/biz/ - Business & Finance

I'm seriously so pissed at Gensler, dude would rather tank the entire US economy than relinquish the wealth he's given to him and his cronies

as a dev on a top 100 mcap token we have been having talks to move overseas to continue to operate and take our business to the chinks, this uniroinically might be the tipping point

I thought that CZ was a good guy. Why is he doing this?

>>54032445
Because he's not a good guy and never was. It's only the /pol/ carpetbaggers who ride his dick.

>>54032468
Oy vey adding trading pairs is so chud like?

>>54032468
rent-free :)

>>54032445
Do you even know what this will do to USDC? News flash for you tourists, previously if you deposited USDC it will get converted into BUSD, since BUSD is chastised by Gensler you now have to manually convert it on the open market.
>>54032468
Except pol hates that chink. In fact, nu pol schizoids hate the entire crypto industry.
Not sure why you love to attack r/thedonald so much, when they're the only thing standing between this kosher fake dichotomy system and actual people uprising. You are more similar to them than you might think chuddy.

>>54032468

They fucked CZ with busd and now he's raping them

>>54032400
FUCKING based CZ. KEK. Decentralization will win.

>>54032400
Brainlet here. What does this mean?

>>54032869
people can how short USDC

>>54032869
You'll know CZ wants to nuke USDC if he offered margin into this pair because then everyone can short it. So far there's no mention of margin.

>>54032887
>>54032917
So if there's no margin, then it's just a normal trading pair and no big deal?

>>54032937
Yeah pretty much. Keep in mind that you can access this pair in most CEX already so most people who were panicking and didn't wanna pay gas fees have already swapped their USDC anyway.
Even I'm convinced USDC will repegged back to normal because their SVB deposit is FDIC insured.

>>54032937
>no margin
>in the crypto degenerate world

Lol. Lmao even.

BUSD bros, we just can't stop winning.
Fundus still safus.

>>54033075
I dunno about it repegging to be honest, it just keeps dropping.

Doesn't matter what you think of CZ (he's based btw)
relying on a single stablecoin is a recipe for disaster. If (You) have all your dollars in one stable coin, you're a fucking moron and deserve to be rugged

>>54033075
FDIC insured lol

>>54032400
Everyone in USDC should have just bought link and put it in cold storage. They have no one to blame but themselves. Link is going to go to $5,000 and all they had to do was buy link, buy a trezor, and shove it up their asses for safe keeping and they would have made it. Instead your in some stupid fucking crypto savings account. Why not just keep your money in a bank… or gold. I never trusted these stable coins.

>>54032400
I HAVE HALF MY CRYPTO IN COINBASE
AIEEEEEEEE

>>54032672
>>54032468
|>
|/

>>54033075
250k is FDIC insured. That's not much.

>>54033531
Someone else said it's backed by bonds. The only loss will be the percentage that was held in SVB. ASSUMING nothing else happens. IDK how much binaries can hurt it.

>>54033527
Certified based.
Also checked.

>>54032672
>nu pol schizoids hate the entire crypto industry

implying crypto isn't entirely pushed by chinks and newfags

fuck outta here shitskin

>>54032468
Eat the bugs faggot, you bet on the wrong horse. CZ forever

fuck Circle kikes

what are the chances binance becomes insolvent over the next 4 years?

>>54032425
>as a dev on a top 100 mcap token
get a real job or build a business that helps people

>>54034779

less than 1%

it's very obvious he just wants to run a legit exchange(a fucking money printer) and wouldnt risk it being greedy with leverage like jews do(their greed has no bounds)

>>54032917
>You'll know CZ wants to nuke USDC if he offered margin into this pair because then everyone can short it. So far there's no mention of margin.

Except that USDC still has x amount of reserves and can still be redeemed for those reserves. USDC is not an algorithmic stablecoin. The peg isn't defined by the secondary market, it's at the redemption. USDC still has several options to re-collateralize the missing dollars. If CZ offered margin on USDC, it would only get his users rekt and create more FUD for Binance.

>>54032425
Fuck you parasite

>>54032400
what is TUSD?

