News for hackers. Stuff that matters.

A comment on Coinbase suspending USDC:USD conversions over the weekend. Parent comment

Re:Coinbase suspending USDC:USD conversions over the weekend by drcode on Friday March 10, 2023 @11:57PM (#35105515)
Circle used SVB, not Coinbase

(I'm no expert though, correct me if I'm wrong)

Edit: Parent comment is now correct

[ Parent | on HN ]
Re:Coinbase suspending USDC:USD conversions over the weekend by kersplody on Saturday March 11, 2023 @12:14AM (#35105616)
Edited parent.

USD Coin is managed by a consortium called Centre, which was founded by Circle and includes members from the cryptocurrency exchange Coinbase. Circle used SVB.

[ Parent | on HN ]
Re:Coinbase suspending USDC:USD conversions over the weekend by xbruteforce on Saturday March 11, 2023 @12:13AM (#35105615)
There is USDC liquidity on Coinbase. Which may not be redeemable for USD over the weekend because of this news.

That's why Coinbase are stopping withdrawals.

[ Parent | on HN ]