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It hit 88c brieflyGod I'm praying for those anons who won't find out about this until they wake up in the morning.
87 cents and going straight down
>>54032990christ, just a few seconds ago it was 93
>>54032919Circle is encouraging this. They can buy back their own USDC at a discount, covering the hole in their balance sheet from retarded panic sellers.
>>54032919Get fukt>not a single dime in usdc. All assets on cold storage. GGs
>>5403299085 now
82 and falling
84 FUCKING CENTSFREE FALLING NOW
>>540329190.88
So how is this not literally free money?
>>54033013Looks like i moved everything to cold storage just in time
Stop trolling you fucking retards
>>54033035it's either literally free money or you lose everything. roll the dice
>>54033035its going to 0>but its collater-lol
>>54033035if you're shorting it to 0, absolutely
>>54032974I'm praying they fucking neck.So many chances I gave you stupid faggots testing your spirits.Three years you guys failed.Now you die.
its fucking over
THIS IS NOW A .75 WAITING ROOM OOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO
I have over 100k in usdcFuck my life to pieces
>>54033035people are likely just scared. worst case scenario usdc lost a small portion of its reserves. or maybe more bank runs are coming. maybe this is 2008. either way retail plebs will be the last to know.
thank god i sold mine at 0.98 and i thought i was paranoid
Lmao retards are panic selling and wiping out their entire savings. This is bullish in the long run
A 69 CENT USDC JUST FLEW OVER MY HOUSE
But you told me it's safe, how is it possible
>>54033035Exactly what retards like KSI thought when this happened to LUNC/UST and you retards are making the same mistake again BAKA
>>54033070Fuckin kek
should I buy 250 dollars of this
>>54033110everything making sense now?
>>54032919oof!
>>54033070https://youtu.be/H1UyTNbGc8MFUCKING YIKES
FUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUCK
>>54033130And again low iq nu pol is psyoped.
>>54033006Now this schizo theory I want to hear more about.
>>54032919Ok, so what does this mean? Even if it goes to zero, how does that affect the larger economy?
>>54033070Uniswap says you can buy 60 Ethereum with it so 600k in the bullrunDamn i wish i was you i would buy and forget
>>54032919BUSD AND TETHER CHADS REPORT IN
>>54033070I'm thinking lol, maybe lmao even
>0.54It's over
>>54033070So why are you posting here instead of exchanging it asap retard?
What’s the point of anyone exposing themselves when the only upside is 10% and the risk is -100%?
>>54033174I'm going to hold off for a bit, a 3.2 Billion loss on ,40Billion means we're still backed to $0.92I'll let it stabilise around 0.95 and right off my loss there
>>54033070over 80k*** and falling
>>54033152>polrent free kek
>>54033196if probability of circle failing is less than ~9% then you win.if you feel adventurous you can use leverage
>>54033171it consolidates stablecoins around fewer participants-ALL- stables are unbacked magic funny money, the fact that Tether didnt go first is hilarious, but ultimately if this cascades into full stablecoin apocalypse I guess we get 8-12k BTC cheapies is what you're asking right.
>>54033200>he thinks the other banks are safesocietal collapse is coming. fucking read zerohedge instead of cnn
>trusting a centralised shitcoin
ZHONGGUO STRONKBLOCK BUY ORDER AT $0.8888
>>54033215Because you get psyoped by every two more weeks bullshit>>54033191>Panic
>>54033233The time to sell was 2 hours ago. Now's everyone's in a panic. We will see how it goes in a few hours.I've lost $20k but my NW is still high 6 figures so I'll live.
>>54032919>they just revoked my N word passIt's over.
>>54033232On the contrary. Most of the funds will go into coins instead of stableshit
>>54033250>seething so hard he needs to bring pol everywhere like a passive aggressive little bitch >>>/reddit/
>>54032919>Had a few hundred bucks of these Mickey Mouse Playhouse goycoins on decentralized wallet >Couple hours ago hear about this and decide dumping the shitcoins is smarter than hoping to save $50 on gas and realized losses from usdc dumping in the event usdc recovers >Swap that shit to ETH >Get to watch this train wreck that I'm no longer involved in
>>54033280Dude i was on pol myself long time ago its just the new pol.
