The Block's Director of Research Larry Cermak and Research Analyst Mike Rogers join the show to talk through their latest report on stablecoins. In this episode: 

• Why the Block chose to focus on stablecoins for this report
• Larry and Mike's opinion on why stablecoins are so disproportionately dollar-based
• China's influence in the Tether market
• The history of Tether and why it attained so much traction initially
• How you can determine the location of stablecoin users
• The Tetherification for offshore exchanges – and how it displaced Bitcoin as the reserve asset
• The influence of USDC in DeFi and whether it represents a systemic risk to the sector
• Dai's transition to non-native collateral types
• Mike and Larry's view of algorithmic stablecoins
• Why stablecoins are so divisive between economists and crypto entrepreneurs
• Why Tether's dominance is declining
• Where the NYAG settlement leaves Tether now
• What Larry makes of USDT on TRON stealing some market share from Ethereum
• Why investors are settling deals in stablecoin terms
• The prospects for Libra/Diem
• Mike and Larry's expectations for the next decade in stablecoins

Related content: 

• The Block's report on Stablecoins 
• The OTB Crypto-dollarization series

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