WEBVTT - What’s To Become of Miami’s “Crypto Hub” Status?

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<v Speaker 1>This is Bloomberg Crypto, a daily Bloomberg I Hood podcast,

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<v Speaker 1>and I'm Stacy Marie Ishmael, Managing editor of Crypto for

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<v Speaker 1>Bloomberg News. It's Wednesday, January four Emladonna hierarch In Today

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<v Speaker 1>for Stacy Marie Ishmael. Miami has always been famous for

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<v Speaker 1>its beaches, it's beautiful people, and glamorous nightlife. But more recently,

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<v Speaker 1>the city's caught attention and a lot of heat for

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<v Speaker 1>trying to establish itself as a crypto hub, the center

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<v Speaker 1>of the digital assets movement. Miami has witnessed an influx

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<v Speaker 1>of crypto startups as entrepreneurs flocked to the city, attracted

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<v Speaker 1>by its charismatic, crypto friendly mayor Francis Suarez and the

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<v Speaker 1>promise of lower taxes. The signs are everywhere. There's crypto

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<v Speaker 1>specific happy hours, major conferences, a retail space dedicated to Salona,

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<v Speaker 1>and even a token just for the city and its residents,

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<v Speaker 1>Miami Coin. And then, of course there's fts. The now

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<v Speaker 1>bankrupt Crypto Exchange had the naming rights to the basketball

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<v Speaker 1>arena for the Miami Heat, and just about a month

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<v Speaker 1>before its stunning collapse, the exchange had plans to move

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<v Speaker 1>one of its top branches to the heart of the

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<v Speaker 1>city's financial center, a move that was supported by the

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<v Speaker 1>mayor himself. In the aftermath of the FTX collapse and

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<v Speaker 1>the overall negative sentiment and crypto markets, the city has

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<v Speaker 1>paced tough questions about its part in the digital asset

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<v Speaker 1>industry's future. My colleague Carlijuana was recently down in Miami

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<v Speaker 1>and she joins us now to tell us about everything

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<v Speaker 1>she saw and hurt. It's an appealing place to live.

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<v Speaker 1>The weather is awesome, the beach is right there, and

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<v Speaker 1>as they get more infrastructure and they get more banks

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<v Speaker 1>and financial institutions, it's really going to grow and has

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<v Speaker 1>a pretty solid selling point for other bis. This is

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<v Speaker 1>to come down there. Carlie welcomes to the show. Hi,

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<v Speaker 1>thank you for having me. Well, maybe just to start,

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<v Speaker 1>you can tell us about how Miami became a crypto

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<v Speaker 1>hot bit of crypto hotspot. I would say a lot

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<v Speaker 1>of that traces back to the guy that you mentioned already,

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<v Speaker 1>that is Mayor Francis Suarez. He's been mayor now for

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<v Speaker 1>several years and he's pushed for a number of companies

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<v Speaker 1>to move down to Miami. Right, So it's not just crypto,

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<v Speaker 1>it's also hedge funds, vcs, tech companies, And he's really

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<v Speaker 1>touted Miami as like almost in New York, and like

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<v Speaker 1>you see it when you're there, some of the restaurants

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<v Speaker 1>are even the same. The downtown even kind of fuels

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<v Speaker 1>a little bit similar. Is that like New York buzz

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<v Speaker 1>I mean, I'm in Midtown right now. So he's pushed

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<v Speaker 1>for a lot of these companies to move down there,

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<v Speaker 1>and a lot of the push has been specifically through Crypto,

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<v Speaker 1>and obviously that has stayed despite all that crypto has

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<v Speaker 1>been through recently. Yeah, and obviously Crypto has been through

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<v Speaker 1>a lot, which is why you went down to Miami

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<v Speaker 1>to check out everything that was going on. So maybe

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<v Speaker 1>tell us about the general attitude of people when you

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<v Speaker 1>were talking to them, Like did you go to some

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<v Speaker 1>crypto bars maybe, and what were people telling you about

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<v Speaker 1>how they're feeling about everything that's been going on? Right,

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<v Speaker 1>So I went down there post FDx collapse in bankruptcy,

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<v Speaker 1>and the basic question that we wanted to ask was

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<v Speaker 1>this city that has made itself into a crypto capital,

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<v Speaker 1>has that change and will that change? And so when

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<v Speaker 1>about that kind of centering the trip on these two

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<v Speaker 1>conferences that I mean literally a ten minute walk away

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<v Speaker 1>from one another. There was one called to Central and

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<v Speaker 1>there was one called Web three and crypto conferences are

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<v Speaker 1>their wild crazy like there was a sports car it

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<v Speaker 1>was electric blue, parked outside of one of the conferences.