>>54032919what a fucking scam, no matter how coinbase did in the bull market this piece of shit never mooned, but now they're struggling and it crasheswhy the fuck aren't goyim allowed to make money?
88We're fucked
>>54033295>X
>>54033308Cause white men will overthrow the government the instant they help each other.
I just bought. this will be the easiest gain of my life when it repegs eventually
>>54033152>>54033250>>54033295let me guess, its only straight white men that made these stable coins? You've enlightened me anon. I'm going to donate all my crypto profits to ukraine and isreal right now
Can I short this on kucoin?
>>54032919on its way to 50 cent
AIEEEEEEEEEE
this is getting bad
>>54033314well it was at 83 earlier
Get in AMPL lads, it was built for this purpose
>>54033322>>54033350Dont buy stables just hold Eth/BtcBitcoin was made for this. All that i heared from pol side was muh collpase buy stabels
>>54033035Backed stablecoins are bound to get a big failure but so far even tether has recovered from depegs, so yeah if it's just as it was in the past then its free money
>>54033419ahh I see>>54033246already broken, .79 soon
I have all by funds in trust wallet USDC. What should I do? Honest question. Just wait it out or swap to what coin?
I sold $300k in USDC on Robinhood for $300k today. It's one way to get out, USDC anons
>>54033439Circle actually has incentive to keep it depegged if they can just buy it back up themselves and repeg on Monday when Coinbase stops fucking with withdrawals. Imagine generating 10-25% profit on each $.75 you buy before bringing it back to peg.>>54033480USDC most likely isn't going to 0, but it will go lower until the fog clears on Monday.
>>54032919does this affect the buying power of the physical dollar or is this just a crypto thing
>>54033509>I sold $300k in USDC on Robinhood for $300k today. It's one way to get out, USDC anonsLooks like they halted trading and it's no longer 1-1.gg
Imma gonna eat my neighbor, nannynana na....BUY RUBLES NOW
>>54033547Just a crypto thing. Unless what's causing this depeg ultimately results in another banking crisis later on.
can someone post the picture with an ATM saying that internet money isn't real and to get a job to a pink wojak
>>54033035Gas fees in swaps and transfers will eat any chance you have at making a profit. Unless you have hundreds of thousands you dont mind moving around.All of /biz/ should be taking this opportunity seeing how you're all multi trillionaires and not just LARPing atreet shitters
>>54033566USD DEATH SPIRAL
>>54033529And who’s gonna buy it? Good luck with that
>>54033594It’s ogre. It’s ogre
>>54033547
IF FED BAILS OUT ON MONDAY, THAT WILL SET OFF A GLOBAL CONTAGION AND WILL NOT FIX THE PROBLEM...ITS EITHER USD AND USA GOES DOWN, OR USA TAKES EVERYONE WITH...SO, SORRY YANKEE JOE, IT'S BEEN NICE,LOVE YA....BUT BUH BYE
>>54033604It's free money for arbitrageurs, knowing they can exchange 1 USDC for $1 again.
Britbong reporting in. Just woke up and what the actually fuck is going on. Have I actually just lost 12% overnight? What should I do bros? Sell at a massive loss or wait until things go back up?
>>54033668you don't seem to get the gravity of the situation....usa has no money, never has, usa has the psychologically manipulated population that thinks it does...usdc=0 usd=0, dumped like a ton of brics
>>54033717Damn what a hell of a thing to wake up to
>>54032919I am unironically ruined
>>54033717Give me your money nigger you owe me for your countries bullshit.
>>54033717Option 1: Hope it doesn't go to 0 and maybe rewarded with your 10% back Option 2: Take a 10% loss and swap that shit to Eth right now
Get fucked.
>>54033780It's already going back to 1.
>>54033529Wort time for it to happen, ofc. It seems opponents can only hurt it short term. I will wait it out, I don't think I can lose a HUGE percentage in the long run. It's backed to some decent degree, so no reason to anhero.
