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It's far too small to matter. Add up all the stablecoins, DeFi protocols, etc and you'll arrive at a dollar value smaller than single-day drops in individual st
by tyrfing 4y ago
It's far too small to matter. Add up all the stablecoins, DeFi protocols, etc and you'll arrive at a dollar value smaller than single-day drops in individual stocks this year. It's also likely that there is a larger dollar amount of loans backed by just Tesla stock (via Elon Musk) than all crypto loans put together.
- sebmellen 4y agoYes, fair point. I only wonder how highly leveraged crypto is w/r/t the “outside world”. The bubble popping would certainly devastate a lot of people I know who are highly invested in crypto. Whether the unraveling comes from loans or other non-existent collateral (see USDT or even USDC), the effects would be significant. For example: https://www.imf.org/-/media/Files/Publications/GFSR/2021/October/English/ch2.ashx https://www.imf.org/-/media/Files/Publications/GFSR/2021/Oct....