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<v Speaker 1>The other conference was a little bit more buttoned up,

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<v Speaker 1>but still a lot of people, a lot of elders,

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<v Speaker 1>people who had started their own companies, hopeful as about

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<v Speaker 1>n f T projects and Web three designs. So that

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<v Speaker 1>was the basics, right, so much a lot of fog machines.

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<v Speaker 1>Fog machines. The weirdest booth was there was one where

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<v Speaker 1>there was a man just for no reason at all,

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<v Speaker 1>dressed up like Donald Trump, and I have no idea

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<v Speaker 1>what that had to do with their booth except for

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<v Speaker 1>I think to like pull people right. So it was

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<v Speaker 1>a crazy scene overall. Went to some after party events

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<v Speaker 1>the week I was there, it was also Art Basil,

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<v Speaker 1>so went to some specific Art Basil parties, which has

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<v Speaker 1>I'm sure we'll get into it, but also its own

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<v Speaker 1>kind of crypto bent to it. So it was the

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<v Speaker 1>perfect way to ask the question of how is the

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<v Speaker 1>crypto community feeling post FTX. The way I would answer

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<v Speaker 1>that is honestly pretty good. Not the same though. It

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<v Speaker 1>was different and I wasn't down there for this exact

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<v Speaker 1>same week last year. But people said, you know, the

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<v Speaker 1>conferences were maybe half as many people as they were before.

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<v Speaker 1>Art Basil market sentiment in general is very different than

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<v Speaker 1>it was last year. But they said that the hype,

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<v Speaker 1>the fervor, it wasn't quite there. That's not to say though,

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<v Speaker 1>that people aren't enthusiastic. A lot of people said that

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<v Speaker 1>in some ways, the Bearer market to them just symbolizes

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<v Speaker 1>that the crypto taurus are out and what's left is

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<v Speaker 1>the real crypto believers, and those are the people that

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<v Speaker 1>I guess I met with the most in Miami. It

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<v Speaker 1>was the people who are sticking around and Bear or

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<v Speaker 1>ball markets. This is so interesting to me because I've

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<v Speaker 1>been to so many crypto conferences in my lifetime, and

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<v Speaker 1>so I know the feeling of the techno music starting

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<v Speaker 1>at like seven am and the fog machines adding this

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<v Speaker 1>crypto vibe to the whole conference. But that's so interesting

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<v Speaker 1>to me that people are still very hopeful, so hopeful,

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<v Speaker 1>so happy. I mean, it doesn't hold across the board.

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<v Speaker 1>People are obviously realistic. They're they're down about the fact

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<v Speaker 1>that prices are down, but they're they're partying on I

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<v Speaker 1>will say, and I think you had some very interesting

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<v Speaker 1>conversations with some people down there, right. Yeah. So while

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<v Speaker 1>I was in Miami, I spoke with a lot of

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<v Speaker 1>startup founders. I started people with. I spoke with people

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<v Speaker 1>who work and live in the space. One guy who

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<v Speaker 1>I spoke with, his name is who some abood with

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<v Speaker 1>dot name. It's a blockchain naming service aggregator. It aligns

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<v Speaker 1>a user's name in their actual money address and his

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<v Speaker 1>wall address and all of his other naming services. It's

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<v Speaker 1>essentially like the first n f t um. And he

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<v Speaker 1>told me why he's not giving up on Miami. Mimi

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<v Speaker 1>is doing great job. It's not just becoming it is

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<v Speaker 1>actually it is a hub for for technology and not

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<v Speaker 1>just script I would say, And because of all the

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<v Speaker 1>like reasons. It's an extremely fun place. And of the day,

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<v Speaker 1>you want to be in a place where in all

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<v Speaker 1>you wake up morning and it's the lovely weathers and

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<v Speaker 1>then you go, you know, you go to for a run,

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<v Speaker 1>or you go to swim a little bit, and you

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<v Speaker 1>at night you want to be in a place where

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<v Speaker 1>it's actually it's fun and there is no such place

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<v Speaker 1>that where you you wake up every morning and you

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<v Speaker 1>feel you still young and beautiful. Yeah, young and beautiful exactly.

