News for hackers. Stuff that matters.

A comment on Binance freezes withdrawals of stablecoin USDC as investors pull $2B. Parent comment

Re:Binance freezes withdrawals of stablecoin USDC as investo... by lallysingh on Tuesday December 13, 2022 @01:47PM (#33973773)
America went back to floating in 1971. The convertability with gold was only around for 17 years [1]. I don't know why that's relevant to USDC - there's no absolutely stable store of value, everything fluctuates.

USDC doesn't sound tenable.

[1] https://en.m.wikipedia.org/wiki/Bretton_Woods_system

[ Parent | on HN ]

There are no comments on this comment yet.