/biz/ - Business & Finance

>>54024466
Le hecking coin is depeggggging!!1
>-0.05% for 5 minutes
>typical biz ooverreactor

>>54024466
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

>>54024508
>t. circle employee

its literally been unpegged for hours and its not 0.05%

>>54024703
looks like nothing new, always been a shitshow

>>54024736
>cmc
yeah guys nothing to see here

>>54024587
This

1 BTC = 1 BTC

>>54024466
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

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

>>54024466
>It's over

>>54025832
How the fuck do you short a stablecoin no exchange lets me do that.

>>54025817

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

>>54025914

bybit, a

>>54026132
>silvergate contagion is spreading to other banks already
Wishful thinking and delusion.

>>54024466
>thinking stablecoins are low risk

kek retards

>>54026165

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

>>54026404
never heard of them
literal nothingburger

>>54026413

kek, check the usdc/usdt graph buddy

>>54026493
USDC had a 1.1$ scamwick in 2022, nothingburger.

>>54025832
UST and USDC are totally different mechanisms though. Luna fuckery is what destroyed UST. If USDC gets damaged, it won't happen overnight.

>>54026493
literally nothing will happen
do nothing
check your accounts in a few weeks
they'll be the same or higher
guaranteed

>>54026413
- 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

>>54024466
>fiat-backed
>stable
you were never going to win
the perfect stablecoin would only be as stable as the us dollar

>>54027850
https://www.youtube.com/watch?v=kDCqiZd4xkI great talk about how to do exactly that

>>54024466
imagine thinking tether will ever collapse.
cringe

>>54024466
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.

>>54030450
because i cant trade my usd for babysonicobamaniggerinu coin on my shitchain

>>54024466
The only "safe" play is 100% BTC in a cold wallet
Why do you think BTC was invented?

>>54032217
>>54032217
this. retards are getting a real fucking wakeup call.

stables were never, and will never be 'safe'. they come with massive counterparty risk.

>>54024466
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

>>54027462
>>54026413
>>54026165

Good morning retards

Six figs in USDC, give it to me straight bros am I fucked?

>>54033868

if this is a lot of money to you, get out now

Newfags don’t remember USDC depegging even harder 5 years ago

>>54025817
You underestimate the effect of mass panic selling

>>54033888
Get out where? I am a crypto native, my bank acc has low 5 figs. I already own 4 BTC

>>54034030

mix of tether and btc

>>54033868
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.

>>54034104

i'm sure the fdic is going to bail out anonymous crypto bros

>>54032217
>>54032404
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

>>54024466
member TUSD?