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Yield-bearing stablecoins have had decent growth, now topping $6 billion in supply and paying out nearly $600 million to users, according to data from Stablewatch. But just as these products go mainstream, the U.S. Senate is moving forward with a stablecoin bill that could ban them outright in America.

In this episode, NYU professor and Zero Knowledge Consulting founder Austin Campbell joins Laura to break down:

• Why yield-bearing stablecoins are under fire in Washington
• Why Dems are pushing for the ban and who stands to benefit
• How this bill could give foreign issuers an edge over U.S. ones
• Whether yield-bearing stablecoins are securities under U.S. law
• And what the future holds for projects like Ethena, Sky, and others

Thank you to our sponsors!

• Bitkey: Use code UNCHAINED for 20% off
• Focal by FalconX

Guest

• Austin Campbell, NYU Stern professor and founder and managing partner of Zero Knowledge Consulting

Links

• Unchained:
  • How the Senate Stablecoin Bill Enriches Corporations at the Expense of Consumers
  • Stablecoin Bill Passes Key Hurdle: Dems Join GOP to Deliver a Crypto Win
  • Tether in the Clear? Yes, Under This New Republican-Led Senate Stablecoin Bill
  • Stablecoin Bill Stalls in Senate as GOP Cries Foul Over Dem Resistance