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So your logic is that big, known entities can’t go bankrupt or be scams?
by endisneigh 5y ago
So your logic is that big, known entities can’t go bankrupt or be scams?
- jkhdigital 5y agoNo, the logic is that it is less likely. Anyways, Coinbase allows on-demand conversion of USDC to USD so you really only have to hold the USDC (and Coinbase’s counterparty risk) for about a day for that process to complete. At some point that window might close but given that Coinbase is a publicly traded stock in the US and must report financials, there is quite a bit less risk compared to Tether.
- marton78 5y agoAgreed, the risk that it goes bust by itself is less than that Tether goes bust. However, what we are taking about is repercussions of Tether going bust: how will it affect Coinbase if suddenly 69B are trying to get cashed out?
- Asparagirl 5y agoBernie Madoff was the chairman of the NASDAQ stock exchange. Being a known entity with cred doesn’t mean anything.