Stablecoins are getting a hard look from regulators as the wave of crypto bankruptcies rolls on.
Binance is the largest crypto exchange in the world.
Photographer: Gabby Jones/BloombergStacy-Marie Ishmael
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recent column about the great crypto crackdown, Bloomberg columnist Matt Levine wrote: "At some emotional level the debate is “we need to stop fraudsters” versus “we need to allow for innovation,” and the fraud/innovation balance has shifted a lot in recent months."
Over the past few months, regulators have watched crypto company after crypto company file for bankruptcy. Some of the founders have become fugitives from the law, while others have been arrested for allegedly breaking laws. Some customers have lost a lot of money, and the prospects for recovery are, in certain cases, bleak.
After months on the sidelines, regulators have now to fight back. In this episode, we take a look at what’s happening with stablecoins – the crypto tokens that are supposed to hold their value, and that are typically backed by some real-world financial asset like the US dollar or US treasuries.
Binance is the largest crypto exchange in the world, by any measure. And it’s been particularly affected by some of these regulatory moves. So, what’s at stake for BINANCE and what could all of this mean for the industry? Bloomberg reporter joins to discuss.
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This podcast is produced by the Bloomberg Crypto Podcast team: Supervising Producer: Vicki Vergolina, Senior Producer: Janet Babin, Producers: Sharon Beriro and Muhammad Farouk, Associate Producers: Mo Andam and Ty Butler. Sound Design/Engineer: Desta Wondirad.
