USDC Founder Jeremy Allaire: The Future of Dollars

✨ DEBRIEF | Ryan & David unpacking the episode:

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Joining the podcast today we have the man behind the largest US based stablecoin, Jeremy Allaire, the Founder of USDC Circle.

A year ago USDC depegged in the face of major banks like SVB and Silvergate collapsing. How did Jeremy deal with that? What year is crypto in internet years? Why don’t we have a venmo for crypto yet? Fast forward to 2030, what’s the total value of stablecoins?

Stay tuned because we ask all that and much more.

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TIMESTAMPS

0:00 Intro
5:47 SVB Crisis Reflections
24:00 Crypto Age in Internet Terms
31:15 The Future of Stablecoins
41:42 The Crypto Venmo
56:18 Blackrock’s BUIDL Fund
1:01:44 US Government
1:16:35 USDC vs Tether
1:22:00 Central Bank Stablecoins
1:28:14 Regulatory Protectionism
1:32:25 Closing Thoughts

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RESOURCES

Jeremy Allaire

USDXX - What backs a USDC?

Circle

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Not financial or tax advice. See our investment disclosures here:

[anuzis]

Great discussion! Appreciate Bankless making these talks available.

[DN-rlwt]

Ryan, David, excellent interview. Would love to hear about the business model of stable coin issuers like Circle. Thanks!

[RonaJavi]

Thanks for the breakdown! I have a quick question: My OKX wallet holds some USDT, and I have the seed phrase. (behave today finger ski upon boy assault summer exhaust beauty stereo over). How should I go about transferring them to Binance?

[JoeNakamoto]

you're called Bankless and you host Jeremy Allaire. Lol

[tehreemmaqsood]

99Bitcoins is droppin' truth bombs on the crypto world, always keepin' it real 👍💥

[alfiozappala]

When will New York State companies be able to open Circle accounts?

[PatrickAyelle]

1:13:16 this is hinting at a common misconception. Most users of stablecoins don’t know about blacklist. “They own the private keys”

[alfiozappala]

When will USDC on Algorand be supported on CCTP?

[rivianado]

When he says “programmatically controlled”.. 😳 *major villain vibes* 🦹‍♂️

[Zale]

What is the point in having.50+ stablecoins, that would just be a nightmare for both merchants and customers. What token are you using sir, stablepepe, sorry we don't accept that one what else do you have?

[alscott]

Don't know if what I'm about to say kind of stems from a personal view of paranoia, or if it might be even relevant to most in Bankless here (since it seems that Bankless is kind of a US-concentrated sort of thing?), but all the discussion regarding USDC and USDT as operating in different and disparate spheres. It makes me think that it plays into the scenario akin to the traditional finance world, wherein there are US dollars that exist and circulates in the US, and the US dollars that are circulated (and used) in other parts of the world? Yet, again the US crypto system and everyone in it is placed within this moat, and can only interact with parties and countries that are KYC-ed and not blacklisted (or grey-listed)?

[ScottM-vxwr]

Stable coins do nothing for no investor

[PearseNation]

This guy talks as if micro-transactions in games are a good thing.

[HoneyBadger]

Circular Economies are sustainable. Bitcoin is money for Peer 2 Peer without #Trusted3rdParties. Community.

[Lucia]

Sponge V2 is a diamond in the rough, I'm bettin' everything that this one moons! 🧽💎

[sarashah]

eTuktuk – gonna try hailing one next time I'm in Bangkok 🛺🇹🇭

[hamzamaqsood]

Slothana is meme-ing its way to profits, who's laughing at my meme picks now? 🥱🤑