In an AI Agent World, Do Money Markets Win Over Stablecoins? - Bits + Bips
USDC became Hyperliquid's stablecoin infrastructure, and the 30-year broke 5% for the first time since 2008. Austin, Ram, Chris, and Gordon Liao of Circle work through who wins.
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Coinbase and Circle have moved into Hyperliquid, installing USDC as its aligned quote asset and taking over treasury and technical deployment. For Gordon Liao, Circle's Chief Economist and Head of Research, that is a liquidity supernova. For Chris Perkins, it is the moment every TVL-trapping platform was always going to arrive at.
Meanwhile, the CLARITY Act has cleared the Senate Banking Committee on a bipartisan vote, but the ethics question — whether Democrats will vote for a bill that leaves Trump's family holdings untouched — remains unresolved.
And as Kevin Warsh is confirmed as Fed chair, the 30-year yield breaks 5% for the first time since 2008.
Hosts:
Austin Campbell (@austincampbell) — Founder, Zero Knowledge Consulting; Adjunct Professor, NYU Stern
Ram Ahluwalia, Co-Host, CEO of Lumida
Chris Perkins, Co-Host, CEO of 250 Digital Asset Management
Guest:
Gordon Liao | Master of Coin, Circle
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The Agentic Economy: How AI Agents Will Transform the Financial System with Circle Co-Founder and CEO Jeremy Allaire
AI agents can already collaborate, but they lack a trustworthy medium in which to store value and execute contracts. Enter Circle’s Arc Blockchain, an economic “operating system” designed for a world where machines drive the real economy. Circle co-founder and CEO Jeremy Allaire joins Elad Gil to dive into the future of programmable money and the agentic economy. Jeremy explains why traditional banking fails to support the needs of AI agents, and how stablecoins like USDC facilitate an internet-native economy. They also discuss the tokenization of real-world assets, the move toward full-reserve banking, and Jeremy’s predictions for double-digit GDP growth as AI and blockchain reach their “broadband moment.”
Sign up for new podcasts every week. Email feedback to show@no-priors.com
Follow us on Twitter: @NoPriorsPod | @Saranormous | @EladGil | @jerallaire | @circle
Chapters:
00:00 – Cold Open
00:05 – Jeremy Allaire Introduction
00:21 – Origin Story of Circle
02:11 – Rethinking the Financial System
05:26 – The Role of Stablecoins
09:52 – Use Cases for USDC
11:30 – Programmable Money
12:25 – Blockchain as Operating System
14:37 – The Agentic Economy
17:45 – Arc Blockchain Use Cases
27:00 – Scaling Models and Privacy Tech
30:45 – Securitization of Other Assets Under the Blockchain
34:16 – Prediction Markets
35:09 – Incremental Revenue Through GPU Usage
37:19 – Jeremy’s 10 Year Future Vision
41:12 – AI and GDP
44:00 – Conclusion
Rebuilding Global Payments with Stablecoins | Circle & USDC with Nikhil Chandhok
Stablecoins have quietly become the most successful use case in crypto.In this episode, Nikhil Chandhok, Chief Product & Technology Officer at Circle, explains why USDC is more than a digital dollar — it’s a global financial network.We discuss economic inclusion, internet-scale finance, programmable payments, emerging markets, AI-driven payments, and why stablecoins are becoming the backbone of global money movement.
The Safest Dollar on the Internet | Circle CEO Jeremy Allaire
USDC closed the gap between software and law in modern finance.
On Grit, Jeremy Allaire discusses how fully reserved, dollar backed digital currency became part of the financial system after more than a decade of work.
He also shares why for him grit is about sustaining belief through deep uncertainty, even when Circle faced the threat of bankruptcy in 2019.
Guest: Jeremy Allaire, Co-Founder, Chairman and CEO at Circle
Connect with Jeremy Allaire
X: https://x.com/jerallaire
LinkedIn: https://www.linkedin.com/in/jeremyallaire/
Connect with Joubin
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LinkedIn: https://www.linkedin.com/in/joubin-mirzadegan-66186854/
Email: grit@kleinerperkins.com
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The Future of Everything: What CEOs of Circle, CrowdStrike & More See Coming in 2026
(0:00) Intro
(0:50) Circle CEO Jeremy Allaire on stablecoins post-GENIUS Act, interest rate impact, growth in 2026, and the future of money in an AI world
(52:33) CrowdStrike CEO George Kurtz on cybersecurity in the AI era, most capable hacker nations, and more
(1:17:53) Archer CEO Adam Goldstein on the state of eVTOLs in 2026 and when to expect them
(1:42:27) Crusoe CEO Chase Lochmiller on powering the trillion-dollar AI buildout
On Public, you can invest in stocks, options, bonds, and crypto. Plus, build your own custom index with AI. Get started at https://public.com— investing for those who take it seriously.
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The Chopping Block: Stablecoin-as-a-Service: The Next Big Crypto Gold Rush? - Ep. 906
Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner chop it up about the latest in crypto. This week, we’re joined by Gordon Liao, Chief Economist at Circle, to dissect the Stablecoin Wars. From Circle’s Arc and Stripe + Paradigm’s Tempo, to Solana’s native stablecoin push and Hyperliquid’s deal, we unpack why everyone suddenly wants their own chain or branded stablecoin. Is this the future of crypto’s monetary layer — or just a fragmentation nightmare? We dig into FX use cases, PMF for stablecoins, collective bargaining power of ecosystems, and whether “stablecoin-as-a-service” is the next killer primitive or a liquidity trap.
Show highlights
🔹 Arc vs. Tempo — Circle’s Arc and Stripe + Paradigm’s Tempo: stablecoin-native L1s with permissioned validator sets, stablecoin gas, privacy, and FX engines.