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<v Speaker 1>Who doesn't want to feel that way? And you do

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<v Speaker 1>in Miami. I mean it's I was down there in

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<v Speaker 1>basically winter type weather. It should be Christmas season. There

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<v Speaker 1>are Christmas trees and it was eighty degrees outside. Yeah,

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<v Speaker 1>I love this. So is that what's so different about

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<v Speaker 1>the Miami atmosphere that makes it so attractive for crypto entrepreneurs.

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<v Speaker 1>It's one of the things. And I will say too

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<v Speaker 1>that this has been an accelerated interest of moving to

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<v Speaker 1>different Southern cities as hubs for tech, not only just crypto,

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<v Speaker 1>but that was really accelerated by the pandemic to when

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<v Speaker 1>there's a work from anywhere push in Miami became one

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<v Speaker 1>of the really big betefactors of that. In crypto as

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<v Speaker 1>an industry that traditionally has been pretty flexible with remote working,

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<v Speaker 1>it's kind of a question of, well, if you can

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<v Speaker 1>be anywhere, why not be to Miami. And it's especially

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<v Speaker 1>true for Miami and the fact that there are so

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<v Speaker 1>many conferences, they're so many events and so many networking opportunities,

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<v Speaker 1>I mean endless things if you go on event right

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<v Speaker 1>of happy hours coffee meet up. So one guy was

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<v Speaker 1>telling me that there will just be like pool side

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<v Speaker 1>hangout type things that are crypto networking activities and that

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<v Speaker 1>activity and adventure is still there. And one thing that

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<v Speaker 1>was true from some and a lot of other people

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<v Speaker 1>I talked with it's not their first bear market, so

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<v Speaker 1>they've seen the cycles and they remain pretty confident that

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<v Speaker 1>they will be able to weather the down cycle. Now

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<v Speaker 1>and then, what about the role that Francis Suarez has played.

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<v Speaker 1>How has he how how big of a promoter has

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<v Speaker 1>he been of crypto and how much was he behind

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<v Speaker 1>some of the biggest changes that we've seen within Miami

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<v Speaker 1>in terms of seeing these different FTX sponsorships for instance,

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<v Speaker 1>or any other cryptocentric or crypto related development in the city. Right,

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<v Speaker 1>So he's been huge. He's been very pro business, and

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<v Speaker 1>he's been very pro crypto. I think Miami could easily

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<v Speaker 1>be one of the most globally significant cities. I think

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<v Speaker 1>it can be what I call the capital of capital,

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<v Speaker 1>a place where if you want to build a business,

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<v Speaker 1>if you want to innovate. There is no better place

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<v Speaker 1>in the planet because we're in the intersection of New York,

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<v Speaker 1>of South America, UH Silicon Valley, and Israel in the

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<v Speaker 1>Middle East, and so I think we're strategically located and

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<v Speaker 1>positioned very well for the future. We have a tremendous

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<v Speaker 1>ability to grow. We have we're inviting it. He remains

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<v Speaker 1>very procrypo. So I went to this one conference where

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<v Speaker 1>he was a primary speaker. He launched off the conference

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<v Speaker 1>and in his speech he did not mention f t

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<v Speaker 1>X by name the entire time, but you knew what

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<v Speaker 1>he was talking about. He interest kept referencing Yeah, I mean,

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<v Speaker 1>he kept referencing the down cycles and how everything's changed.

