Re:Coinbase suspending USDC:USD conversions over the weekend
by kersplody on Saturday March 11, 2023 @02:15AM
(#35106211)
They can try, but no guarantees.
Re:Coinbase suspending USDC:USD conversions over the weekend
by cperciva on Saturday March 11, 2023 @02:54AM
(#35106381)
Fair enough. Technically there's no guarantee that the treasury bill market won't lock up on Monday morning either, but I agree that's a more remote possibility.
Re:Coinbase suspending USDC:USD conversions over the weekend
by vasco on Saturday March 11, 2023 @04:00AM
(#35106703)
They can try, but if JPMorgan CEO is getting such a call it's going to be painful for you and you're going to be in a bad place for negotiating those 10 basis points.
Re:Coinbase suspending USDC:USD conversions over the weekend
by carlsborg on Saturday March 11, 2023 @04:40AM
(#35106878)
Greed vs fear. These treasuries portfolios are likely 4 to 5% down, more if levered. They would stand to lose billions if they do not hold to maturity. They probably did not predict a bank run on a Friday afternoon.
Ok I'll buy that if you or I wanted to sell treasury bills, but... if a company needs to liquidate $10B of treasury bills over the weekend, can't they just call up the CEO of JPMorgan and say "hey we'll give you 10 basis points over Monday's 9AM rate" and make a deal happen?