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If Coinbase is operating USDC as full reserve, as they have claimed, is there any risk from it? Seems like there would only be risk if they lied about how they
by cwkoss 4y ago
If Coinbase is operating USDC as full reserve, as they have claimed, is there any risk from it? Seems like there would only be risk if they lied about how they are running it.
- wly_cdgr 4y agoEven if that's so, saying it's plausible they lied would be putting it kindly
- vkou 4y agoUnlike the other fly-by-night stablecoin shops, Coinbase's leadership, and their wealth is fully within reach of Uncle Sam's prosecutors. I doubt USDC is undercollateralized. I don't doubt that there are situations where it could depeg, but I don't think anyone ought to be going to jail if it does.