Jeremy Allaire, CEO of stablecoin giant Circle, spoke at Consensus 2022 on Wednesday about where companies like his fit into the current US dollar system and regulatory regime.
The executive stated believes a widespread loss of faith in United States Banking is contributing to a “de-dollarization”, and that digital dollar stablecoins will help it retain its global dominance.
A Safe Digital Dollar
During a panel titled “ A 10-Year Rollercoaster Toward a New Model of Money,” Allaire said that the collapse of Silicon Valley Bank (SVB) in March was a mere reminder of why Circle and other crypto firms were founded 10 years ago.
“It was a reaction to the global financial crisis of 2008,” he said. “ I personally spent a huge amount of time trying to understand the nature of money, how the banking system [works], the international monetary system – and that was before I had any sort of knowledge of Bitcoin or any of this,” he said.
Bitcoin’s whitepaper was published
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