The Unwinding of the Monetary System

In the latest episode of “On the Margin,” Michael Ippolito, co-founder, Blockworks, sits down with Luke Gromen, Founder and CEO at Forrest for the Trees LLC, to discuss his view of the monetary system

by Liz Coyne /

April 21, 2021 11:03 am

Luke Gromen, Founder and CEO at Forrest for the Trees LLC

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In the latest episode of Blockworks’ podcast “On the Margin,” Michael Ippolito, co-founder, Blockworks, sits down with Luke Gromen, Founder and CEO at Forrest for the Trees LLC, to discuss his view of the monetary system.

Mike and Luke also cover the bubble in sovereign debt, how the petrodollar system was established, the fracturing relationship between the US and China, and finally the role bitcoin and gold may play in the future.

“On the Margin” is a two-part show. Once a week, Mike interviews industry experts, and then at the end of the week he is joined by co-host Tyler Neville where they break down the top crypto and macro stories. Episodes go live every Wednesday and Saturday morning.

Subscribe to “On the Margin” today on Apple or Spotify, or watch episodes on YouTube.

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Under current market conditions, stablecoins are paying compelling risk premiums multiples higher than the risk-free rate. Elevated premiums present a highly positive context for continued growth in the aggregate stablecoin supply and new inflows coming into the market to capture this elevated carry. Onchain money markets stand as primary beneficiaries of these market conditions and a forward outlook of a growing stablecoin supply. Similarly, Pendle’s PTs across a number of assets can provide attractive instruments to hedge variance and lock in a compelling fixed yield.

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