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I admittedly understand very little about the crypto ecosystem, but how is this not a death knell for USDC? Wasn't its entire premise built around maintaining 1
by cddotdotslash 4y ago
I admittedly understand very little about the crypto ecosystem, but how is this not a death knell for USDC? Wasn't its entire premise built around maintaining 1:1 parity to the US dollar? That feels very binary to me. If one USDC does equal one US dollar, then the coin has failed, no?
- capableweb 4y agoThey (stable coins) go up and down in small increments all the time, as the peg adjusts. Even Tether at one point was worth 0.91 USD but recovered. They've had a bunch of dips but somehow seem to always recover. Until they don't, I guess. Haven't happened yet, but shouldn't say it's impossible.
- computing 4y agoIs the SVB situation a death knell for banks?