1 USDC != 1 USD
but
1 BTC = 1 BTC
Discussion
Has anyone an idea why this is happening?
Banking at risk means less than 100% certainty of getting USD for your USDC. It's called third-party risk, or counterparty risk.
Has this to do with SVB?
Seems to be a ripple effect but don’t know yet.
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
#[3]
Ser,
I'm not so rich😉😂, sats are my unit of account
1 sat = 1 sat