Former Biden Chair of Council on Economic Advisors speaks on GENIUS. You’re all going to want to read this. 

https://econjared.substack.com/p/crytpo-theres-just-no-legit-use-case?publication_id=3782367&utm_campaign=email-post-title&r=ge4xb&utm_medium=email

Honestly pretty alpha move to cause a regional banking crisis just because you hate a certain industry and then go “damn these guys are lobbying so hard, this seems unfair”

History, tech stuff, SEO/marketing, shitposting, etc. etc.


https://paragraph.com/@afaik

Sorry for total reply girl on you. What can I say the posts are good

The bailout risk seems real to me? I don’t want to subsidize another tech bro mess like SVB? 

In some way, foolish arguments re: criminality are a distraction

The Farcaster formerly known as Kchamp. Books, beats, bodybuilding, bright ideas and beautiful things.

katherinechampagne.com

I believe Circle is subject to legit audits, and last time I heard anything from tether CEO he said they were doing an audit with a big four. I get the believe it when you see it side, but I can see many other assets or companies that are a much bigger risk that we kind of trust are fine, with similar assurances. T bills and bonds aren’t FDIC insured but I’m fine with it

they can say they are backed by whatever they want. WHY should I trust that? There’s a variety of scenarios I can envision here from a depeg to a “bank” run that cause problems with no real assurances 

Money market accounts are regulated and FDIC insured!!!

Stable coins are backed by very low risk high liquidity assets afaik, seems as high a bailout risk as something like being able to make withdrawals out of a money market account

I don’t think the flows will be people in the US going from their checking or savings to stable coins it will be people abroad moving money into US or possibly Euro stablecoins. I don’t really see the risk