3 ms·
If they lost $3.3b, it's what, .9175 : 1 ? So nominal price should be $.9175 on the dollar presumably. Add in another couple bips for the uncertainty. Edit:
by badloginagain 4y ago
If they lost $3.3b, it's what, .9175 : 1 ?
So nominal price should be $.9175 on the dollar presumably.
Add in another couple bips for the uncertainty.
Edit: It would be actually hilarious if USDC failed because the banking system. I doubt it will happen, you'd have to see further contagion from the other banks Circle uses for their dollar reserves. I figure the tipping point for a bank run is quite high?
- brookst 4y agoI don’t think it’s remotely plausible that uninsured SVB deposited are just gone, $0 on the dollar. Absolute worst case, they might have lost 10%, or $330m, so .99175. It’s not like SVB was a Madoff scheme and the money is gone; it became insolvent because the current value of its investment vehicles couldn’t support 100% withdrawals.
- ejanus 4y agoBased on their own story. However wait for regulators to look at their books first before concluding .
- xuki 4y agoIt's 1:1 until they cannot process withdrawals anymore then it's 0:1. If I had any money in USDC right now I would try to withdraw asap.