$3 Trillion in Stablecoins by 2030 | Jeremy Allaire, USDC Founder
Bankless
Bankless
4.7 • 1.2K Ratings
🗓️ 29 April 2024
⏱️ 85 minutes
🧾️ Download transcript
Summary
✨ DEBRIEF | Ryan & David unpacking the episode:
https://www.bankless.com/debrief-the-jeremy-allaire-interview
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Joining the podcast today we have the man behind the largest US based stablecoin, Jeremy Allaire, the Founder of USDC Circle.
A year ago USDC depegged in the face of major banks like SVB and Silvergate collapsing. How did Jeremy deal with that? What year is crypto in internet years? Why don’t we have a venmo for crypto yet? Fast forward to 2030, what’s the total value of stablecoins?
Stay tuned because we ask all that and much more.
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TIMESTAMPS
0:00 Intro
5:47 SVB Crisis Reflections
24:00 Crypto Age in Internet Terms
31:15 The Future of Stablecoins
41:42 The Crypto Venmo
56:18 Blackrock’s BUIDL Fund
1:01:44 US Government
1:16:35 USDC vs Tether
1:22:00 Central Bank Stablecoins
1:28:14 Regulatory Protectionism
1:32:25 Closing Thoughts
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RESOURCES
Jeremy Allaire
https://twitter.com/jerallaire
USDXX - What backs a USDC?
https://www.blackrock.com/cash/en-us/products/329365/circle-reserve-fund
Circle
https://www.circle.com/en/
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Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Total value of stable coins. What do you think by the end of this decade by the end of 2030? |
| 0:04.8 | Where are we sitting? 2030? Yeah. Yeah. I feel comfortable saying three trillion dollars. $3 trillion. |
| 0:15.0 | $3 trillion. |
| 0:18.0 | Welcome to Bankless, where we explore the frontier of stable coins. |
| 0:22.0 | This is Ryan Sean Adams. I'm here with David Hoffman and we're |
| 0:24.7 | here to be become more bankless. We've Jeremy Allaire on the podcast today. This is the man |
| 0:30.5 | behind the largest staple coin issued in the US. |
| 0:33.4 | We had so much to talk about. |
| 0:35.2 | A year ago at this time, major banks like Silicon Valley and Silvergate were failing. |
| 0:40.3 | That's the last time we had Jeremy on the podcast. |
| 0:42.2 | A moment when USDC had just |
| 0:44.3 | depegged and was in the middle of recovering. Operation chokepoint seemed to be a |
| 0:49.1 | thing that the US government was doing to squelch off crypto companies from banks and de-bank them. |
| 0:55.6 | How did he deal with all of that? |
| 0:57.2 | That's where we start the conversation. |
| 0:58.9 | And then we discuss, what year is crypto in internet terms? |
| 1:02.6 | Are we in the 80s, in the 90s, and the 2000s? |
| 1:05.4 | How mature is this technology? |
| 1:07.0 | How much more do we have to go? |
| 1:08.8 | We also ask, why don't we have a Venmo for crypto yet? |
| 1:11.9 | And then we get into the Black Rock and Circle Partnership. How big of a deal is this? What does the US government want from Stable coins? Are they going to try to block it and reject it or are they going to embrace it? At that point we had to bring up Circle's controversial statements |
| 1:25.0 | on their main competitor tether. |
... |
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