Stable?

Bruce Carton
May 11, 2022

Hey, it's Bruce, coming to you from Palo Alto on Securities Enforcement Forum West Eve! Tomorrow the securities enforcement world will gather in person and virtually for what promises to be a fantastic event, please join us!

Clips ✂️

Joe Weisenthal on Terra

Here’s the thing though, just because it may be a crucial component of the future DeFi vision doesn’t mean it’s necessarily going to be possible. The question remains how can you just create an asset and set the price unless you have an infinite amount of money, or some other persistent source of cash flow, to back it?

by Bloomberg

Twitter

"Stable": What does it mean?

The algorithmic stablecoin TerraUSD nosedived, briefly pushing it to less than a quarter of its original $1 value $LUNA
— Anthony DeRosa (@Anthony)
May 11, 2022

What does it mean when a crypto firm has no U.S. regulatory oversight; no mandated controls or transparency; no regulatory audit/inspection/examination protections; and no SEC/FDIC/OCC/etc. engagement? It's customers risk losing everything w/o recourse. fortune.com/2022/05/11/coi…
— John Reed Stark (@JohnReedStark)
May 11, 2022

There are many crypto firms that want to operate inside the regulatory perimeter, and financial regulators have prevented them from doing so. Financial regulators, including SEC and bank regulators, are responsible for harm from boxing crypto firms out.
— J.W. Verret, JD, CPA/CVA, jwverret.eth (@JWVerret)
May 11, 2022