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

/biz/ - Business & Finance

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54035293 No.54035293 [Reply] [Original]

>> No.54035324

Those are people redeeming their USDC for $1 in the circle treasury

>> No.54035325
File: 65 KB, 1080x483, Screenshot_2023-03-11-03-25-23-917_com.twitter.android.jpg [View same] [iqdb] [saucenao] [google]
54035325

>>54035293
VItalik doing his part

>> No.54035336

>>54035293
That is literally how USDC works, anon
Less people are holding USDC, they have to reduce the supply accordingly

>> No.54035348

laughable, this shit is done

>> No.54035349

>>54035293
this whole depeg is just brand new retards who can't tell the difference between USDC and UST handing their money to people who have even the barest understanding of what's going on.
It's literally just a free 10%.

>> No.54035362

>>54035325
lets be honest, money skelly was built from this.

forged from the fires of 2008 to be the face of the next bailout. good luck money skelly. hope you can hold the world together with your powerful arms

>> No.54035375

>>54035349
See you on monday. They are burning & paying themselves/insiders/partners. Which means they sold before you faggots do. Coinbase paused the trade and sent 2B to them, to get 2B in dollars.

>> No.54035377

So do i understand correctly that if all the Tether is turned back into dollars, nobody will be able to sell their Bitcoin any more?

Tether being the mechanism by which Bitcoin is turned into cash?

>> No.54035381

STEADY

>> No.54035388

>>54035377
I don't think so friend, I think Bitcoin has also a decent liquidity in standard USD

>> No.54035391

>>54035349
You underestimate the effect of mass panic selling, you can be 100% correct and still lose it all in these situations

>> No.54035392

>>54035381
LADS

>> No.54035393

>>54035377
its an instrument used to do it quickly, you could still do it very slowly and directly with briefcases of bills or gold bars or whatever.

>> No.54035407

>>54035391
wrong

they're backed. just not in liquid cash. worst case scenario you're getting 90 cents on the dollar

most likely scenario is it repegs to $1 within 1-2 weeks

>> No.54035450
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54035450

>>54035407
Rest assured their last tweet a retweet of an exec panicking about SVB collapse. Full confidence here boys

>> No.54035971

>>54035450

ah a '' federal rescue plan '' . risks and consequences are for plebs

>> No.54036013
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54036013

>>54035407
>they're backed. just not in liquid cash

>> No.54036030

>>54035450
I have confidence in a full blown meltdown!

>> No.54036053

>>54036013
backed. by love and hardwork, trust the plan goy

>> No.54036073
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54036073

This tweet is literally 1:1 with what was happening with FTX before they completely went under

>> No.54036092

How does one redeem for $1? Seems like a great arbitrage opp

>> No.54036093

>>54035293
kike faggots deserve it

>> No.54036112
File: 100 KB, 1656x580, in play.png [View same] [iqdb] [saucenao] [google]
54036112

>>54035293
IT'S OVER

CZ has opened gambling against. Get rich now or die trying.

>> No.54036128

>>54035293
For all you newfags out there, the funds still exist, it's just that they can no longer be touched by anyone, and thus no longer sold.

>> No.54036131

>>54036112
Will you be able to use shorting on those pairs

>> No.54036167

>>54036131
Shorting, leverage, spreads... it's fucking Binance. Billions are going to be made this morning.

>> No.54036191

>>54035450
Dante doesn't know jack shit. The Federal plan is to wind dow SVB and sell their assets off to someone at pennies. SVB fucked up this was their doing.

>> No.54036200

>>54036112
Stablecoin spot trading! Lmao. Not so stable huh?

>> No.54036206

>>54036013
Me on the right

>> No.54036246

>>54035407
>they're backed.
The problem is that they aren't anon.
7% of their reserves are gone.
But I agree, they'll be bailed out either by the government or by Blackrock themselves. Its not that much money considering who is beind it.

>> No.54036363

>>54035450
>jews routinely scamming the goyim
>a black swan event
Lol

>> No.54036388

>>54035324
DO NOT

>> No.54037206
File: 127 KB, 881x703, DqjreAeX4AY94LS.jpg [View same] [iqdb] [saucenao] [google]
54037206

fuck all Circle kikes

>> No.54037229

>>54035325
ok that shows that this is a free money play. vitalik knows exactly what's up, always sold the top and is probably the best connected person in crypto.

>> No.54037240

>>54036363
This
/thread
/life

>> No.54037248

>>54035450

Seething and coping (((execs))). This shit better crash and burn all fuckong week. Fucking crypto should've been nuked the second they didn't need it to bail retards out of COVID hell/QE 4.5.

Nobody should get immunity from malinvestment.