61–68 of 68 posts
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The interesting thing here is that it was TradFi screwing things up for Crypto... https://www.cnbc.com/2023/03/11/stablecoin-usdc-breaks-dolla...
It seems to be at 0.999 - which like prices in the counter party risk. (Whether the risk is prices correctly can be discussed)
You're probably looking at coinmarketcap, which sets the price based on the trade pairs.
It is always $1.00 on coinbase.
Someone explain to me like I’m 5 how tokenization makes it possible to trade private companies. Wouldn’t that mean that the owners of those private companies are somehow issuing tokens related to their ownership? Or is this yet another magical crypto thing where we collectively agree/imagine that tokens are somehow pegged to private companies, without any direct ownership to said companies?
It's naked forwards, except with even less regulation. Matt Levine has a good rundown here: https://www.bloomberg.com/opinion/newsletters/2025-06-26/any...
Makes me wonder what happens if/when the next WeWork or Theranos rolls around, and people are invested via these types of trades.
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It seems to be at 0.999 - which like prices in the counter party risk. (Whether the risk is prices correctly can be discussed)
As always, actual price depends on the exchange you use. You're probably looking at coinmarketcap, which sets the price based on the trade pairs. It is always $1.00 on coinbase.
Any who, even USDC appears to be relatively robost, though with another risk landscape than dai.
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As always, actual price depends on the exchange you use. You're probably looking at coinmarketcap, which sets the price based on the trade pairs. It is always $1.00 on coinbase.
Well coin bases price is not a fair market price as they have ties to circle - they don't price in the counter party risk. Any who, even USDC appears to be relatively robost, though with another risk landscape than dai.
The implied "problem" with USDC isn't depeg, it is this (and who controls it):
https://gist.github.com/chappjc/350aafb9031f7a66986967bf8ab6...
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Well coin bases price is not a fair market price as they have ties to circle - they don't price in the counter party risk. Any who, even USDC appears to be relatively robost, though with another risk landscape than dai.
Coinbase is the counter party. It isn't really "ties to circle", it is that both of them are the CENTRE Consortium. The implied "problem" with USDC isn't depeg, it is this (and who controls it): https://gist.github.com/chappjc/350aafb9031f7a66986967bf8ab6...
Regardless, it depends on what risks we a looking at. Wait you raise is not really a credit risks - though I do understand why it concerns you.
Btw: https://www.theblock.co/post/349168/circle-paid-210-million-...
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Coinbase is the counter party. It isn't really "ties to circle", it is that both of them are the CENTRE Consortium. The implied "problem" with USDC isn't depeg, it is this (and who controls it): https://gist.github.com/chappjc/350aafb9031f7a66986967bf8ab6...
Practically, it hardly makes a difference as wallets are disposable. Regardless, it depends on what risks we a looking at. Wait you raise is not really a credit risks - though I do understand why it concerns you. Btw: https://www.theblock.co/post/349168/circle-paid-210-million-...
Interesting, it goes a bit further than I had kept up with. CENTRE seems disbanded. But given this is all crypto, it is full of backroom deals... one can be sure that Circle and Coinbase are tightly coupled.
https://www.ledgerinsights.com/coinbase-and-ripple-vie-for-u...
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That sounds like a strategy that's going to work really well until it doesn't. Perhaps I'm wrong. Good luck!
What do you think could make this "not work"?
Specifically, I worry that decreasing supply and the corresponding upward pressure on prices will cause transaction fees to increase and therefore volume to decrease. Decreased volume might lower liquidity and allow an event like an old wallet coming online to trigger a price shock and maybe even a broader crisis of confidence in bitcoin's ability to serve as a store of value.
One thing to note for people who don't have a securities background is that exchanges have offered "depositary receipts" which is essentially the same thing for some time - the innovation here is making the depositary receipt into a crypto token. Depositary receipts are used typically to provide a secondary listing for a stock outside the country of its primary listing. So for example on Nasdaq I can trade a "Vodapho…
ADRs are largely a US thing, as far as I know. For example, many US companies list on European exchanges as a secondary listing using their US ISIN, not as an EDR.
The point is the mechanism here is reasonably well-established in normal finance.