Replying to Avatar VOLKER - Voice Of Logic Knowledge Experience & Responsibility

1 USDC != 1 USD

but

1 BTC = 1 BTC
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Alex⚡️🧡 2y ago

Has anyone an idea why this is happening?

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VOLKER - Voice Of Logic Knowledge Experience & Responsibility 2y ago

Banking at risk means less than 100% certainty of getting USD for your USDC. It's called third-party risk, or counterparty risk.

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Mr. L 2y ago

Has this to do with SVB?

Seems to be a ripple effect but don’t know yet.

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rieger_san 2y ago

The Silicon Valley Bank has problems which is holding like 9 billion of the USDC reserves

And it looks like Coinbase has stopped the USDC withdrawal