/biz/ - Business & Finance

[Anonymous No.54024198]

USDC IS DEPEGGING
IT'S FUCKIN OVER

[Anonymous No.54024267]

>>54024198
Lucky me, borrowed a bunch of those against wbtc and eth, free money

[Anonymous No.54024273]

>>54024198
So they've damaged the dollar?

[Anonymous No.54024295]

>>54024198
ITS FUCKING OVER

[Anonymous No.54024348]

I'ts ok, i'm all in on solana.

[Anonymous No.54024381]

>>54024198
go to curve and take a screenshot of the swap rates

[Anonymous No.54024486]

Why is it doing this? It's even lower now.

[Anonymous No.54024516]

>>54024198
imagine not longing this 20x
you'd have to be medically braindead

[Anonymous No.54024525]

>>54024486
just like every other month, TETHER IS IMPLODING no BUSD IS IMPLODING no USDC IS IMPLODING

and then nothing happens, it's just short term mass paranoia crazed swaps from one stablecoin to the other

[Anonymous No.54024652]

should i panic sell?

[Anonymous No.54024717]

>>54024652
cant you hold real usd on kraken

[Anonymous No.54024739]

>>54024652
No, personally I'm going o borrow a bunch of USDC. And pay it back in a couple hours when it recovers.

[Anonymous No.54024747]

>>54024486
fud around USDC holding some reserves in Silvergate, SVB, and Signature.

>>54024652
lol no

>>54024717
"Real" usd on kraken is an IOU from kraken, no better than USDC. I use kraken, not ripping on kraken. But don't hold fucking dollars, buy btc/eth and withdraw to your own wallets.

[Anonymous No.54024774]

>>54024747
anything on a cex is an iou, so yes we agree in principal. but usd ious are likely to be going less volatile than stable coins

[Anonymous No.54024801]

>>54024774
Right, but I'd rather hold USDC in my own wallet, than USD on a CEX. Because USDC's backing is way more solid and transparent than any CEX.

[Anonymous No.54024847]

>>54024801
just buy btc or eth

[Anonymous No.54024890]

>>54024652
imagine panicking about $1k. I have $100k on the line right now and I'm just going to hold because im le giga chad fr fr.

[Anonymous No.54024934]

>>54024198
TETHERCHADS WW@. WE WIN AGAIN

[Anonymous No.54025035]

Dai depegged for like 5 minutes during the 2021 collapse. I just laughed. Not like I could've done anything anyways. Gas was $700 and the cexes were all down.

Immediately back where it was supposed to be when the smoke cleared.

[Anonymous No.54025146]

>>54025035
>the cexes were all down.
I remember that

[Anonymous No.54025866]

>>54024198
This is bad

[Anonymous No.54025905]

>>54025866
cheap stable loans

[Anonymous No.54025974]

>>54024198
USDC will not go below .99. Worst case Circle and Coinbase just cover any losses from SVB deposits.

[Anonymous No.54026274]

>>54024198
kek I held through the tether flash crash last year and now I am in the same pickle again

[Anonymous No.54026302]

Imagine not shorting this with leverage.
Few hundred bucks into a luna short would have changed your life.
Round 2 is right in front of you, will you seize it?

[Anonymous No.54026321]

>>54025974

cool, just hit 0.989

[Anonymous No.54026323]

ALL HANDS
ON DECK
REPORT IN

[Anonymous No.54026341]

>>54026321
well that's not good

[Anonymous No.54026374]

WHAT THE FUCK I CANT TRADE MY USDC ON POLYGON

[Anonymous No.54026375]

usdeeznuts

[Anonymous No.54026465]

I can't fucking sell what the actual fuck

[Anonymous No.54026473]

I'm scared. I lost almost all my money in UST and saved what was left in USDC, now this thing is depegging.

[Anonymous No.54026485]

>>54026465
is it happening to you too? I keep getting errors on every dex I use

[Anonymous No.54026520]

Fuck fuck fuck am I actually going to lose everything because of some shitty bank run meme

[Anonymous No.54026521]

>>54026485
they are overloaded. Use an rpc that not every nigger uses.

[Anonymous No.54026572]

>>54024198
Why is USDC depegging if it's USD that's about to collapse? They're both going to be equally worthless in a few months.

[Anonymous No.54026583]

>>54026521
ITS NOT THE RPC I HAVE A PRIVATE RPC I AM GETTING A CONTRACT ERROR

[Anonymous No.54026610]

>>54026583
share contract address, I am interested

[Anonymous No.54026649]

>>54026572
The USD supposedly backing USDC was deposited at Silicon Valley Bank.

[Anonymous No.54026654]

oh just saw the other spam thread
Astro turf - go back to your containment thread boomer

[Anonymous No.54026759]

>>54026649
The vast majority of usdc reserves are tbills, of the small part that is cash only a small fraction would be in SVB, and they wouldn't lose 100% of that, but probably get most of it back if not all if SVB is bought. And even if usdc did lose money their reserves print money from the interest and backers would just shore it up.

