If the world ends today, the only thing left behind will be S9s and cochroaches. They are the only two things that could survive any event that will wipe out life entirely.
Anyone know notice that SVB has the same letters as BSV but in a different order? It was doomed to fail with that acronym.
There is an effort to try and calm the public. A bank run is always possible in the world of zero fractional reserve requirements.
https://www.cbc.ca/news/business/silicon-valley-bank-failure-explainer-1.6776182
When will normies ditch the Ukraine flag and start flying a Silvergate or Silicon Valley Bank flag in support of all those who lost their funds?
Infinite will soon be redifined as the amount of USD in circulation.
It was inevitable that any USD (or another currency) backed stablecoin would collapse due to liquidity issues. Regardless of what you hear, they aren't entirely 1:1 backed and can suffer liquidity issues. This problem is amplified when the bank(s) they are using fail. Sadly, there are people in this world who rely on stablecoins for a variety of reasons and they are the people who will suffer the most.
As stable as Liz Warren
USDC followed the science, wore a mask, got vaxxed, 5x boosters and stayed home for 2 weeks.
Result?
They lost the peg.
This saga proved that all stablecoins are at risk. They are all shitcoins and could collapse at any time.
Even if USDC gets back to parity, people have lost faith in it. Only those who have no other options will continue to use it.
DAI, another algorythmic stablecoin, has lost parity.
All stablecoins are shitcoins
"...Canada Pension Plan Investment Board were small holders in Silvergate."
CPP rugged again
NDP keep proving themselves to be irrelevant when it comes to Canadian politics.
CPC - grilling the Liberals about Chinese interference
Bloc - also on point about Chinese interference as well as healthcare services decline
NDP? - still angry about profits made by big oil
It looks like Hut 8 is getting the green light with respect to their merger with US Bitcoin
They are pretty cool. I have both the mini and micro. In fact, I gave the micro to the wife as a Christmas gift so she can watch the price of Bitcoin while she is at work 😄
Does it look as stupid in person as it does in photos?