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I normally don’t write about cryptocurrency in Bits about Money. It gets far too many column inches relative to its actual importance in the world, which is minimal compared to other financial infrastructure. I prefer writing about that extremely undercovered topic. But, much like Matt Levine feels professionally obligated to keep up with Elon Musk drama, I can’t avoid writing about stablecoins after the May 2022 collapse of Terra (UST).
There are a few different mechanisms underpinning commonly used stablecoins. Some of them may not perish in a fire.
We are not affiliated with Patrick McKenzie. This unofficial audio edition is available to listen to and share for free. Read the original on Bits about Money.
Duration
~20 minutes (19K characters)
Release date
May 20, 2022