The President’s Working Group on Digital Asset Markets’ report cited a finding from the market mapping exercise @JBSDC and I conducted: 1 in 10 crypto users held crypto before opening a bank or payments app account. That’s a powerful signal about where access is starting and what the future of our financial system can look like. Grateful to @davidsacks47 and @BoHines47 for featuring our work in this important report!

🔥 testimony from @danrobinson “What crypto provides is an alternative system, one that gives us the efficiency of globally coordinated markets without sacrificing the competitive benefits of peer-to-peer trading.” “The United States can maintain its dominant position as markets shift into this new form. Not by trying to force this technology into the existing paradigm, but by doing what the United States has always done—outpacing the rest of the world on innovation and entrepreneurship.”

“Who is the crypto user?” This was the question we have been grappling with recently, culminating in our release today of the first major market mapping survey of crypto users. Spoiler: crypto owners are more diverse in their views, interests, & beliefs than even I expected. 🧵

1/ When we led Privy’s Series A in 2023, one thing came up again and again: customers didn’t just love the product – they loved Henri, Asta, Max, and team. Huge congrats to them today as they announce Stripe will acquire Privy. Hard to imagine a more deserving team.