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wmf
on March 11, 2023
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An Update on USDC and Silicon Valley Bank
Some people are saying "gotcha! you can't redeem" as if that's a real problem and Circle is clarifying that you could never redeem on the weekend.
lxgr
on March 11, 2023
[–]
But something must be different this weekend compared to all the ones before, at least at Coinbase:
https://news.ycombinator.com/item?id=35105039
wmf
on March 12, 2023
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There's a bank run on USDC right now which is probably exceeding Coinbase's cash on hand or risk tolerance.
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