Crypto bloodbath: the stablecoin fallout
Looks like it was a close one for the Delta-One coins like Ethena’s USDe.
Presented without (much) comment: Slowly, then suddenly, edition
Odds and ends we’ve spotted throughout the week.
The Weekly Peg: Delta-one strategies are all go
Plus, Hyperliquid’s Jeff Yan argues perps are superior instruments. Meanwhile, tokenized deposits dealing in stablecoins are coming to Japan.
Stablecoins as stablization programs for the West
The Genius Act is about more than separating credit functions from payment float. It’s a form of forward guidance that says, ‘You can trust us, because we have an intent to peg. ‘
The Weekly Peg (3/3): Jack Ma says ‘I told you so’
The fight over whether stablecoins should hold all assets in unremunerated reserves at the BoE heats up. Plus, SWFs are getting into stablecoins.
The Weekly Peg (2/3): Let a thousand stablecoins bloom
The stablecoin duopoly era is coming to an end. Plus, Delta One makes an appearance.
The Weekly Peg (1/3): Singapore hangover
Here’s our rundown of last week’s Token 2049 gathering in Singapore.
Why ‘perps’ could be the next big thing after stablecoins
As perpetual futures edge into the mainstream, they stand to reshape dollar funding markets in unexpected ways.
The Weekly Peg: Gearing up for Token2049
Industry news: Flow news: Ethereum saw a massive $1.6B inflow into its stablecoin supply, more than all other chains combined. Commentators argued this should reinforce Ethereum’s role as the backbone of on-chain finance — though some pointed out that velocity, not just supply, is the more telling metric of real adoption. — Tether is seeking […]
Presented without (much) comment
A collection of interesting blind spotty stuff from the week. Who owns U.S. debt? Aka: how QE killed the UST carry-trade for foreigners (and correspondent banking in the global south with it). The Blind Spot is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber. From […]