But as people redeem their USDC the proportion of the remaining supply that is stuck with SVB increases… So… That value decreases with each redemption?
Right. As a bank run or USDC run happens, it just gets worse and worse.
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Being right both feels good and terrifying. What will happen to the lemmings… the trapped minds… the sheep in the valley of darkness. 🤨
Of course they won't allow withdrawals before the whole thing is sorted if it ever does
