SOB: Can Stablecoins Survive?

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CoinDesk

Tech News, Business News, Daily News, News

4.7 • 698 Ratings

🗓️ 22 December 2021

⏱️ 59 minutes

🔗️ Recording | iTunes | RSS

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Summary

Join hosts Adam B. Levine and Stephanie Murphy along with special guest Josh Scigala, CEO of Vaultoro, for a wide-ranging exploration of the growing asset class of "Stablecoins." This episode is sponsored by Nexo.io, KuCoin and DeFiHorse. On this episode we discuss: The possibility of central banks or regulators banning private 1:1 stablecoins. The challenges faced by early, decentralized, overcollateralized stablecoins. How negative interest rates will drive 1:1 stablecoins into fractional reserve. The potential weaponization of unlimited money printing to take control of limited resources. The scenario where governments freeze bank accounts connected to 1:1 backed coins in an attempt to destroy the wider crypto economy. The Potential for mismanagement of funds by 1:1 companies and threat of a Lehman brothers 2.0 The shrinking but still dangerous dearth of transparency within the biggest stablecoin balance sheets Why regulators can't seem to keep up with real solutions Why Josh believes decentralised stablecoins present a better set of tradeoffs. - Nexo is a powerful, all-in-one crypto platform where you can securely store your assets. Invest, borrow, exchange and earn up to 12% APR on Bitcoin and 20+ other top coins. Insured for $375M and audited in real-time by Armanino, Nexo is rated excellent on Trustpilot. Get started today at nexo.io. - KuCoin was listed on Forbes Advisor’s “The Best Crypto Exchanges Of 2021,” which highlighted hundreds of tradable coins, low fees, plus automated and margin trading. Sign up NOW to claim a $500 welcome bonus at KuCoin.com. - DeFiHorse’s races start in Q1/2022. This GameFi project has premium graphics and highly competitive gameplay. DeFiHorse beams you to a cyberpunk world, providing you with legendary steeds to top the leaderboards and become the ultimate champion. For more info visit bit.ly/DeFiHorse. - Today’s show featured Andreas M. Antonopoulos, Jonathan Mohan, Stephanie Murphy and Adam B. Levine, with editing by Jonas. Music for todays show was provided by Jared Rubens and Gurtybeats.com. Our episode art was created by Adam B. Levine using pixelmind.ai Any questions or comments? Send us an email at adam@speakingofbitcoin.show 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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0:49.6	This episode of Speaking of Bitcoin on the Coin Desk Podcast Network is brought to you by nexo.io,
0:55.9	Kucoin, and Defi Horace.
1:01.6	While it's not the sexiest use case, stablecoins have become an increasingly important,
1:05.7	or at least mainstream part of the cryptocurrency story.
1:08.7	When I helped figure out how the original asset-backed
1:11.1	stablecoin tether could work way back in 2014, we were effectively trying to solve
1:14.9	a very specific and somewhat limited problem. Creating a form of money that would effectively
1:19.0	be dollar or other national currency-paked instruments that would work natively in the new
1:23.7	token economy, because at least for the most part, there was no way to transfer
1:27.7	dollar-denominated assets between wallets or between exchanges without using the banking system.
1:32.5	And there were times when that was really, really useful.
1:35.7	These days, stable coins are big business and a very competitive market.
	...

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