Nathan McCauley (Anchorage) on the evolving banking and custody landscape (EP.595)

Bullish:

• $STABLES - Bipartisan support for stablecoins as strategic US assets suggests upcoming favorable regulation, potentially leading to rapid growth and adoption of regulated stablecoins.

  • “This must be a strategic asset of The United States.”

    Nathan·22:06
• $BANKCRYPTO - Banks have shown interest in entering the crypto space, indicating potential growth for crypto-focused banking services once regulatory clarity emerges.

  • “Banks wanted to come into crypto and were actively working on it.”

    Nathan·17:17
• $INFRA - Potential surge in new protocol development if regulatory clarity emerges, driven by high entrepreneur interest and pent-up demand due to current regulatory uncertainty.

  • “There's a huge amount of entrepreneurs that want to build protocols. And I think that's part of what's been sad about some of the amount of regulatory uncertainty has been, frankly, the number of protocols that have not come into existence.”

    Nathan·29:09

Bearish:

• $USDC - USDC's economic model is criticized for lacking collaborative building potential, suggesting vulnerability to new, more collaborative stablecoin solutions that could gain market share.

  • “Unfortunately, if you look at something like USDC, it does not have a model where you can actually build on it together.”

    Nathan·22:46