Matt and Nic cover news and deals of the week. In this episode: 

• The CIV hat snafu
• Was synthetic USD on Bitmex the first stablecoin? 
• Remembering Mastercoin and seigniorage shares stablecoins 
• Does the Fed have a shadow third mandate? 
• We break down the Luna situation and why it was destined to fail 
• Why the subsidized yields on Anchor were the biggest mistake 
• Likely fallout from the Luna collapse 
• The Terra blockchain is halted 
• Do we actually need algorithmic stablecoins? 
• SBF acquires a stake in Robinhood 
• Is the Twitter sale to Elon under threat? 

Sponsor notes:

• Subscribe to the Coin Metrics State of the Network newsletter