https://void.cat/d/LMgqUpMGq9avJABUwThbaD.webp

Just sent this to a large USDC holder that still didn’t get counterparty risk. This made it click for him. Succinct and clear piece on this issue. Thank you sir.

What do you think will happen to the ramps?

Yup #[0]

That's a Tarantino movie in the image no? Trying to remember the title and content but can't. Need to rewatch badly

Contagion is the logical conclusion of custodianship. We'll see this over and over until people learn.

Doesn’t a run on USDC mean that traders would be searching for an alternate trading pair? Wouldn’t Bitcoin, in theory, start creeping up here?

Nacho keys Nacho cheese

https://cryptoslate.com/op-ed-why-the-usdc-potential-depeg-is-not-a-reason-to-panic/

No need to panic according to this bozo

I am hoping Bitcoiners will stop pushing and defending stablecoins "for the poor" after this. If they continue it's because they fell they're part of the annointed class of "non-poor". Or whatever the crap they say, "global south".