'We're Trying To Save Crypto From The Banks': Circle CEO Allaire

Circle CEO Jeremy Allaire isn’t buying any narratives which suggests the traditional banking system needs to be protected from crypto. Instead, he believes the opposite to be true.

Highlights

• Circle CEO Jeremy Allaire isn’t buying any narratives which suggests the traditional banking system needs to be protected from crypto.
• Instead, he believes the opposite to be true.
• The scrutiny of how traditional banks manage deposits held on behalf of crypto companies has intensified in recent days after a run of prominent financial institutions like Silvergate, Silicon Valley Bank and Signature Bank all shuttered.
• Allaire is currently in the process of moving $3.3 billion from Silicon Valley bank to BNY Mellon, said Allaire during an interview with the hosts of the Bankless podcast.
• The company operates the USDC stablecoin, which depegged on news that the company had money held at Silicon Valley.

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