stone age. Let it go. Yep. Tyrone, we're at the 30 minute mark. Let's wrap up with Tyrone's final word.


All right, here we are, the final word. I am, if you can't tell, dealing with the heat and humidity on the East Coast, cannot wait to get back to Southern California where humidity does not exist. Here's the final word, and I think this is for all of the, I'm talking to my family now, the crypto hippies, the folks who are not leaving, as I alluded to earlier. Gather around my campfire here.


We need to have a come to Jesus meeting and I'm here to deliver.


If we are going to manifest, if you will, what we desire to see in this space as advisors in wealth management and beyond, and crypto is to be a part of that, I think we need to have an honest look in the mirror about where we are. And I was thinking about this in a conversation with someone, and I'll give you the real story really quickly. So they...


are working with someone who was building a tool. It's like a Shopify with a crypto component of it. Think about it that way. And one of the things, this conversation came up about a wallet. And it was like, well, what they wanna do is they don't want wallet to be familiar with the wallet that they have in their pocket. They want wallet to be, you know, signifying that it's crypto and so on and so forth. And they wanna remove that complexity.


And I'm like, well, I think it should be the other way. I think we want folks to feel that a wallet is just like a wallet in their pocket. They shouldn't think wallet and think crypto and blockchains and connectivity and private key and public key. No, no, no, no. We want them to think of a wallet as a wallet. Because if I go in my phone right now, Apple provided a wallet.


But that wallet, I could put my airplane ticket in, I could put the driver's license, I could put all these different things. And yeah, I may have a wallet for stock. I may have a wallet for crypto. I may have a wallet for an NFT or stable coins. It's just a wallet. And I think that's where we are, which led me to this. And I said this as a fellow founder, I said, here's the problem with crypto. And it took me a while to realize this. What crypto folks want to share in


is the gains and their bags going higher. Everyone wants to share anything and look no further than the leaders that have been running the space and the greed that has taken place. Everybody wants to share knowledge so long as it pumps the bags. What they don't wanna share is the knowledge that complexity won't be removed because of hubris.


Because if you don't know the difference between web three and web two, if you don't know the difference between a layer one and a layer two and a bridge chain and so on and so forth, that makes me look smart. That makes me raise more money. That helps me get this that you can't get. That has to go away. So until as a space, we want everyone to be on the same footing with knowledge and understanding. We will stay at a trillion and total market cap, which is a pimple on an elephant's butt.


It won't matter. It'll just be the kids table. But everyone wants to share knowledge and backdoor things or whatever, if it means everyone's bags go higher. That is why we are where we are until we want to share the knowledge and make it easier for people to understand what it is that we all are excited about. Which is why I say, for 14 years now,


Eight years for me since I've been introduced to Bitcoin, I've heard all of these things, the global monetary, da da da da da da da da, it's gonna replace the dollar, and self-sovereign, all these other things. I'm like, why not just say it helps people get access to financial services that have never had it before? That's what it did. Convince me that FedNow, that was first introduced in 2019,


was not introduced because of Bitcoin being introduced to the world in 2008. Convince me of that. You can't because at all that was being purported and said and proselytized was, I can send money to anybody in the world right now, regardless of value, regardless of where they are, color, creed, denomination, size, I could do it right now. They'll get it 10 minutes.


That's a real thing that happened because it was, hey, this is just a simple use case of how this works. But once we realized that people were listening, then it became mining. It became proof of work and proof of stake and the difficulty adjustment and all these other things. If I buy Amazon, I don't care about TCIP. I don't care about logistics. I don't care about any of that.


I order something that comes to my door in 30 minutes. So until we can say, this is what crypto is, and we don't have to go, well, the miners do this, and there are these nodes, and then there's these people, there's an ecosystem, and then every 10 minutes, and then the, I don't care. You said that if you send me something, I'll get it in 10 minutes, show me that. Keep all that other stuff. So I'll just wrap up here by saying, you can't have it one way and not the other. If we want people to come in and stay.


We need to share what we know equally, equitable, if you will, right? The equality and equity is very important of knowledge here and understanding. And until we get to that, this is where we're gonna be. It's gonna be a sideshow. It will continue to be a joke. But as a space, we need to anoint leaders that are going to be smart, that have integrity, that are going to be principled with education in all levels, meeting people where they are. And the promise...


of what we all believe in here will manifest, not a second before that. But that's all I got. See you guys on the next one. Tyrone, I learned every time you come on to do one of these shows, as you always say, viewers educate before you allocate. Next week on Office Hours, we will have Marketing Office Hours with Matt Halloran featuring Angel Gonzalez from Snappy Kraken. Tyrone, we'll see you next time. Absolutely, thank you so much for the time.


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