How did you calculate that?

Look, the simple way of explaining it is we're not just counting people directly working in crypto companies.

There's a ripple effect across the economy.

we're looking at the full economic footprint of the industry, and we really use three main steps, which I'll describe at a very high level.

It's a really complicated model, and the easiest way to understand it is at these high levels.

First, we calculate direct employment, and that's just all the people that are directly employed working at a crypto firm, that broad range of roles that I've talked about already, Ali.

We then look at, indirectly, how many jobs are created and supported to service the crypto industry? And that means all of the people hired by suppliers of crypto firms, specifically because of the business they get from crypto firms themselves.

Are there certain states that are seeing a larger increase in crypto jobs on the market compared to other states? Or what trend lines are you seeing that have to do with geography?

But is there a line past which it can be problematic? Yeah.

Yeah, definitely.

So the availability of credit and easy credit that would be outside normal kind of parameters now has made this kind of more of a problem than it would have always considered being.

So there's two strands to this.

Like normally, if a generation would have considered the future or future economics to be bleak, then we would kind of look ahead and save.

Whereas this is the opposite.

You know, we were looking ahead, we're seeing it bleak, so we're spending.

You know, and there's a complete contradiction there, obviously.