>>54032919I am here from other boards.How much is USDC tied to USD?I am a little scared.
>>54033772For fucks sake, you stupid fucks said Coinbase and USDC was safe.
>>54033832Hahah you trusted american jews.
There will be a tidal wave of stablecoin money moving back into the reliables like BTC and ETH, and as people like >>54033717 wake up it will happen in a few hours. Buy BTC
>>54033717It will repeg by Monday
>>54033820If the US economy gets seriously fucked up, think of this as the commercials before the big show.>>54033566
>>54033717See>>54032974
>>54033820Your shit fiat bills are unaffected by this and will continue losing around 10% value this year on their own due to inflation you financially clueless subhuman, get out of here or lurk more
>>54033857I'm sure that's what they said about luna
>>54032919>stable coinVery stable bro. USDT was supposed to be the scam, this was supposed to be good.
>>54033857>>54033867How much do they owe? can they pay it up without liquidating? I'm sure they can't liquidate due to some bullshit with the contract.
HAHAHAHHAHAHAHA I GOT 1 FREE FROM ROBINHOOD. NOW ITS 0.87 DESPITE THEM TALKING ABOUT HOW STABLE IT IS AND WKULD ONLY EVER BE 1.0
That's so interesting. When the last round of USDT fud came around I had everything in USDC and had no issues about it, I defended USDC for obvious reasons. At some point for no apparent reason I changed all to USDT and just kept going on with my life.It's crazy how I keep avoiding all the issues that arise. No FTX exposure, no Celsius exposure, no USDC exposure no LUNA exposure, bought ICP close to the top but something made me sell after a -10% etc. It's like I'm walking a straight line in a minefield and I'm somehow avoiding any harm yet everyone doing the same around me is getting blown to pieces.Am I some kind of savant or something?
>>54033849>reliables like BTC and ETHnigga that shit is crashing tooif anything they'll cash out into their imaginary bong money
Fuck this crab dumping piece of shit coin. Going down faster than you can say Larry Fink
>>54033901Based, same here except I lost a few fingers from an explosion during Blockfi when I let my guard down
>>54033848same difference....merika is a big fat smelly jew, it needs to be gassed and sent to the oven
>>54032919Wait a second... I thought fiat money like dollars and cents were worthless... Did cryptofags lie to us????
Theme songhttps://www.youtube.com/watch?v=QqjRo8Etmzg
fiat made up money was not bad enough for you so you had to create another layer of ponzi with imaginary internet coins around it.You must be bestest of goys if you bought USDC
>>54032919is this going to recover or not
>>54033866Thank. I didn't know. I am backing out of fiat as fast as is possible.
>>54034016Already heading back to 1, probably by monday.
>>54034011well we wanted the convenience of transacting this way. unfortunately, it's relying on the word of banksters
>>54033035>So how is this not literally free money?if you have a coinbase account, yes, it's free moneythe trick here is catching the bottom and cashing out before they run into trouble from 25% of their backing being gone lol
https://www.youtube.com/watch?v=ZcWeE3NMeBQhere kids, its a cartoon, that way you can understand it easier
>>54034034its literally still waterfalling
>>54034034should I stock up on usd coins
>>54032919stable my ass
dude arbitrage bots are going crazyI fucking love this
>>54034048>have a coinbase accountwhat does this have to do with it? do you mean if you're holding your usdc on coinbase?
>>54034061old pennies bro and morgans
>>54034056Was back up to 92 when I last looked.
Am I retarded for thinking this could be bullish for BTC? If I held one of these stables I’d rather flee to something that might dip but inevitably moon in the future
>>54034048you can't buy or sell usdc on coinbase
>>54034094Idk, but I just bought two BTC
>>54032919easiest profit of my life, literally putting life savings into this right now and selling at $1 ahahahahahaha EASIEST MONEY
>>54034025Just don't do anything rash, spend time learning and have some emergency fiat, a few reliable guns and ammo, emergency food like canned meat and vegetables, water filter and stored water You gotta look after yourself
Just bought 10 stacks of fat ass for $.90 USDC am I gonna regret it??****NO FUD
>>54034054>worthless
Stable keks
>>54034129>the nanosecond you posted this a candle shot it down to 87thank you for your service anon
https://www.youtube.com/watch?v=AG8fugqFn9Qsleep on the right side
>>54034167Cheers /biz/bros. I left the game a long time ago. Too stressful for me but I hope you all make it. If you don't laugh, you'll cry.