>>54026572
In the short term the peg can do anything because panic selling

[Anonymous No.54026811]

Just short BTC on 1x leverage and get paid funding why do people do the stablecoin meme

[Anonymous No.54026848]

All the big players are offloading their USDC right now. You can still trade on Curve.

Thank me later.

[Anonymous No.54026901]

>>54026811

would have worked out great if you were using ftx to do this

[Anonymous No.54026919]

Kek at this thread full of (((anons))) defending usdc. These antithesis to crypto parasites really do lurk / create a presence on /biz/

[Anonymous No.54026935]

what is USDC? sorry i'm from /v/ i know very stupid

[Anonymous No.54026946]

>>54026610
IM TRYING TO BRIDGE TO BSC USING STARGATE NOW, I WAS ABLE TO BUY STG FOR WHATEVER REASON BUT COULDNT BUY ANYTHING ELSE NOT EVEN MATIC

[Anonymous No.54026972]

Fudders aren't you tired ?

[Anonymous No.54026978]

>>54026465
Thanks for playing!

[Anonymous No.54026990]

>>54025866

[Anonymous No.54027043]

>>54026972
cope jew

[Anonymous No.54027076]

>>54024348
>another kike

[Anonymous No.54027089]

>>54026473
Just hold it in bitcoin or litecoin or even ethereum.

Stablecoins are a meme for trading and banks are even a worse meme due to ridiculous cuck your customer regulations (fucking paul kruggman had his account frozen last week until he proven he was not a drug dealer)

[Anonymous No.54027113]

>>54027089
I think a move to BTC might be smart, ultimately I'll probably power through this. It sounds like only a small part of the reserves were in that shit bank and Blackrock is managing things. They would be able to eat a loss like that.

[Anonymous No.54027152]

Its over if you hold USDC id dump it now or youll be looking UST levels by monday.

[Anonymous No.54027167]

Uh bros, why is it getting worse?

[Anonymous No.54027194]

Retard here.
What is USDC?

[Anonymous No.54027204]

>>54027167
UH OH

[Anonymous No.54027203]

Run.

[Anonymous No.54027217]

>>54027167
because crazy apes are currently forcefully shorting it with up to 180% interests expecting terra-luna, likely getting liquidated

[Anonymous No.54027231]

>>54027217
holy this guy is on a another level of copium

[Anonymous No.54027236]

>>54027167
Why are they doing this?

[Anonymous No.54027238]

>>54027167
Damn, going to zero just like with tether during the luna crash!

[Anonymous No.54027256]

>>54027231
wut? I have a few usdc loans, if it goes to 0, great then I can pay back pennies on the usdc for my loan, if not, nothing happens

[Anonymous No.54027428]

>>54026649
True if big

[Anonymous No.54027545]

>>54026321
If you're using any kind of aggregator it's trading for over .99 on chain

[Anonymous No.54027574]

coinbase is too big to fail

[Anonymous No.54027623]

Lets do a countdown biz all the way to 0

Ill start

97cents

[Anonymous No.54027633]

>>54027545
It's trading below 98 cents on a few CEXes now, Bybit for example.

[Anonymous No.54027686]

>>54027633
Coingecko is a aggregate of all major exchanges.

[Anonymous No.54027726]

>>54026919
IF WE ALL DONT SELL NO ONE WILL LOSE

[Anonymous No.54027732]

THREAD THEME
https://youtu.be/h-z9A1-O4oI

[Anonymous No.54027762]

>>54024198
omg, it is down LESS THAN A PENNY
ITS TRULY HAPPENING

[Anonymous No.54027763]

>>54027686
Well, this is going to be fun. No sleep for me tonight I guess.

[Anonymous No.54027777]

>>54024198
>tfw we didnt go to the moon

im fucking depressed lads my crypto dreams have become nightmares

[Anonymous No.54027795]

>>54027762
Yes its a stablecoin, its only job its to keep a dollar peg. When it doesn't it then has 0 use case, absolutely none. Are you retarded?

[Anonymous No.54027840]

>>54027777
witnessed, it's actually pumping my bastards. everybody getting rid of their usdc for cryptos

[Anonymous No.54027854]

I was holding USDC to buy LINK under $5. What to do

[Anonymous No.54027856]

>>54027795
no, its job is to stay somewhat stable. and if it is going to trade lower, great for crypto longers

[Anonymous No.54027868]

>>54027795
so just buy it and get that penny for free
all the retards that sold for less than a dollar will come back and try to reclaim that penny
just stop making it sound like the sky is falling

[Anonymous No.54027871]

GUSD is trading at par with USDC despite no links to SVB

[Anonymous No.54027890]

IT'S GOING TO BREAK 0.98. GET IN HERE BROS ITS OVER

[Anonymous No.54027894]

>>54027854
Convert your USDC to USDT, and wait a few more months to buy sub $5 LINK

[Anonymous No.54027904]

What does this mean for crypto?

