BREAKDOWN: Jeremy Allaire on the Regulatory Fallout After Terra

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CoinDesk

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4.7 • 698 Ratings

🗓️ 13 May 2022

⏱️ 25 minutes

🔗️ Recording | iTunes | RSS

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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. - Nexo is a secure crypto exchange and crypto lending platform. Buy 40+ hot coins with your bank card in seconds and swap between exclusive pairs for cashback. Earn up to 17% interest on your idle crypto assets and borrow against them for instant liquidity. Simple and secure. Head over to nexo.io and get started now. - NEAR is a blockchain for a world reimagined. Through simple, secure, and scalable technology, NEAR empowers millions to invent and explore new experiences. Business, creativity, and community are being reimagined for a more sustainable and inclusive future. Find out more at NEAR.org. - FTX US is the safe, regulated way to buy Bitcoin, ETH, SOL and other digital assets. Trade crypto with up to 85% lower fees than top competitors and trade ETH and SOL NFTs with no gas fees and subsidized gas on withdrawals. Sign up at FTX.US today. - Consensus 2022, the industry’s most influential event, is happening June 9–12 in Austin, Texas. If you’re looking to immerse yourself in the fast-moving world of crypto, Web 3 and NFTs, this is the festival experience for you. Use code BREAKDOWN to get 15% off your pass at www.coindesk.com/consensus2022. - “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. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:44.6	UK. That's audible.com slash Wondery UK.
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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