News for hackers. Stuff that matters.

A comment on Coinbase Drops Promise of Token’s Cash Backing That Wasn’t True. Parent comment

Re:Coinbase Drops Promise of Token’s Cash Backing That Wasn’... by AlexandrB on Wednesday August 11, 2021 @10:34AM (#28142489)
> requires you to DYOR

How do you do this when the parties involved are not transparent about their holdings and have a history of misleading investors? Go off of rumours? Given their history, why would I believe that USDC is actually holding short term commercial paper and not higher risk, higher return equities?

[ Parent | on HN ]
Re:Coinbase Drops Promise of Token’s Cash Backing That Wasn’... by bequanna on Wednesday August 11, 2021 @11:08AM (#28142932)
I’m not saying you should trust USDC is backed by anything at all.

It is tricky situation. Consumers want assurances, protection but the crypto true believers abhor regulation and disclosure. Trust is difficult in this space and right now many people are speculators consumed by FOMO vs. rational individuals/institutions. No one knows how this will all play out.

[ Parent | on HN ]