Re:The Bit Short: Inside Crypto’s Doomsday Machine
by jcfrei on Friday January 15, 2021 @03:48PM
(#25796217)
> Coinbase maintains the stable value of USDC by creating new USDC and selling it to people for BTC.
If tou want USDC you can simply change your dollars on coinbase. No need for them to use their own funds to maintain a stable price - there's no usdc/usd market on coinbase.
If tou want USDC you can simply change your dollars on coinbase. No need for them to use their own funds to maintain a stable price - there's no usdc/usd market on coinbase.