OpenUSD Just Broke the Circle-Tether Duopoly | Ep 535

Good now revolutionaries— Wednesday morning brings the biggest crypto news of the week and one of our most-returning guests. DJ William Quigley — co-founder of Tether, co-founder of Wax, aspiring DJ, aspiring muffin recipient — joins Evan, Alex, and Will to react in real time to the launch of OpenUSD (OUSD), a new consortium stablecoin backed by 140 of the largest companies in tech and finance: Coinbase, BlackRock, Solana, Visa, MasterCard, Stripe, plus 130+ others. Revenue-sharing model like USDG/Paxos, no minting cap, no minting or redemption fees, and Stripe has already declared it their go-to stablecoin. Circle stock dropped 14% on the news. Paulo Ardoino tweeted 'Welcome OUSD, player 2 has entered the game.'William's take reframes the whole story: the real value isn't the revenue share, it's that the member institutions will finally be free from being BULLIED by centralized issuers. He walks through the ACH parallel — 10,000 institutions operating a nonprofit co-op that moves money for 7/10 of a cent per transaction — and explains why crypto's version of that infrastructure (open, neutral, cooperative) matters more than which stablecoin makes the most yield. Tether's own co-founder essentially saying 'the industry is going to like this' is the kind of quote that only happens once.Also this episode: Will confesses his cross-margin gotcha on Pacifica (deposited funds got vacuumed into his existing Bitcoin short — cross vs isolated margin explained in plain English), Alex talks through his SOL short that went right for the wrong reasons and cost him profit, an XRP-as-educational-tool riff, JTX beta workshop details after yesterday's Hayden episode, and Alex fires up the ICP debate — hard rebuttal on the 'Swiss government adopted ICP' meme (it didn't; DFINITY partnered on research, that's it). Closing with Sam Kavanagh's vocabulary word of the day: exsanguinate.Powered by Arculus Wallet — getarculus.com, promo code ARCURUMS10.Powered by Jito — stake your SOL at https://www.jito.network/staking/.RUMS Purple WalletWant the safest way to store your crypto? The Arculus cold storage wallet keeps your assets completely offline, away from exchanges, away from hackers, and fully in your control. Get your exclusive RUMS x Arculus cold storage wallet today!Crypto Payment · Card PaymentSupport the show— Want to hang out with us after the show, get live answers to your questions, or join future giveaways? Join our free community where the show lives 24/7: community.rumshq.com—☕ THE RISE UP MORNING SHOW☀️LIVE Monday - Thursday @ 7a centralHelpful web3 news, commentary, & answers to your crypto questions.🍻RISE UP AFTER DARK🌗 LIVE Wednesdays @ 7p centralDYOR and BYOB for casual Q&A, fun with expert guests, and altcoin research.📈RISE UP MARKET WATCH🤑LIVE Mondays @ 7p centralTechnical analysis, real macro insight, and practical takeaways to help you invest smarter in every market.⚖️ TRUST ISSUES 🧐 LIVE Tuesdays @ 6:30p centralBreaking down U.S. crypto policy, regulation, and legislation—what they mean for the industry and what comes next.—WANT MORE?👉Connect w/us on your favorite social: https://rumshq.com👉Become a guest or sponsor: [email protected]👉Join our free community: https://community.rumshq.comFOLLOW OUR HOSTS:☮️ Evan Mann: https://beacons.ai/conversationswithevan🤬 Alex Popovic: https://alexpopovic.info🐬 Will Watson: https://c...