Coinbase is pausing all USDC:USD conversions.
(who could have seen this coming🙄)
Discussion
Ok, this is what is going on with Coinbase and USDC.
#[0]
Pretty sure Binance did also.
I have a few hundred $USDC on Coinbase & I can confirm this is true 🤦🏻♂️🤦🏻♂️
... the rugging never ends!
Since it is effectively their coin, how will that affect other exchanges ability to convert (and who would want to buy it, coinbase/circle?)
They have a 1:1 guarantee where they Always give $1 for a USDC, instead of letting it float. Soooo, if it's a couple cents down, people can keep on arbing it.
They probably wouldn't have to delist it otherwise.... yet.
All the leveraging will fail. Banks too.
So circle is depositor at svb?
