The Kremlin has long tried to rein in the influence of Western platforms in Russia. Now, that goal may be within reach thanks to a super-app called Max. WSJ correspondent Matthew Luxmoore tells us how the app could help cement state control over the digital lives of millions of Russians. Plus, WSJ reporter Will Parker tells us about a landmark bill in Maine that could put a pause of new data center construction projects. Julie Chang hosts.
In the wake of the 2008 financial crisis, private credit or “shadow banking” grew as an alternative to the regulations and shared risk that institutional banks operate within. What happens if a crisis hits the trillions of dollars that are outside of those guardrails? We may be about to find out.
Guest: Tracy Alloway, co-host of Bloomberg's Odd Lots podcast.
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Podcast production by Evan Campbell, and Patrick Fort.
Jeremy Allaire is the founder and CEO of Circle, the company behind USDC -- the world's largest regulated stablecoin with over $73 billion in circulation. Circle IPO'd last year, surged on day one, and now processes 8x more transactions than Visa. But Jeremy deliberately chose the boringest corner of crypto -- and in this interview, he explains exactly why boring is winning.
Jeremy breaks down what a stablecoin actually is, why the US banking system still runs on technology from the 1970s, and what the Federal Reserve told him when he asked how the dollar actually works. Plus: who loses when Stripe and Shopify start accepting USDC at a fraction of credit card fees, AI agents that pay each other in crypto, and why Jeremy reads Camus instead of business books.
We don’t know who Bitcoin-inventor Satoshi Nakamoto is… but we do Jeremy Allaire. And this guy knows more than anyone about the coolest part of crypto: The Stablecoin. Because Jeremy is the founder and CEO of Circle, the company behind USDC — the world's largest regulated stablecoin with over $73Bin circulation. And he’s a Philosopher at heart.
Circle IPO'd last year, surged on day one, and now processes 8x more transactions than Visa (yeah, that Visa). But Jeremy deliberately chose the boringest corner of crypto — and in this interview, he explains exactly why boring is winning…
Jeremy breaks down what a stablecoin actually is (we were wondering too), why the US banking system still runs on technology from the 1970s (oh boy), and what the Federal Reserve told him when he asked how the dollar actually works. Plus: who loses when you can buy a burrito online with a stablecoin, AI agents that pay each other in crypto, and why Jeremy reads Camus instead of business books (spoiler: to disrupt the financial system, pick up some Nietzsche)
Here’s are the episode breakdown:CHAPTERS
0:00 - Intro: Jeremy Allaire, Founder and CEO of Circle
1:45 - What Is Happening in the Crypto Market Right Now?
3:36 - Jeremy Allaire's Origin Story: The Apple II That Started It All
5:31 - How the Bitcoin White Paper Inspired Circle
6:27 - What Is a Stablecoin? The Netflix Analogy for USDC
11:30 - Why Stablecoins Are Necessary: The $120 Trillion Opportunity
13:54 - Why the US Banking System Is Still Stuck in the 1950s
16:37 - Is Slow Banking Actually Safer? The Fraud Argument
18:47 - $73 Billion USDC in Circulation: How Circle Holds the Reserves
20:23 - The US Dollar Literally Runs on Oracle Databases
22:11 - Can USDC Ever Not Be Worth $1? Circle Stock vs. the Stablecoin
25:39 - Who Loses to Stablecoins? The Credit Card Fee Problem
26:28 - AI Agents Are Now Paying Each Other in USDC
27:54 - Stripe and Shopify Now Accept USDC Payments
29:06 - Jeremy Allaire's Takeaway on the Future of Stablecoins
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Scientists estimate somewhere between 5%-35% of people do not get sick from the flu despite being exposed to the virus that causes it. Now, researchers may have figured out why. The team looked at mouthwash samples from 19 healthcare workers who, despite frequent contact with infected patients, report never getting flu symptoms. Today on Short Wave, we talk about how what they found could help scientists develop treatments and strategies to protect people who do get the flu.
Today’s episode features two cookbooks: One new, the other newly translated. First, a classic Italian cookbook (and classic wedding gift) has been translated into English in full for the first time. Juana Summers spoke with publisher Michael Szczerban about the long journey that brought the regional Italian recipes of The Talisman of Happiness to a global audience. Then, pastry chef Tanya Bush once looked to the kitchen during a difficult moment. She spoke with NPR’s Scott Detrow about Will This Make You Happy, a cookbook and memoir about her year of self-discovery and imperfect baking.
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... and they really never should have been laughed in to court in the first place.
OA1249 - Solicitor General D. John Sauer got plenty of laughs when he brought his best April Fool’s Day game to the Supreme Court this week, and we’re here to break down the single stupidest case the federal government has ever presented. Matt brings the receipts to show just how badly the Trump administration’s arguments against the plain text of the Constitution and the binding precedent of U.S. v. Wong Kim Ark (1898) went, and why he is willing to bet his house on the fact that even this SCOTUS will have no choice but to find that “all persons born or naturalized in the United States” means exactly what it says that it means.
The Artemis II mission has completed a critical engine burn that's propelling the Orion spacecraft and its four astronauts on a journey to the far side of the Moon. It's the first time in over 50 years that humans have left Earth's orbit. Also in this podcast: Iranians describe mounting desperation after a month of war. The military general behind Myanmar's coup five years ago becomes the country's president. President Trump fires US Attorney General Pam Bondi. And the tortoise that the world thought was dead - but it turned out to be fake news.
The Global News Podcast brings you the breaking news you need to hear, as it happens. Listen for the latest headlines and current affairs from around the world. Politics, economics, climate, business, technology, health – we cover it all with expert analysis and insight.
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The gang discuss Trump threatening to bomb desalination plants in Iran, an executive order to create a State Citizenship List and restrict mail in voting, misinformation about an anti-trans bill in Kentucky, and a bombing plot targeting a pro-Palestinian activist. Plus, updates on tariffs and immigration.
Ryan sits down with Galen Wolfe-Pauly, CEO of Tlon, to chat about calm computing and how humans can take back ownership of their data and digital world. They discuss the early internet’s evolution from individual creativity into today’s internet that turns users into products, Galen’s takeaways from building a new network architecture that prioritizes user control, and why messenger applications are ripe for decentralization.
Episode notes:
Tlon is releasing a decentralized messenger app that gives you ownership of your data, built on Urbit, a complete, wholly encapsulated system that allows you to run a personal server in the cloud. Use the code STACK to skip the waitlist for the Tlon Messenger app.
