Coinbase Bankruptcy Scare, How Stablecoins Work, Terra (LUNA) Crash Broken Down w/ Simon Grunfeld (VP of Crypto at SIMBA)
In this episode, Shamus Madan chats with Simon Grunfeld about the advantages of stablecoins, the recent crypto crash, and the comparison between investing in stocks and cryptocurrency. They dive into Simba, a new platform for NFTs, discuss the regulation challenges of cryptocurrencies, and the role of Coinbase in user protection. They explore the future of crypto and the potential of Web 3 and NFTs in the upcoming decade.
Key Points
- Stablecoins are cryptocurrencies designed to maintain a stable value by being pegged to a fiat currency, offering advantages like borderless transactions and reduced fees, but they can be susceptible to market conditions and algorithmic failures, as seen with Terra USD and Luna.
- The recent crypto market downturn reflects a broader bearish trend in global financial markets, with stronger performance of the dollar impacting crypto valuations, yet such conditions also present potential buying opportunities for long-term crypto investments.
- Regulation of cryptocurrency and NFT markets is complex and evolving, with potential for government-issued digital currencies to offer new forms of protection for crypto assets, while the NFT space continues to expand beyond digital art into practical applications like supply chain management and carbon credit marketplaces.
Today Simon Grunfeld makes his 3rd appearance on the podcast to discuss:
How the crypto founder Do Kwon caused Terra (LUNA) to lose 99% of its value
How traditional stablecoins work and what they are used for
What the Terra (LUNA) crash means for the rest of the crypto market
How SIMBA Chain is working to prevent fraud across NFTs
and many more!
Twitter of Host: @mbitpodcast
Twitter of Guest: @SIMBAchain & @simongrunfeld
Chapters
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| 14:28 | |
| 18:48 | |
| 24:06 | |
| 26:25 | |
| 27:20 |
Transcript
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