🔹 Will FX Ever Matter? — Gordon: $9T/day FX market is broken; onchain FX could slash costs. Tarun + Haseeb question whether non-USD stables will ever get real traction.
🔹 Solana’s Stablecoin Gambit — Mert & Solana cabal eyeing a native stable to “stop giving Circle all the yield” — can a chain coordinate its way to PMF?
🔹 Collective Bargaining Meta — Hyperliquid deal proves apps/chains can extract economics from issuers; could ecosystems unionize to demand rev share?
🔹 Money Velocity Problem — BUSD worked (until it was banned); Huobi’s KUSD died for lack of velocity; most native stables never circulate beyond mints/redemptions.
🔹 Stablecoin-as-a-Service Gold Rush — Everyone launching a wrapped stable: M^0, Paxos, Agora. Does this dilute liquidity and trust — or unlock new UX?
🔹 Trust & Brand Moat — Users can’t be forced to convert; Circle’s scale, bank rails, and liquidity network remain hard to replicate.
🔹 Network Effects ≠ Monopoly — Stablecoin market evolved into USDC/Tether duopoly with niche players (Athena); future may see more vertical-specific winners.
🔹 Reg + Yield Outlook — GENIUS Act may ban interest payments; as rates fall, mint/redeem fees may replace reserve yield as the main revenue source.
🔹 Stablecoin Future — Will Solana, Tempo, Arc, and others fragment liquidity — or finally bring the next billion users on-chain?
Hosts
⭐️Haseeb Qureshi, Managing Partner at Dragonfly
⭐️Tarun Chitra, Managing Partner at Robot Ventures
⭐️Tom Schmidt, General Partner at Dragonfly
Guest
⭐️Gordon Liao, Chief Economist & Head of Research at Circle
Disclosures
Timestamps
00:00 Intro
00:52 Gordon Liao from Circle
01:48 Stablecoin Chains: Arc vs. Tempo
04:40 Memory Lane with Libra
06:33 Will FX Ever Matter for Stablecoins?
12:06 Challenges with Stablecoin Adoption
23:12 Circle’s Strategy & Competitors
26:13 Stablecoin Negotiations & Ecosystem Dynamics
31:39 Launching a Global Scale Stablecoin
37:25 Role of Trust & Branding
41:25 Stablecoin as a Service
57:53 The Future of Stablecoins
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Circle's CEO on the Booming Business of Stablecoins
Stablecoins are emerging as one of the most active areas of cryptocurrencies. The idea of using blockchain rails to transmit money has captured the attention of legacy financial institutions as well as policymakers, as evidenced by the recent passage of the GENIUS Act, which builds out a regulatory framework for that business. But what are the opportunities. And how do stablecoin providers actually make money? On this episode, we speak with Jeremy Allaire, the co-founder and CEO of Circle, which is the company that backs USDC, the second biggest stablecoin on the market. We discuss the company's business model, concerns about financial stability, and the prospects for stablecoins to open up entirely new avenues of payments and commerce.
Read more:
Trump Crypto Group Offers Proposals to Boost Digital Finance
FIS Partners With Circle to Offer Bank Stablecoin Payments
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The U.S. Finally Has Stablecoin Legislation. Can Crypto Compete With Banks? - Ep. 871
After years of hostility toward crypto, the U.S. passed its first-ever federal law regarding the industry.
The GENIUS Act, stablecoin legislation backed by both parties, was signed by President Trump’s desk after a last-minute showdown in Congress. Despite being seen as a sure thing, the bill’s path turned turbulent this week, with objections from Democrats over Trump’s crypto ties, and a sudden revolt from the Freedom Caucus around anti-CBDC language.
Now that it’s through, what will this law actually do? And who stands to benefit—or lose?
In this episode, Dante Disparte, Circle’s chief strategy officer and one of the key players behind the legislation, joins Unchained to explain:
How the bill won bipartisan support despite political tensions
Why banks may think twice before issuing stablecoins
And why Circle is applying for a national trust bank charter
Plus, the battle over interest-bearing stablecoins, how this bill fits into the broader financial regulatory landscape, and whether U.S. consumers and the dollar come out ahead.
Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com
Xapo Bank
FalconX
Dante Disparte, Chief Strategy Officer and Head of Global Policy and Operations at Circle
Unchained:
GENIUS Act Passes: Who Are the Winners, Losers, and What Comes Next?
House Passes Landmark Crypto Legislation: GENIUS Act and Digital Asset Bills
Circle Seeks U.S. Banking License to Directly Custody Billions in USDC Reserves
Fortune: JPMorgan Chase’s new fees for data could ‘cripple’ crypto and fintech startups, executives warn
Reuters: Some big US banks plan to launch stablecoins, expecting crypto-friendly regulations
Timestamps:
🎬0:00 Intro
🇺🇸 2:23 Why Dante says this “crypto week” went better than anyone expected
🤝 3:44 How the GENIUS Act won bipartisan support despite major political friction
📜 6:10 Why Dante believes the bill is bigger than just crypto
🏦 9:02 How Circle plans to compete with the banking giants
🪪 15:22 What Circle hopes to achieve with its national trust bank application
🔐 18:28 Why financial privacy matters so much in the U.S. system
💵 19:34 How deposit tokens differ from stablecoins
📈 22:34 What Circle might do when interest-bearing stablecoins are finally allowed
👛 27:43 How this new law could impact everyday Americans and their money
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How to Build in Crypto: Lessons from 8 Leading Founders | Jesse Pollack, Jeremy Allaire, Anatoly Yakovenko & More
Do you think you’ve got what it takes to become a founder in crypto?
On the show today we’ve got 8 of crypto’s most famous and successful builders in crypto, each with about 15 minutes in time, giving you the wisdom they gained founding their own companies.
