JR and Leon break down one of the biggest concerns in crypto right now: Tether’s potential insolvency and its implications for the entire market. They dig into how USDT’s reserves, Bitcoin volatility, and poor transparency put billions at risk, and why USDC is gaining trust where Tether is losing it.

They also cover a major $30M Upbit hack, growing threats from North Korean cyber groups, and the increasing dangers of centralized exchanges.

The episode closes with a bigger question:
Are self-custody wallets becoming the new “neo-banks”?

And why keeping your money on Coinbase, Binance, or any exchange might not be as safe as you think.

Hosts:

Jesus Burgoa (JR), Founder & CEO of Social Market

LinkedIn: https://www.linkedin.com/in/jesus-rafael-burgoa-b34874170/

X: https://x.com/jesusrburgoa

Website: https://jrburgoa.com/

Co-Host:

Leon Hitchens, CMO of Social Market

LinkedIn: https://www.linkedin.com/in/leonhitchens/

X: https://x.com/Leonhitchens

Website: https://www.leonhitchens.com/

Find Us:

Spotify: https://open.spotify.com/show/3cfUVNwIm2AXt2oZ0nx2Dv

Apple Podcasts: https://podcasts.apple.com/us/podcast/the-social-ledger/id1803475184

YouTube: https://www.youtube.com/@TheBoostChannel

Website: https://theboost.fm/social-ledger-report/

Key Talking Points

✓ Tether nearly became insolvent due to Bitcoin price drops

✓ Why USDT’s reserves (Bitcoin + gold) create unnecessary risk

✓ USDC’s transparency advantage and why Coinbase pushes it

✓ The Upbit $30M Solana hack and what it exposed about wallet patterns

✓ Rising threats from Lazarus Group

✓ Why self-custody is becoming crucial as exchanges remain high-value targets

✓ The future of wallets acting like decentralized banks

✓ Crypto influencer scams and why you shouldn’t trust hype

✓ JR & Leon’s personal strategies for holding BTC, ETH, SOL, and USDC

Takeaway

Stablecoins aren’t all equal. Exchanges aren’t invincible.
Self-custody is becoming essential, and the crypto world is shifting fast.