The Fed policy is the main cause for what’s happening now and what’s going to happen next.
USDC is back to almost 1:1.
SVB will be treated like an idiosyncratic case on Monday when the Fed speaks. Then the next meeting, the Fed will raises another 50 bps despite the stress in the financial system.
Smart guy, except he should have one bank in the cyberspace called bitcoin.
Like many people have questions about bitcoin, you should also have questions about bank. Then you compare the two, you figure out which is better system. Then you conclude the better system wins. Then you go buy bitcoin.
It’s just that simple.
Chinese advertising agencies are really good at spamming.
A country-wide bank run will be wild to witness.
USDC has de-pegged for couple hours now.
After SVB, many are picking another counterparty to park their cash.
How about not picking another counterparty?
Park your cash in Bitcoin. Sound like a great idea.
Stablecoin is not so stable. Re:USDC
M2 collapsed…
😂
“Bitcoin is too volatile”
Half of all US startups were tide up with SVB. Pretty ugly situation.
Coinbase stopped USDC to USD conversion.
🤡
Sad to see some of my investments in funds and startups have exposure to SVB. I hope the situation can resolve quickly.
Last time we have a major bank run Bitcoin merely exists.