[loourr]

The big banks are larger then ever because of consolidation and inflation but I do think they're getting disrupted.

I think services like Fidelity are meaningfully disrupting banks. I much rather have my money in a money market fund then a deposit checking account. Most loans are not being held on bank balance sheets any more either, but are getting sold to the market, so they're no longer as critical a part of the financing stack.

And we're still early days on stable tokens and the defi infrastructure around them.