USDC collapses 13% in shadow of Silicon Valley Bank failure
USDC has depegged at one point going at low as 87c after the collapse of Silicon Valley Bank where they held $3.3B of their fiat reserves.
We’ll cover what happened and what comes next after another large stablecoin loses it’s peg.
$USDC
Timestamps
0:00 - Introduction
1:30 - USDC Depeg
3:30 - Silicon Valley Bank Collapse
8:20 - Impact of Silicon Valley Bank on High Tech and Startups
9:10 - 0% fractional reserve rate
13:40 - Circle holds reserve in Silicon Valley Bank
16:00 - Ponzi scheme on top of ponzi schemes
16:50 - Coinbase stops redemptions of USDC
18:45 - Jim Cramer dooms SVB
20:55 - Did SVB execs do insider trading?
22:00 - Circle Treasuries reserves
25:20 - Other bank holdings for fiat
26:10 - Curve 3 pool was drained
27:30 - $2M swapped for 5 cents
28:35 - Lehman brothers and Silicon Valley Bank
29:00 - Tinfoil hat time
30:20 - Elon Musk buying Silicon Valley Bank?
31:30 - A Decentralized economy needs decentralized money
34:30 - Stripe Atlas has exposure to Silicon Valley Bank
36:10 - Kujira DIY liquidation platform
37:00 - Bitcoin was born in the shadow of the worst financial crisis
37:40 - Why is crypto market up when USDC is down?
40:10 - USK is not backed by USDC
Links
https://www.coingecko.com/en/coins/usd-coin
https://www.nytimes.com/2023/03/11/business/dealbook/silicon-valley-bank-collapse.html
https://www.bloomberg.com/news/articles/2023-03-11/svb-depositors-investors-tried-to-pull-42-billion-on-thursday?leadSource=uverify%20wall
https://twitter.com/Cointelegraph/status/1634254701838360577?s=20
https://www.federalreserve.gov/monetarypolicy/reservereq.htm
https://twitter.com/technologypoet/status/1634370623488098304
https://twitter.com/circle/status/1634341007306248199
https://twitter.com/circle/status/1634391505988206592
https://twitter.com/coinbase/status/1634399032767307776
https://twitter.com/CramerTracker/status/1634237672997699602
https://twitter.com/unusual_whales/status/1634555021487480834
https://twitter.com/RasterlyRock/status/1634346947908890624
https://twitter.com/AviFelman/status/1634329727107321860
https://twitter.com/ZeMariaMacedo/status/1634377862978338817
https://twitter.com/BowTiedPickle/status/1634415551450587138
https://twitter.com/AutismCapital/status/1634460460123836417
https://twitter.com/AP_Abacus/status/1634548164173651973
https://www.marketwatch.com/story/the-10-banks-that-may-face-trouble-in-the-wake-of-the-svb-financial-group-debacle-50d6e49e
https://twitter.com/elonmusk/status/1634374859043270678
https://twitter.com/TheRyanLion/status/1634330599036002305
https://twitter.com/TeamKujira/status/1634539611253796870
https://twitter.com/sunnya97/status/1634365680244981760
Just Crypto on the Internet
Twitter: https://twitter.com/justcryptoshow
Web: https://justcrypto.show
Kavarii: https://kavarii.com/c/justcrypto
Youtube: https://www.youtube.com/JustCrypto
Listen on your favorite Podcast app
Apple: https://justcrypto.show/applepodcasts
Google: https://justcrypto.show/googlepodcasts
Spotify: https://justcrypto.show/spotify
-
LIVE
Right Side Broadcasting Network
5 days agoLIVE: President Donald J. Trump to Hold a Rally in Mosinee, WI - 9/7/24
37,335 watching -
LIVE
Jewels Jones Live ®
22 hours agoPOLITICAL WARFARE | A Political Rendezvous - Ep. 90
2,331 watching -
57:59
Tate Speech by Andrew Tate
11 hours agoEMERGENCY MEETING EPISODE 69 - HARD TALK
118K224 -
34:56
Freakin' Reviews
1 day agoTesting and Ranking SEVEN Strange Products by Request!
13.7K4 -
53:57
I_Came_With_Fire_Podcast
23 hours ago"Missouri v. Biden: Supreme Court Case on Censorship" w/MO Attorney General Andrew Bailey
32.1K19 -
1:09:03
Michael Franzese
19 hours agoThe left has FAILED and DECEIVED black community | Sitdown with Quenton Jordan
35K23 -
1:04:11
Tactical Advisor
4 hours agoNew Gun Releases/Q&A - Vault Room Live Stream
33K27 -
15:04
Lloyd And Mandy
10 hours agoIs COLLEGE The World's BIGGEST SCAM?
42.6K32 -
10:50
ThinkStory
1 day agoTHE PERFECT COUPLE Ending Explained & 10 Hidden Clues That Point to the Murderer!
59.6K6 -
11:37
Cooking with Gruel
21 hours agoGrilled Meatball Sliders
44.1K9