FTX is obviously the story that's in the headlines right now. Do you think the Fed bears any responsibility for what is happening here? You think globally central banks have any responsibility for what is happening here? They pumped an awful lot of liquidity into the system. It was always going to blow up into bubbles. Those bubbles are going to produce maybe some bad behavior. Is that where this started or do you think it would have started regardless? I think there's always been an appetite for speculation in the world. And I don't think you can fairly lay that at the doorstep of the Fed or other central banks. I think in the world of crypto, you really have to separate two themes there. One is classic crypto currency, the most famous of which obviously is Bitcoin. To me, you're taking on two things there. Number one, which I do actually strongly believe is a positive, which is the implementation of block chain technology, which will make the transfer of money faster, more transparent and more secure. So stable points, I think, are going to be a really important element of our global economy. Five, 10, 15, 20 years from now. Crypto, I feel differently about to me. Think about it. If you put your money in a bank, put a dollar in a bank, you expect to take a dollar out of a bank. If you put your money, a dollar in a money fund, you expect to take a dollar out. If you put your dollar in a stable coin, you expect to be able to take a dollar out. If you put a dollar in bitcoin when it was sixty thousand dollars a coin. Now you're going to get less than a third of that. That's speculation, not movement of currency, not by paying for goods and services. To me, bitcoin is no different from Beanie Babies. They're more people who want to own it. So it goes up more. People want don't want to own it. It goes down the path that really importantly needs regulation is the whole stable coin market because clients, you know, mom and pop and bigger institutions are being told, if you put a dollar in here, we're going to hold assets so that you can take your dollar out. We had regulation of banks, so that could happen during the financial crisis. We put in much more intense regulation of money funds. So that could happen. The same needs to happen with stable points.