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<v Speaker 1>He didn't name any names, but he said they're going

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<v Speaker 1>to continue on, They're going to keep building. Miami is

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<v Speaker 1>still a crypto capital. It's a crypto city, you know,

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<v Speaker 1>and he's done that through various campaigns to bring people

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<v Speaker 1>down there. He encouraged FTX to move down there. He

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<v Speaker 1>encouraged other companies to set up their headquarters to He

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<v Speaker 1>also had this Miami Coin initiative, which was basically a

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<v Speaker 1>city coin established for Miami. So like Miami even had

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<v Speaker 1>its own cryptocurrency at some point, and that was because

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<v Speaker 1>of Mayor's barez. So I don't think it's even possible

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<v Speaker 1>to to overstate how important he was to all of

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<v Speaker 1>these companies taking up Miami as their home coming. Up

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<v Speaker 1>more with Bloomberg reporter Carli Wanna on how the future

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<v Speaker 1>of crypto is shaping up in Miami. We'll be right back.

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<v Speaker 1>So you mentioned f t X that obviously was one

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<v Speaker 1>of the biggest stories within crypto in two what sort

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<v Speaker 1>of presence did they have in the city, right, So

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<v Speaker 1>in one they announced that they would be setting up

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<v Speaker 1>some sort of offices there, and so our understanding is

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<v Speaker 1>that there was as a physical office in Miami for

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<v Speaker 1>fd X. It's been there for a while now, but

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<v Speaker 1>originally their fd X u S headquarters had been in Chicago.

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<v Speaker 1>Earlier this year, Within months of them opening up in Chicago,

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<v Speaker 1>f t X u S announces just kidding, we're moving

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<v Speaker 1>from Chicago and we are setting up camp in Miami.

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<v Speaker 1>That happened just a couple of months a few months ago. Now,

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<v Speaker 1>two months later, they obviously filed for bankruptcy, but even

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<v Speaker 1>a month before fd X file, they were still, according

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<v Speaker 1>to reports, actively encouraging staffers to move down there. What

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<v Speaker 1>we learned when we were there is that they were

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<v Speaker 1>actually eyeing property at this really nice kind of luxury

0:11:39.559 --> 0:11:42.760
<v Speaker 1>office building called four fifty Brickle of It's where a

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<v Speaker 1>lot of other banks and investment types are set up.

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<v Speaker 1>I mean space goes for ninety dollars a square foot, right,

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<v Speaker 1>It's a very nice building. So they had all eyes

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<v Speaker 1>sat on this building. And then of course, you know,

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<v Speaker 1>fd X files for bankruptcy and it's hard to know

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<v Speaker 1>exactly what is going on with f t x U

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<v Speaker 1>S and Bangmin. Freed has tweeted out recently enough, although

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<v Speaker 1>before charges were brought up, because he hasn't been quite

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<v Speaker 1>as active on Twitter since that has happened. He did

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<v Speaker 1>tweet out that to his knowledge, f t x US

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<v Speaker 1>remained solvent. It's really fuzzy what exactly the details are. Regardless,

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<v Speaker 1>f t x US was setting up its headquarters in Miami,

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<v Speaker 1>and the footprint of f t X is elsewhere on

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<v Speaker 1>that city. People told me that there was just places

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<v Speaker 1>on the beach where you'd kind of see the f

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<v Speaker 1>t x name or logo, or they'd have an advertising push.

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<v Speaker 1>You know, they were at Formula one races last year,

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<v Speaker 1>having parties. They even had this kind of clubby so

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<v Speaker 1>Lana Spaces type thing. And of course there was the

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<v Speaker 1>f t X Arena that is home of the NBA

0:12:47.520 --> 0:12:51.480
<v Speaker 1>Miami Heat and Miami did County is now asking a

0:12:51.520 --> 0:12:56.720
<v Speaker 1>federal bankruptcy court for immediate right to terminate that agreement

0:12:56.760 --> 0:12:59.000
<v Speaker 1>with them and get the ft X logo stripped off

0:12:59.000 --> 0:13:00.760
<v Speaker 1>of it, despite the fact that I mean that was

0:13:00.840 --> 0:13:04.079
<v Speaker 1>a thick deal. It was a d million dollars across

0:13:04.200 --> 0:13:10.120
<v Speaker 1>nineteen years. Yeah, obviously having your name tied to the

0:13:10.200 --> 0:13:12.440
<v Speaker 1>arena and everything and then having this fall out, it's

0:13:12.480 --> 0:13:17.760
<v Speaker 1>sort of mars the whole experience. But can you also

