arbedout on Nostr: 1) The FDIC, the Treasury and the Federal Reserve have decided that SVB depositors ...
1) The FDIC, the Treasury and the Federal Reserve have decided that SVB depositors will be made whole.
This means that Circle will be able to redeem USDC at par. This means USDC will continue to exist. See Jeremy Allaire's thread celebrating here:
https://twitter.com/jerallaire/status/16350590240509378562) Last year we learned that, in the event of a contentious Ethereum fork, the 'winning' chain will de-facto be whichever one Circle believes is 'valid' (see screenshot of Circle's August 9, 2022 statement before the merge).
1) + 2) =
3) Circle exists because Treasury has decided to allow them to exist, which means any forks that are recognized by Circle as valid for USDC are - in their judgement - not going to get them on Yellen's bad side and have her reconsider that decision.
So, yeah, Ethereum is officially captured by the State, I don't make the rules.
Published at
2023-03-13 01:18:27Event JSON
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"content": "1) The FDIC, the Treasury and the Federal Reserve have decided that SVB depositors will be made whole.\n\nThis means that Circle will be able to redeem USDC at par. This means USDC will continue to exist. See Jeremy Allaire's thread celebrating here: https://twitter.com/jerallaire/status/1635059024050937856\n\n2) Last year we learned that, in the event of a contentious Ethereum fork, the 'winning' chain will de-facto be whichever one Circle believes is 'valid' (see screenshot of Circle's August 9, 2022 statement before the merge).\n\n\n1) + 2) = \n\n3) Circle exists because Treasury has decided to allow them to exist, which means any forks that are recognized by Circle as valid for USDC are - in their judgement - not going to get them on Yellen's bad side and have her reconsider that decision.\n\n So, yeah, Ethereum is officially captured by the State, I don't make the rules. \n\n\nhttps://nostr.build/i/nostr.build_4a9396e6b1883728f86feacec35cb85f5194e22c36afc828c458c9fafddfead4.png",
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