> Right. Stablecoins are only as good as the underlying assets. If those assets go away, like they just did 😂 then this is the result.
Their assets were in Silicon Valley Bank? I've barely read anything about SVB's failure, but I did see that most of its deposits were not covered by FDIC deposit insurance.
It'sMe /
npub1m0…gekrr
2023-03-11 17:47:09
in reply to nevent1q…lhqv
Author Public Key
npub1m034tqsg2nv0rxdst2uf5u2u3lk0dm49u33m3yy3y62kn7w7x2ns6gekrrPublished at
2023-03-11 17:47:09Event JSON
{
"id": "2bb663347937610ac2e3ca6bc5d1dac0edc880872ad483693658c58c15be453a",
"pubkey": "dbe355820854d8f199b05ab89a715c8fecf6eea5e463b89091269569f9de32a7",
"created_at": 1678556829,
"kind": 1,
"tags": [
[
"e",
"7b2e8741c8f430eabdce563762366baed97a844ff30ce1ec71fba51325065e8b",
"",
"root"
],
[
"e",
"6eb7c8b7662f641e151511a7011b52295f86c25f0a002db498457d99674d91d2",
"",
"reply"
],
[
"p",
"3f770d65d3a764a9c5cb503ae123e62ec7598ad035d836e2a810f3877a745b24"
],
[
"p",
"3fe257a932338b97a5830128f943fc63516013d92fd61d0e2c057472479163af"
]
],
"content": "\u003e Right. Stablecoins are only as good as the underlying assets. If those assets go away, like they just did 😂 then this is the result. \n\nTheir assets were in Silicon Valley Bank? I've barely read anything about SVB's failure, but I did see that most of its deposits were not covered by FDIC deposit insurance.",
"sig": "82658e1cf3647ffee8930dff4329ae7702b119a0f252fa934f398dcfb493a764a988b59810e107edcafc9216aa9214399284b0334e34cef463c79affce131d22"
}