4 ms·

What's the ELI5 of how this is supposed to work?

• wmf 4y ago
  Circle and Coinbase will redeem 1 USDC for $1 during banking hours but not on weekends. Due to fallout from the SVB panic, you could have bought 1 USDC on various markets yesterday for $0.90 and sold it for $1.00 on Monday.
  • gus_massa 4y ago
    There is a small risk that they can't pay the promised $1.00 on Monday. (I don't expect problems, but I don't own USDC and I only skimmed the news.)
  • 14 4y ago
    I am a customer of NDAX and they suspended trading for BTC/USDC. Guess they figured it out.
    • wiml 4y ago
      What did they figure out? It's not clear to me that there's anything bad about people taking advantage of this arbitrage opportunity.