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/biz/ - Business & Finance

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54036381 No.54036381 [Reply] [Original]

OK so I'm gonna try ONE MORE TIME to explain reason to rightwing retards on why there are problems with USDC.
And I'll keep in mind this time that I'm talking to rightwing retards, so I'll keep it very basic.

You know NOTHING about the financials of the company.
OK?
NOTHING
There is NO audit of this company.
It's NOT public.
It files NO 10Q because it's not public. The SEC doesn't require it to file a 10Q.

Those of you posting that it's been "audited" for the funds are posting an attestation report. That is not an "audit".
Those 2 things are totally different.
The "attestation report" only attests to the fact that a sum of money of 40 billion dollars exists somewhere, in some form, in the custody of the company Circle.

But that does not mean that money is "backing" USDC.
Doesn't mean you'll get it if you go to withdraw.
Because the company has no audit.
So it can have all sorts of leveraging to other people first.
It has payroll.
It has rent to pay.
Electricity.
Other expensises.
All sorts of shit.
Investments (all of which are going down the shitter right now, no doubt).
Ever hear of an investment term called "LEVERAGE RATIO"?

This is a VERY similar situation to what happened to FTX. You JUST got burned by that and still haven't learned your lesson.

This is why democrats wanted to regulate this space, so these stablecoin providers had to have transparency, which Circle does not have.

AND to top it off they just lost 3.4 billion in the Silicon Valley Bank collapse.

And yet I know all of you STILL won't be able to understand

>> No.54036424

Basically, EVEN IF IT GETS BACK TO PEG, that doesn't even mean you're out of the woods. The issue is with the debt, the liability, incurred on the company which you don't have an concept of because it's not a publicly traded company and it has submitted to no audit

>> No.54036743
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54036743

This Jew here is kvetching about how democrats are the good guys when the FTX crisis literally
Exposed their DNC/ Ukraine money printer .


The absolute audacity of you kike
shills. And to think you literally get paid to shill like this using us taxpayer $

>> No.54036765

>>54036381
fuck off schizo

>> No.54036775
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54036775

kill your self OP

>> No.54036783

SVB is owned by Jews, pierced, tagged, collared. USDC depeg and debt is due to SVB shenanigans and largely usury as a whole. Stay ass mad lol.

>> No.54036803

>>54036381
>There is NO audit of this company.

https://cointelegraph.com/news/auditors-reveal-usdc-backing-as-jim-cramer-sounds-alarm-over-tether-s-mad-money
>Multi-national tax advisory firm Grant Horton conducted the audit

>> No.54036808

>>54036381
you didn't have to put bot triggers in your post.
anyway, yes it's over.

>> No.54036911

>>54036381
wow you are so smart anon

>> No.54037032

$0.9 stable coin

>> No.54037070

>we know nothing
>Investments (all of which are going down the shitter right now, no doubt THIS I KNOW FOR CERTAIN! NO I AM NOT CRAZY!

>> No.54037086

>>54036783
Sources on the Jews. Nothing on wiki & don't care enough to search for 30 minutes for one j word. Thanks, fellow Jew haters.

>> No.54037233

Bank collapses. Money in the bank was backing stable coins. This causes stable coins to collapse. So we need more regulations on the stable coins?

>> No.54037254
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54037254

PLEASE OP SHUT THIS THREAD DOWN

>> No.54037262

>>54036381
>This is why democrats wanted to regulate this space, so these stablecoin providers had to have transparency, which Circle does not have.

Retards think the government is trying to stop them making money when in fact the government is trying to protect them

>> No.54037778

>>54036381
> You know NOTHING about the financials of the company.
Probably true.
>OK?
Ok!
>This is why democrats wanted to regulate this space.
Ha! Now we know what you’re up to, you shitbag shill.
Cryptocurrency is still in its infancy. Big problems will crop up and they will be solved.
Congress is not in its infancy. We know what these politicians are up to and when any one of you shitbags start telling us to give more power to Team Red or Team Blue, pretending that there is a difference, that’s when we know what you are up to.
Sage.
All fields.

>> No.54037831

>right-wing
>left-wing

Stopped reading there. You aren't part of /biz/. We never talk in those terms here. Piss off outsider.

>> No.54037844

With jews you lose.
America will never learn

>> No.54037864

>>54036381
i know one thing you'll never be a woman.

>> No.54037900
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54037900

>>54036381
i'm still not getting it.

>> No.54037901

>>54036381
Shut up baggie

>> No.54037950

>>54037262
>when in fact the government is trying to protect them

where have i heard this one before

>> No.54037987

>>54036381
>eth/tether baggies

>> No.54038003

>>54036381
>right wing retards
Because leftists have proven to be able to run an economy for the past century now
Moron.

>> No.54038011

>>54036381
ok so the jews did all this?

>> No.54038067
File: 3.19 MB, 5616x3744, Covid-19%20coronavirus%20vaccine[1].jpg [View same] [iqdb] [saucenao] [google]
54038067

>>54037262
>The government is trying to protect you goyim!