We’re joined by Jesse Pollack from Base, Jeremy Allaire from Circle, Anatoly from Solana, Stani from Aave, Kain from Synthetix, Mike & Jason from Blockworks, Kevin Owocki from Gitcoin and Lucas from Jito. Each one with their own perspectives, their own scars and hopefully by listening to this episode, you, the listener, can learn from their experiences to gain the confidence you need to venture into this world.
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------ ✨ Mint the episode on Zora ✨ https://zora.co/collect/base:0x4be6cd4d402fed49eb2de95fbc8e737e8ffd3e7f/8?referrer=0x077Fe9e96Aa9b20Bd36F1C6290f54F8717C5674E
------ TIMESTAMPS
0:00 Intro 2:52 Jesse Pollack - Base 15:45 Jeremy Allaire - Circle 34:53 Anatoly Yakovenko - Solana 51:00 Stani Kulechove - Aave 1:07:48 Kain Warwick - Synthetix 1:27:06 Mike & Yano - Blockworks 1:44:16 Kevin Owocki - Gitcoin 1:59:19 Lucas Bruder - Jito
------ RESOURCES
Jesse Pollack - Base https://x.com/jessepollak
Jeremy Allaire - Circle https://x.com/jerallaire
Anatoly Yakovenko - Solana https://x.com/aeyakovenko
Stani Kulechove - Aave https://x.com/StaniKulechov
Kain Warwick - Synthetix https://x.com/kaiynne
Jason Yanowitz - Blockworks https://x.com/jasonyanowitz
Mike Ippolito - Blockworks https://x.com/MikeIppolito_
Kevin Owocki - Gitcoin https://x.com/owocki
Onchain Capital Allocation Handbook https://allobook.gitcoin.co/
Lucas Bruder - Jito https://www.linkedin.com/in/lucasbruder/
------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures
The Rise of Stablecoins with Circle’s Jeremy Allaire | E2004
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Todays show:
Circle’s Jeremy Allaire joins Alex Wilhelm to discuss the growth of stablecoins (49:06), stablecoin market infrastructure (22:23), their impact on global financial systems (56:07), and more!
*
Timestamps:
(0:00) Circle’s Jeremy Allaire joins Alex Wilhelm
(2:08) Jeremy's early career and the evolution of the internet
(5:28) Transition from Macromedia to Circle's founding
(12:10) LinkedIn Jobs - Go to https://www.linkedin.com/twist to post your first job for free.
(13:21) Bitcoin, stablecoins, and Circle's compliance
(20:53) Google Cloud - Get up to $200K in Google Cloud credits – or up to $350K for AI startups – plus training and guidance. Apply at https://startups.google.com/twist
(22:23) The current state and future of stablecoin market infrastructure
(28:07) Integrating stablecoins with traditional finance
(34:12) Beehiiv - Get 30 days free and 20% off your first 3 months at https://www.beehiiv.com/twist
(35:40) Stablecoins' impact on global financial systems
(41:30) Circle's business model, scalability, and blockchain potential
(49:06) Growth of USDC and other currency stablecoins
(51:10) USDC market cap trends and interest rates
(56:07) Stablecoins in the global financial system and US regulation
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LinkedIn: https://www.linkedin.com/in/alexwilhelm
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Why the Dollar's Stablecoin Update is Inevitable | Jeremy Allaire, Circle
In this episode, Jeremy Allaire, CEO of Circle, discusses the future of money. He explains how stablecoins are transforming global finance by increasing the velocity of money transfers and reducing friction in transactions. Allaire shares insights on the regulatory landscape for cryptocurrencies, Circle's journey to become a publicly traded company, and his vision for a more efficient and accessible financial system. Thanks for tuning in!
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Start your day with crypto news, analysis and data from Katherine Ross and David Canellis.
Subscribe to the Empire newsletter: https://blockworks.co/newsletter/empire?utm_source=podcasts
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Anoma is the universal intent machine, introducing a new era of applications where you define the outcomes you want. Anoma’s intent-centric architecture provides a universal operating system for building intent-centric apps compatible with any blockchain. Anoma vastly improves blockchain UX, enables novel applications, and promotes a more human-centric future for decentralized technology.
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re.al is the permissionless L2 for tokenized RWAs built on Arbitrum Orbit and the first L2 to return chain and protocol fees back to users, in reETH, ensuring they benefit from ecosystem growth. re.al has just launched a fully-transparent rewards (points) program returning 10% of $RWA supply to early users.
Not investment advice or product solicitation and not aimed at US persons. https://re.al/rewards/airdrop/O4UNU
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Renaud Partners has built the most elite network of native crypto marketers globally.
They create custom, expert teams to support founders with transformative strategy work.
If you’re a founder or a VC looking for support for your teams, head on over to RenaudPartners.com or give their co-founder Geoff a follow on x at https://x.com/ReoffGenaud
- -
Timestamps:
(01:53) The US Dollar Architecture
(17:24) Regulatory Efforts for Stablecoin Money
(21:41) Transitioning Money to Stablecoins
(28:59) CBDC Endgame
(51:36) Anoma ad
(52:38) Re.al Ad
(53:37) Invisible North Ad
(54:34) Impact of Transparency in Financial Systems
(58:18) Value of Decentralized Systems
(01:02:11) Impact of Interest Rates
(01:07:19) Stablecoin Innovation
- -
Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.
$3 Trillion in Stablecoins by 2030 | Jeremy Allaire, USDC Founder
✨ DEBRIEF | Ryan & David unpacking the episode: https://www.bankless.com/debrief-the-jeremy-allaire-interview
------ 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
------ RESOURCES
Jeremy Allaire https://twitter.com/jerallaire
USDXX - What backs a USDC? https://www.blackrock.com/cash/en-us/products/329365/circle-reserve-fund
Circle https://www.circle.com/en/
------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures
Consultative Selling SaaS: 1,500 Demos to $19M ARR
Andrew Guttormsen did over 1,500 one-on-one demos in 18 months - consultative selling SaaS the hard way. That personal touch turned Circle into a $19M ARR business. A single JV webinar with anchor customers like Pat Flynn drove 300 new customers in one push.