[Anonymous No.54027940]

>>54027868
its astro turfing shitposters from /smg/ they don't understand stable coins or crypto, they are just pissed that nobody wants their stock and etfs let alone bonds

[Anonymous No.54027945]

>>54027904
It's actually bullish since everyone is buying shit to leave from stablecoins.

[Anonymous No.54027960]

>>54027904
It's a good stress test on Defi and more motivation to get some kind of decentralized stable to build around.

[Anonymous No.54027971]

>>54027904
A lot of protocols and coins are going to burn. Stuff like Curve will fail. BTC will pump and ETH might follow.

[Anonymous No.54027977]

I know absolutely nothing about crypto. How does a coin that’s supposed to stay pegged to the dollar drop below a dollar?

[Anonymous No.54027986]

>>54027940
Post nose, kike

[Anonymous No.54027999]

>>54027977
The coin is backed by actual US dollars. Supposedly that cash was in the Silicon Valley bank, so there is nothing backing the coin.

[Anonymous No.54027998]

>>54027977
People sell it more than they are buying.

[Anonymous No.54028028]

>>54027986
go back boomer, nobody wants your lame ponzis from the 1980s

[Anonymous No.54028040]

>>54027977
https://www.coindesk.com/markets/2023/03/10/scrutiny-falls-on-43b-usdc-stablecoins-cash-reserves-at-failed-silicon-valley-bank/

[Anonymous No.54028050]

>>54027999
this isn't how crypto works, it doesn't need to be backed by something outside of the blockchain (see bitcoin)
the blockchain is a store of energy and with energy prices this high there's intrinsic value
AHHHHHHHHHHHHHHHHHHHHHHHHHHH
SAYLOR AND MAX KEISER LIED TO ME
SELL SELL SELL

[Anonymous No.54028057]

>>54028028
Reddit is down the hall and to the left. Now post nose.

[Anonymous No.54028080]

how do i short this thing

[Anonymous No.54028085]

>>54028028

[Anonymous No.54028099]

>>54028057
you need to go back to your containment thread boomer, spam a few more /smg/s maybe somebody else then the usual retards are going to post there then, rather not

[Anonymous No.54028119]

>>54028057
Jesus fucking Christ did you really have to post that

[Anonymous No.54028121]

>>54028080
2 ways
you go to binance and short it with usdt or crypto
or you go and use an on chain lending and borrowing protocol and borrow usdc using eth or wbtc as collateral and then sell the borrowed usdc

[Anonymous No.54028135]

>>54027999
There's so little cash in that bank in the first place though. Circle has its assets in like 15 different banks. Why the hype?

[Anonymous No.54028155]

>>54028135
/smg/ boomers have been spamming the board for hours. They are salty nobody cares about their 1980s ponzis

[Anonymous No.54028167]

>>54028135
There was so little cash because it was "invested". 1/15th of USDC's value is now gone. It's going to drop even more.

[Anonymous No.54028178]

>>54026302
where can you short usd?

[Anonymous No.54028182]

>>54028099
Wasted digits. I will enjoy watching the dollar clap the ever loving fuck our od your ponzi coins.

[Anonymous No.54028201]

>>54028182
you mean the dollar that got fucked today or rather since September by shitcoins like Yen, euro and even canadian fucking dollars?

[Anonymous No.54028207]

I got ur peg

[Anonymous No.54028232]

>>54028201
No need to show the board how retarded you are. Hows your moms basment? Her bed is a little cheap but her bussy is top notch.

[Anonymous No.54028265]

>>54028232
looks like V shaped recovery on the yen. dxy is going back to 80 when the debt ceiling gets raised. deal with it milkshake slurped, now the glas is empty

[Anonymous No.54028284]

wtf everyone is buying

[Anonymous No.54028309]

>>54028284
Coinbase is trying to prop up its price.

[Anonymous No.54028324]

>>54028265
Be a good little democrat and go ask pedo joe to save the banks then after that do a double front flip off the highest building you can find.

[Anonymous No.54028374]

>>54028284
A green candle on Uniswap popped it to 1.025 for a minute.

[Anonymous No.54028431]

QRD? Ausfag here, do I need to care?

[Anonymous No.54028470]

>BUSD deppeging

[Anonymous No.54028498]

>>54024516
aaaand thats how i lost half my portifolio on UST

[Anonymous No.54028539]

>>54028470
It doesn't have to make sense.

