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What would happen to USDC if Circle went bankrupt (and why does this matter)?
Over the weekend, USDC depegged after a $3.3b shortfall in the USDC reserve account appeared due to funds stuck in SVB. USDC subsequently regained its peg following the fed decision to cover depositor losses at SVB. In a press release issued before the fed decision was announced, Circle stated it would “stand behind USDC and…
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Protecting DeFi users from exploit losses with on-chain subordinated credit markets
TL;DR: The “investor protection” meme has taken hold post-FTX In the wake of the recent implosions of centralized crypto exchanges and lenders, including FTX, BlockFi, Genesis, Celsius, Voyager and others, “investor protection” has become a powerful meme among lawmakers inclined to intervene in crypto. Lawmakers and regulators note that crypto firms often fail to comply…
JR crypto research 