>TFW THINKING IM 1000000% SAFE BEING IN CASH WITH EVERYTHING ON A LEDGER IN STABLES ON THE """""SAFEST""""" STABLECOIN USDC
>TFW USDC HAS DEPOSITS IN SVB
>TFW SVB IS COLLAPSING RIGHT NOW
>TFW USDC IS DEPEGGING RIGHT NOW
AHAHAHAHA I'M GOING FUCKING CRAZY I JUST CAN'T FUCKING WIN
Le hecking coin is depeggggging!!1
>-0.05% for 5 minutes
>typical biz ooverreactor
>t. circle employee
its literally been unpegged for hours and its not 0.05%
looks like nothing new, always been a shitshow
>cmc
yeah guys nothing to see here
Stables have always been a centralized scam.
BTC is unironically the safest asset you can own in this space.
why don't you just use tether
their deposits are all in cayman islands along the rest of the politicians' bank accounts
1 BTC = 1 BTC
USDC keeps about 23% of its reserves in cash, with the rest in government bonds. It’s cash reserves are split among 9 different banks. If we assume that its cash is distributed equally among the banks, that is about 2.5% of its reserves that are potentially compromised. The lowest yielding government bond, the 10 year treasury, yields 3.7% so even if we assume that all of USDC’s bond reserves are in the 10 year, that’s a 2.8% return that USDC is overall earning each year. In other words, even if SVB’s holdings are entirely erased, USDC’s treasury holdings will make up the difference in less than a year
the don't have all year to return it, once a run starts they will need it on hand now
additionally, silvergate contagion is spreading to other banks already, what then
>silvergate contagion is spreading to other banks already
Wishful thinking and delusion.
a few banking stocks today:
- First Republic Bank, $FRC: - 20%
- Western Alliance Bancorp, $WAL: -42%
- PacWest Bancorp, $PACW: -37%
- Signature Bank, $SBNY: -26%
nothing to see here
never heard of them
literal nothingburger
kek, check the usdc/usdt graph buddy
USDC had a 1.1$ scamwick in 2022, nothingburger.
literally nothing will happen
do nothing
check your accounts in a few weeks
they'll be the same or higher
guaranteed
Good morning retards
- First Republic Bank, $FRC: - 20% ,205 billion in assets
- Western Alliance Bancorp, $WAL: -42% 65 billion in assets
- PacWest Bancorp, $PACW: -37% 41 billion in assets
- Signature Bank, $SBNY: -26% 110 billion assets
das a lotta assets behind that investor uncertainty
You underestimate the effect of mass panic selling
this is how UST depeg looked like
watch closely the USDC chart, don't be faked out in these "deploying more capital" pumps fellow shorters
How the fuck do you short a stablecoin no exchange lets me do that.
bybit, a
UST and USDC are totally different mechanisms though. Luna fuckery is what destroyed UST. If USDC gets damaged, it won't happen overnight.
>It's over
>thinking stablecoins are low risk
kek retards
>fiat-backed
>stable
you were never going to win
the perfect stablecoin would only be as stable as the us dollar
great talk about how to do exactly that
imagine thinking tether will ever collapse.
cringe
I really don't understand the point of keeping stable coins.
Why risk your dollar holding an imaginary token that is supposed to stay pegged to that dollar? Just keep the dollar.
because i cant trade my usd for babysonicobamanaggerinu coin on my shitchain
The only "safe" play is 100% BTC in a cold wallet
Why do you think BTC was invented?
this. retards are getting a real fucking wakeup call.
stables were never, and will never be 'safe'. they come with massive counterparty risk.
Based maxi bros. All you had to do was buy Bitcoin and move it to a cold wallet to make it and you done fucked up. All alts are securities by the way
He has learned nothing from 08.
Bitcoin was created for this very thing.
Anyone telling you to move into cash or USD is a ~~*banker*~~ looking to steal your money.
The whole point and the reason BTC was created is for these moments.
Do you even know what the message was in the genesis block.
Do you even know why its so slow, its all by design, a fully decentralised system.
Safest stable is probably MTR. Meter-io stablecoin value is pegged to the global average cost of electricity. MTRG governance token supply is only 40 million
Six figs in USDC, give it to me straight bros am I fucked?
if this is a lot of money to you, get out now
Get out where? I am a crypto native, my bank acc has low 5 figs. I already own 4 BTC
mix of tether and btc
Same story. Don't panic, worst case usdc is backed $0.92. we will more information on Monday from the FDIC to see what funds are recoverable.
i'm sure the fdic is going to bail out anonymous crypto bros
Newfags don’t remember USDC depegging even harder 5 years ago
member TUSD?