[Anonymous No.54028627]

Why would people sell at a discount instead of redeeming 1:1 on Coinbase

[Anonymous No.54028786]

>>54028627
Because not everyone is a poorfag putting $20 a week into stables waiting to “buy the dip” instead of “forgetting the dip“ when people order McNuggets at their drive thru window.
Some people have millions in stables, and don’t want an IOU from an exchange while we are balls deep in a recession and banks and exchanges are folding like your mom folds your shitty “Crew member” uniform.

[Anonymous No.54028798]

>>54027732
>Nigger music
nigger

[Anonymous No.54028846]

>>54028167
You do realise USDC is profitable right? They collect interest so if 1/15th is theoretically gone they could eat that easily. If somehow its 15+% lost this might be the end

[Anonymous No.54029044]

>>54028178
Most other major countries.

[Anonymous No.54029189]

>>54028324
>trump cuck projecting
go back to your containment board

[Anonymous No.54029382]

>>54028627
panic

[Anonymous No.54029441]

>>54026649
SVB was holding 25% of USDC cash reserves, thought I have no idea how much is the cash reserves over the total amount. They usually hold bonds

[Anonymous No.54029507]

Tether bros... we won.

[Anonymous No.54029510]

>>54029441
Not quite
https://decrypt.co/123199/silicon-valley-bank-crypto-companies-contagion
25% of USDC reserves are held in cash, and a portion of that 25% is held by SVB. We don't know how great a portion.

[Anonymous No.54029632]

>>54029507
This makes zero sense to me. I thought both were backed by dollars

[Anonymous No.54029639]

>>54029510
Large enough they aren't able to met withdraw request clearly. It's over for cb

[Anonymous No.54029687]

>>54028627
You can't redeem if cb doesn't have the dollars.

[Anonymous No.54029739]

>>54029687
Hilarious part is like I'm retarded and work min wage but even I got my shit on metamask
Just how retarded are people that still have major holdings on exchanges?

[Anonymous No.54029759]

>>54029739
Greed. Staking is free money if you don't lose it all.

[Anonymous No.54029814]

>>54029632
High volume of swapping USDC to Tether due to the uncertainty of USDC being fully backed after the SBV fallout is causing this, also why Bitcoin is pumping.

[Anonymous No.54029919]

$0.955 USDC on Metamask

[Anonymous No.54029929]

Hello, Anons, what's the best way to profit from liquidity pool stacking? Should i enter it when the price is low, when it's high or when it's stable? Asking for a friend

[Anonymous No.54029999]

>>54029929
Price doesn't matter, it's about volume. Right now there are a lot of transactions on stable coins, so it'd be a good time to enter. But don't enter into a pool with USDC if you don't think it'll recover.

You earn a percentage of every transaction. More trades, more profit.

[Anonymous No.54030002]

So if USDC depegs further and has a USTC like crash, how can we profit from this? Any shitty lending protocols out there with a hard coded Oracle price for USDC?

[Anonymous No.54030033]

>>54030002
Shorts.

[Anonymous No.54030050]

>>54030002
I just checked all the big ones, they all do it right. But I doubt USDC will go that low because at the end of the day its >90% collateralized even if all its SVB deposits go to zero.

[Anonymous No.54030061]

>>54030033
Actually, you can borrow as much USDC as you can on platforms like AAVE and IMMEDIATELY sell it.

[Anonymous No.54030084]

>>54030050
Even if that's the reality, if retards run for the doors and create a bank run we'll see a crash all the same

[Anonymous No.54030173]

>>54030002
holy shit i know one w 100,000,000 in supplied collateral, for the taking once USDC hits 75%

[Anonymous No.54030189]

>>54030173
Ho shit - name?

[Anonymous No.54030267]

>>54030189
sorry this ones taken

[Anonymous No.54030284]

>>54030084
There should be a shitload of support at 90-92 cents because its way over collateralized even if they don't reopen redemptions. And if they do its an instant 10% gain.

[Anonymous No.54030300]

>>54030267
Enjoy the gains fren

[Anonymous No.54030330]

>>54030284
And that's assuming SVB deposits go to zero, which there is a 0% chance of, its likely all or most of that will be recovered.

[Anonymous No.54030389]

>>54029189
I will not leave this board untill there are window jumpers. Its been what i have been saying for a year, i want double digits faggot. BBBY CFO doesnt count.

[Anonymous No.54030463]

ohshit usdc 0.935

[Anonymous No.54030513]

Circle is trying to push the price up.
https://twitter.com/ddisparte/status/1634395755648630784
The smart move would be to start buying this shit up at 0.93, but that's only a 5% profit. And I really want to see this shit burn.

[Anonymous No.54030546]

>>54030513
Well its literally free money at 92 cents. I'm not sure why anyone would sell it for <90 because even if they shut it down right now they can pay out 92 cents. And if they open redemption on monday like they said its an instant 10%.

[Anonymous No.54030567]

>>54030546
They could allow you to redeem right now. Telling you that you can redeem later is their damage control while they prepare for the worst case possible.