0:13:17.800 --> 0:13:21.040
<v Speaker 1>talk about you you were with crypto people at crypto

0:13:21.040 --> 0:13:25.200
<v Speaker 1>conferences where they were specifically gathering to talk about what's

0:13:25.200 --> 0:13:28.160
<v Speaker 1>going on with crypto. But what about the general population

0:13:28.480 --> 0:13:33.080
<v Speaker 1>within Miami how much crypto adoption actually is there because

0:13:33.080 --> 0:13:35.880
<v Speaker 1>we did have this huge push as you mentioned by

0:13:36.000 --> 0:13:41.120
<v Speaker 1>the mayor. But is did crypto actually have a stronghold

0:13:41.200 --> 0:13:44.240
<v Speaker 1>in in Miami or is it just that crypto fans

0:13:44.240 --> 0:13:47.560
<v Speaker 1>would flock there to celebrate together, to party together, to

0:13:47.720 --> 0:13:52.000
<v Speaker 1>be together when when they can be right when I

0:13:52.040 --> 0:13:54.800
<v Speaker 1>talked to people in the area. They kind of used

0:13:54.840 --> 0:13:59.880
<v Speaker 1>the term crypto tourists a lot. At first, I thought, right, right,

0:14:00.040 --> 0:14:01.280
<v Speaker 1>so it was kind of I had to fill in

0:14:01.320 --> 0:14:04.000
<v Speaker 1>the gaps. The first one person used it, and I thought, Wow,

0:14:04.040 --> 0:14:06.320
<v Speaker 1>what a weird thing that they say. And then I

0:14:06.440 --> 0:14:09.840
<v Speaker 1>kept hearing this term. What my understanding came to be

0:14:10.000 --> 0:14:13.400
<v Speaker 1>of this concept of cryptotauris was it was people who

0:14:13.440 --> 0:14:17.600
<v Speaker 1>didn't necessarily live in Miami a couple of years ago

0:14:18.000 --> 0:14:21.640
<v Speaker 1>and had just come there for the crypto hype. I mean,

0:14:21.760 --> 0:14:29.760
<v Speaker 1>last November crypto prices where skyrocketing Bitcoin was over six k,

0:14:30.440 --> 0:14:33.240
<v Speaker 1>and Miami saw it. They felt it. They felt this

0:14:33.440 --> 0:14:36.240
<v Speaker 1>influx of people coming in wanting to be a part

0:14:36.280 --> 0:14:40.760
<v Speaker 1>of this scene. Now what they're saying is that what's

0:14:40.880 --> 0:14:43.520
<v Speaker 1>left is the people who are trying to build products.

0:14:43.560 --> 0:14:48.200
<v Speaker 1>They say that the conversation is more serious that it's

0:14:48.240 --> 0:14:52.600
<v Speaker 1>Some people said exactly like quantity or quality over quantity.

0:14:52.720 --> 0:14:55.960
<v Speaker 1>You know, the conversations are better even if there's fewer

0:14:56.040 --> 0:14:58.000
<v Speaker 1>people who are part of it. And I talked to

0:14:58.040 --> 0:15:02.040
<v Speaker 1>some folks to who where actually from Miami, and we've

0:15:02.120 --> 0:15:04.080
<v Speaker 1>seen it through a lot of different cycles. One of

0:15:04.120 --> 0:15:08.040
<v Speaker 1>them was Rock at Irvine. She runs an incubation coworking

0:15:08.080 --> 0:15:13.040
<v Speaker 1>space in Windwood in an accelerator program partnerships with TATAM,

0:15:13.120 --> 0:15:15.800
<v Speaker 1>which is a Web three infrastructure for development company. I

0:15:15.840 --> 0:15:17.560
<v Speaker 1>was so glad I met her. She was the perfect

0:15:17.600 --> 0:15:19.400
<v Speaker 1>person to talk to and she had a lot of

0:15:19.440 --> 0:15:23.080
<v Speaker 1>thoughts about f t X and about Crypto and how

0:15:23.120 --> 0:15:25.400
<v Speaker 1>it had changed the city. She said that f t

0:15:25.760 --> 0:15:29.880
<v Speaker 1>X was really present in promo and marketing campaigns. You