>>54033342
Fuck you WEF Israeli scum

>>54036398
seconding this, first time I hear about this shit

>>54033075
>Even I'm convinced USDC will repegged back to normal because their SVB deposit is FDIC insured.

lol. you don't know how much the limit is for insured deposits?

>>54032445
A billion dollars an hour will be made tonight. Tag along with CZ or stay poor.

>>54036398
>>54036437
TUSD=True USD, google it up

>>54036453
That anon is a dumdum. But it doesn't matter. SVB only has a 2b deficit out of ~200b worth of assets under management. Circle has about 7% of their total collateral on SVB (25% of their liquid cash). So in the long run they'll recover most of that 7%. Worst case scenario means Circle lost less than 1% of their backing USD. Considering for how long they have been collecting profit on their notes/bonds they can probably cover all that and then some.

>>54032887
nah it's just a spot pair

/biz/
should i long usdc?
will it repeg?
is this my opportunity at winning?

>>54036513
I don't understand how you get from 7% to 1%.
If people continue to cash out they are eventually insolvent and down billions.

>>54036513
>But it doesn't matter. SVB only has a 2b deficit out of ~200b worth of assets under management.

you havent understood the massive write downs that will happen on SVB's supposed assets.

>>54036535
>should i long usdc?
>will it repeg?

no it will collapse. keep your money out of this crypto garbage.

>>54036554
They cannot "cash out" of SVB. Depositors will lose about 1% of their original deposit. So out of that 7%, Circle will recover 99% of it. I'm accounting for accounting errors and fees. In reality is even more than 99%.

>>54036556
The bulk of those 200b are USD dollars, notes and bonds.

>>54036643

We don't know how much they have in bonds, what if they have like 40% in bonds, people wanna cash out and they have to sell these bonds?

Can't Circle run into their own bank run situation just like SVB?

>>54033393
what are you waiting to convert to BTC and withdraw it all?
to get rugged?

>>54036643
Fair enough, how long will that take though, years? By cashing out I meant if people keep cashing out USDC, at some point they will be insolvent. Let's say they have 3bn missing, even if they'll get back 99% of that after years they are still missing right now. Their only chance is someone helping them out with a loan.

>>54036680
That's whats happening right now. People are panicking and selling their USDC for less than its worth to exit before enough liquidity is available. In the long run this will be an easy 10% for anyone that buys it now. More if you use leverage, but I wouldn't risk it. Scam-wicks will probably reck you.

>>54036729
>how long will that take though, years?
No idea. But once the numbers are clear they can use that assurance to raise the funds elsewhere to keep liquidity. Consider the profit Circle has been making all these years off the USD deposits.

>>54036811
SVB failed because the bonds they had were worthless after rate hikes.

Is Circle not in the same predicament? How are their bonds worth something while SVB's aren't?

is there any usd stablecoin that costs a premium to buy and the premium goes towards maintaining the coin instead of fractional reserve being the means for revenue?

>>54034779
close to 100%
the day china invades taiwan withdrawals will stop

Okay retard here. So I give binance $100 then short, and then when it goes to 0 I'll have 200?

>>54032672
What is pol, newfag?
>>54033527
Kek
>>54033819
Moron
>>54032425
Nintendo?

>>54036453
>>54036513
This is one reason you should ask if there are segregated accounts. Ironically, since Circle can cover it, the large depositors will even come out better than if they had a deposit at SVB directly.

>>54036844
>bonds they had were worthless after rate hikes
i dont get how that happens

>>54034779
Binance is basically money making machine. They don't care what is value of what. They make money when you exchange one crypto to another. Doesn't matter if you lose or win with your exchange, Binance wins everytime. So answers is, as long as cryptos exists, Binance exists.

>>54032468
>>54032445
>not a good guy
Anons? ((Americans)) are the bad guys

>>54037777

>>54037888
Chekked chekked

>>54037739
Using simplified math:
Pretend its 2018. You buy a 10 year bond at 1% interest, i.e. you spend $990 for an instrument that will return $1000 to you in 2028.

