Weekly Roundup 05/13/22 (Terra collapses, FASB reconsiders Bitcoin accounting, the Fed's third mandate) (EP.318)

On The Brink with Castle Island

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