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by tossandthrow 328 days ago
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.
1 comments
latchkey 328 days ago
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...

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tossandthrow 328 days ago
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-...

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latchkey 328 days ago
If you have funds in a wallet and it is blacklisted, then those funds are locked forever because they can see where the funds move and continue to lock any new wallets they move to. One could argue that's actually kind of a neat feature of a blockchain, in being so public.

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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