I understood your question and the issue perfectly well. It's widely known that Circle backs USDC 1:1 with cash and cash equivalents. That's the value prop com

I understood your question and the issue perfectly well. It's widely known that Circle backs USDC 1:1 with cash and cash equivalents. That's the value prop compared to Tether. It doesn't have to be a huge mystery as to whether Circle can meet Monday liquidity demands. You could look at USDC trading volume since it de-pegged, set the buy/sell ration as you see fit - or even do some onchain analysis - then compare to Circle's cash reserves. This would be a worst case scenario. Logic trumps puzzles.