BREAKDOWN: Jeremy Allaire on the Regulatory Fallout After Terra
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 13 May 2022
⏱️ 25 minutes
🧾️ Download transcript
Summary
The CEO of Circle discusses where this leaves the stablecoin conversation in Washington, D.C.
This episode is sponsored by Nexo.io, NEAR and FTX US.
Jeremy Allaire is the CEO of Circle, a leader of the USDC consortium. In today’s episode, he and NLW review the state of the stablecoin discussion among U.S. regulators before the implosion of UST and LUNA, and how the events of the last week have changed the discourse.
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“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsors is “Catnip” by Famous Cats and “I Don't Know How To Explain It” by Aaron Sprinkle. Image credit: joe daniel price/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.
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Transcript
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| 0:49.7 | We looked at it very closely for over six months, And our view is that it was literally a ticking |
| 0:56.0 | time bomb. And we thought it had about 30 or 40 days. And then it happened faster because of risk |
| 1:03.0 | off in the crypto markets, this peg defense mechanism, which was built on the idea that Bitcoin |
| 1:10.2 | go up, really challenging when Bitcoin go down. |
| 1:14.6 | Welcome back to The Breakdown with me, NLW. |
| 1:18.8 | It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. |
| 1:24.6 | The breakdown is sponsored by nexo.io, near an FTX, and produced and distributed by |
| 1:29.8 | CoinDesk. What's going on, guys? It is Friday, May 13th, and today I have on Jeremy Aller, |
| 1:39.0 | the CEO of Circle. Before we get into that, however, if you are enjoying the breakdown, |
| 1:46.0 | please go subscribe to it, |
| 1:50.5 | give it a rating, give it a review, or if you want to get deeper into the conversation, come join us on the Breakers Discord. You can find a link in the show notes or go to bit.ly slash breakdown pod. |
| 1:57.6 | Also, a disclosure as always, in addition to them being a sponsor of the show, I also work with |
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