3 ms·
USDC is better than Tether but far from “solid”. They still hold commercial paper, just 10% instead of 50%. The audit is a joke. Who knows what is really consid
by themagician 5y ago
USDC is better than Tether but far from “solid”. They still hold commercial paper, just 10% instead of 50%. The audit is a joke. Who knows what is really considered “cash equivalent”. Hell, it’s possible USDC holds Tether.
- querulous 5y agoremember the pirateat40 bitcoin ponzi scam? he was paying 7% interest A WEEK on deposits and all these copycat "funds" popped up paying 6% or 5% or whatever that were "safer". when the original ponzi collapsed all the "safer" funds were revealed to have just been taking their deposits and depositing them with pirateat40 and pocketing the difference. the whole ecosystem collapsed
- themagician 5y agoThis is (always) the way.