[Anonymous No.54030598]

>>54024198
tourist passing though, what the fuck does this mean?

[Anonymous No.54030629]

>>54030598
If USDC collapses it'll have huge implications on American banks. It would be very bad for a lot of people. It's not like Luna, where it's just average Joe's loosing their money.

[Anonymous No.54030633]

>>54030567
I think there is just less liquidity on the weekend, so they literally can't redeem right now, because they're probably exhausted all their 24/7 payment mechanisms.

[Anonymous No.54030773]

>>54030633
If there's no money for transactions, where are they getting all the money they are using to buy back USDC? They are trying to push the price up as you can see from the tweet >>54030513

They are only concerned with saving themselves at the moment and keeping USDC afloat, they don't give a shit about redemptions. If USDC doesn't recover, there will be no money for them to give you when you try to redeem. Anything they have left will go to the banks and corportaions that are invested in USDC.

[Anonymous No.54031036]

>>54030546
people like you truly are the definition of gullible

[Anonymous No.54031103]

>>54030773
The backing is in tbills and bank accounts which can only be accessed monday to friday. So coinbase doesn't want to credit people and then wait till monday morning to see if they can redeem for $1 or not. But circle could liquidate USDC for 92 cents on the dollar right now with the other 8 cents whenever they get it from SVB. The question is when and how much of a haircut they might take if any. So coinbase is not going to redeem people 1:1 on the weekend, they are watching their own ass over USDC peg.

[Anonymous No.54031256]

>>54028135
>Circle has its assets in like 15 different banks
Its actually 7. Three of them are Silvergate, Signature, and SVB. Maybe you have heard of them. Signature is next.

[Anonymous No.54031456]

DO NOT REDEEM SIRS

DO NOT REDEEM THE USDC

[Anonymous No.54031673]

>>54024198
Literally a nothingburger or I lost all my money xD
https://www.circle.com/hubfs/USDCAttestationReports/2023%20USDC_Circle%20Examination%20Report%20January%202023.pdf

[Anonymous No.54032156]

>>54030567
Banks are closed on weekends, Einstein

[Anonymous No.54032200]

Guys I have 100k USDC, what do I do?

[Anonymous No.54032245]

>>54028431
we're surprisingly well insulated from yank bank boogaloos.
better than bongs and asiatics at least. be shant more than a blip compared to the 80s

[Anonymous No.54032261]

>>54032200
Just wait it out ;)

[Anonymous No.54032365]

>>54032200
Cry

[Anonymous No.54032406]

>>54028057
fuckin' gnarly dude. That's downright feral.

[Anonymous No.54032449]

>>54031103
Oh good they are in bonds that have probably lost at least 30% of their value in the last year and a half. All is well!

[Anonymous No.54032472]

91 CENTS
91 CENTS
91 CENTS
91 CENTS

[Anonymous No.54032479]

>>54028057
my fucking god why

[Anonymous No.54032481]

>>54032472
$0.94 as per nomics.com

[Anonymous No.54032526]

>stablefags getting the rope

its beautiful

[Anonymous No.54032639]

>>54027998
Behind every sell order, there is a buy order. Retard.

[Anonymous No.54032642]

>>54032526
It is repegging my basterds. When will people learn BTC is safer than stablecoins.

[Anonymous No.54032694]

I want to kill myself I had 200k in usdc

[Anonymous No.54032711]

How the fuck is it still dropping this makes no sense

[Anonymous No.54032727]

>>54030513
>>54030546
Can't believe I share a board with retards like these. The upside is a single digit % gain. The downside is TOTAL LOSS.

[Anonymous No.54032738]

>>54024747
>"Real" usd on kraken is an IOU from kraken, no better than USDC.
What about Euro? is that also an IOU from Kraken?

[Anonymous No.54032748]

I told my normie friend to buy Bitcoin a few months ago. I told him about cold storage and he shrugged it off saying he would buy a hardware wallet once he had a few thousand saved in BTC. His BTC is in Coinbase, should I call him and tell him to withdraw? I have a feeling that Coinbase might go under due to their USDC holdings.

[Anonymous No.54032763]

>>54032711
Everyone is bouncing ship

They do NOT have even close to enough cash or liquid assets to cover a bank run like this.
70% of the shit backing USDC is treasury notes that cant be sold because they bought them when they paid sub 1%

Shit
Is
Fucked

[Anonymous No.54032782]

>>54030330
>>54030284
>>54030050
I need more hopium. Or be honest and tell me shit is about to go to hell and I should switch everything to Kraken's euro or even Tether.

[Anonymous No.54032799]

>>54032782
USDC will repeg when the stabilization mechanism is activated in the morning.

[Anonymous No.54032809]

>>54032748
Where the fuck am I suppose to hold my shit? I bet even if I held it in Euro on Coinbase or Kraken ....

