It’s so weird to think that Circle’s stable coin USDC is in trouble because they put their money into a bank and the bank bought US Treasuries with it.
By normie standards they did the safe thing.
Capital markets are FKT!
Fractional reserve banking is beyond FKT!
There are so many fissures in todays global systems.
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It’s more accurate to call it “fictional reserve banking”
Fractional reserve was in the good old days
