Austin Campbell, a seasoned finance professional and adjunct professor at Columbia Business School, dives deep into the complex world of crypto. He discusses the implications of Bitcoin trading above $100,000 and the controversy surrounding the 'war on crypto.' Austin also unpacks the history of debanking practices and the regulatory landscape, particularly the influence of political shifts on the crypto narrative. Plus, he highlights the crucial role of stablecoins in economically challenged regions, showcasing their significance in areas facing instability.

This is Eric Golden and my guest today is Austin Campbell. Between my time working at Fidelity on money market funds and my passion for blockchain technology, I became obsessed with the idea of Stablecoins. Stablecoins can serve as a means of payment and a store of value for transactions. They also act as the bridge between the traditional finance system and the digital world. After my interview with Mike Dudas, I asked, who is the smartest person I can talk to about Stablecoins? He instantly responded, you need to speak with Austin and as you'll hear, I think he's right. Austin spent 15 years in traditional finance before managing $22bn of Stablecoin reserves for Paxos. Today, he's an Adjunct Professor at Columbia Business School and the managing partner at Zero Knowledge Consulting. In this conversation, Austin helps me break down the nuts and bolts of how Stablecoins work. We also discuss the lessons crypto should learn from the traditional finance world and how the current US regulatory crackdown will shape the ecosystem going forward. Please enjoy this Stablecoin primer with Austin Campbell. For the full show notes, transcript, and links to the best content to learn more, check out the episode page here -----Web3 Breakdowns is a property of Colossus, LLC. For more episodes of Web3 Breakdowns, visit joincolossus.com/episodes. Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here. Follow us on Twitter: @Web3Breakdowns | @ericgoldenx | @patrick_oshag Show Notes[00:03:21] - [First question] - What can be learned from TradFi and applied to crypto[00:05:13] - The basics of Stablecoins and why they are important[00:07:39] - The logistics and mechanics of Stablecoins from the ground up[00:17:14] - Time-delay and infrastructure problems when trading with Stablecoins[00:21:18] - Liquidity, time sensitivity, and credit risk for issuers and buyers of Stablecoins [00:24:59] - The roles, challenges, and faults of regulators in the space [00:33:04] - The extent to which he sees regulators favored versus fouled by crypto natives[00:34:50] - The SEC’s imposition that qualified custodians are needed to exchange crypto assets[00:37:53] - His takes on news regarding Paxos and the BUSD[00:43:01] - Concerns regarding Binance and its Stablecoin consolidations[00:46:30] - Aspects of global Stablecoin regulation he’s optimistic about[00:49:01] - Why the US may not be a promised land for crypto[00:50:21] - The positives and potential impact of Stablecoins broadly, despite the pushback[00:54:03] - The possibility of traditional assets using crypto rails[01:00:04] - What he’s most excited to see built over the next six months and six years Learn more about your ad choices. Visit megaphone.fm/adchoices

Austin Campbell, a professor and former Chief Risk Officer at Paxos, champions the benefits of crypto and stablecoins for everyday Americans. He draws parallels between the 2008 financial crisis and the current banking system's flaws. The conversation delves into the importance of understanding cryptocurrency and its potential to democratize finance. Campbell addresses misconceptions about banking, the risks tied to traditional systems, and how stablecoins can offer a more secure alternative for the middle class, ultimately redefining their financial future.

Austin Campbell is the managing partner of Zero Knowledge Consulting, an adjunct professor at Columbia Business School, and used to work at Paxos in both Portfolio Management and Chief Risk Officer. He also was Co-Head of Digital Assets in Global Rates at CitiBank at JP Morgan for a decade.  Austin knows a thing or two about the TradWorld and we brought him on to help us navigate all of the TradNews that has surfaced in the last two weeks around the crypto space.  ------ 🚀 Unlock $3,000+ in Perks with Bankless Citizenship 🚀 https://bankless.cc/GetThePerks  ------ 📣 CYFRIN | Smart Contract Audits & Solidity Course https://bankless.cc/cyfrin  ------ BANKLESS SPONSOR TOOLS: 🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE https://k.xyz/bankless-pod-q2    🦊METAMASK LEARN | HELPFUL WEB3 RESOURCE https://bankless.cc/MetaMask   ⚖️ ARBITRUM | SCALING ETHEREUM https://bankless.cc/Arbitrum   🧠 AMBIRE | SMART CONTRACT WALLET https://bankless.cc/Ambire  🦄UNISWAP | ON-CHAIN MARKETPLACE https://bankless.cc/uniswap  🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle  ----- TIMESTAMPS:  0:00 Intro 5:12 Austin Campbell 7:14 TradFi Last Two Weeks  10:59 Political Conspiracy 15:05 Timing Analysis  17:17  BlackRock Bitcoin ETF 20:05 Other Bitcoin ETFs Denied  22:47 What's the SEC's Next Move? 24:00 How Bullish is This?  26:13 BlackRock & Coinbase/Kraken Partnership  31:15 EDX Markets  37:22 Unbundling of Crypto Exchanges 42:22 Stablecoins Landscape  49:55 Stablecoin McHenry Bill 56:50 International Stablecoins  57:55 Closing & Disclosures ----- RESOURCES: Austin Campbell https://twitter.com/CampbellJAustin  ----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research. Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://www.bankless.com/disclosures 

Austin Campbell, Managing Director at Zero Knowledge Consulting, and Ed Woodford, CEO of Zero Hash, dive into the fascinating world of stablecoins. They discuss Circle's partnership with Binance and its implications for market compliance and liquidity. The conversation also illuminates the evolving regulatory landscape, especially the significance of Ripple's NYDFS approval. With insights on market shifts and the growing role of stablecoins in transactions, they highlight the innovative potential for businesses in emerging markets.