OM DENNE EPISODE
Behind closed doors, in Davos and DC, incumbent banks and challenger stablecoin companies are in the midst of a protracted fight. Should stablecoins be allowed to pay interest?
Trillions of dollars are at stake. Which arguments on each side actually make sense? Will allowing stablecoins to pay yield really destroy the global economy?
Omid Malekan of Columbia Business School is regarded among insiders as one of the few scholars who understands both the traditional financial system and crypto deeply. He is the ideal guest for this moment. In this conversation, we strip away the rhetoric to reveal what is really going on.
00:00 Intro
01:03 Banks Terrified of Stablecoins
03:12 Support Stablecoins, Kill Lending
13:40 Bank of America Disingenuous?
22:58 Stablecoins Do Not Reduce Deposits
30:55 The WhatsApp Bank Run
34:33 Small Banks as Human Shields
49:49 Tether vs. JPM Transparency
59:02 Wall Street's Blockchain Lie
01:01:54 Tokenized Deposits Won't Happen
01:06:15 The Hidden Paycheck Tax
Brought to you by Codex, the stablecoin foreign exchange specialist.
