Yeah but treasures lost money last year. If usdc has duration risk which I’m sure they do they are probably under capitalized. What could easily happen is an al

Yeah but treasures lost money last year. If usdc has duration risk which I’m sure they do they are probably under capitalized. What could easily happen is an alternate stable coin comes in offer say 4% while investing in T-bills and pocketing the one %. People will then cash out of usdc and move to something better forcing usdc to fail