>>54033901No, you're probably just not playing with any sizeable amount of money so you don't have the normal psychological pressure associated with risk. You basically sound like a larp.
So is that bald headed coinbase faggot deploying his BTC and keeping the lads steady?
>>54034123TOPKEKDon't forget to send pics here before hanging yourself nigger
>>54034054>Watched this stuff when I was a toddler and hardly remember anything >Just watched this clip with soul and fantastic music Is it worth going back and watching this?
How's our little crypto genius doing? Still winning with your bitcoins son?
>>54034248its proly worth it , but do you think dad has anymore money in his sock drawer we can swipe for shitcons
>buy USDC>Long ETH/USDC pair>profitBrainlet here Is this a valid way of profiting off USDC dying or would I get liquidated due to my collateral losing its value? Should I just wait to short the pair instead once/if USDC repegs?
>>54034355fake it till you make it
>>54034227There is a mechanism for repeg at least since if the price falls low enough Circle could even fully cover their 3.3b liability by buying up enough of the cheap USD with their existing liquidity
cliff notes version, usdc ain't going back up, what was backing it was in circle, circle was in sbv....here kids, here's 250k to split up thinking your going to buy in low and it will go back up, I don't think so , the domino has dropped
just keep dropping the price you retards, bought another $1000 just now
>>54034414thats like a mechanism for paying off your credit card with credit cards
>>54034414Seems like he's trying to steady the lads by deploying bitcoin.
>>54034461I don't have any USDC, DAI, or USDD so this doesn't affect me but from what I'm understanding, only 25% of Circle's funds were in SVB and Eric Swalwell seems to be saying that they want to bailout all the deposits (even those beyond 250k). I kind of think there's a chance for Circle to recover if everyone holds out long enough but who knows. It doesn't affect me either way so I'm happy to knock back some drinks while I watch this dumpster fire burn.
>>54034476>plz buy my bagsEven if you're a desperate retard trying to bail out, where can you even buy?
I remember I applied to Circle for a job a year or so agoThe recruiter sent me a dead link to schedule a time to talk and then ghosted me when I emailed back asking for a working linkGet fucked whore
>>54034494It's all random T-bills and stuff, it's not like Circle can't afford it. It's literally locked out of accessing that liquidity because banks are closed on the weekend.
>>54034537uniswap sir
How do i short how can i be a degenerate gsmbler i want to do it with leversge plz i just want to borrow and levarage at x50
>>54034522Yeah, I'm 100% btc and I'm comfy just watching.
>>54034522Wrong math. USDC reserves total ~$40B, of which $3.3B is stuck at SVB. But it's not like that money is guaranteed used by SVB to hopelessly try to fix its balance sheet - probably it isn't, at least not entirely. It's just a matter of finding out how much of that $3.3B is still available for withdrawal now that the FDIC has taken over. https://twitter.com/circle/status/1634391505988206592?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet25% of USDC's TOTAL reserves are in cash, but it's in various banks, not just SVB.
let the heal begin
>>54034651see? back to 1 by monday.
Bought 10k. Let's see if i get a free $1000 out of this.
>>54034642https://twitter.com/circle/status/1634341007306248199Oh, I see. The news article I read misstated that I guess.
>>54034011XMR is the only way. sore pf value and transactions. stable are stable until the are not
>>54033071they lost 3.3 billion in svb, out of 44 billion
>>54034690It's still very fucked up, and lots can go wrong. I just don't see USDC plummeting to 0 like UST. If it's really over, it would be a gradual failure.
>>54034666you will. this is an easy problem to fix
>>54033179busd is done bro, only thing left is tether... i'm scared
I know we are all getting wrecked but Im actually finding this all quite exciting for some reason.
USDC bros, im feeling sick..
