4.8 • 56 Ratings
🗓️ 5 April 2022
⏱️ 27 minutes
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0:00.0 | Good morning everyone. Welcome to another Tech Plus live stream. I'm thrilled to be joined |
0:06.5 | by Matt Balance Wei. Did I say that right? That was pretty good. Okay, good enough. |
0:14.0 | Genesis Trading's co-head of trading and lending. |
0:18.0 | It's great to have you with us. |
0:19.0 | So you're coming to us from New York, right? |
0:21.0 | I am. |
0:22.0 | Yeah, thanks so much for having me, dear, |
0:23.0 | it's a pleasure to be on the show. |
0:24.8 | And yeah, I'm coming to you live from Williamsburg, Brooklyn, New York. |
0:28.7 | There we have it. |
0:30.2 | So this discussion today is gonna to be a neutral one. |
0:33.5 | We're not going to take big positions. |
0:34.7 | We're going to talk about the Bullcase and the Bear case for |
0:37.2 | stable coins, which can be a very controversial topic. |
0:40.5 | And to be very clear at the start, Genesis does not, you do not have a position on tether or any other stable coins, you guys simply execute a trade. Is that correct? |
0:51.0 | Yeah, that's absolutely correct. So Genesis is one of the largest institutional trading firms in market makers in crypto and we're not in the business of taking a view |
0:59.8 | on these assets, right? |
1:01.0 | Whether it's really Bitcoin, Eath, or any stable coin for that matter. So we're simply, you know, playing the role of liquidity provider in this in this instance, and we're facing off against, you know, traditional institutions that want to express a view and then other |
1:12.7 | crypto-native institutions that kind of can take the other side. Right and the reason |
1:16.7 | we're talking to you today was there was this Wall Street Journal article that |
1:20.3 | took a look at more short selling interest in stable coins. |
1:24.0 | First, Matt, you know, is that because you guys have seen more interest? |
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