>Sold my USDC at $0.85 to buy tether at $1.05
>And it's now repegging
Please tell me it'll go back to below $0.8. I promise to buy back and hold.
I can't lose this money jfc
>Sold my USDC at $0.85 to buy tether at $1.05. >And it's now repegging
>Sold my USDC at $0.85 to buy tether at $1.05
Falling into your wing while paragliding is called 'gift wrapping' and turns you into a dirt torpedo pic.twitter.com/oQFKsVISkI— Mental Videos (@MentalVids) March 15, 2023
Thanks for playing.
Don't worry, everyone thinks they're a genius right now for buying USDC at these prices but what they're failing to evaluate is that circle could potentially be exposed to the next banks in the collapse path. Signature Bank and First Republic Bank aren't looking so hot
>durr now that Thing happened I speculate that Thing will happen again cuz twatter said so
Fucking moron you didn't even know what SVG was 2 days ago.
Keep telling yourself that buddy, enjoy the ability to create a little cope delusion for yourself to live in until monday.
Whatever retard. I had this same conversation with braindead losers with their "ftx contagion" in November. Made a nice little return buying BTC at 16K from panic-selling retards like you and I will now make a nice return after buying USDC from you at a 10% discount.
Did you see that candle down to 34cents? I'm not saying sell your crypto, I'm saying you aren't fully pricing in the risk of USDC
Bruh that candle was on Binance US where it had no liquidity anyway...
It wasn't just binance buddy
Post links or GTFO
I'm also not panic selling as I never held any USDC, I'm not fucking touching my bitcoin for anything, especially to trade it for some worthless stablecoin that's entirely reliant on the broken financial system
I’m shorting USDC because of this post 50x leverage
>hur dur it's over now because twatter said so
>hur dur it's the weekend and everything is frozen
It's true that most people didn't know SVB but they.did know it was a matter of time before a bank crashed, and now it's a matter of time before the next domino.
I'm glad you are here however because the damage control on this financial crisis has been lackluster to say the least
What financial crisis? Everyone is saying this isn't a 2008 situation.
USDC doesn't have exposure to FRB, just SB
>losing money on a stablecoin
HOW DO YOU EVEN ACCOMPLISH THAT?
What idiots even hold stable coins just buy btc and hold you fucking idiots if I wanted a stable coin id CASH OUT
>just buy a high-risk low reward shitcoin whose early community calls it a scam and has moved on to better coins already
People in other countries who think their currency will fall
Its going back to $1 once redemptions open. Over 10% of USDC is locks or otherwise liquid, so there is zero risk of USDC running out of reserves even if every liquid USDC was redeemed. They just can't until banks open again. RIP if you sold.
You realize the reserves aren't 100% in cash right?
Yeah they're in short term tbills which a max loss of like 0.1% lol, USDC's treasuries are way safer than actual banks, lol
Way safer than actual banks? They're held with actual banks you mouth breathing spastic
I'm talking about their treasury holdings you fucking retard in response to you
Let me guess you think they're holding all the treasury certificates in a safe at the HQ like some bond villian. They're held with a fucking bank, I honestly don't know why I'm even bothering
Real question is that when you are worth 40b dollars you don't have a bond villain safe holding treasuries and cash and instead hold it with a bunch of shitty massively undercollateralised banks?
They're not held in some regional bank, they are held with a titan bank like Barclays
I'm obviously talking about treasuries vs bank accounts. Btw you can hold treasuries directly, or you could hold them with a bank or brokerage but its not a bank account, you own the treasuries so it has no risk if the bank fails... you're being autistic.
I'm not arguing with you on that. Treasuries are safer than cash, they have a real yield too, they just aren't as liquid and while technically owned even in a collapse, it's not an instant process of being able to liquidate those treasuries if enough people run for the exits
tbills are incredibly liquid, their max loss would be like 0.1%. So once the redemptions start USDC is going back to 0.999. Oh nooo. Like I said a lot more USDC is locked or liquid than the part of the reserves that are stuck in SVB. USDC could pay out the entirely of circulating USDC 1:1 in a week.
You do realize they also had cash in silvergate, right? Wrong actually, the might be able to do it with 9/10 people at 1:1 if they liquidated everything
They withdrew from silvergate a year ago and lost nothing.
Lol no, its probable SVB will get absorbed by a big bank and all deposits will be recovered, the worse case scenario is a 20% or haircut or something, and then circle backers like coinbase would cover the rest. With rates at 5% USDC generates more profit from reserve interest than that gap in just a few months.
They don't have a few months. Also why would say JPMorgan not just wait until they're worthless and scoop up all their assets for pennies on the dollar. Bankers are not your friends
What hasn't been seen yet is how exposed coinbase itself is. Some of the venture firms that seeded coinbase also got caught up in SVB
"Stuck" in SVB... I don't you think you understand what's going on here. Those reserves from non FDIC insured depositors are gone.
Hahahahahahhahahaha, the FDIC themselves said deposits over 250k get a certificate for receivership, so at best they all got Mt. Goxed and have to wait 10 years for payout
No. Those assets will be liquidated for a lower price, around 60-80%
Everyone will be reimbursed but not at full.
The majority of their portfolio was mortgage backed securities with a 10 year maturity
they can still prematurely sell them
Yeah, but for how much? We will see what happens come monday
You could make the argument that the bank they'e held with is "more" safe which it probably is, but they are still held with a bank nonetheless
You already lost it. No refunds.
No refunds my nigga
0.972.... looks like it's repegging to me. Like I said before, nothing ever happens. You're all just a bunch of zoomer doomer homosexuals that coom at the thought of us being as poor as the rest of you.
just go play slots. you crypto people are fucking morons.
Why are you even using a stablecoin? They are absolutely fucking retarded. Why not just hold dollars? If you're trying to increase your Bitcoin amount you can do it by treating it like forex and trading BTC pairs.
Only LULZ could successfully buy high and sell low on a fucking stablecoin.
Good for you fucktard. Y'all don't learn. This isn't even a fault of Circle in the first place but they got a proper risk management in place. Never had a doubt about it re-pegging. Waking up tomorrow to continue living like nothing happened. When you earn as much passive income as I do, You'll understand where the confidence is coming from.
I hope whatever passive income you make is worth it to sound this foolish. There's obvious chaos and that's not okay.
It's not just about how much passive income I make; it's about the credibility of the system. If SpoolFI chose USDC as one of the stables supported on their platform, then it means they've deemed USDC to be safe enough becaus they've always gone for the best options.
Do their opinion matter that much? Say something else.
SpoolFi is the only institutional grade Defi project listed on Arbitrum rn; that isn't a random occurence. Their structure is so good that other devs are copying their exact codes. Didn't you hear of the mess FcatorDAO got themselves into?
I don't know bizfag, that opportunity is gone and the best you could do is invest your Usdt in yield farming to regain the loss on usdc. I am big on yearn finance and convex, and DEXs like Maiar where I stake Itheum and Ride for passive income.
israelites banking on USDC
Went against the israelites
Surprised when you lose