>>54034722monero is stable for a non stable coin. stables get the rope
>>54034776thanks for playing
>>54034776oh boy where have we seen this before.Fooking wrecked.
>>54034776>Robinhood in 2021: it’s for your own good, goy >Coinbase in 2023d it’s for your own good, goy
>>54033095how is this bullish in the long run? are you retarded?
Dai is down to 0.93 as well
USDD also depeged
>>54033849Why aren't Eth and Btc going up?
is this an actual happening or am I getting baited again
>>54034939they kinda are
>stables falling left and right>credible Tether FUD by the WSJ>banks collapsingthis is all extremely bullish for BTC. There's nowhere else to turn.
>>54034993there is no way btc won't eat poop by Monday
wtf i thought I had my money in USDC but i checked Binance and it was actually BUSD all this timewell that's a relief
>>54034787Yeah XMR is weird, on the bright side atomic swaps are a thing for XMR on both ETH and BTC now
Exactly like LUNA incident, people will buy up thinking it will go back to $1 then the price goes down another 10 cents, next day another 10 cents and before you know it it's not even worth one cent. Get out now if you are holding USDC, you lose 10% but the risk of USDC collapsing is even greater.
>>54035037binance converted all usdc to busd some time ago
>>54035070XMR is not fucking weird you retards.These are brainlet comments.XMR has a stable value because it's used as an ACTUAL CURRENCY to buy REAL GOODS and not other cryptos
>>54034993>There's nowhere else to turn.
>>54035107wtf i love the chink now
>>54033832I guarantee anons laughed at you when you namedrop coinbase
>>54035070Bro I'm an XMR maxi the price action is still weird>verification not required
>>54034776HahahahahhahahaaGet fucked fiat cucks
More like circling the drain amirite
>>54035085In before aschtually we didnt have 44b we only lost 4b w8 nvm the other 12b where just loans from the first 4b of which now we have 250k
>>54034907DAI is partially backed by USDC.What even is USDD?
>>54034993Should I buy usdc>>54034776
>>54035216Meant for >>54035118
>>54035262What even is USDC?Last month you had $40bn in your house.Last week, you come home and found all your money gone but a note saying "these 6 guys have your money and if you ever need it, just call me and I'll call them to bring it to you"Today you woke up and see on the news that 2 of the guys that are supposed to be holding your money and a lot of other peoples' money actually are fraudulent identities. They don't exist and your money is gone.No issues with that right ?
>>54034993True. I sold my USDC for BTC this morning.
>>54035085LUNA also had a built-in self destruct mechanism that violently accelerated the collapse to the point it was physically impossible to recover even if the entire market tried to salvage it in unison, this is just a show of hands.
>>54033035>So how is this not literally free money?its not free money if it collapses which it looks like it is
>>54035470>True. I sold my USDC for BTC this morning.bad idea. very very bad idea. you wont be able to turn it back into dollars soon.
>safest exchange>conservative leverage>most cash in bank for backing their operations>gets rugged by their bankthis is actually hilarious, stacking up on popcorn and waiting for the delicious loss porn
>>54032919I just bought a lot of USDC with USDThanks for the free 10% returnThink about it, 40B USDC cap, only 3B in SVB(less than 10% already)SVB is FDIC insured, FDIC has more funds than SVB hole size. Maybe COIN account is over insured limits but i dont think they are going to left them to die, they have already issued promisory notes. Not that the would lose 3B, they will recover something on the dollar even if FDIC doesnt want to fill the gap.Even if Circle ends up with a gap COIN has 6-7B in cash they could use to plug the hole. USDC is a cash cow now that bonds pay 5%, they are going to keep it alive.They probably just have problems doing redeemptions on weekends due to Silverbank, Signature and SVB having issues the very same week.You have to be blind to think is going under
900k for 1m, easy money?
>>54035924Anon...
>>54032955God made me check /biz last night, before sleeping, right in the moment the crash begun.Lost only 15 bucks out of 20k.
AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAMAKE IT STOP MAKE IT STOP MAKE IT STOP MAKE IT STOP MAKE IT STOP MAKE IT STOP MAKE IT STOP MAKE IT STOP MAKE IT STOP MAKE IT STOP MAKE IT STOP MAKE IT STOP MAKE IT STOP MAKE IT STOP MAKE IT STOP MAKE IT STOP MAKE IT STOP MAKE IT STOP MAKE IT STOP MAKE IT STOP MAKE IT STOP MAKE IT STOP MAKE IT STOP MAKE IT STOP MAKE IT STOP MAKE IT STOP MAKE IT STOP MAKE IT STOP MAKE IT STOP MAKE IT STOP MAKE IT STOP MAKE IT STOP MAKE IT STOP MAKE IT STOP MAKE IT STOP MAKE IT STOP MAKE IT STOP MAKE IT STOP MAKE IT STOP MAKE IT STOP MAKE IT STOP MAKE IT STOP MAKE IT STOP MAKE IT STOP MAKE IT STOP MAKE IT STOP
>>54035983Only worried a bit about Signaturerest are Too Big Too Fail
>>54035924maximum 10% upside, 100% possible downside. this is your brain on biz
>>54035924>SVB is FDIC insuredSaw somewhere that suggested only about 10% is insured, can anyone confirm/deny?
>>54036805vitalik boughted though.
Just woke up to this shit.2100 USDC, do I just take the L and swap for USDT? God damnit
>>54038472Swap, nigger. Then cry when it goes back to 1.10$
There's no way I'm this lucky right now. I went massively long on ETH using AAVE a few months ago. And I borrowed USDC to do it. So basically if USDC collapses I get this ETH for free?
Just lost a shitload of money and still have 20k usdc on dydx... I saw this shit at 99c but was out of town and got back late last night at 95c and hopes things would be better this morning...
>>54035924>SVB is FDIC insuredUp to 250k/accountDo you think Circle only kept 250k at SVB?
>>54038671I lost like 20K too =/I have a feeling it will recover tho.And Tether will crash.But honestly this has proven your money is not even safe in the bank.I don't even know where to put it in this point.
>>54032919>The great financial banking and fintech collapse>tether may somehow be the only stable coin that surviveslmao.
>>54038322$50kKEK
>>54038632>o basically if USDC collapses I get this ETH for free?Sort of. You may owe pennies on it to technically unlock the loan on AAVE but yes your debt is decreasing. Thats what happened to portaled UST luna on AAVE. You got free money basically since the debt side blew up.
>>54038769man I am a fucking ontario leaf too, dydx is the only futures exchange I can trade on and they only use usdc, I got completely fucked again. Last night 1 usdc was worth 1.38CAD, now its 1.24CAD, and I converted to USDC at around 1.28. Such fucking bullshit.
>>54038898>ON pajeet cryingGood.
>>54038769If only there were some physical store of value that has been used as currency since the dawn of human civilization.
>>54033232Lmfao only 12k? Bro if stables got annihilated, BTC is going back to 8k or 5k. Either that OR alts get fucking RAPED.
it's repeggingthose who sold at 8Xc are at loss
>>54032919the funniest part is all the retards in denial, acting all smug like >y-your gonna regret not buying guys, i-it can't fail, just a t-temporary liquidity crisislike this shit hasn't happened twice already just last yeargod I love seeing copers get what they deserve and just stop showing up
>>54038964The only pegging thats about to happen is the pegging im gonna do to your bussy.
>>54033901How much money are you putting down? A measly 3k?
>>54032919QRD on why BUSD being fucked ?
>>54034546You should email her back saying exactly that. You won’t.
>>54038964>i-its repegging bros, HOLD.>wait wait wait DO NOT REDEEM.
>>54039074Because pappa powpow said fuck your globohomo ponzi. Simple as.
>>54039235>Pappa PowKek
>>54032919Should I buy it?
>>54038282Only individuals are insured up to $250k. A lot of Silicon Valley startups are getting rekt.
>>54033832>he trusted jews with his money
>>54038964>it's repegging>those who sold at 8Xc are at lossit isnt really. its staying just above 90 cents which it will do until all the dollars are gone and it goes to zero.
