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CD94: Bank Crisis and Bitcoin with Jesse Myers

Citadel Dispatch

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DeFi Bailout - Bitcoin's Only Stable Coin

USDC had billions of dollars on SVB. If USDC faltered, there would have been a significant flight to safety to Bitcoin. I don't think it protected the Bitcoin ecosystem. And now that people didn't learn the lesson, so how much is- Like USDC is like $40 billion under management or something. It's like $50 billion. The next time this happens, if USDC even survives the cycle, so I'm still not convinced it will.

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