'Is Tether's USDT Safe?' - Paolo Ardoino. Ep. 545
Ғылым және технология
Long regarded as an impending black swan, Tether has successfully weathered out the contagion and bank runs caused by Luna’s collapse in the depths of the 2022-2023 bearmarket. Since then, a large portion of Tether’s reserves has been shifted to treasury bills, which are the closest dollar proxy, positioning Tether among the top 20 holders of T-bills, worldwide. However, navigating the Tether FUD was not the first rodeo for Paolo Ardoino, as he has also previously led Bitfinex, which successfully recovered after a $72M hack, back in 2016. The worldwide adoption of USDT, especially in emerging markets and developing economies, serves as a testament to Tether’s commitment to create a product with tangible real-life applications.
Topics discussed in this episode:
0:00 - Introduction
3:27 - Paolo’s background
10:12 - How Bitfinex succeeded
16:37 - DEX vs. CEX UX
22:11 - Entrepreneurship and company culture
25:04 - Founding Tether and its use cases
32:19 - Expanding Tether’s cross-chain support
38:38 - Tether’s reserves and long-term vision
45:49 - Stablecoin wars: BUSD & USDC
51:08 - Decentralized stablecoins and bank runs
59:45 - The potential of diversifying physical backing
1:04:18 - Holepunch & Keet - the P2P renaissance
1:17:41 - Incentivising P2P interactions
Links mentioned in this episode:
- Paolo Ardoino on Twitter: bit.ly/3JBVYdi
- Tether on Twitter: bit.ly/4b5CdY1
- Bitfinex on Twitter: bit.ly/3w97AkW
- Holepunch on Twitter: bit.ly/3JyaL8Y
- Keet on Twitter: bit.ly/3xSyGxg
Sponsors:
- Gnosis: Gnosis builds decentralized infrastructure for the Ethereum ecosystem, since 2015. This year marks the launch of Gnosis Pay- the world's first Decentralized Payment Network. Get started today at gnosis.io/ -
- Chorus1: Chorus One is one of the largest node operators worldwide, supporting more than 100,000 delegators, across 45 networks. The recently launched OPUS allows staking up to 8,000 ETH in a single transaction. Enjoy the highest yields and institutional grade security at chorus.one/?ut... -
This episode is hosted by Brian Fabian Crain & Friederike Ernst.
Show notes and listening options: epicenter.tv/545
#tether #usdt #crypto
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