The Tether Situation w/ Bennett Tomlin (Part 2)

Continuing on the discussion of systemic risks associated with Tether, Bennett describes additional risks in the broader cryptocurrency space. He talks Binance as well as MakerDao & Dai. For those who don't know, Dai is a crypto-collateral stable coin which allows users to interact with smart-contracts on the Ethereum blockchain and take out loans (denominated in Dai) against their cryptocurrency. Bennett describes the contraversial and potentially dangerous move by the decentralized band of merry bankers to use a tether-like stable coin as collateral (USDC). We also discuss the nature of the bubble/ponzi that is the cryptocurrency space as it currently stands. Check out Bennett's work on his blog: https://bennettftomlin.com/ Find him and his partner in crime on twitter: @BennettTomlin @CasPiancey @CryptoCriticPod Their latest show on Tether and other scams: https://cryptocriticscorner.com/ Want to come on the podcast? Reach out to me at [email protected] Special thanks to the r/buttcoin community for encouraging skeptical inquiry. And special thanks to @Bitfinexed for positive direction and regular ideas. Upcoming podcasts: David Gerard MicroStrategy Inquiries And more! --- Send in a voice message: https://podcasters.spotify.com/pod/show/when-the-music-stops/message