On The Brink with Castle Island Weekly Roundup 06/13/25 (Stripe buys Privy, Stablecoin FUD, Rogue Traders) (EP.633)
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Jun 13, 2025 This week features Stripe's intriguing acquisition of Privy, highlighting its wallet infrastructure. The hosts dive into stablecoin discussions, debunking FUD and exploring usability in unstable economies. IPO excitement brews as firms like Bullish and Gemini file paperwork. The troubling world of rogue traders is unveiled, with infamous cases like Barings Bank taking the spotlight. Additionally, GameStop's cryptocurrency strategy falls flat, while Soc Gen prepares to launch its own USD stablecoin.
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Stripe's Stablecoin Strategy
- Stripe's acquisition of Privy signals a major move into the stablecoin space.
- They focus on non-custodial wallets, indicating an open loop payment system strategy.
Stablecoin Usage Reality
- Stablecoins are widely used beyond crypto trading, validated by transaction data.
- Contrary to FUD, most stablecoin transactions involve licensed, KYC-compliant entities.
Leaving Behind Seed Phrases
- The mnemonic phrase for wallet keys was a local maxima in security tech.
- New tech enables non-custodial crypto use without seed phrases, making wallets user-friendly.