>>54039298You should short
Cash is king. Good luck if you want to try to hold the bag with the whole situation under development. Just remember to keep your cash savings below the insurance limit and avoid 2nd tier banks
You retards are going to regret not buying. I just dumped 100k into USDC. There's no way it goes to zero. If it did, Crypto would basically die which is never going to happen.
>>54032919>he cashed out and did not hold through the crypto wintermaxi chads win once again
>>54039785Post the proof or post your feminine penis. Or you can post your jew hat, either or.
>>54033232How exactly will you buy a Bitcoin?
If all stables implode can there be a bullrun lol?
>literally nothing happens once againfucking yawn
>>54039919You can buy crypto with fiat on some exchanges
>>54033547How are you this dumb?
chainlink's proof of reserve unironically fixes thisthere would be far less hysteria and speculatory movements if there was a reliable and unbiased way to know much collateral each stablecoin hasmuch like defi exploits basically forced 90% of the scene to adopt chainlink price feeds, incidents like this will also increase the demand for chainlink proof of reserveand if usdc (and the other stables) are indeed insolvent... it will be a shitstorm, but it will serve to remind people that "trust" isn't the way to go and that we already have methods to minimize it, relying on proof and code instead to know the truthcompanies saying "dude it's secured trust us bro we wouldn't lie" just wouldn't do it anymore, especially when alternatives are already heretrustlessness is all chainlink is about
>>54040258Sirgay will dump tokens to pay for it so Link Holders will end up losing even more money.
>>54040258PoR wouldn't have prevented this. The issue here is that USDC had reserve deposits with a bank went bankrupt, not that they didn't have reserves.
>>54032919Hail to the king babyThats what you get for messin' with
>>54041963>my ponzi scam is better than yoursGod I cant wait for tetherfags to get what they deserve
>>54041923Any fiat backed coin can always rug pull its called printing moreCall me when PoW declares insolvency
Missed this ez long gg
95 CENTS. THANKS FOR PLAYING PANICKING POORFAGS
2 Billionish redeemed in 24 hours.The winner is Circle, anybody with banking relationship to Circle, and chads that know basic math.
>>54042756Oop screencap
>>54042650Oh awesome, the """stable""" coins that your entire retarded system of magic internet tokens revolves around only became unstable for one day.Can't believe there are still retards playing in this sandbox now that the era of easy money is over.Crypto is NOTHING MORE than a speculative gambling token to be used when interest rates are at or near zero, and the banking system is raining free money from heaven. Once that stopped, you were supposed to get the fuck out and hold things with actual value.But you retards can't get that through your head, you are going to go down with the ship. So be it.
>>54033070This is my last resort
>>54042816Wrong. Everything in crypto revolves around big daddy btc. Sound money.
>>54042650I’ll say it’s stable when it’s a dollar again. Even then I’m sure this did absolutely nothing to people’s confidence in USDC
HAHAHAAHAHA WASN"T THIS A "STABLECOIN"
Let me see if i get this right.People bought a coin whose only proof of being backed up 1:1 with the American dollar was a "dude trust me"?
It’s really over huh?
>>54042916To my knowledge yes.
>>54042937Is… is this a troll? Does he really think the fed will step in and save them? What happening to the obsession with decentralized untouched by the govt goodness?
>>54042967>the obsession with decentralized untouched by the govt goodness?But who will protect me from my own idiocy then?
>>54034129you're in the money now
>>54042937Sirs...
>>54042916no there are bank accounts and financial statements, that's why it is not really hard to evaluate this situation for everyone with a triple digit IQ .
>>54033232>fact that Tether didnt go first is hilariousTruly.Usdc was the 'lol coinbase will never let it fail' coin.Leverage is faggotry of the highest order.
>>54032990>>54033049>>54033051>>54033314>>54033368>>54033376>>54033719>>54034056uh oh94 and climbingthe dudes who bought the 80 cent USDC are making 20%
>>54043120Please for the love of god stay depegged til opening Monday so people can shit their brains out about coin base and I can pay my college tuition
>>54039339A smaller company my very large company works with had a call with us yesterday, they are broke, all the money is in svb, they were going to there vc's for emergency funding to keep lights on.
