On The Brink with Castle Island
Weekly Roundup 06/07/24 (Bitstamp acquired, Paxos launches USDL, Bitcoin miners and AI, Kraken IPO rumors) (EP.534)
Jun 7, 2024
Bitcoin miners face challenges in selling to AI market, Kraken rumored for IPO, Paxos USDL launch, SEC setbacks, State Street re-enters crypto, Biden admin's stance on crypto, and Coinbase donations to Fairshake discussed
40:44
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Quick takeaways
- Bitstamp acquired by Robinhood for $200m, signaling a significant deal in the cryptocurrency market.
- Paxos launches interest-bearing stablecoin USDL, expanding the range of stablecoin offerings.
Deep dives
Cryptocurrency Market Overview
Cryptocurrency markets experience various changes, with significant events like the liquidation of Lehman, the federal loans to AIG, and interventions to stabilize Fannie Mae and Freddie Mac. The Bank of England injects funds into Britain's economy, while concerns about excessive printing of money lead to the emergence of Bitcoin as a response to financial worries.
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