THE GREAT SHITCOIN PURGE LIVE!
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Signal: #150432
Anyway, USDC has some kind deal with blackrock, who are implicitly a FED favorite. They won't go away overnight, although they may get tarnished and lose market share, then enter a death spiral since its a VC shop. A slow death perhaps, but I don't think they will explode.
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I believe Blackrock manages a portion of their collateral.
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