When I was a kid, I remember watching an old Batman TV show and Robin said to Batman, “Batman! We could have been killed…or worse.” I remember laughing so hard because it was so dumb.

This headline takes me back to that moment. “Stablecoin Issuer Circle Reveals $3.3 Billion Exposure to Silicon Valley Bank”.

It’s turtles all the way down, folks. There’s Bitcoin and then there’s everything else.

https://www.bloomberg.com/news/articles/2023-03-11/usd-coin-stablecoin-falls-further-from-peg-on-svb-exposure-risk