Learn how consultative selling SaaS through founder-led demos built unstoppable word of mouth, why anchor customers accelerated the SaaS sales process, and how expansion pricing doubled ARR.
🔑 Key Lessons
🤝 Consultative selling SaaS builds unbeatable word of mouth: Andrew did 1,500 personal founder-led demos at Circle, creating deep connections that turned customers into vocal advocates across Twitter.
🎯 Anchor customers accelerate consultative selling SaaS pipelines: Circle made Pat Flynn an advisor, built with his input, and used one JV webinar to land 300 customers.
⚡ Gated waitlists create pent-up demand for consultative selling SaaS launch: Circle ran a six-month private beta with manual qualification, building demand that fueled zero to $1M ARR in four months.
🚀 Product-led growth loops compound alongside a consultative selling SaaS process: Every Circle community exposes members to the platform, turning end users into potential customers organically.
💰 Expansion pricing unlocks net revenue retention: Circle added a $30K/year branded app tier targeting the same creators at a later growth stage, helping double ARR from $8M to $16M.
Chapters
Introduction
Andrew's background and what Circle does
Leaving Teachable and starting Circle during COVID
Raising a $700K seed round and $4M seed extension
Validating the idea with creators they already knew
Zero to $1M ARR in four months after public launch
Using Twitter threads to drive waitlist signups
Why 1,500 personal demos created unstoppable word of mouth
Landing anchor customers like Pat Flynn
How one JV webinar drove 300 customers
When influential customers have bad experiences
Dealing with public criticism as a punch in the gut
Growth beyond $1M: weekly revenue meetings and forecasting
Building a SaaS sales process with no sales experience
Doubling ARR from $8M to $19M with pricing and packaging
Moving up-market with a $30K/year branded app tier
Lightning round
Resources
Full show notes: https://saasclub.io/393
Join 5,000+ SaaS founders: https://saasclub.io/email
Immigrant to $250M CEO: How Circle Powers the Creator Economy with Co-founder and CEO Sid Yadav
Sid Yadav is the Co-founder and CEO of Circle, the all-in-one community platform trusted by creators like Tiago Forte, David Perell, and Miles Snider. Sid started the tech blog Rev2 when he was a teenager in New Zealand, writing about the launch of YouTube and the iPhone. He was the founding engineer and designer of Teachable, which he helped scale to +25m+ in ARR before it was acquired in 2020. He started Circle in 2019 with co-founders Rudy Santino and Andrew Guttormsen, which they scaled to $16m in ARR by December of 2023.
Circle has since raised $31m from Investors like Tiger Global, Notation Capital, Bungalow, Todd Goldberg, Rahul Vohra, Scott Belsky, Josh Buckley, Ankur Nagpal, Wade Foster, and Dharmesh Shah.
Sid immigrated with his family from India to New Zealand as a teenager and to the US after college. His story is a perfect encapsulation of the American Dream, and I’m excited to share this conversation.
— — — —
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Topics discussed include:
(03:53) Why the creator economy is booming despite negative sentiment
(13:22) Writing a popular tech blog as a teen in the mid 00’s
(23:16) Joining Teachable as the 2nd employee
(40:30) Why Teachable CEO Ankur Nagpal invested 90% of his liquid net worth in Circle’s $1.7m Pre-seed round
(48:44) Sid’s inside view at the creator economy before, during, and after COVID
(52:50) The magic of Lenny Rachitsky’s creator flywheel
(56:10) The reason Sid raised a Seed from lots of investors instead of one large check
(01:14:30) Inside raising a Series A from Tiger Global in 2021
(01:22:19) Why Sid writes an investor update every month
(01:25:15) Going from Zero to $16m ARR in four years
(01:27:28) How Circle approaches its product roadmap
(01:29:20) Building a community around your product
(01:37:03) Advice for running a remote-first team
(01:46:54) How Sid convinced the founder of Zapier to be his CEO coach
(01:54:20) Why founders need to deal with reality
Referenced:
https://circle.so/
https://www.teachable.com
“Cost of a meeting” tweet: https://twitter.com/0xgaut/status/1620815168921038850
Tiago Forte Building a Second Brain: https://www.buildingasecondbrain.com/foundation
PARA Method: https://fortelabs.com/blog/para/
Lenny’s interview with Brian Chesky: https://www.youtube.com/watch?v=4ef0juAMqoE
Turner’s interview with Wade Foster, Co-founder and CEO of Zapier: https://youtu.be/NJMjuYt9jEc
Myles Snyder: https://mylessnider.com/
Where to find Sid:
Twitter: https://twitter.com/sidyadav
LinkedIn: https://www.linkedin.com/in/sidyadav
Where to find Turner:
Newsletter: https://www.thespl.it
Twitter: https://twitter.com/TurnerNovak
Banana Capital: https://bananacapital.vc
Jeremy Allaire on Circle's ‘Multi-Decade’ Strategy and Where Stablecoin Regulation Is Headed - Ep. 543
It’s been a busy year for USDC issuer Circle, with several new product launches and partnerships, a crypto banking crisis to contend with, the entry of PayPal into the stablecoin business, and plenty of new global regulatory developments, including a bill in the U.S. now making its way through Congress. Circle co-founder and CEO Jeremy Allaire joins Unchained for an in-depth discussion on the reasons behind Coinbase’s investment in Circle, how Circle has emerged stronger from the banking crisis, what he thinks of PYUSD, what he likes and doesn’t like about the current U.S. stablecoin bill, and his thoughts on what the final bill will look like.
Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.
Show highlights:
why Circle and Coinbase created the Center Consortium and why Coinbase acquired a stake in Circle
whether Circle is aiming to be acquired or become a public company, and why Jeremy is pursuing a "multi-decade" strategy
why Circle partnered with MercadoLibre and the stablecoin usage in Latin America [may need to cut if embargo does not stick]
how the company has been supporting developers to build applications
why Circle is launching native USDC on so many new blockchains
what the purpose of cross-chain transfer protocol (CCTP) is and what the big problems with bridges are
how Circle responded to Silicon Valley Bank’s collapse and why the world began to feel that "it's not safe to be exposed to the US"
Jeremy's thoughts on the launch of PayPal's stablecoin, PYUSD
why having stablecoin legislation is a "national priority," according to Jeremy
why Jeremy is a proponent of a fully reserved banking system
why he thinks the US needs to "aggressively" take action to preserve the global reserve currency status of the US dollar
how China’s national digital currency is likely to develop
how crypto can provide a better way of providing identity without giving up privacy
why blockchain technology is much more than just a financial regulatory matter
Thank you to our sponsors!
Crypto.com
Arbitrum Foundation
Toku
LayerZero
Guest:
Jeremy Allaire, cofounder, Chairman and CEO of Circle
Previous appearances of Jeremy on Unchained:
Crypto on Every Corner: Driving Adoption With Jeremy Allaire and Meltem Demirors
Circle’s Jeremy Allaire and Sean Neville on Why Crypto Will Be Bigger Than the Web
Jeremy Allaire on Why the US Government Needs a New Category for Digital Assets
Links
Unchained:
Coinbase Acquires Equity Stake in Circle Amid USDC Updates and Market Challenges
Will PayPal’s PYUSD Steal Market Share From Tether and Circle?
The Fall of SVB: What Happened and How It Affects Crypto
CoinDesk:
U.S. Stablecoin Bill Takes Big Step Despite Fight From Democrats, White House
Circle Seeks to Make Crypto Payments Easier With New 'Programmable Wallets'
Written Statement of Jeremy Allaire Before the United States House Committee on Financial Services, “The Future of Digital Assets: Providing Clarity for the Digital Asset Ecosystem”
South China Morning Post: Head of crypto firm Circle accepts ban in mainland China, but sees role for yuan-backed stablecoins
TechCrunch: Solana Pay integrates plug-in with Shopify for USDC payments
Decrypt: News Explorer — Circle Partners With Mercado Libre to Bring USDC to Chile
Jeremy’s comments on the launch of PYUSD
Learn more about your ad choices. Visit megaphone.fm/adchoices
The Chopping Block: Why Circle CEO Jeremy Allaire Is So Optimistic About Stablecoins' Future - Ep. 541
Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tarun Chitra, and Robert Leshner chop it up about the latest news. This week, the group sits down with Circle CEO Jeremy Allaire to discuss how the USDC stablecoin issuer responded to the banking crisis that started at the end of 2022, what PayPal’s new stablecoin offering means for Circle and the rest of the industry, and whether central bank digital currencies (CBDCs) represent real competition for stablecoins.
Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform.
Show highlights:
how the collapse of FTX and other companies led to a de-banking crisis for the industry
what the Circle Reserve Fund is
how the banking crisis in early 2023 caused a "flight from safety"
how regulatory clarity has improved in the aftermath of the banking crisis
why Jeremy actually hopes PayPal's recently launched PYUSD is successful
why Tarun believes Central Bank Digital Currencies (CBDCs) are one of the most "boring concepts" within the industry
whether CBDCs pose a threat to businesses that issue stablecoins such as Circle
Whether the status quo on stablecoins in the U.S. of knowing-your-customer on redemption and minting, but not on holding, is likely to continue.
Hosts:
Haseeb Qureshi, managing partner at Dragonfly
Robert Leshner, founder of Compound
Tarun Chitra, managing partner at Robot Ventures
Guest:
Jeremy Allaire, CEO of Circle
Disclosures
Links
The Chopping Block: Was Crypto Just Debanked?
Will PayPal's PYUSD Steal Market Share From Tether and Circle?
The Fall of SVB: What Happened and How It Affects Crypto
Learn more about your ad choices. Visit megaphone.fm/adchoices
Circle's CEO, Jeremy Allaire on USDC, SVB's Collapse, & the U.S. Banking System
Co-Founder and CEO of Circle, Jeremy Allaire, answers the question, "What's next for USDC?"
It's been a rocky week for the stablecoin. Bottoming out right around $0.88 amidst the U.S. banking crisis, it seems to have regained its peg. What happened behind the scenes? What regulation is needed according to Jeremy? And most importantly, what's next for USDC?
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----- Timestamps:
0:00 Intro 3:52 Update on the Past Week 15:44 Circle's Adapted Strategy 20:32 CBDCs 26:18 What Regulation is Needed? 29:02 Closing & Disclaimers
----- Resources:
Jeremy Allaire https://twitter.com/jerallaire
----- 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
EU Markets in Crypto-Assets (MiCA) with Seth Hertlein, Patrick Hansen, & Rebecca Rettig
In today's episode, we're talking about the state of crypto regulation across the pond. Is it as bad over there as it is here in the United States?
There is a landmark crypto bill over in the EU called MiCA (Markets in Crypto-Assets) and its worth paying attention to!
We brought on some EU regulation experts, Rebecca Rettig, Chief Policy Officer @ Polygon Labs, Seth Hertlein, VP, Global Head of Policy @ Ledger, and Patrick Hansen Director of EU Strategy and Policy @ Circle.
