Weekly Roundup 06/30/23 (ETF frenzy continues, Prime Trust insolvency, how Stablecoins are like Eurodollars) (EP.434)
On The Brink with Castle Island
The Development of Stablecoins
The development of stablecoins is mirroring the way that euro dollars came to exist. People still want dollar liabilities, but now they're starting to issue them from offshore banks. Our regulatory regime is sclerotic. You can't have an interest bearing stablecoin and, frankly, regulators are waging a war against stable coins here in this country.
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