i used usdc all the time. it was my stablecoin of choice. but now i no longer trust usdc, because they had all of their cash in svb and moved to bny mellon the last minute only. paxos not only diversified their cash but had insurance on it.
USDC's recent depeg became their slow death. Because of that depeg, they lost the trust of their users. I won't be shocked if they depegged again especially with their reserves in risk because of them choosing the wrong bank AGAIN which is Cross River WHICH IS NOW BEING INVESTIGATED AGAIN. Rip USDC lol 🤣
i used usdc all the time. it was my stablecoin of choice. but now i no longer trust usdc, because they had all of their cash in svb and moved to bny mellon the last minute only. paxos not only diversified their cash but had insurance on it.
USDC's recent depeg became their slow death. Because of that depeg, they lost the trust of their users. I won't be shocked if they depegged again especially with their reserves in risk because of them choosing the wrong bank AGAIN which is Cross River WHICH IS NOW BEING INVESTIGATED AGAIN. Rip USDC lol 🤣
Circle is out there dreaming of USDC becoming the next CBDC, but they can't even keep their own peg stable. Honestly, it's still a lousy stablecoin.