Replying to Avatar ODELL

usdc would have went bankrupt with silicon valley bank if the gov didn’t bail them out

now it is being ushered in as a corporate cbdc by trump, congress, and tech bros
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hoppe2 5mo ago 💬 1

Those who praise stablecoins claim that unlike banks, stablecoin issuers hold 100% reserve funds of the money deposited by customers, so they are safe. But it seems they don’t know where the money is actually stored.

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ede3d957... 5mo ago

They hold it in cash or in fractionally reserved bank accounts. LOL.

Of course they hold it in fractionally reserved bank accounts. They just don't like when Tether does the fractional reserving on top of theirs.