Its now 2023 and 5 year bonds are trading at 4%, i.e. you can pay $960 for an instrument that will return $1000 in 2028.

When SVB needed liquidity to cover withdraws they were forced to the bonds they bought at $990 for $960. IRL the price movement are more extreme than in my example since interest rates are annualized, but the point is going all in on long-dated treasuries at low rates means you are fucked if an emergency happens and you are forced to sell them before maturity.

>>54036844
>SVB failed because the bonds they had were worthless after rate hikes.
Depends on the duration. SVB had long duration bonds (MBS is like a 10+ year duration bond). USDC is backed by 0-1y gov bonds afaik. If that's true, there shouldn't be a big problem. If not, then RIP.

https://www.binance.com/en/trade/USDC_USDT?theme=dark&type=spot

>>54033075
>FDIC insured.
but it can take a lot of time. until then the money is blocked.

>>54038619
Hmmm... no lifeboats yet. Why isn't Circle immediately fixing this? The longer this goes on the more trust will fade in this "stable" coin.

>>54032445
>>54032468
Circle is/was literally goldman sachs banking jews and silicon valley VC degens. Them dying is good for crypto.

All we need is for tether to do the same, when unbacked stable coins are dead crypto can heal

>>54038720
Insiders are not done buying

>>54032445
He’s a turbo chink
They have no feelings
He just wants to have more big number in account

Makey mongol face bug feel like big white man

>>54036535
I spread out my risk in multiple holes in the ground
if i lose one silver stack hopefully someone doesnt dig up the other one.
also platinum > gold for ROI while having comparable value density

>>54032400
HOW DARE HE LET USERS TRADE THOSE PAIRS! ITS ANTISEMITIC!

>>54032445
> Man literally wanted to bribe miners to rollback BTC blockchain
> Fuds important crypto imperatives like self custody

He's a greedy chink, not your friend. Will rugpull you without blink of an eye.

>>54032445
He is doing this because he is a good guy.
Let the market do it's thing, isn't this what you wanted anon?

>>54035520
>binance
>honest exchange
you're not serious.

>>54037923
the reason they lose money is because they leverage up to turn that sub-1% into something useful
so instead of losing 5% they lose 50% of their initial capital

I've never bet against CZ and I've never lost.

When will you learn, /biz/ ?
The jews fear the chinaman.

>>54032445
to destroy his competition.
this is an once in a lifetime opportunity for CZ to destroy one of the few real competitors to his own stablecoin.
US economy collapsing or the destruction of the free world matter little to him.

>>54042300
Gensler pulled the trigger first

>>54032425
Gensler is an absolute faggot

By the way, USDC is planned as the foundation for USCBDC, so you should pray for its collapse

I honestly don't even see how USDC even opens on Monday. They turned off the sell button and they think there won't be a mad rush when it gets turned back on?

>>54041940
>>54033670
>Someone else said it's backed by bonds. The only loss will be the percentage that was held in SVB. ASSUMING nothing else happens. IDK how much binaries can hurt it.
Those bonds aren't worth shit right now and they don't even mature for another 8 years. Not even Chainlink holders are this deluded.

How do we profit off this?

>>54032468
poltard here. I worship no bugman.
Chinks are a small step above niggers.

>>54033342
This. I don't like stablecoins, they're too stable. With LINK, price is cryptographically guaranteed to go down.

>>54032445
>I thought that CZ was a good guy.
lol he was never a good he
binance makes money off of trading against their users but since that places is full of gambling addicts they don't care as long as they can gamble

now watch people lose their ass gambling on stablecoins because they think usdc is a repeat of UST

>>54032400
CZ is wrecking the entire US economy. I just can't get enough of it. This guy's face will be in history books

>>54042651
Coinbase is the main method that circle uses to keep the peg, once it's open they can repeg with withdrawals from cash reserves from other banks or liquidating tbills.

>>54032400
Lunc Chads, we will inherit the earth.

>>54044675
Based chinaman rekting ZOG

>>54044854
imagine if he fixed lunc...The God of crypto