David Urban: I don't like it when members of Congress benefit off their trades

Erica Hill: So, David, full disclosure, you are on the Coinbase global advisory board. I know you're pro-crypto. Let's look though at beyond the crypto right.

Erica, I don't like it, all right? I don't like it at all. I don't like when members of Congress benefit off their trades. I don't think, you know, political figures, whether you're president of the United States, or a House member or Senate staffer should be, you know, benefiting off the markets. And so, I don't like it at all. I think it's a major distraction from real legislation that's being taken, you know, taken up in the Senate and moving forward.

So, no, I think it's a distraction. And it was, you know, something the president probably shouldn't have done.

We also heard, you know, from this reporting from "The Times" that a number of the attendees told the times they attended, and I'm quoting here with the explicit intent of influencing Mr. Trump and U.S. financial regulations.

You look at that. I mean, having been an advisor, who does President Trump listen to in a moment like this? Is there anyone around him who could say, hey, this is really a bad look?

Yeah, I'm not quite sure, Erica. You know, I noted some of the — some of the members on the Senate and the House who are who are working towards, you know, real reform on crypto legislation, the Genius Act and other things. They said — they noted it was a distraction as well.

So, I'm not quite sure who he listened to on this one. If he was listening to me, I would have said, stay away, because it's really damaged some real work that was being done in the industry and for the industry.