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Why Argentina Is Paying a Premium for Stablecoins

Citizens flooded into DAI and tether after the country’s economic minister announced his resignation on Saturday.

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Published on: Jul 5, 2022

This episode is sponsored by Nexo.io, Chainalysis and FTX US.

On today’s episode, NLW looks at a number of crypto events from the long weekend, including:

  • Why Argentines flooded into stablecoins and drove the price of tether above $1 over the weekend
  • Whether on-chain bottom signals are reliable this cycle
  • The latest in crypto contagion

“The Breakdown” is written, produced by, and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsors is “The Now” by Aaron Sprinkle. Image credit: hernan4429/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.