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212 - Tether CEO on Their $100B Stablecoin ($USDT)

Bankless

Release Date: 03/04/2024

Why ConsenSys is Suing the SEC | Joseph Lubin & Matt Corva show art Why ConsenSys is Suing the SEC | Joseph Lubin & Matt Corva

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“The U.S. is trying to disconnect from Ethereum," that’s what Joe Lubin the CEO of Consensys said in today’s conversation. He was talking about those in power trying to unplug Ethereum from the citizens. The SEC is going after Kraken, Coinbase, Uniswap and Metamask. They’re trying to turn every non-custodial wallet into a broker-dealer. We brought on Joe Lubin, a crypto OG and CEO of Consensys the company behind a number of massive crypto projects including the popular Metamask wallet, and Matt Corva, the General Counsel at Consensys, leading the charge against the SEC  Joe and...

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$EIGEN Token Announcement With Sreeram Kannan and Robert Drost show art $EIGEN Token Announcement With Sreeram Kannan and Robert Drost

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Eigenlayer token details are here! Don’t call it an Airdrop - This is a Stakedrop — because that’s the only thing you can do with your EIGEN tokens out of the gate.  15% of the total Supply of Eigen distributed over multiple Seasons, Season 1 starts today with 5% of the supply, and one of the most sophisticated set of smart contracts on Mainnet. EIGEN is not your typical ERC20 token. It’s got this feature called “Intersubjective Forking” that increases the scope of what Eigenlayer can provide security for.  In addition to the token details getting released, we’re also...

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$3 Trillion in Stablecoins by 2030 | Jeremy Allaire, USDC Founder show art $3 Trillion in Stablecoins by 2030 | Jeremy Allaire, USDC Founder

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✨ DEBRIEF | Ryan & David unpacking the episode:   ------ 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. ------ 📣 SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24    ------ BANKLESS...

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ROLLUP: CZ to Jail? | Consensys sues SEC | IRS vs. Crypto | USDT in Telegram show art ROLLUP: CZ to Jail? | Consensys sues SEC | IRS vs. Crypto | USDT in Telegram

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Bankless Friday Weekly Rollup Last Week Of April ------ 🔐 SAFE | USE SAFE, GET REWARDED. CHECK OUT SAFE PASS   ------ BANKLESS SPONSOR TOOLS: 🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE     ⁠   🔗CELO | CEL2 COMING SOON   ⚖️ARBITRUM | SCALING ETHEREUM ⁠https://bankless.cc/Arbitrum  🔐 SAFE | USE SAFE, GET REWARDED   🛞MANTLE | MODULAR LAYER 2 NETWORK   🗣️TOKU | CRYPTO EMPLOYMENT SOLUTION   🏙️ CONSENSUS | SAVE 20% WITH CODE BANKLESS   ------ TIMESTAMPS & RESOURCES 0:00 Intro 4:19 Markets - Thanks Kraken 5:39...

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Tech Acceleration vs Deceleration: e/acc vs. d/acc debate | Erik Torenberg & Haseeb Qureshi show art Tech Acceleration vs Deceleration: e/acc vs. d/acc debate | Erik Torenberg & Haseeb Qureshi

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Erik Torenburg and Haseeb Quereshi join us for today's debate. Should we accelerate or decelerate our tech progress? How about when it comes to something as powerful as AI? This is not just a debate in tech circles - this is a political debate that poised to define the next decade.  We’ve had leaders from both sides of the debate on the podcast - episodes with Elizer Yudkowski and Beff Jezos. You’ve heard what they think. Today’s episode is a discussion and at times a debate on these opinions to help you think through where you stand on this issue - Haseeb Quereshi tends toward...

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Anthony Pompliano: Bitcoin, Portfolio for 2024, Institutional Adoption & Crypto Tribalism show art Anthony Pompliano: Bitcoin, Portfolio for 2024, Institutional Adoption & Crypto Tribalism

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✨ DEBRIEF | Ryan & David unpacking the episode:   ------ Bankless Nation, we’ve finally got him… Anthony Pompliano is on the show. Pomp is an investor and media personality, best known to the crypto community for his relentless bitcoin evangelism. Expect to learn about the Bitcoin Halving, the state of BTC EwTFs, the consequential institutional adoption and crypto tribalism. We wrap up the episode with a quick lightning round with Pomp and a peek into his 2024 investment portfolio. ------ 📣 SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24    ------ BANKLESS SPONSOR...

