Quote from: el kaka22 on March 12, 2023, 06:23:59 PM

I do not know how much this silvergate issue really hurt USDC or not. I understand that circle lost some huge amounts there, and that is why it's down right now, but does it really mean that they had no reserves at all? Maybe they still have enough for 1 to 1 ratio and this was just excess amount they had?

I really do not know, but if it is true that they lost peoples money in this bankruptcy then we are all in trouble with all the other coins as well. They might as well be gone too, USDT or anything else too, because even if they didn't had money in silvergate, they have it somewhere else and it could be gone just like this one day and we would be in trouble.

Nothing is absolutely safe, once invested, we should have a plan for these risks. Not only USDT, but even if you hold bitcoin, it only assures you that the asset remains in your hands, not your asset value. In previous cycles of inflation and economic crisis, there have also been bank and corporate failures, so it is not surprising that it repeats itself. I think that's just the beginning, and there will be much worse this year, the economic crisis has not gone away, and it threatens us even more.