The Scoop Series Finale: Mike Dudas on how stablecoins are eating Wall Street
Jul 18, 2025
Mike Dudas, Managing Partner of 6MV and former CEO of The Block, shares insights on the evolution of crypto and its impact on Wall Street. He delves into the rise of stablecoins and their role as a game-changer in payment systems. Dudas discusses Tether's significance, the adoption challenges, and how stablecoins are reshaping financial solutions in underserved areas. The conversation also touches on investment opportunities in crypto, the complex dynamics of meme coins, and the future of the crypto landscape.
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Tether's Early Skepticism and Rise
- Early skepticism about Tether stemmed from unknown banking partners and regulatory secrecy.
- The Block helped bring Tether and its founder Paolo into public awareness in 2018.
Stablecoins' Growing Payment Use
- Most stablecoin volume serves crypto trading on centralized exchanges.
- The surge in payments and treasury uses, especially in difficult banking regions, marks a new adoption curve.
Stablecoins and Treasury Demand Surge
- Stablecoin demand for US Treasury bills could grow into the trillions, especially for international payments.
- This demand could steepen the yield curve and expand use in Europe, Canada, Australia, and emerging markets.