USDC can be perfectly fine and 100% backed, but if the only places it can be red...

jimmydorry on Sept 22, 2022 | parent | context | favorite | on: Tether ordered to produce documents showing backin...

USDC can be perfectly fine and 100% backed, but if the only places it can be redeemed at are exchanges, when shit hits the walls all withdrawls will be turned off (cash balances included). What makes you think USDC would be redeemable?