Woah looks like it’s not just USDC but also DAI and USDD.
If three of the top 10 stablecoins go down in my opinion all current stablecoins will go down.
Topic: What happening with USDC? - page 3. (Read 346 times)
Not really sure how all these stable coins work but how did a stable coin that is supposed to be equal to one US Dollar go down in price? 
circle just confirmed yesterday 3.3 billion of its reserves were in silicon valley bank that went bust
Stablecoins are privately issued.
Just because circle says it’s worth $1 doesn’t mean that the market sees it this way.
It will be interesting to see how this plays out. If USDC dies like UST I think the stablecoin market is finished in its current form.
If a super centralized Organisation with this much backing goes under honesty nobody stands a chance.
There is only one entity that can say $1 USD is worth $1USD and that’s the US government.
Just because circle says it’s worth $1 doesn’t mean that the market sees it this way.
It will be interesting to see how this plays out. If USDC dies like UST I think the stablecoin market is finished in its current form.
If a super centralized Organisation with this much backing goes under honesty nobody stands a chance.
There is only one entity that can say $1 USD is worth $1USD and that’s the US government.
Not really sure how all these stable coins work but how did a stable coin that is supposed to be equal to one US Dollar go down in price?
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