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The Breakdown

How Stablecoins Could Extend Dollar Dominance

The Breakdown

Blockworks

Investing, Business

4.8806 Ratings

🗓️ 18 June 2024

⏱️ 16 minutes

🧾️ Download transcript

Summary

In today's episode, NLW looks at a recent op-ed by former House speaker Paul Ryan on why stablecoins on permissionless blockchains are aligned with US values and could extend dollar dominance another generation. We also cover an upcoming crypto roundtable that theoretically has White House buy-in. Enjoying this content? SUBSCRIBE to the Podcast: https://pod.link/1438693620 Watch on YouTube: https://www.youtube.com/nathanielwhittemorecrypto Subscribe to the newsletter: https://breakdown.beehiiv.com/ Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW

Transcript

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0:00.0

Welcome back to The Breakdown with me, NLW.

0:09.3

It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.

0:18.3

What's going on, guys? It is Monday, June 17th, and today we are talking about how stable coins

0:23.9

will fund the U.S. debt and the Biden White House participating in a crypto roundtable.

0:28.6

Before we get into that, however, if you are enjoying the breakdown, please go subscribe to it,

0:32.4

give it a rating, give it a review, or if you want to dive deeper into the conversation,

0:36.0

come join us on the Breakers Discord.

0:40.9

You can find a link in the show notes or go to bit.ly slash breakdown pod.

0:46.3

Hello friends, happy Monday. Hope you had a great summer weekend. We got some interesting stuff to kick off the week. And in the ongoing follow-up to the shifting political sands underneath

0:51.5

crypto in the U.S., Biden administration officials are expected to attend a

0:55.4

Bitcoin and blockchain roundtable in early July. The event will be hosted by California Democrat

1:00.2

Rokana in Washington, D.C. According to a private invitation email cited by Bitcoin magazine,

1:04.8

the event is expected to feature House and Senate officials as well as pro-crypto businessman Mark Cuban.

1:09.8

The email said the meeting's

1:10.9

objective is to strategize on how to keep Bitcoin and blockchain innovation in the United States.

1:16.0

Kana's office described the event as, quote, the most significant meeting between

1:19.0

policymakers and innovation leaders in blockchain to date. This is all very plainly a reaction to

1:24.2

Trump's crypto pivot, which is only intensified over the past month. Last week,

1:28.2

the former president hosted a Bitcoin mining summit at Mara Lago. By all reports, Trump was engaged

1:32.7

with the discussion and took the time to listen to industry executives. He came away from the

1:36.7

event with a new catchphrase, stating that he wants, quote, all the remaining Bitcoin to be

1:40.0

made in the USA. Leaving aside the technical issues with that statement, it was still a clearly

...

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