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it'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
by patrickaljord 4y ago
it'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.