Castle Island Ventures and Coin Metrics co-founder Nic Carter joins @NLW to discuss cascading crises, crypto dollarization and the state of the bitcoin narrative.
In this wide-ranging discussion, Castle Island Ventures founding partner and Coin Metrics co-founder Nic Carter joins @NLW to discuss:
- Why corporations weren’t adequately prepared for any serious economic trouble, much less a global pandemic
- Why government backstopping the corporations leads to inappropriate risk taking
- How stock buybacks became a boogeyman of the current crisis
- Why the crisis is actually four crises in one: health, economic, financial and geopolitical
- How COVID-19 could accelerate the U.S.’ withdrawal from the world and China stepping into the void
- Why the response to the handling of COVID-19 could lead some to authoritarianism
- How stablecoins are allowing global market exposure to the world’s most in-demand currency: the USD
- Why stablecoins and central bank digital currencies look the same but are functionally opposite
- Why a "naive safe haven" narrative was never correct for bitcoin
- Why bitcoin was designed for exactly this type of moment
CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.