[Anonymous No.54032816]

>>54032799
Can you provide any source for this?

[Anonymous No.54032829]

>>54032809
Hardware wallet. How do you not have one as a euro bro? All the manufacturers are headquartered in France or Czechia.

[Anonymous No.54032834]

>>54032799
When is that? 8 hours? or on Monday?

Also why would it if they have nothing to back it up with?

[Anonymous No.54032845]

>>54032809
In a hardware wallet, as BTC.
Why didn't you listen?

[Anonymous No.54032847]

>>54032748

I really don't think this impacts Coinbase in a significant long term way. The individual assets, well, thats a different story

I guess if you're that worried you could always sell all your BTC to USD, buy ETH, transfer ETH to metamask, and then convert ETH to wBTC while he waits for his hardware wallet

[Anonymous No.54032856]

just bought at 0.925
easiest +8% of my life

[Anonymous No.54032857]

>>54032847
Do you see BTC going lower?

[Anonymous No.54032873]

>>54032856
where the fuck can you buy?

[Anonymous No.54032911]

>>54032856
I checked Kucoin and I can't buy any right now. What exchange are you using?

[Anonymous No.54032921]

>>54024198
I got 300k sitting on a cex, someone tell me how I can profit from this

[Anonymous No.54032922]

0.89 on kraken

[Anonymous No.54032927]

>>54032799
in the "morning"
lol a stable coin needs to always stable

[Anonymous No.54032936]

>>54032911
??? I'm margin trading it on Kucoin right now. Its trading at 0.9 right now.

[Anonymous No.54032951]

USD Coin Price (USDC)
$0.8888

[Anonymous No.54032960]

>>54032799
Good i'll short it more, they are insolvent, just because they do some magic to keep 1 usdc = 1 usd does not change the fact that they are insolvent as fuck. they are fucked.

[Anonymous No.54032962]

>>54032799
This, and Bancor will give you back your LINK when the market stabilizes. Everyone should remain calm.

[Anonymous No.54033001]

>>54032763
Are they holding, and now having to liquidate the same types of bonds that the bank who lost their deposit did? Lmao

[Anonymous No.54033024]

Why does it feel like half the shills in this thread are just newfag retards who weren't here last year during the UST collapse?

[Anonymous No.54033041]

>>54032921
go to aave, put usdt as collateral, withdraw usdc as debt (with stable APY). convert usdc to anything, to be safe convert it to usdt. then put that back in aave to get more debt or just park it somewhere. keep your risk at 1.5 levels, they are both stable coins, so even 1.2 levels are ok. if they manage to save usdc, it'll go back to $1 not $100 so liquidation risk is very low. at worst you'll pay apy difference between debt and collateral but with current rates you actually make money if usdc recovers. if not recovers you just made 2x.

[Anonymous No.54033052]

>>54033001
Yes

The banks are failing because the exact same reason. Not enough liquid assets to cover a run

[Anonymous No.54033055]

>>54032936
I tried to execute a market buy and it didn't go through, but I guess it might be my shit connection. To be honest it's not worth it for me right now anyway since I only have $2k USD to spend, so I'll just leave it

[Anonymous No.54033096]

>>54032857

Yea to like 12k but idk I didn't account for this so who knows maybe it doesnt

[Anonymous No.54033098]

I can't believe this. It's completely depegged.

[Anonymous No.54033120]

>>54032847
>transfer ETH to metamask
enjoy losing those Eth

[Anonymous No.54033137]

>>54033052
It's quite shocking that they didn't see this coming. Did they not anticipate the rate hikes compromising their ability to liquidate those long maturity low interest rate pre-hike bonds quickly or did they think that it would never come to a situation where they'd have to cover a large amount of withdrawals?

[Anonymous No.54033160]

>babby's first general liquidity crisis
you will never redeem the USDC
you will hold the bag
and you will work at mcdonalds and serve me tendies

[Anonymous No.54033206]

>There are anons itt that just panic sold below $0.89
kek, it's already regaining it's peg

[Anonymous No.54033325]

>>54030002
>dude its UST all over again
Third world pajeets can't spot the difference between an algorithmically stablecoin and a stablecoin 1:1 backed by actual dollars.

USDC will be safe
https://www.circle.com/en/transparency#usdc-reports

[Anonymous No.54033343]

>>54033206
It looks FUCKED to me mate

[Anonymous No.54033344]

>>54025974
Ermmm...anon?

[Anonymous No.54033434]

USDC, USDO, and DAI depegged

[Anonymous No.54033465]

>>54033434
fuck, I meant USDD

[Anonymous No.54033487]

>>54024801
hold dai you dip dolt

[Anonymous No.54033499]

>>54033137
It's hard to tell what anyone was thinking when they made the decisions that lead us here, but I, for one, can't wait to learn more.

