Circle's CEO, Jeremy Allaire on USDC, SVB's Collapse, & the U.S. Banking System
Bankless
Bankless
4.7 • 1.2K Ratings
🗓️ 16 March 2023
⏱️ 30 minutes
🧾️ Download transcript
Summary
Co-Founder and CEO of Circle, Jeremy Allaire, answers the question, "What's next for USDC?"
It's been a rocky week for the stablecoin. Bottoming out right around $0.88 amidst the U.S. banking crisis, it seems to have regained its peg. What happened behind the scenes? What regulation is needed according to Jeremy? And most importantly, what's next for USDC?
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Timestamps:
0:00 Intro
3:52 Update on the Past Week
15:44 Circle's Adapted Strategy
20:32 CBDCs
26:18 What Regulation is Needed?
29:02 Closing & Disclaimers
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Resources:
Jeremy Allaire
https://twitter.com/jerallaire
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Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
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Transcript
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| 0:00.0 | Thankless Nation, we have a special episode for you today. |
| 0:08.0 | What is next for USDC? |
| 0:10.9 | That is the stablecoin at the center of much of crypto today. |
| 0:15.3 | And David, we brought on the perfect guest to give us the scoop and to tell us what's |
| 0:19.9 | next for USDC and to tell us what happened last week in the crazy weekend where USDC was |
| 0:26.7 | trading 10 cents off of its peg in the midst of what happened banks melting down all sorts |
| 0:33.0 | of chaos. |
| 0:34.0 | So who do we have on today? |
| 0:35.0 | Jeremy Alair, the CEO and I believe co-founder of Circle, the producers of USDC, a probably |
| 0:43.2 | one of the most important pieces of infrastructure in this DeFi landscape, traded all the way |
| 0:46.6 | down to 88 cents, I've seen dye trade off of its peg, I've seen other stablecoin straight |
| 0:51.8 | off its peg, never seen USDC trade off of its peg. |
| 0:54.8 | So I really just want to get the update. |
| 0:57.2 | How has Circle reacted to the events of this banking crisis and what has changed for |
| 1:02.4 | Circle moving forward? |
| 1:03.4 | And so we're just going to get the update from Jeremy Alair. |
| 1:06.2 | Guys, we're going to get right to the episode with Jeremy. |
| 1:09.3 | But before we do, we want to speed run the sponsors who made this episode possible. |
| 1:14.2 | Stick with us. |
| 1:15.2 | Crackling is our strategic sponsor for 2023. |
| 1:18.2 | Why? |
| 1:19.2 | Because Crackling has been around for over 12 years and has proven itself to be deeply |
... |
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