Crypto! Banks! Drama! Don’t miss the latest episode of As the World Burns

Welcome to Token Issue! Delivered every Friday, this free newsletter breaks down the biggest stories in Asia’s crypto scene and beyond. View past issues here or sign up here to receive future newsletters.

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Last Friday on As the World Burns, when we last saw our hero, Janet Yellen, she was faced with the seemingly impossible choice: to follow her heart and save her tragically failing banks or stay true to her dreams of raising prime interest rates.

This week, the drama continues to unfold with unexpected twists and turns. Why are banks in New Jersey suddenly holding USD Coin reserves? Will the US Treasury abandon the crypto world? Is the Federal Reserve doomed to keep raising, then lowering, then raising, and then lowering interest rates over and over and over and over again? (Seriously, this has been going on now since the dotcom bust.)

Stay tuned as we bring you the latest updates and gossip analysis from the world of passionate conspiracy theories, mesmerizing stupidity, and stablecoin redemption. Get ready for another exciting chapter of As the World Burns.

Sorry, that was a little over the top, I know, but this is what it feels like following the news coming out of the US banking system over the last week – and it keeps getting worse.

Last Friday, it was just Silvergate. Today, well, you can check out my analysis on what the crypto world learned this past week in Deep Dive. Hang tight, everyone.

— Scott

🤿 THE DEEP DIVE

How crypto will evolve after this weekend’s banking crisis

Image credit: Timmy Loen

With the closure of three banks with ties to the crypto sector, there was a lot of anxiety this weekend.

Unlike in 2008, when Lehman Brothers collapsed, cooler heads prevailed and the banks’ clients were allowed to access their accounts, but there are still questions and concerns.

With so many crypto-friendly banks biting the dust, how will the industry access the US financial system? Where will they put their money? Will there be a liquidity crisis?

Those are the questions we’ve asked crypto industry insiders for this week’s Deep Dive. The answers aren’t going to solve everyone’s problems, but they’ll hopefully put the future of the industry into perspective.

👀 ALL EYES ON…

⭐ TO THE STARS

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