Who knew Christine Lagard was first referring to “stables” when she said that if people needed an escape hatch, they’d use bitcoin? but it only makes sense. This is the first step in the stampede towards store of value outside the failing system.
Discussion
Right. Stablecoins are only as good as the underlying assets. If those assets go away, like they just did 😂 then this is the result.
> Right. Stablecoins are only as good as the underlying assets. If those assets go away, like they just did 😂 then this is the result.
Their assets were in Silicon Valley Bank? I've barely read anything about SVB's failure, but I did see that most of its deposits were not covered by FDIC deposit insurance.
It makes sense for them to get rid of stablecoins. Another bitcoin entry that’s closed..