The Collapse of LUNA & UST and the Vulnerability in Crypto | Nathaniel Whittemore

Hidden Forces

Demetri Kofinas

Government, Business

4.8 • 1.6K Ratings

🗓️ 15 May 2022

⏱️ 83 minutes

🔗️ Recording | iTunes | RSS

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Summary

In Episode 249 of Hidden Forces, Demetri Kofinas speaks with Nathaniel Whittemore, host of “The Breakdown” a podcast distributed by CoinDesk, which focuses on the big picture power shifts in the economy and society, seen through the lens of crypto. It’s also the largest daily analysis podcast in the bitcoin and crypto space and one that Demetri has relied on to sort through the daily noise and to get a sense of its community’s cultural attitudes and narratives for years.

Demetri asked Nathaniel to come onto the podcast today to help him make sense of the events that have transpired in crypto over the last week, including the collapse of Terra Luna and its algorithmically maintained stablecoin UST. But they also discuss the overall state of the market and the implications and consequences of collapses like LUNA’s for other stablecoins, as well as for regulation and participation in the space.

Lastly, the two share their perspectives on what Demetri considers to be crypto’s biggest vulnerability, which is its use as a life raft for a generation of younger investors who see it as their ticket out of the hamster wheel of policy-induced financial inequality and modern-day serfdom. What eventually becomes of these people—their disaffection and its manifestation in American political life is a question that they also consider.

You can access the full conversation and transcript to this premium-only episode by going directly to the episode page at HiddenForces.io and clicking on "premium extras." All subscribers gain access to our premium feed, which can be easily added to your favorite podcast application.

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Producer & Host: Demetri Kofinas

Editor & Engineer: Stylianos Nicolaou

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Episode Recorded on 05/13/2022

Transcript

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0:00.0	What's up everybody? My name is Dimitri Cofinas and you're listening to Hidden Forces,
0:05.8	a podcast that inspires investors, entrepreneurs and everyday citizens to challenge consensus narratives
0:13.6	and to learn how to think critically about the systems of power shaping our world.
0:18.3	This episode was recorded end of day Friday, May 13th, and was originally made available in full
0:24.4	to premium subscribers only. My guest in this episode is Nathaniel Whitmore host
0:29.5	of The Breakdown, a podcast distributed by CoinDesk which focuses on the big picture power shifts
0:35.2	in the economy and society seen through the lens of crypto. It shows the largest daily analysis
0:41.3	podcast in the Bitcoin and crypto space and one that I've relied on to sort through the daily
0:45.7	noise and to get a sense of its community's cultural attitudes and narratives for years.
0:51.6	I asked Nathaniel to come onto the podcast today to help us make sense of the events that
0:56.2	have transpired in crypto over the last week including the collapse of Terra Luna and its algorithmically
1:02.5	maintained stablecoin USD. But we also discussed the overall state of the market which is significantly
1:08.7	down since the beginning of this year and the implications and consequences of collapses
1:13.4	like Luna's for other stablecoins and for regulation and participation in the space.
1:19.6	Lastly we share our perspective on when I consider to be crypto's biggest vulnerability which is
1:24.9	its use as a life raft. A very porous life raft mind you for a generation of younger investors
1:31.1	who see it as their ticket out of the hamster wheel of policy-induced financial inequality
1:36.8	and modern-day surfta. What eventually becomes of these people their dissatisfaction
1:41.8	and its manifestation in American political life is a question that Nathaniel and I also consider.
1:48.0	As most of you already know hidden forces is listener supported. I don't accept advertisers
1:52.9	or commercial sponsors and going forward podcasts like this one timely analysis driven content
1:59.3	will sometimes be made available to premium subscribers only. You can access my conversation
	...

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