The Future of Stable Coin Regulation in the United States

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I think that the corruption of our public figures runs very deep. And it does not surprise me that sam would want to spend his money to spend some time on stage with a sexual preditor and a war criminal. The bigger challenge for regulators is something like luna or terra. They're going to end up under some combination of the purview of the treasure, the o c c and the fed. It's not sustainable at least with current levels of funding,. for them to keep after these types of schemes. Justin sun has already started another block chain called us tron which offers 40% p y now instead of 20%. Maybe that'll fix all the problems? I'm not entirely

Paris Marx is joined by Bennett Tomlin to discuss last week’s crash of Terra and Luna, the problems with stablecoins, and whether this collapse will finally force regulators to take action on cryptocurrency.

Bennett Tomlin is a co-host of Crypto Critics’ Corner and writer of the FUD Letter. Follow Bennett on Twitter at @BennettTomlin.

Tech Won’t Save Us offers a critical perspective on tech, its worldview, and wider society with the goal of inspiring people to demand better tech and a better world. Follow the podcast (@techwontsaveus) and host Paris Marx (@parismarx) on Twitter, and support the show on Patreon.

Find out more about Harbinger Media Network at harbingermedianetwork.com.

Also mentioned in this episode:

Paris wrote about the Terra/Luna collapse and why we can’t let those who promoted crypto scams escape blame for their actions.
Bennett references George Soros’ attack on the British pound in 1992, also known as Black Wednesday.
Do Kwan was behind the failed Basis Cash stablecoin.
Vitalik Buterin backed a proposal for an FDIC-like response to rescue “small holders” who lost money in the Luna collapse.
Investors recently pulled $7 billion out of Tether, which still won’t be open about its reserves. It was hacked in 2017.
FTX CEO Sam Bankman-Fried described yield farming as a Ponzi scheme.
Justin Sun has already launched a copycat of the failed Terra algorithmic stablecoin. The Verge did a deep dive on him in March.
a16z says the crypto winter is here.