I’m not saying you should trust USDC is backed by anything at all. It is tricky situation. Consumers want assurances, protection but the crypto true believers

I’m not saying you should trust USDC is backed by anything at all. It is tricky situation. Consumers want assurances, protection but the crypto true believers abhor regulation and disclosure. Trust is difficult in this space and right now many people are speculators consumed by FOMO vs. rational individuals/institutions. No one knows how this will all play out.