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EARNIFI | CLAIM YOUR UNCLAIMED AIRDROPS https://bankless.cc/earnifi
------ Timestamps:
0:00 Intro 4:45 Pond Temperature 9:30 U.S. vs. the EU Regulation 13:30 Is MiCA Passed? 15:50 Should the U.S. Be Jealous? 18:30 MiCA Grading 20:55 DCCA Grading 22:22 MiCA Stablecoins 29:35 EU Restrictions 37:36 MiCA Self-Custody 44:22 Fear Ideology 46:40 U.S. vs. EU Regulation & Innovation 51:40 Closing Thoughts 58:50 Disclaimers
------ Resources:
Seth Hertlein https://twitter.com/SethHertlein
Patrick Hansen https://twitter.com/paddi_hansen
Rebecca Rettig https://twitter.com/RebeccaRettig1
----- 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
Block and Circle are teaming up to onboard crypto's next billion users
TBD, the crypto focused arm of Jack Dorsey’s Block, is partnering with Circle, the company behind the USDC stablecoin, to unleash the power of stablecoin payments onto the next billion crypto users.
In this episode of The Scoop, Circle’s Chief Revenue Officer Kash Razzaghi and TBD’s Chief Operating Officer Emily Chiu discuss their new partnership, and explain how their companies’ synergy is going to make it easier to move value back and forth between crypto and the real world economy.
According to Chiu, the crypto industry is lacking a way to exchange crypto for real world items:
“The minute you nexus upon the real world and commerce in the real world, you need to solve these really hard problems that haven't yet been solved in the space. That's what TBDex does, and we see USDC and stablecoins as a critical bridge for facilitating these transactions.”
One of the first use-cases will be a remittance function that enables payments between the US and Mexico, a corridor that sees billions flow a year.
TBD hopes its digital identity solution will put users in control of both their identity and data as well as who they share it with. As Chiu explains, these digital identity solutions will hopefully promote global economic empowerment:
“Regardless of what identity you have, you can create a self-sovereign identity wallet regardless of who you are, there's no intermediary and you need permission from in order to start transacting and engaging with the global economy.
Episode 95 of Season 4 of The Scoop was recorded at live at Converge with The Block's Frank Chaparro, Circle's CRO Kash Razzaghi and TBD's Co-Founder & COO Emily Chiu.
Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests to podcast@theblockcrypto.com.
This episode is brought to you by our sponsor Tron
About Tron
TRON is dedicated to accelerating the decentralization of the internet via blockchain technology and decentralized applications (dApps). Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized web3 services boasting over 100 million monthly active users. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. | TRONDAO | Twitter | Discord |
How Stablecoins Became a Powerful Force in Crypto
In theory, what gets people most excited about crypto is lines going straight up. But one of the biggest successes in crypto is the rise of stablecoins. Basically, stablecoins allow people to hold dollar-linked assets directly on the blockchain. This is potentially important for P2P payments, trading, cross-exchange arbitrage and more. But by holding actual money, the big stablecoin issuers potentially have a massive amount of power in a space that's supposed to be all about decentralization. On this episode, we speak with Jeremy Allaire, the CEO of Circle, which issues the USDC stablecoin. We talked about regulation, the business model of stablecoins, and the influence he has within the broader ecosystem.
See omnystudio.com/listener for privacy information.
CBDCs are 'anti-democratic' says Circle's Dante Disparte
Circle's USDC stablecoin is the second largest by market capitalization, and has steadily grown in dominance over the last couple of years.
In this episode of The Scoop, Chief Strategy Officer and Head of Global Policy at Circle, Dante Disparte, joins host Frank Chaparro to share his take on what a responsible approach to stablecoin regulation might look like and why he believes central bank digital currencies are "anti-democratic."
According to Disparte, the separation between the central banks and citizens' pockets is important to maintain:
"The gap between the central bank, the banking system, your wallet and how you spend money is a powerful feature and not a bug."
Furthermore, Dante believes that central bank digital currencies ignore the fundamental peer-to-peer potential of digital assets:
"A central bank digital currency would be the equivalent of building a high speed train engine, but not caring about the rail network, nor the station stops. And the real powerful breakthrough of blockchain based finance is that the infrastructure has networked peer to peer station stops."
During this episode, Chaparro and Disparte also discuss:
The difference between 'risk' and 'uncertainty'
Stablecoin standards
Non-USD denominated stablecoins
Episode 72 of Season 4 of The Scoop was recorded remotely with The Block's Frank Chaparro, and Chief Strategy Officer and Head of Global Policy at Circle, Dante Disparte.
Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests to podcast@theblockcrypto.com.This episode is brought to you by our sponsors Chainalysis & IWC Schaffhausen
About Chainalysis
Chainalysis is the leading blockchain data platform. We provide data, software, services, and research to government agencies, exchanges, financial institutions, and insurance and cybersecurity companies in over 60 countries. Backed by Accel, Addition, Benchmark, Coatue, Paradigm, Ribbit, and other leading firms in venture capital, Chainalysis builds trust in blockchains to promote more financial freedom with less risk. For more information, visit www.chainalysis.com.
About IWC Schaffhausen
IWC Schaffhausen is a Swiss luxury watch manufacturer based in Schaffhausen, Switzerland. Known for its unique engineering approach to watchmaking, IWC combines the best of human craftsmanship and creativity with cutting-edge technology and processes. With collections like the Portugieser and the Pilot’s Watches, the brand covers the whole spectrum from elegant timepieces to sports watches. For more information, visit IWC.com
Circle CEO Jeremy Allaire breaks down mystery of stablecoin yield
This special bonus episode of The Scoop was recorded live at the Crypto Bahamas conference with Jeremy Allaire, CEO of Circle, the digital payments and infrastructure company behind the popular stablecoin USDC.
As data from The Block shows, USDC is the second-largest stablecoin by market capitalization, and its share of the total stablecoin supply has been steadily on the rise.
