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2023-11: Warosu is now out of extended maintenance.

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54045219 No.54045219 [Reply] [Original]

https://www.circle.com/blog/an-update-on-usdc-and-silicon-valley-bank

While USDC can be used 24/7/365 on chain, issuance and redemption is constrained by the working hours of the U.S. banking system.

USDC liquidity operations will resume as normal when banks open on Monday morning in the United States. As a practical matter, our teams are well prepared to handle significant volume, built on the strong liquidity and reserve assets discussed below.

As a regulated payment token, USDC will remain redeemable 1 for 1 with the U.S. Dollar.

>> No.54045268

>>54045219
why couldn't they release this news yesterday. so fucking stupid. this has to be some insider trading or manipulation bullshit.

>> No.54045278

>>54045219
Trust us goy

>> No.54045288
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54045288

>>54045219
LET'S GOOOOOOOOOO

>> No.54045298

>>54045268
Naw, probably a legal thing. They likely have more information now. You can't just say whatever the fuck you want when you are a 40B enterprise you stupid fucking weeb neet. Get a job.

>> No.54045318

>>54045298
no need to be a cunt. i deliver packages for a living you incel chud

>> No.54045330
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54045330

>>54045268
I took their silence as a signal that something was seriously wrong and sold to fiat for 80c on the dollar. Wish I hadn't been on the computer for a couple days. Fucking hell.

>> No.54045335

>>54045318
this is the internet cunt. your worldview is too simple and a lot of things in life aren't anyways i unironically love you bro.

>> No.54045342
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54045342

>>54045219
OOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO

>> No.54045352

>PEOPLE SOLD A $1 STABLECOIN FOR 88 CENTS
>PEOPLE SOLD A $1 STABLECOIN FOR 88 CENTS
>PEOPLE SOLD A $1 STABLECOIN FOR 88 CENTS

HAHAHAH HOLY FUCK GET FUCKED YOU MORON CUNTS LMAO

>>54045268
they had to give themselves time to buy the dip. now they owe 10% less which is around $4bn of the market cap so more than they lost even if that cash goes to zero which it wont anyway. probably healthy cut for themselves too

>> No.54045354

>>54045268
LOL, how can you even wonder about this. Every sane person knew that this was just a panic move and they obviously wont "rush" the repeg if it means more losses than needed.. depegging for a few hours is a nothingburger in this case cause everybody knew their reserves and backing. imagine falling for obvious fud mostly driven by doomers that are looking for a LUNA 2.0 when this is like not even close to that scenario.

>> No.54045356

>>54045330
no one says anything rapidly when you have so much money on the line. one small mistep and you could fuck things, similar to how all the chaos coming from bank runs and not actual balance sheets. next time don't panic especially when the writing on the wall was that things were going to be okay.

>> No.54045358

>>54045219
I made this meme

>> No.54045453

>>54045268

because they are frauds probably. get out now!

>> No.54045465

>>54045330
imo you did the right thing ultimately. I don't care what anybody thinks. shit like Luna happens fucking fast. and the will to act and survive, there's nothing wrong with that.

>>54045335
yes and my feefees were hurt anon. <3

>>54045352
those fuckers! I got out with the coinbase 1:1 in time, so i didn't lose anything. but im still pretty annoyed by this shit.

>>54045354
hey panic moves are still panic moves, self-preservation/keep your head on a swivel. fucking ftx/luna/celcius. cant let yourself get raeped

>>54045453
im out already so not too worried. started DCAing as well.

>> No.54045482

>>54045219
WE DID IT BOYS 15.5K VERIFIABLE BOTTOM, LITERALLY THE PENDING ENTIRE COLLAPSE OF USDC BARELY PUSHED IT BELOW 20K

>> No.54045490

>>54045219
Coinbase bought tokens at 0.90 and now can cover liquidity crunch

>> No.54045496

>>54045482
yeah i was hopin to slurp but fucking hell btc whales are stubborn. SELL ALREADY YOU GREEDY FUCKS

>> No.54045515

>>54045490
>coinbase has to buy tokens that it itself makes

>> No.54045525

>>54045219
>everything will be fine on monday
>trust us goys
you baggies will cling to anything

>> No.54045550

>>54045515
Makes sense. What should it do? Produce them out of thin air?

>> No.54045577

>>54045219
Remember when you were 7 and you walked in on your mom with that cast iron boner in her mouth. Well, I'm your uncle Dejeraldis. Remember me?

>> No.54045600

>>54045268
>this has to be some insider trading or manipulation bullshit

They were scooping cheap USDC to offset potential losses from califaggot bank

>> No.54045601

>>54045490
This. Why the fuck would they give up a 100% safe opportunity for a 10% gain? Theres not even anything illegal with it because they can just say they were trying to maintain the peg.

>> No.54045614

>>54045515
Better buy them for 0.90 than redeem them for 1.00

>> No.54045616

>>54045352
This is less funny than that people paid $1.10 for USDT.

>> No.54045640

>>54045219
lmao what a fucking cope all they did was burn their own assets to prop up the peg, i bet behind closed doors usdc is close to collapse, monday should be fun.

this is just starting you retards im looking forward to reading the crying very shortly

>> No.54045655

>>54045601
1.05/0.88 = 1.19

19% if it temporarily overcorrects like tether did

>> No.54045662

>>54045268
Because this has been a stress test for the new cbdc. USDC has passed.

>> No.54045690

>>54045662
thats a good call. thats some hopium tho

>> No.54045741

The banks are scamming retards to become exit liquidity

>> No.54046251

>>54045219
No different to Sam Friedman saying nothing was wrong with FTX days before it insolvent. They allowed USDC to depeg over the weekend and that is enough for customer confidence in their stablecoin to drop.

>> No.54046293

>>54046251
Tether has depegged dozens of times and nothing has happened.

>> No.54046308

Does anyone have the wojak "yeah I'm thinking we're back" webm pleaseeee

>> No.54046362
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54046362

Oopsie poopsie

>> No.54046419

>>54046308
usdc overvalued, it shouldn't be .97

>> No.54046431

>>54046419
I know that's why the webm is more relevant than ever

>> No.54046520

>>54045268
You are beginning to learn

>> No.54046776

>>54046293
>Tether has depegged dozens of times
Tether going to 0.991 briefly is different to USDC going to 90 cents for more than a day

>> No.54046915

>>54046776
Newfag

>> No.54046972

>>54045219
>This coin's main benefit is that it's tied to legacy banking practices.

So crypto was just a big meme, huh?

>> No.54047003
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54047003

>>54046915
tell me again when Tether depeged to 90 cents for more than a day

>> No.54047211

>>54045268

Only retards fell for the FUD and actually expect USDC to fail. Even if SVB doesn't find a buyer and doesn't have assets exceeding liabilities after the Feds sell all their branches and liquidate the entire business, Circle has been earning 5% APY on tens of billions of dollars worth of US Treasuries. They can fill a couple billion dollar shortfall if they had to.