[Anonymous No.54033511]

>>54024198
No fucking way I'm selling my USDC for 88¢ I'd rather lose it all. But let me tell you it would be the last fucking dollar I lose to crypto

[Anonymous No.54033543]

>>54033511
>But let me tell you it would be the last fucking dollar I lose to crypto
because you'll be out of dollars?

[Anonymous No.54033555]

>>54033543

[Anonymous No.54033557]

>>54033511
lol same

[Anonymous No.54033592]

>>54033511
I have DAImond hands fellas.
Never selling

[Anonymous No.54033619]

>>54033592
dai has exposure to usdc

[Anonymous No.54033661]

>>>54033511
how much do you have anon? because i wouldn't care if i had 20 usdc either

[Anonymous No.54033667]

>>54033137
>It's quite shocking that they didn't see this coming
It's crypto. Nothing makes sense, as usual.

[Anonymous No.54033672]

>>54025974
>USDC will not go below .99.
Hahahahahaha.

[Anonymous No.54033674]

>>54033619
Thanks for explaining the joke sir

[Anonymous No.54033697]

>>54033511
were close boys

[Anonymous No.54033701]

>>54033137
>>54033674
not really shocking, at all.

[Anonymous No.54033721]

people still play around with this boomer tier crypto shit? lmao

[Anonymous No.54033753]

lmao I was thinking about moving most of my savings over to USDC yesterday. Being lazy has it's upsides.

[Anonymous No.54033762]

wonder how many niggers shorting btc via usdc got liquidated by this

[Anonymous No.54033887]

>>54033661
I HAD a kajillion but as if now it's only a bazillion. I don't understand how something with US in the name can fail?

[Anonymous No.54033914]

This is why you never hold stables. BTC is the stable coin niggers.

[Anonymous No.54033931]

>>54033914
Because BTC has never dropped 10% before.

[Anonymous No.54033952]

>Was holding some USDC because I put money in coinbase as an onramp but was waiting on ETH to come down a bit more and used their stablecoin instead of putting it back to cash.
>Switch it over to arbitrum to take the better liquidity pooling options available since the price hadn't impacted yet (only 2%)
>Switch takes to long with the panic on the network that the swap isn't complete until that price has effected the arbitrum pool too
It was a couple hundred bucks but unfortunate, I should've moved it over to BTC immediately. Not the most expensive lesson I've had to learn the hard way about dicking around with stablecoins in hand.

[Anonymous No.54033967]

>>54033931
BTC has always recovered. Stablecoins like UST and soon-to-be USDC don't recover from drawdowns like this.

[Anonymous No.54034012]

>>54033952
Meant to say learning about dicking around with stablecoins isn't the most expensive lesson, the last time I fucked up was coincidentally not tethering/cashing out when I needed to and getting rekt swinging down.

[Anonymous No.54034133]

Frens I want us all to make it

[Anonymous No.54034180]

>stablecoins keep dying
>normies keep buying them

clockwork

[Anonymous No.54034266]

>>54024890
based and same. good luck

[Anonymous No.54034285]

>>54024198
AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA I HAVE 40K USD OH MH FUCKIGN GOD

[Anonymous No.54034303]

>>54033967
i bought BTC at 60k, tell me again how it always recovers

[Anonymous No.54034321]

>>54033967
USDT has. Also, BTC hasn't recovered from it's recent 70%+ draw down

[Anonymous No.54034373]

>>54024198
Listen up everyone this is financial advice
If you have USDC at cuckbase and a cuckbase (TM) debit card, try to buy something you need or something you can cash out with the card
I suggest buying gold online if you are betting on this shit going to 0

[Anonymous No.54034454]

>>54034303

1 BTC still equals 1 BTC doesn't it?

[Anonymous No.54034609]

>binance USDC trades opening in 5 hours
Its about to get worse.

[Anonymous No.54034674]

>>54024890
Why dont you buy BTC with it? I dont understand you ???

[Anonymous No.54034681]

>>54034609
It's going back to 1. Watch. Easy money.

[Anonymous No.54034797]

>>54034681
this is not the face of something that's going anywhere but down

[Anonymous No.54034809]

Easy 10% profit here, buy USDC at $0.90 then sell it at $1. USDC is backed by Circle, Blackrock, Coinbase it is not some shady business like LUNA gambling with user deposits. Unfortunately Circle held some of their USD reserves in SVB and consequenctly won't get it back anytime soon resulting in the depeg.

[Anonymous No.54034826]

>perfect dead cat bounce

crypto is fucked lmao

[Anonymous No.54034848]

>>54034809
>it is not some shady business like LUNA gambling with user deposits

He forgot about Scam Bankrun Fraud and FTX who also had partnerships with guess who; circle, Blackrock and the WEF.

[Anonymous No.54034850]

>>54024198
wtf? i thought USDC was supposed to be the trustworthy one? what happened?

