[Breaking] USDC is being depegged. GG crypto

[fortunecat]

https://www.google.com/amp/s/www.fx...er-silicon-valley-bank-collapses-202303110152
For the uninitiated, usdc is a stable coin like Luna, but much bigger. Not sure if the usdc foundation is able to bring reserves to counter the attack on its peg.

If it collapses, it may lead to a chain reaction bringing down sovereign funds or even banks that dabble in crypto

Unless Circle is lying and they have much more money in SVB than stated, it will not go down like UST lah

 

[Hafi]

Ur not a very smart person

See u on Monday morning when fed will make depositors whole

FDIC will only guarantee deposits from the bank's remaining assets.

Only you in lala land dreaming of FED bailout.

 

[HelloEllo]

FDIC will only guarantee deposits from the bank's remaining assets.

Only you in lala land dreaming of FED bailout.

US guaranteed first 250K even if bailout I believe creditors will be asked to reduce their debt or have a haircut on their $$ in the bank

 

[chongquan82]

no scare

still got crypto.com

all can still put monies there

 

[Hafi]

Unless Circle is lying and they have much more money in SVB than stated, it will not go down like UST lah

the problem will start when every Tom Dick and Harry try to "cashout/withdraw" from USDC causing a panic "bank run".

 

[littlegrasshopper]

Ur not a very smart person

See u on Monday morning when fed will make depositors whole

Fed busy with fighting inflation. Bank run not Fed taiji

 

[HelloEllo]

the problem will start when every Tom Dick and Harry try to "cashout/withdraw" from USDC causing a panic "bank run".

Technically a crypto crash may be the trigger to curb this inflation

 

[Hafi]

US guaranteed first 250K even if bailout I believe creditors will be asked to reduce their debt or have a haircut on their $$ in the bank

Yes precisely and liquidators and lawyers will always take the biggest slice of the remaining assets as "fees" as evidence from the most recent FTX case.

Nobody seems to realise it is "designed to fail", still got peep thinking the US govt will step in and help... LoL

 

[worldmap777]

going to bedok reservior now!

 

[littlegrasshopper]

Just few minutes ago if you bought USDC at 90 cents, now you earn profit already, selling at 93 cents

Might as well say buy at 88c sell at 93c then reverse at 93c buy back at 90c. Do that whole day surely gamed.

 

[Hafi]

Technically a crypto crash may be the trigger to curb this inflation

erm... I dun think so, crypto total market cap can't make a dent on the US financial blackhole.

 

[Hafi]

no scare

still got crypto.com

all can still put monies there

still got coinbase also... LoL

 

[jinsatkilife]

FDIC will only guarantee deposits from the bank's remaining assets.

Only you in lala land dreaming of FED bailout.

? Are u in lalaland?

Morgan Stanley will buy sivb

See u monday when all depositors are made whole

For u to think the authorities will not make depositors whole is seriously lalaland

Shows that u have no idea what you are talking about

Monday morning, when MS buy sivb, I'll quote this and laugh at u

Make sure u are present to reply and apologize

 

[Hafi]

? Are u in lalaland?

Morgan Stanley will buy sivb

See u monday when all depositors are made whole

For u to think the fed will not make depositor whole is seriously lalaland

ok loh... I quote your post and come back to check in on Monday US timing.

 

[Sprezatura]

just hold ur money inside

fed will rescue u on monday morning

i guarantee u or i tok

hope it comes true

 

[Laneige]

Wa I buy leh
But heng I buy 3k liked that

….
就是这样的
没有办法的

 

[Hafi]

just hold ur money inside

fed will rescue u on monday morning

i guarantee u or i tok

quote for evidence...

 

[GuiGuZi]

I just saw a short clip Simpsons showing "Silicon Valley Bank bank run"

not sure its "coincidence" or the video is made yesterday.

 

[Evil_Boss]

Jin Sarkies got warren buffets here

 

[Ubi-Warrior]

going to bedok reservior now!

Got happy hour at the bar there?


App Time!!!