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54059827 No.54059827 [Reply] [Original]

Why the fuck hasnt it repegged yet?

>> No.54059835

what has fundamentally changed?

>> No.54059881

It's a 95 cent stable coin now and it does a good job being stable at 95 cents. What's your problem OP?

>> No.54059888
File: 101 KB, 601x600, cz.png [View same] [iqdb] [saucenao] [google]
54059888

stop panicking retard holy shit

>> No.54059890

the market says holding this shit is not worth the risk

>> No.54059906

>>54059827
You guys have until 7am est tomorrow to get it pegged back to $1 or else it’s going straight to 0

>> No.54059911

Why would it be worth 100% of the dollar if they are confirmed to no longer be 100% backed by dollar value?
Fair market value is around $0.90 give or take a few cents depending on how much they lost
Meaning it no longer is fit for purpose as a stable coin... Meaning its actual value is $0
Thanks for playing

>> No.54059918

>>54059911
Holy shit have you done any research? CIrcle already said they'll cover it no matter what.

>> No.54059936

>>54059918
Assuming they get the funds back. If not, it is a worthless scam coin

>> No.54059938

It is most likely over for USDC since more and more ppl will try to play safe by moving out around 97-98% of peg. Others would follow if repeg actually happens. Reputation in stable coins is gone since they are tied to banking sector which is now a problem(3.3bn)

>> No.54059982

>>54059918
SVB also said everything was fine the day before they collapsed

>> No.54060002

>>54059911
Assuming they've been making money / have investors / can borrow cash they just need to buy back the unbacked USDC (at a discounted rate) and burn it. They have a real opportunity to restore the peg, this is nothing like UST.

>> No.54060006

>>54059911

A fair market value of a """$1 stablecoin""" is not 90 cents, it's fucking ZERO. It's worthless.

>> No.54060058

>>54059827
Whales squeezing retarded panic-sellers for the weekend as long as they can until Circle starts redeeming 1:1 on Monday.

>> No.54060067

>>54059827
Because it never will.

>> No.54060089

>>54059918
Circle said that so they can steal one last cent of actual money.

>> No.54060090

>>54060058
It recovered from the bottom way too quickly for whales to be involved in a meaningful capacity. A few whales could have easily destroyed this through AAVE

>> No.54060101

>>54059827

it's already stable at 0,95 so chill, it will stay at that price until we go to be stable at 0,50 USD

KEK

get the fuck out from that scam if you can

>> No.54060132

>>54060090
>drops random shitcoin name
I'm talking about real whales.

>> No.54060138

>>54059827
its simple, the crypto market is full of retards. market makers know this, so they arent going to be in any rush to repeg it before redemptions open, since they can get panicking retards to sell it to them cheap

>> No.54060253

>>54060090
>A few whales could have easily destroyed this through AAVE
how?

>> No.54060265

>>54060090
USDT is at borrow limit capacity on AAVE though

>> No.54060292

>>54060265
Wow so that’s changed while I slept. Pardon my ignorance

>> No.54060304

>>54059827
it's so easy to depeg USDC, so it will become every weekend the same story soon :)

look at vol it's already low but we still depeg :)

so we can depeg it every friday that coin :)))

>> No.54060927

More FUD:
https://watcher.guru/news/us-treasury-secretary-rules-out-a-bailout-for-silicon-valley-bank?s=09

>> No.54060935
File: 144 KB, 1556x439, 34B7883E-1B87-4E34-90AF-A1CB1934F903.jpg [View same] [iqdb] [saucenao] [google]
54060935

>>54060927
Retard

>> No.54061046

>>54059911
so you admit they have like 30b in cash?
so whats stopping them from market buying discounted USDC, effectively reducing their liabilities and making money at the same time?

>> No.54061112

>>54059918
>CIrcle already said they'll cover it no matter what.
yes because people in crypto are known to be honest and never make false promises just like do kwon and sbf

>> No.54061123

>>54059918
Operation Chokepoint remains undetected. PROCEED

>> No.54061205

>>54059827
Because no one can get their money into crypto on the weekend. The vast majority of stablecoin liquidity is in defi. And defi users were already mostly holding USDC or in LP pools with USDC as opposed to USDT which is more popular for CEX users and as an actual dollar payment system. So the issue is a lot of the people who would arb USDC outside of redemption are already in USDC. They can't get more money in on the weekend. And there isn't a lot of USDT in the defi world to leverage long USDC, like USDT is already max borrowed on aave. As soon as the banks open it will be a race to arb before the peg restores.

>> No.54061264

>>54059918
Where does Circle have an extra $3.3 billion lying around? In a bank?

