Exploring the turbulent times when USDC and Circle navigated potential bank insolvency and regulatory hurdles, leading to a surge in stablecoins amidst a banking crisis. Insights into the shift towards transparent and regulation-friendly options, Circle's upgraded banking partners, and the struggles of crypto companies in securing US bank accounts.
------ Joining the podcast today we have the man behind the largest US based stablecoin, Jeremy Allaire, the Founder of USDC Circle.
A year ago USDC depegged in the face of major banks like SVB and Silvergate collapsing. How did Jeremy deal with that? What year is crypto in internet years? Why don’t we have a venmo for crypto yet? Fast forward to 2030, what’s the total value of stablecoins?
0:00 Intro 5:47 SVB Crisis Reflections 24:00 Crypto Age in Internet Terms 31:15 The Future of Stablecoins 41:42 The Crypto Venmo 56:18 Blackrock’s BUIDL Fund 1:01:44 US Government 1:16:35 USDC vs Tether 1:22:00 Central Bank Stablecoins 1:28:14 Regulatory Protectionism 1:32:25 Closing Thoughts