0:15:29.960 --> 0:15:33.040
<v Speaker 1>saw that in the parties, you saw that in art Basil,

0:15:33.440 --> 0:15:35.760
<v Speaker 1>you saw that in the hackathon. But at the end

0:15:35.800 --> 0:15:39.360
<v Speaker 1>of the day, she said that Miami is so used

0:15:39.400 --> 0:15:43.680
<v Speaker 1>to changing itself. Miami is so used to reinventing itself

0:15:43.720 --> 0:15:46.640
<v Speaker 1>as a city. So she said that even though ft

0:15:46.880 --> 0:15:50.760
<v Speaker 1>X collapse, even if Crypto didn't have the stronghold anymore,

0:15:50.840 --> 0:15:53.120
<v Speaker 1>at some point the city would be fine. It will

0:15:53.160 --> 0:15:56.880
<v Speaker 1>find something else. It's just like Vegas spring breaks coming up.

0:15:57.160 --> 0:16:00.440
<v Speaker 1>You know, they're they're going to be fine. It's transient, right,

0:16:00.640 --> 0:16:05.000
<v Speaker 1>and it's a city that transform itself constantly. It like evolves,

0:16:05.480 --> 0:16:08.280
<v Speaker 1>you know. You know, in the early eighties, it used

0:16:08.320 --> 0:16:11.280
<v Speaker 1>to be um a city where if you go to

0:16:11.360 --> 0:16:13.080
<v Speaker 1>South Beach, there was a ton of old people on

0:16:13.200 --> 0:16:16.400
<v Speaker 1>rocking chairs and like Europeans who were topless on the beach.

0:16:16.480 --> 0:16:18.360
<v Speaker 1>And then over the years, you know, it turned into

0:16:18.400 --> 0:16:22.040
<v Speaker 1>this like fun playground for young people, and then now

0:16:22.080 --> 0:16:25.760
<v Speaker 1>it turned into this um innovation tech cub But in

0:16:25.800 --> 0:16:28.640
<v Speaker 1>the future it can become something else. Um. You know,

0:16:28.680 --> 0:16:32.240
<v Speaker 1>it can transform into this you know, uh capital of

0:16:32.280 --> 0:16:36.240
<v Speaker 1>capitals that people are trying to make Miami be um.

0:16:36.280 --> 0:16:38.440
<v Speaker 1>You know, we have a lot of people coming from

0:16:38.440 --> 0:16:43.360
<v Speaker 1>Tel Aviv, a lot of really really large unicorn factories

0:16:43.400 --> 0:16:45.640
<v Speaker 1>that want to put their flag here and make Miami

0:16:45.720 --> 0:16:51.240
<v Speaker 1>the next Silicon valley. Okay, so Miami is the next

0:16:51.320 --> 0:16:54.680
<v Speaker 1>Silicon valley? Is that the sense that people gave you, Like,

0:16:54.720 --> 0:16:57.560
<v Speaker 1>I'm just wondering what what what's next? Like what's next

0:16:57.600 --> 0:17:00.760
<v Speaker 1>from Miami? You mentioned all of the upsmism among the

0:17:00.800 --> 0:17:04.080
<v Speaker 1>different crypto people, but like are they working on specific

0:17:04.200 --> 0:17:08.920
<v Speaker 1>things and how maybe how does it tie into what's

0:17:08.960 --> 0:17:12.040
<v Speaker 1>going on with Miami and its crypto push. Right. I

0:17:12.040 --> 0:17:15.119
<v Speaker 1>think the story of Miami is probably very similar to

0:17:15.200 --> 0:17:17.600
<v Speaker 1>the story of the crypto community in so many places,

0:17:17.720 --> 0:17:20.159
<v Speaker 1>and that is the fact that people are still building,

0:17:20.320 --> 0:17:23.240
<v Speaker 1>they are still trying to roll out products. It's a

0:17:23.240 --> 0:17:26.560
<v Speaker 1>harder space you know, I talked to a lot of bcs,

0:17:26.720 --> 0:17:29.720
<v Speaker 1>are talked to people who are seeking funds, and it's

0:17:29.760 --> 0:17:34.480
<v Speaker 1>certainly more challenging than it was in say, when markets

