That's very bad news for crypto. If USDC goes down, lots of banks and other institutes will go down with it. Hell it even might affect USDT and other stable coins too. This has the potential to create a total meltdown on crypto and if crypto gets affected that widely then it would affect the stock market. That would create a very big hole in the markets.
But why is that happening now? Is it because Powell's hawkish speech or was this planned long time ago?
I feel like something very big and very bad is coming towards us.
But why is that happening now? Is it because Powell's hawkish speech or was this planned long time ago?
I feel like something very big and very bad is coming towards us.
Probably this is the aftershock of FTX collapse once again since the fund involves is just circulating on all the project that get bankrupt.
I saw this image that explains graphically on these companies connected to each other through USDC funds.
I’m expecting more company will follow since USDC has a lot of exposure. What puzzles me is the DAI. I still don’t see their involvement to USDC while it’s token is depegged on same level with USDC. Let’s wait for the full report.
I smell that this move is related to CBDC preparation.
