pull down to refresh
0 sats \ 0 replies \ @Jonathan_Adly OP 10 Mar 2023 \ on: What happens to your "stablecoins" when their bank goes bust? bitcoin
I looked more into it to see if I can make money shorting USDC. USDC $11b is in NY Mellon with some kind of arrangement with blackrock. Definitely will get bailed out by the politicians. No play there.
GUSD on the other hand uses Silvergate (gone), signature bank (might go next) and JP Morgan (where they got kicked out). Not sure if I want the stress of fiat ponzis, but I would say that GUSD is a better play.