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

Re:Coinbase suspending USDC:USD conversions over the weekend by mtlmtlmtlmtl on Saturday March 11, 2023 @12:03AM (#35105550)
How is a stablecoin stable? They're stable until you get rugpulled.
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Re:Coinbase suspending USDC:USD conversions over the weekend by swalsh on Saturday March 11, 2023 @08:05AM (#35107973)
That was an Algorithmic Stablecoin. USDC is not, it was backed by dollars in banks with a 1:1 backing and 3rd party audited.
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Re:Coinbase suspending USDC:USD conversions over the weekend by EVa5I7bHFq9mnYK on Saturday March 11, 2023 @12:00PM (#35110206)
"was backed" hehe
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Re:Coinbase suspending USDC:USD conversions over the weekend by mtlmtlmtlmtl on Saturday March 11, 2023 @12:01PM (#35110210)
Many the mortgage bonds in the 2008 crisis were AAA or AA rated by a "third party". And they were dogshit.

Is it audited by the SEC or some "auditing firm"?

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Re:Coinbase suspending USDC:USD conversions over the weekend by basch on Saturday March 11, 2023 @06:15PM (#35113793)
I’ll repeat. How is a stable coin a Ponzi scheme.

A Ponzi scheme pays a dividend or share of fake “revenue.” Stablecoins don’t make money, unless lent out.

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Re:Coinbase suspending USDC:USD conversions over the weekend by Analemma_ on Saturday March 11, 2023 @12:17PM (#35110381)
How'd that work out for it.
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