0:17:34.480 --> 0:17:36.639
<v Speaker 1>were faring a lot better. I should also say that

0:17:36.760 --> 0:17:40.520
<v Speaker 1>Miami under Suarez, they are still very much pushing for

0:17:40.560 --> 0:17:42.920
<v Speaker 1>crypto companies to come down there. They haven't changed tax

0:17:43.280 --> 0:17:45.000
<v Speaker 1>I think RAX that really put it best though, and

0:17:45.119 --> 0:17:48.320
<v Speaker 1>that Miami it's an appealing place to live. The weather

0:17:48.560 --> 0:17:51.199
<v Speaker 1>is awesome, the beach is right there, and as they

0:17:51.240 --> 0:17:54.840
<v Speaker 1>get more infrastructure and they get more banks and financial institutions,

0:17:55.200 --> 0:17:57.880
<v Speaker 1>it's really going to grow and has a pretty solid

0:17:57.920 --> 0:18:01.800
<v Speaker 1>selling point for other businesses to come down there. So yeah,

0:18:01.880 --> 0:18:04.879
<v Speaker 1>like Roxette said, right now, it's crypto. Who knows what

0:18:04.920 --> 0:18:07.000
<v Speaker 1>I might be moving forward. She had a guest that

0:18:07.080 --> 0:18:10.720
<v Speaker 1>maybe it will be tech more generally setting up camp

0:18:10.720 --> 0:18:13.199
<v Speaker 1>in Miami as a hub. Whether that's true or not

0:18:13.400 --> 0:18:15.800
<v Speaker 1>is yet to be seen, But I do see what

0:18:15.840 --> 0:18:17.600
<v Speaker 1>she's saying. There is a certain energy and there is

0:18:17.640 --> 0:18:19.600
<v Speaker 1>a certain appeal to Miami that I don't think it's

0:18:19.600 --> 0:18:22.280
<v Speaker 1>going to go away. To all of our editors listening,

0:18:22.600 --> 0:18:25.600
<v Speaker 1>Carlie and I are free to go to Miami whenever

0:18:25.600 --> 0:18:29.000
<v Speaker 1>you guys need us too. Yeah, the office there was

0:18:29.520 --> 0:18:33.160
<v Speaker 1>blooming here. Yeah, the Bloomberg office it was. They're set

0:18:33.200 --> 0:18:37.120
<v Speaker 1>up the exact same same snacks. We're free to go, Yeah, anytime.

0:18:37.119 --> 0:18:39.280
<v Speaker 1>I can pack my bags right now. Yeah, I agree,

0:18:39.320 --> 0:18:42.520
<v Speaker 1>I'm happy to go down. Well, Carlie, thank you so

0:18:42.600 --> 0:18:45.119
<v Speaker 1>much for joining us on the podcast. Thank you for

0:18:45.160 --> 0:18:48.920
<v Speaker 1>having me. That was Bloomberg reporter carl Wanna. You can

0:18:48.920 --> 0:18:51.520
<v Speaker 1>find more of her reporting on the Bloomberg Terminal and

0:18:51.560 --> 0:18:54.240
<v Speaker 1>on Bloomberg dot com. For more, be sure to check

0:18:54.280 --> 0:19:01.840
<v Speaker 1>out our twice weekly newsletter, Bloomberg Crypto. M This is

0:19:01.840 --> 0:19:05.520
<v Speaker 1>Bloomberg Crypto, a daily podcast from Bloomberg and I Heart Radio.

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0:19:13.200 --> 0:19:15.760
<v Speaker 1>Send us your comments, questions, or suggestions for the show

0:19:15.920 --> 0:19:22.119
<v Speaker 1>to Crypto at Bloomberg dot net. The supervising producer of

0:19:22.119 --> 0:19:26.280
<v Speaker 1>Bloomberg Crypto is Vicky Verglina. Our senior producer is Janet Babin.

0:19:26.920 --> 0:19:30.520
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<v Speaker 1>producers are Ty Butler and Moses on Them Desta Wonder

0:19:34.400 --> 0:19:39.280
<v Speaker 1>at is our engineer. Original music by Leo Sidron. I'm

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<v Speaker 1>Stacy Marie Shmal. We'll be back tomorrow.