Transcript for #15: Su and Hasu discuss the 20 Biggest Coins on Coingecko

The point of this essay is to show how value flows from users to shareholders in both companies and decentralized protocols and give the reader a mental model for making sense of profit share tokens.

In this piece, we demonstrate how several recent reports about Bitcoin’s exposure to Tether have been grossly exaggerated. We then assess how exposed to both solvency and liquidity risks is Tether. We finally conclude that Bitcoin should be robust to Tether-related shocks.