[Anonymous No.54034911]

>>54034674
why would btc pump if all the crypto fiat onramp banks are getting decimated and techbros are losing their jobs

[Anonymous No.54034966]

>>54034809
Blackrock and the wef aren't going to pour billions in this lmao

[Anonymous No.54035010]

sirs we are mooning

[Anonymous No.54035020]

>>54034850
They backed about 10% of their stuff in a fraud bank that went insolvent and is going to decimate the tech job sector as a whole,

[Anonymous No.54035031]

>>54034911
Because with all these bank runs occurring, and all the future bail-ins and bailouts, the trust in the legacy financial system will be eroded.

[Anonymous No.54035131]

>>54026302
Giving you a (you) because nobody here's noticing your bait.

[Anonymous No.54035341]

>>54034809
>Let's take the risk to lose 100% for a mere 10% gain

[Anonymous No.54035513]

>>54024890
Just switch stables wtf

[Anonymous No.54036085]

>>54035513
Where?

[Anonymous No.54036202]

Max Keiser predicted this. Time to become a BTC maxi.

[Anonymous No.54036358]

how could this happen, i was told crypto is the future.

[Anonymous No.54036373]

>>54034454
1 usdc still equals 1 usdc
Absolute state of you fags

[Anonymous No.54036427]

>>54035020
>in a fraud bank

***bank

ftfy

[Anonymous No.54036530]

FUCK

ALL

STABLECOINS

LET THEM DIE AND ROT

[Anonymous No.54036593]

>>54034797
>he’s never seen a V shaped recovery

[Professional Bag Holder & Lambo Owner No.54036635]

>>54036593
fucking this.
MY LUNA STAYS BABOONA.

[Anonymous No.54036759]

>>54035341
Trade it with 500x leverage for a 5000% gain and still only max 100% loss.

[Anonymous No.54036766]

>>54034911
Because BTC has nothing to do with fiat. Lol

[Anonymous No.54036813]

>>54036759
You can't trade it with leverage, at least on Kucoin.

[Anonymous No.54036821]

>>54028627
Yeah, about that...

[Anonymous No.54036828]

>>54034674
He thinks he can time the market.

[Professional Bag Holder & Lambo Owner No.54036882]

>>54036821
oh no nonononono AHAHAHAHHAHAHAHAHHAH

[Anonymous No.54036916]

>>54036427
just say jew this isn't reddit

[Anonymous No.54036928]

Vitalik is buying usdc
In the the last 5-6 hours he bought like 500k USDC..

>>When everyone is fearful (now), be greedy.

[Anonymous No.54036930]

>>54036821
what about usdc>usdt?

[Anonymous No.54036951]

>>54036930
Sure, you can still exchange your USDC at the fair market value of 0.9 USDT

[Anonymous No.54037062]

>>54036821
lmao

[Anonymous No.54037157]

>>54028057
bro what is that

[Anonymous No.54037172]

>>54036821
uhhhhhhhm b-b-b-bros??

[Anonymous No.54037269]

>>54026375
>usdeeznuts
gottem!

[Anonymous No.54037402]

>money is on sale
This is so free.

[Anonymous No.54037669]

so this whole thing shows the issues with centralized stablecoins, but DAI is also taking a massive shit since its algorithm is backed partially by, you guessed it, USDC.

How can DAI be fixed to stop relying on centralized stableshitcoins by proxy?

[Anonymous No.54037965]

>>54037669
DAI's depeg is already an irrational market overreaction, it has depegged by almost as much as USDC despite it being at most 50% of the collateral per DAI, meaning it should only depeg 50% of what USDC does, at most. In practice even less since collateral is not the only mechanism for the DAI peg.

But of course it was still a mistake to ever allow opaque stablecoins to become collateral for Dai in the first place, not to mention without the overcollateralization ratio of other collateral assets. At least they didn't allow UST.

[Anonymous No.54038096]

>>54036821
>Hodl mode engaged

[Anonymous No.54038353]

>>54036821
hahaha I can't believe you fucking idiots still use CEX's come the fuck on at this point there's SO many DEX's with literal 1 button interfaces it's just embarrassing to see you guys normie struggle

[Anonymous No.54038459]

>>54034809
wow im sure nobody else is thinking the exact same thing
the problem with this is that as soon as it starts nearing 1$ people sell and drive the price back down, and then people start selling sooner and sooner until youre back where you started and it just trades below peg until the redemption mechanism can be restored or it collapses

[Anonymous No.54038543]

>>54036530
Basado

[Anonymous No.54038661]

Honest question: once a """stablecoin""" depegs more than 10 cents like that, it's pretty much over, right? I mean it's perceived use as a $1 equivalent is done for, right?

[Anonymous No.54038690]

>>54038661
Only if you sell. If you hold it'll go back up