OCC: ‘No Contagion’ Post-Terra Collapse

The Breakdown

Blockworks

Investing, Business

4.8 • 806 Ratings

🗓️ 26 May 2022

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

This episode is sponsored by Nexo.io, NEAR and FTX US. On today’s episode, NLW covers: Acting Comptroller Michael Hsu’s comments on systemic risk in crypto following Terra South Korean authorities’ push for answers USDC on Ethereum flippens USDT on Ethereum among whales Crypto funds raise billions - 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: Yuichiro Chino/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.

Transcript

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0:00.0	He said that he has come to see crypto's potential and understand why there is excitement around it,
0:04.4	but still thinks there are some challenges, including a highly fragmented system that has features
0:08.8	like cross-chain bridges that can be prone to attacks, and also argued that some of the
0:13.1	rules for custody and ownership rights are underdeveloped relative to how big the industry has
0:17.6	become. Honestly, if that sort of dispassionate fact-based approach is what
0:22.2	all the agencies brought to this party, I think we'd be in a good place. Welcome back to The Breakdown
0:28.8	with me, NLW. It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our
0:35.9	world. The breakdown is sponsored by nexo.io, near NFTX, and produced and distributed by CoinDesk.
0:44.8	What's going on, guys? It is Wednesday, May 25th, and today we are talking about, well, all sorts of things,
0:51.5	from regulations to new funds to a change of the guard in the stablecoin space.
0:57.0	Before we get into that, however, if you are enjoying the breakdown, please go subscribe to it,
1:01.5	give it a rating, give it a review, or if you want to dig deeper into the conversation,
1:05.5	come join us at the Breakers Discord. You can find a link in the show notes or go to bit.ly slash
1:10.5	breakdown pod.
1:12.1	Also, a disclosure as always. In addition to them being a sponsor of the show, I also work with
1:16.4	FTX. And finally, if you have not bought your tickets yet, I highly recommend you check out
1:23.0	CoinDesk's Consensus 2022. It's happening in Austin, Texas, between June 9th and June 12th, and the thing
1:29.9	that makes it different is it's got such a wide array of topics from within this crypto ecosystem.
1:36.0	If you are interested in the sort of big picture power shift side of crypto that we talk about
1:40.4	so much here, you won't want to miss speakers like Congressman Patrick McHenry or
1:44.6	Senator Kirsten Gillibrand. If you are interested in going, use code breakdown to get 15%
1:50.1	off your pass at coindesk.com slash consensus 2022. So it has been another bear market newsday, but
	...

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