The great crypto crash of 2022 was spectacular, to say the least. $2 trillion evaporated seemingly overnight. FTX collapsed. The price of Bitcoin fell to $18,000 in June 2022 just one year after it reached an all time high price of $69,000. The stablecoin company Circle was not also not spared. It lost half its valuation, had to delay going public, and was impacted by the SVB collapse. But things have turned around for Circle. It's USDC stablecoin regained its dollar peg in March and there is $26 billion of it in circulation.
In today's episode of Leadership Next, Circle CEO and co-founder Jeremy Allaire joins hosts Alan Murray and Michal Lev-Ram to discuss how Circle, and the entire crypto industry, is pulling itself out of last year's wreckage. He compares the crypto crash of 2022 to the dot com bust of the late 90s and predicts that crypto will one day be as ubiquitous as the internet. Allaire also discusses the underlying value of crypto beyond being a speculative asset and how Circle's focus on stablecoins sets them apart. He also shares his take on the importance of the regulation of crytpo, both by the U.S. government and global bodies. Additionally, Allaire talks about the increasing role of traditional finance institutions in the crypto market and Circle's partnership with the UN to make USDC usable by Ukrainian refugees
Leadership Next is powered by Deloitte.