According to Allaire, a primary driver of demand for stablecoins comes from crypto native businesses:
“Basically any business that operates in the crypto economy wants to use stablecoins as working capital. Well, these are businesses that also have borrowing needs, these are businesses that want to borrow, and so you want to borrow stablecoins — so there's inherent demand to borrow in that medium of exchange.”
It is this demand for stablecoins that creates lucrative yield opportunities for stablecoin lenders in crypto, in the same way that lenders in the world of traditional finance profit from the interest on the money they lend.
As Allaire explains, stablecoin borrowers are willing to pay to borrow capital:
“Banks get 17 or 20% from consumers for lending the money for credit cards, right? So people pay an interest rate to borrow. Working capital of crypto is stablecoins, there's businesses that want to borrow it, and there you go.”
Episode 40 of Season 4 of The Scoop was recorded remotely with The Block’s Frank Chaparro and Jeremy Allaire, Co-Founder & CEO of Circle.
Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests to podcast@theblockcrypto.com.
This episode is brought to you by our sponsors Fireblocks, Coinbase Prime & Cross River
Fireblocks is an enterprise-grade platform delivering a secure infrastructure for moving, storing, and issuing digital assets. Fireblocks enables exchanges, lending desks, custodians, banks, trading desks, and hedge funds to securely scale digital asset operations through the Fireblocks Network and MPC-based Wallet Infrastructure. Fireblocks serves over 725 financial institutions, has secured the transfer of over $1.5 trillion in digital assets, and has a unique insurance policy that covers assets in storage & transit. For more information, please visit www.fireblocks.com.
About Coinbase Prime
Coinbase Prime is an integrated solution that provides institutional investors with an advanced trading platform, secure custody, and prime services to manage all their crypto assets in one place. Coinbase Prime fully integrates crypto trading and custody on a single platform, and gives clients the best all-in pricing in their network using their proprietary Smart Order Router and algorithmic execution. For more information, visit www.coinbase.com/prime.
About Cross River
Cross River is powering today’s most innovative crypto companies, with banking and payments solutions you can rely on, including fiat on/off ramp solutions. Whether you are a crypto exchange, NFT marketplace, or wallet, Cross River’s API-based, all-in-one platform enables banking as a service, ACH & wire transfers, push-to-card disbursements, real-time payments, and virtual accounts and subledgers. Request your fiat on/off ramp solution now at crossriver.com/crypto.
Peloton's Executive Shuffle, Peter Thiel's Meta Exit, and the Future of Fintech with Jeremy Allaire
Listeners tell Kara and Scott why they're not watching the Olympics, and Elon's tweets draw SEC attention (again). Also, Amazon wants five star talent, and it's willing to pay. Friend of Pivot Jeremy Allaire, CEO of Circle, drops by to discuss USDC, stablecoins, and the future of fintech.
You can find Jeremy on Twitter at @jerallaire.
Send us your Listener Mail questions by calling us at 855-51-PIVOT, or via Yappa, at nymag.com/pivot.
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Crypto Yields - The Tool To Battle Inflation | Jeremy Allaire
In this episode on Empire, Jason is joined by returning guest Jeremy Allaire. Jeremy is the CEO & Co-Founder of Circle the financial technology firm that enables access to the Stablecoin USDC. As USDC recently surpassed $40 Billion in circulation, we invited Jeremy back to discuss how USDC was created, how Stablecoins are a $120 trillion market, how crypto compares to the growth of the internet, DAOs & Jeremy's outlook for crypto.
--
Avalanche:
Thank you to Avalanche for sponsoring Empire. Avalanche is one of the best and fastest growing smart-contract platforms in the industry.
Learn more about them at https://www.avax.network/
--
ParaSwap:
If you want to make a swap at the best price across the DeFi market, check out paraswap.io.
ParaSwap’s state-of-the-art algorithm beats the market price across all major DEXs and brings you the most optimized swaps with the best prices, and lowest slippage.
Find out more about them at https://www.paraswap.io/
--
Empire is brought to you by Blockworks, a financial media brand delivering breaking news and premium insights about digital assets to millions of investors. For more content like this, subscribe to Blockworks' free daily newsletter: https://blockworks.co/newsletter/
Follow me and Santiago on Twitter, @JasonYanowitz and @santiagoroel; let us know what you thought of the show!
Circle CEO Jeremy Allaire on USDC, Tether & more + Jason reacts to Apple’s new M1 chips & MacBooks | E1307
First, Jason reacts to the most recent Apple event announcing new M1 chips & Macbooks (1:26). Then, Circle CEO Jeremy Allaire (23:85) joins to discuss how USDC, what makes Circle different from Tether, regulation, and more.
Why $USDC will become a $10 trillion stablecoin, with Jeremy Allaire
Jeremy Allaire takes us deep into the world of $USDC, stablecoins, and the future of money.
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Empire is brought to you by Blockworks, a financial media brand delivering breaking news and premium insights about digital assets to millions of investors. For more content like Empire, visit http://blockworks.co/podcasts.
Follow me on Twitter @JasonYanowitz and let me know what you thought of the show!
50 - Crypto-Dollars, Regulation, and DeFi | Jeremy Allaire
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------ 50 - Crypto-Dollars, Regulation, and DeFi
Guest: Jeremy Allaire
Jeremy Allaire is a serial entrepreneur and the Co-founder and CEO of Circle, the firm behind USDC. He advocates for the U.S. crypto industry in Washington, paving the way for current and future regulation of cryptoassets.
USDC and other stablecoins saw a massive influx throughout 2020 into Ethereum and DeFi as demand skyrocketed, providing a glimpse of possible long-term impacts on the future of money. Jeremy argues for a full-reserve money system based on Austrian Economics, moving away from the money creation inherent to today's fractional-reserve systems.
