Replying to Avatar The Rabbit Hole

Leaked FDIC document obtained by Bloomberg shows that stable coin Circle USDC had $3.3 BILLION deposited at Silicon Valley Bank when it collapsed 👀

The US government used tax payer money to backstop these deposits 😮
Avatar
Cpt. Charisma 2y ago

This could become a serious problem. Bank fails -> stable coin issuers liquidate treasuries to cover losses -> treasuries fall -> more banks fail -> etc. The only solution is to print more dollars.

Reply to this note

Please Login to reply.

Discussion

No replies yet.