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ROLLUP: BTC Halving is Here! | Worldcoin's New Chain | China ETF Approvals | Solana Chain Upgrades show art ROLLUP: BTC Halving is Here! | Worldcoin's New Chain | China ETF Approvals | Solana Chain Upgrades

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Bankless Friday Weekly Rollup 3rd Week Of April ------ 🔐 SAFE | BUILD WITH THE SAFE SMART ACCOUNT   ------ 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24    ------ BANKLESS SPONSOR TOOLS: 🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE     ⁠   🔗CELO | CEL2 COMING SOON   🔐 SAFE | ATTEND SAFE{CON}   ⚖️ ARBITRUM | SCALING ETHEREUM ⁠   🛞MANTLE | MODULAR LAYER 2 NETWORK   🗣️TOKU | CRYPTO EMPLOYMENT SOLUTION     ------ TIMESTAMPS 00:00:00 Intro 00:03:37 Bitcoin Halving   00:07:23 Bitcoin Runes  ...

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Runes: Tokens on Bitcoin | Casey Rodamor show art Runes: Tokens on Bitcoin | Casey Rodamor

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Today’s episode is about exploring the frontier of tokens on Bitcoin with guest Casey Rodarmor. Casey is the creator of the Ordinals Protocol, a harmless protocol that simply allowed for arbitrary data to be inscribed into individual Bitcoin UTXOs, creating what are called Bitcoin NFTs. He is now also the creators of Runes, a second protocol, working to bring fungible tokens to Bitcoin.  Bitcoin is changing and Casey appears to be one of main reasons for the change. Soon he’ll be unveiling a new protocol standard for Bitcoin - called Runes, which wants to be a bitcoin-native version...

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The Unified Architecture of Ethereum | DH + RSA show art The Unified Architecture of Ethereum | DH + RSA

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Welcome back to Bankless Takes! On the show today we walk through David’s recent article on the unified architecture theory for Ethereum.  Where does Ethereum stand in a world of many chains? How does ethereum compare to Bitcoin, Solana, Celestia, and many others are fighting for users in the space. The comparisons and top competitors might surprise you. ------ 📣SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24    ------ BANKLESS SPONSOR TOOLS: 🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE     ⁠  🔗CELO | CEL2 COMING SOON   🔐 SAFE | ATTEND SAFE{CON}...

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Is $TIA Modular Money? | Nick White show art Is $TIA Modular Money? | Nick White

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In today's episode, David delves into the interesting dynamics between Ethereum and Celestia. While Ethereum and Solana are often seen as the main rivals, Celestia shares similar design philosophies and goals but with notable differences. Is it Ethereum's true competitor? Joining us to help answer that question and much more is Nick White, COO of Celestia Labs. ------ 📣 SPOTIFY PREMIUM RSS FEED | USE CODE: SPOTIFY24     ------ BANKLESS SPONSOR TOOLS: 🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE     ⁠   🔗CELO | CEL2 COMING SOON   🔐 SAFE | ATTEND...

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More Episodes

Paolo Ardoino is the CEO of Tether, the $100 Billion stablecoin company that owns more U.S. Treasuries than most countries.

We explore why Tether is winning, how it’s helping people in emerging markets and what really backs a $USDT. We also cover the state of the stablecoin regulation and even market competitors.

Tether has been and it’s still a target of Fud in the Crypto industry. Paolo is here to refute that Fud and much more.

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BANKLESS SPONSOR TOOLS:

🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE
https://k.xyz/bankless-pod-q2    ⁠ 

🔗CELO | CEL2 COMING SOON
https://bankless.cc/Celo   

🗣️TOKU | CRYPTO EMPLOYMENT SOLUTION
https://bankless.cc/toku   

🛞MANTLE | MODULAR LAYER 2 NETWORK
https://bankless.cc/Mantle   

⚖️ARBITRUM | SCALING ETHEREUM
⁠https://bankless.cc/Arbitrum  

🦄 UNISWAP | SWAP SMARTER
https://bankless.cc/uniswap 

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TIMESTAMPS

00:00 Intro
6:52 Paolo Background
11:01 The History of Tether
15:40 USDT in Emerging Markets
25:30 Why not Bitcoin?
28:25 What’s Backing Tether?
42:25 Banking Risks
54:59 Tether Reserves Breakdown
59:39 Becoming Too Big
1:06:23 The Stablecoin Wars
1:11:18 Freezing Funds
1:13:45 USDT Competitors
1:16:59 Tokenized T-Bills
1:19:55 Tether on Tron
1:24:53 Regulation
1:26:14 The Value of Tether
1:29:10 Closing & Disclaimers


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RESOURCES

Paolo Ardoino
https://twitter.com/paoloardoino 

Tether Transparency Reports
https://tether.to/en/transparency/#reports  

Circle’s Caroline Hill on Congress
https://twitter.com/Pledditor/status/1758243599446089799  

JPMorgan negative on Tether
https://www.theblock.co/post/275643/jpmorgan-tether-negative-crypto  

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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.

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