Jeremy details the synergy between fiat stablecoins and non-sovereign, store-of-value, commodity assets. He envisions a future of synthetic digital currencies balanced by a basket of non-sovereign assets. This is a vital time for instituting effective regulatory measures for cryptoassets and protocols, and as a front-line advocate, Jeremy stresses the importance of the crypto industry itself taking the initiative to front-run regulatory issues via creative innovation.
Jeremy self-describes as "cautiously optimistic" about establishing meaningful dialogue with regulators like Gary Gensler, Janet Yellen, and FinCen, focusing on specific issues like criminal abuse, self-sovereign identity, and consumer protection.
Jeremy concludes with broad market predictions and analysis of DeFi as a massively underrated space, with the long-term goal of DeFi interacting broadly with real-world identities.
This was an extremely interesting conversation that shed some much-needed light on stablecoins in a regulatory context, and Jeremy remains a key component throughout this development.
------ Resources: Jeremy Allaire on Twitter https://twitter.com/jerallaire Circle https://www.circle.com/ USDC https://www.circle.com/en/usdc Centre Consortium https://www.centre.io/
------ Don't stop at the video! Subscribe to the Bankless newsletter program http://bankless.substack.com/ Visit the official Bankless website http://banklesshq.com/ Follow Bankless on Twitter https://twitter.com/BanklessHQ Follow Ryan on Twitter https://twitter.com/ryansadams Follow David on Twitter https://twitter.com/TrustlessState
----- 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 we may add links in this channel to products we use. We may receive commission if you make a purchase through one of these links. We'll always disclose when this is the case.
Why Is the Proposed FinCEN Rule for Unhosted Wallets Being Pushed So Quickly? - Ep.204
Jeremy Allaire of Circle Pay and Kristin Smith of the Blockchain Association explain the impact of and motivation behind Treasury Secretary Steve Mnuchin’s proposed FinCEN rule that targets “unhosted” wallets. In this episode, they cover:
what the new FinCEN rule says, and how it would impact unhosted or self-hosted wallets, as well as crypto businesses
why they believe this is really politically motivated and unilateral midnight rule making by Secretary Mnuchin
what other bureaucrats and policymakers think should be done instead
whether the rule only affects businesses rather than individuals
what information will be recorded according to the rule
ways to circumvent compliance
how the rule affects DeFi and Web3
the procedural hurdles Mnuchin took to propose the rule, and what they recommend the crypto community to do try to stop the implementation of the rule
how the rule comports with European GDPR regulations
which government entities will be tasked with making the regulatory changes the space needs
why President-Elect Joe Biden’s administration may be more favorable for the space
Thank you to our sponsors!
Crypto.com: http://crypto.com
1inch: http://1inch.exchange
Episode links:
Jeremy Allaire: https://twitter.com/jerallaire
Kristin Smith: https://twitter.com/kmsmithdc
Circle: https://www.circle.com/en/
The Blockchain Association: https://theblockchainassociation.org
Stories on proposed rule:
https://www.coindesk.com/fincen-proposes-kyc-rules-for-crypto-wallets
https://www.theblockcrypto.com/post/88347/treasury-crypto-wallets-reporting-rule
Effect on DeFi: https://twitter.com/jerallaire/status/1340060806088671232?s=20
https://twitter.com/jchervinsky/status/1340050400871911424?s=20
Coin Center response: https://www.coincenter.org/a-midnight-rule-for-cryptocurrency-transaction-reports/
Brian Armstrong’s earlier tweet thread: https://twitter.com/brian_armstrong/status/1331745196887867393
Collins Belton’s tweet thread: https://twitter.com/collins_belton/status/1340051986008350721?s=20
Learn more about your ad choices. Visit megaphone.fm/adchoices
Circle's Jeremy Allaire and Sean Neville on Why Crypto Will Be Bigger Than the Web - Ep.71
Jeremy Allaire, cofounder and CEO of Circle, and Sean Neville, cofounder and president, discuss why they think the internet of value will be even bigger than the internet of information and how all assets will be tokenized. They also talk about why they're launching a stable coin, how their services in payments, exchange and investing will compete against decentralized versions of the same, and how they chose the assets for Circle Invest -- and why XRP didn't make the cut. They also address the investor presentation circulated that claimed the SEC would not pursue enforcement against Poloniex for prior activity and explain why Circle took investment from Bitmain despite negative sentiment against the mining equipment manufacturer. And they explain how Circle could compete once Wall Street incumbents begin to offer competitive services in crypto.
Thank you to our sponsors!
Clarity PR: http://clarity.pr
Preciate: https://preciate.org/recognize/
Links:
Circle.com: https://www.circle.com/en/
Circle's plans around a federal banking license and brokerage and trading registration: https://www.bloomberg.com/news/articles/2018-06-06/circle-in-talks-with-u-s-to-become-licensed-bank-trading-venue
Acquisition of Poloniex: https://blog.circle.com/2018/02/26/circle-acquires-poloniex/
XRP in a screenshot of Circle Invest, but offered after launch: https://www.coindesk.com/circle-adds-monero-crypto-investment-app/
The Circle Asset Framework: https://www.circle.com/marketing/pdfs/en/circle-asset-framework.pdf
Nathaniel Popper's tweet showing the Circle investor deck indicating the SEC won't pursue action against Poloniex: https://twitter.com/nathanielpopper/status/968202570719117313?lang=en
Circle's stable coins + Bitmain investment: https://blog.circle.com/2018/05/15/circle-announces-usd-coin-bitmain-partnership-and-new-strategic-financing/
Unchained episode on stable coins: http://unchainedpodcast.co/why-its-so-hard-to-keep-stablecoins-stable
Unchained episode with David Vorick, which includes some comments on Bitmain: http://unchainedpodcast.co/why-asics-may-be-better-than-gpus-even-if-they-tend-toward-mining-centralization-ep67
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