>>54038736A few reports are saying 3.3b...
>>54043179the arbitrage is going on through the entire nightpeople are making fortunes arbing curve pools
imagine being stupid enough to sell a dollar for 80 cents LMAO
>>54043318the funniest part is how their bank has even lower % reserves, possibly even 0 (that's why the retarded cali bank failed in the first place) but usdc loses 25% reserve and they start selling
i sold at 90cents brosi lost $150 on a stable coin today
It already practically recovered. I am financially bored.
>>54043464you can buy back in again to break even
>>54043464>i sold at 90cents bros>i lost $150 on a stable coin today150 dude? you're all good. We saw a dude lose $2 million last night among others panic dumping into 5 figure losses.
>>54043269can you (or someone) explain how this works? not even trying to do it, just want to understand what was going on. (people using alts to buy underpriced usdc then sell it back higher, or something more complicated?)
>>54042967Nobody, literally nobody will stick to their principles when it comes to government intervention if it doesn't benefit them directly. Libertarianism /ancap is just fancy wordplay
>>54033066It's not. Circle isn't the 3rd biggest stable coin issuer for nothing. You could get your funds out for your safety but I'm chilled on this one.>>54033258I see BTC having a boost after this because it's the only logical alternative rn outside other stable coins. Tether is also going to see some inflow.
>>54044868Thread?
>>54047620How are you so sure this is minor? Cocky much
>>54048197Because USDC is already re-pegging and it has been a store of value for me, earning yields on SpoolFi. It's really just a minor setback.
>>54033035It will be collapsed like Terra
>>54033035>Wowe 10% free moneyUnless you can invest 1 mill to make 100k, but even then, why would anyone risk capital for a 10% profit promise
>>54048492So you decided to give your funds to some lame ass dude to handle for you?Do y'all not learn from mistakes? FTX is not up to 6months yet.
To all the shitheads rooting against USDC... You realize if USDC dies, DeFi dies? And no, binance is not DeFi.
>>54049005SpoolFi is completely decentralized. It's one of the reference points for a true Defi platform.>>54049113I don't think they realize the magnitude of the kind of effects this FUD can have on the market.
>>54049113>If this Goldman Sachs backed stablecoin dies, it's all over. Doesn't sound like that's the "decentralized" finance I'm looking for. Thanks but no thanks.
>all these retards bringing up LUNA and USTI expected better from this boardI don't give a shit about USDC because I don't hold any 'nor do I hold USDT or any janky stablecoin' but the difference between UST and USDC is way differentUST died because the algorithm behind UST printed an assload of UST when UST lots its peg. There's no algorithm behind USDC to print more USDC, you won't see billions of USDC get printed in an hour like what happened to UST.
>>54032974It hit 86 for a split second last night
>>54049569>>Goldman Sachs backedLIKE WHEN FTX WAS BLACKCOCK BACKED? HAHAHAHAHAAHAHAH
>>54049113I cashed out of crypto. I hope it dies so I can pick up some cheap bitcoin
>>54033233Zero Hedge is fucking garbage.
>>54049687Don't even waste your time using your brain here. This board fucking sucks now.
>>54033035>stablecoin>demonstrating its instability>how is this not free money
>>54049968don’t say we didn’t warn ya
1:1 at kraken again
>>54049569You can always go back to sucking random cocks at truck stop restrooms all across the country. That's also decentralized!
do people unironically use this shit lol
>>54032919Stable is a fable -- pass it on.
>>54041923Then the banks would need PoR as well so the stablecoin issuer can properly assess whether the bank is healthy enough to hold their stash and not do any funny stuff with their funds and the consumer can check the stablecoin issuer's PoR to make sure they're being honest on their holdings on top of being another watchful eye on the bank.
>>54039339500 israeli startupsWe are healing...
>>5403303960% on Cold storage and the remaining 40% on QANX, EFX, and CTSI because I still have degen blood flowing through my veins.
>>54049113USDT and Binance are backbones of crypto, all other shit are pretty irrelevant.