4 ms·
IMHO, they are justifiably confident that this will all blow over in a few days, and that their deposits will be available to them soon after, albeit with a few
by WalterSear 4y ago
IMHO, they are justifiably confident that this will all blow over in a few days, and that their deposits will be available to them soon after, albeit with a few percent missing.
But I concur - they are showing their true colors by not defending the peg.
- patrickaljord 4y agoit's not their job to defend the peg on the open market (not to mention impossible by definition), their only product is the possibility to redeem each USDC for $1 through a circle account. We will see on Monday if they can deliver.
- SilasX 4y agoSure, it’s not technically “their job” to destroy a dollar’s worth of obligations for 90 cents. It’s just a darn good idea.