Some real howlers in that 60 Minutes segment.

“Pretty soon you can use crypto as collateral for a mortgage” — uh, no, I don’t think “counting something as an asset when assessing an applicant’s ability to repay” means pledging it as collateral. It’s a stretch of the term at best

I know it’s a tv show for boomers but I don’t think tv news was always this dumbed-down

And the segment repeats the claim that Genius Act allows non financial companies like Amazon to issue stables which is at best an oversimplification. (They need unanimous approval from three regulatory bodies — they can’t just do it as-of-right. )

And of course the one everybody picked up on, “hard currencies like the dollar.” Yes there’s a lot of fraud and froth in crypto. That has always been only half the story. But boomers gonna boomer.