Coinbase Pauses Conversions Between USDC and U.S. Dollars as Banking Crisis Roils Crypto

johnarb said:
USDC traded as low as 87 cents and now above 93 cents, but is there an opportunity here?

USDC is not like Luna UST that had a death spiral to $0 due to the mechanics of algorithmic stablecoin peg-defense

I think USDC will go back to its peg $1 since I don't think Circle, the USDC issuer is going bankrupt

One big risk is the US regulators and "protectors" of investors may shutdown USDC... perhaps to issue their CBDC as replacement which could cause issues with non-US holders of USDC
More...

Some people on Discord were loading up on USDC at below 90 cents... Imagine buying US $ for more than 10% discount?

US cbdc is not ready for a while...

btw, holding USDC is much safer than holding your $ deposits at SVB, and you have access to USDC 24/7/365 unlike, well, you know

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