0 sats \ 1 reply \ @Jonathan_Adly 10 Mar 2023 \ on: Scrutiny on $43B USDC Stablecoin’s Cash Reserves at Failed Silicon Valley Bank bitcoin
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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0 sats \ 0 replies \ @SouthParkHodl OP 10 Mar 2023
I believe Blackrock manages a portion of their collateral.
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