>> No.54061308

>>54059827
US government going to kill it so the digital back currency has no competition

>> No.54061324

>>54061264
IS treasury bonds

>> No.54061577

>>54061264
Yes. It also doesn't matter because >90% of the USDC supply would have to be redeemed for that to be even an issue. I doubt >90% of USDC is even liquid. BUSD for example literally shut down and still has like 8 billion outstanding.

>> No.54061710
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54061710

>>54059918
hmmm where have I heard that before

>> No.54061728

>>54059888
Tomorrow they will announce that USDC is to risk and they have to back down and cause a full blown crash, potentially to the banks holding USDC as well.
CZ wins again.

>> No.54062173

>>54061710
What an odd thing to say SBF!

>> No.54062209

>>54061710
>Le snarky twatter post carries the same weight as reserve reports fully audited by AICPA
I wish some new tiktok trend would start encouraging you subhuman zoomers to jump off roofs.

>> No.54062253

>>54062209
>Le snarky twatter post carries the same weight as reserve reports fully audited by AICPA
Ok, it's 50% of that, but I can't go lower.

>> No.54062358

>>54061112
Yea this is the answer to the question posed by OP. The fact that it hasn't repegged shows the uncertainty the market has about the claims Circle has recently made about users being able to redeem USDC 1:1.

>> No.54062728

>>54062358

this.

Circle is basically offering around FREE 5% and whales out there aren't even jumping to take that opportunity.

>> No.54062747

>>54062209
>>54062253
>>54040159

>> No.54062776

>>54062728
free turds on the ground outside, go eat up faggot

>> No.54062833

People trying to get ahead of the Monday sell off, once Coinbase reopens USDC conversions

>> No.54062854
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54062854

>>54062728
i jump in UST few months ago so i have nothing left to jump in USDC

>> No.54063406

>>54060006
Based schizo

>> No.54063450

>>54062728
You have zero data to back this up.

>> No.54063474
File: 82 KB, 1280x1080, 1665857119019054.jpg [View same] [iqdb] [saucenao] [google]
54063474

Because the chart looks eerily similar to UST before that completely collapsed.

>> No.54063493
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54063493

>>54062854
yes with your $58 life savings ESL retard, let the adults talk

>> No.54063647

>>54062776
Kek

>> No.54063677

>>54059827
it will moon soon

>> No.54064070

>>54062728
Whales did buy it up, but its a weekend and there is no way to get more money into crypto right now. Tether is max shorted in most defi protocols right now, you can't long USDC anymore. Come monday morning there will be a max dash to wire money in and buy before it repegs.

>> No.54064798

>>54060101
I dumped my dai and took 50% in btc to my cold wallet rest in eur ready to withdraw max

>> No.54064938
File: 227 KB, 1080x1662, 1678589306253197.jpg [View same] [iqdb] [saucenao] [google]
54064938

OH IT'S GETTING PEGGED ALRIGHT

>> No.54065223

>>54061046
I'm pretty sure that's exactly what they did, covering their liability hole by buying cheap USDC, I mean shit you can fucking see the pattern on the chart from the bottom.

>giga nigga buy
>let the panickoooors panic sell
>scoop the bottom with another giga nigga buy

Rinse repeat

>> No.54065406

>>54059911
SVB didn't actually lose any money; it's just all locked up in long term treasuries. If you look at USDC's breakdown you'll see that 80% is already stored as treasuries, so adding another 8% to treasuries isn't going to change anything.

>> No.54066191

>>54060002
Until the next bank collapses ofc or they lose more money.
Muh fractional reserves

>> No.54066251

>>54065406
There is absolutely no need to "re-peg" it as long as they let people redeem USDC 1 to 1. It'll repeg itself once people understand that USDC under 1.00 is free money. Although they sure as hell want to buy them up themselves because it's free money for them.

>> No.54066298

>>54059827
Your fucking gonna die poor. Better buy stop low caps and start a new life

>> No.54066624

>>54064798
That's how my girlfriend stole from me because she knew my password. Fucking decision

>> No.54066977

>>54059827
Monday is gonna be bloody...

>> No.54067235

>>54062776
It ain't over oldfag but if it does I've got a backup plan, an identity management protocol is a good ride.

>> No.54067254

i'll show you a peg

>> No.54067338

>>54067254
Show me some good pussy

>> No.54067371

>>54060090
>be me
>whale
>”bix nood”
>crash crypto

>> No.54067374

>>54066298
I'm slurping ENS ORE. Web3 projects are trending.

>> No.54067731

>>54066251
The fundamental makes this certain and i am buying USDC at this dip to add to my smart vault on SpoolFi.

>> No.54069706

imagine holding usdc when CHAD TETHER exists.

>> No.54070311

>>54061577
30 billion
The volume since depeg, buddy

>> No.54070398

>>54065223
Show it on the fucking blokexplorer then
They know their coin is dead, why risk it?