Rule number one of providing a stable coin: make sure you diversify your backing assets: - in various geographies - in various institutions - in vario

Rule number one of providing a stable coin: make sure you diversify your backing assets: - in various geographies - in various institutions - in various currencies - in various type of financial instruments I'm thinking at least 3 of these weren't even thought about in this case. At the very least, FB, when they were still trying to offer a stable coin called these properly. What a freaking joke the folks managing USDC are stashing all of their eggs in the same basket.