The Chopping Block: Why Circle CEO Jeremy Allaire Is So Optimistic About Stablecoins' Future - Ep. 541

Unchained

Laura Shin

Business News, News, Tech News

4.6 • 1.3K Ratings

🗓️ 7 September 2023

⏱️ 52 minutes

🔗️ Recording | iTunes | RSS

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Summary

Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tarun Chitra, and Robert Leshner chop it up about the latest news. This week, the group sits down with Circle CEO Jeremy Allaire to discuss how the USDC stablecoin issuer responded to the banking crisis that started at the end of 2022, what PayPal’s new stablecoin offering means for Circle and the rest of the industry, and whether central bank digital currencies (CBDCs) represent real competition for stablecoins. Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Show highlights: how the collapse of FTX and other companies led to a de-banking crisis for the industry what the Circle Reserve Fund is how the banking crisis in early 2023 caused a "flight from safety" how regulatory clarity has improved in the aftermath of the banking crisis why Jeremy actually hopes PayPal's recently launched PYUSD is successful why Tarun believes Central Bank Digital Currencies (CBDCs) are one of the most "boring concepts" within the industry whether CBDCs pose a threat to businesses that issue stablecoins such as Circle Whether the status quo on stablecoins in the U.S. of knowing-your-customer on redemption and minting, but not on holding, is likely to continue. Hosts: Haseeb Qureshi, managing partner at Dragonfly Robert Leshner, founder of Compound Tarun Chitra, managing partner at Robot Ventures Guest: Jeremy Allaire, CEO of Circle Disclosures Links The Chopping Block: Was Crypto Just Debanked? Will PayPal's PYUSD Steal Market Share From Tether and Circle? The Fall of SVB: What Happened and How It Affects Crypto Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	There's going to be a new law in the United States for payment stablecoins, and payment
0:04.7	stablecoins are going to be legally defined as cash equivalent digital pass instruments
0:09.7	in the U.S. financial system.
0:11.7	And when that happens, that's a great thing, and it will create a consistent, clear way
0:18.1	for a very vibrant competitive market to emerge.
0:21.1	Not a dividend.
0:22.1	It's a tale of two funds.
0:23.1	Now, your losses are on someone else's balance.
0:25.7	Generally speaking, air drops are kind of pointless anyways.
0:28.1	I manage trading firms who are very involved.
0:31.3	I like to eat the ultimate ones.
0:33.7	DeFi protocols are the antidote to this problem.
0:37.8	Hello everybody, welcome to Chopping Block.
0:39.4	Every couple weeks, the four of us get together and give the industry insider's perspective
0:42.1	on the crypto topics of the day.
0:43.9	So first quick and chose, we got Robert, the crypto connoisseur, and Tsar of Superstate.
0:48.5	Then we've got Turun, the Gigabrain, and Grand Puba at Kotlet.
0:51.2	Today, we've got a special guest, Jeremy Alair, stablecoin steward, and CEO at Circle.
0:56.8	And finally, we've got myself, I'm a seed, the head high man at Dragonfly.
0:59.7	So we are early stage investors in crypto, but I want to caveat, nothing we say here is
1:02.7	investment advice, legal advice, or even life advice, please see Chopping Block that XYZ
1:07.1	for more disclosures.
	...

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