Good afternoon. Some of you here today may have purchased bitcoins or one of the other cryptocurrencies or products that have launched in recent years. I’m not here to give you investment advice about them. Rather, I want to share with you our current thinking about these virtual products. Investors worldwide have taken an increasing stake in them over the past few years, even as their market values have fluctuated widely. Around 2,000 crypto products are now available, with dozens more launching every month.1 Trading volumes have grown almost 100-fold in just the past two years. Media interest in them has inflated ... (full story)