> siphoning nearly a trillion dollars out of the productive economy Not exactly correct. While the global crypto market cap is currently around a trillion doll

> siphoning nearly a trillion dollars out of the productive economy Not exactly correct. While the global crypto market cap is currently around a trillion dollars (and was higher in the recent past), this is vastly different than it being the case that a trillion dollars was invested in crypto (i.e., "siphoned out" of the rest of the economy). In fact, according to one estimate, in 2021 global crypto investment was $30.2 billion [1]. (I don't quickly see estimates for 2022.) For comparison, US gross private domestic investment across all industries was $4.1 trillion in 2021 [2] and globally it was several times that. While $30 billion is nothing to sneeze at when considered on its own, crypto investment is a rounding error when compared with global investment. [1] https://home.kpmg/xx/en/home/media/press-releases/2022/02/total-fintech-investment-tops-us-210-billion.html https://home.kpmg/xx/en/home/media/press-releases/2022/02/to... [2] See Table 1.1.5. Gross Domestic Product at https://apps.bea.gov/iTable/iTable.cfm?reqid=19&step=3&isuri=1&select_all_years=0&nipa_table_list=5&series=a&first_year=2020&last_year=2022&scale=-9&categories=survey&thetable= https://apps.bea.gov/iTable/iTable.cfm?reqid=19&step=3&isuri...