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00:00Obviously big jump for bitcoin today. Not you know these theseroller coaster rides not unusual necessarily but what do you think is driving this particular what we're calling a shockrally in particular. Thanks for having me here Emily.The shock rally as you call it. I think people first of all like you said hard to get used to some of this volatility. And it isthe statements that were made where they don't plan on banning crypto but possibly just regulating certain parts. And that gavepeople more certainty that sensible regulation will happen at least in the US. So that is the hope. And that's why a lot ofthese coins actually had a very good day. So if China is banning crypto and the U.S. says it's going to regulate it but not banit what are the ripple effects of that. So what China is doing is actually in line with the trend ofwhat they've been doing for seven eight years in the cryptocurrency world. This is a little more harsh than normal.And also it's in line with what they're doing with technology. They are coming in and becoming more heavy handed in theirregulation. Luckily from where I see sit as an operator in the space what I see is that it's actually aincredible boon for decentralized finance and distributed and governance and decentralized applications. If you look at what'shappened since the announcements the decentralized finance and applications in the space have actually increased in volume andusage sometimes 3 4 times in just the last couple of weeks. So it is classic. They come in and they tried to ban it. And userswho have such passion they look for refuge elsewhere and they find a way. And the whole ethos of crypto again is selfgovernance. And they find a way to find the decentralized exchanges as well as the different applications to expressthemselves. You're avalanches now available on Coinbase. As of yesterday how big a step forward is this and what do we need toknow. Thank you for recognizing that it is a big step forward and Ithink what it is it's a vote of confidence for the man from U.S. individuals for a fast and speedy and low costs block chainwhere they can actually try some of these defy and FTSE and other social tokens in a way that is also what's exciting aboutit for them is that it's also Ethiopian compatible avalanche that is. So therefore now they can go back and forth andexperience different eco systems and see which feature features that they prefer. And that's why we are so excited about it. Andthat's why the users and hopefully the 68 million users at Coinbase as well as the incremental US demand out of. We'll see.We'll have it. A very incredible experience. What do you think the role of avalanche or what do you hope the role of avalanchewill be in both institutional and decentralized financed. Avalanche. And I've allowed the company that the software kindof behind the avalanche was started obviously to help create a decentralized permission list world. However the ultimate goalfor the labs is to enable traditional financial services companies and traditional enterprises to token ISE their assets.It's not just about the two hundred billion dollars in the five ecosystem. It's going to be about the seven hundred trilliondollars of assets that sit on financial services balance sheets. That's our vision. And the last four avalanche. That's why weare so excited. And that's why I see a lot of developers continuing to migrate to avalanche and trying to tap intobasically a great market and provide access to people across the world for financial products that they don't actually haveaccess to. Now. There are some traffic congestion issues that are impacting the broader eco system long wait times for atheory and users. For example how does your traction on the block chain compare with a theory MS or polka dots.So avalanche is if they're compatible and it is a way to basically be complementary to each theorem when there is a lotof activity in the a.m. avalanche can easily provide the same ecosystem as sometimes native applications and defy and thenFTSE but giving them speeds and finality instant finality and speeds that are probably like one hundred times faster. And mostimportantly Emily the cost. The cost is pennies versus sometimes 10 20 30 hundreds of dollars for one simple transaction.What if the entire ecosystem of stable coins gets regulated though is that a concern.Great question. In the short term it is but in my opinion if you have clear definition and people understand what is backingthese stable coins and there there's transparency I cannot see how that won't create even more adoption. Obviously stable coinsnow is one of the largest components and it's done. I can tell you from talking to people partners in the space and as anoperator. People use this. They feel sometimes hesitant because they too don't realize what is underneath the collateral thatactually supports these stable clients. So they gravitate to a few that they are comfortable. If there is proper regulation andtransparency into what is collateral this space will grow even faster.

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Ava Labs: Stablecoin Regulation Will Create More Crypto Adoption

Ava Labs President John Wu joins Emily Chang to discuss the ripple effects from China's ban on crypto, the challenges with scaling Ethereum compatible protocols and pending stable coin regulation. (Source: Bloomberg)

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