Conversation

Okay so hold on Stablecoins like USDT, BUSD & USDC Are backed by short-term bonds. Bitfinex, Binance & Circle are printing money While we take on all the risks of bonds with no benefits We desperately defend stablecoins but we're actually cucks?

Quote Tweet

Romano

@RNR_0

Sep 24

Anyone has a better idea of what he's trying to say or imply?

248

Replying to

to be clear, short term gov't bonds (treasuries) so the risks are equal to the risks of the US defaulting on its debt

181

Replying to

and

it's worth noting, fwiw, that most of the financial ecosystem is backed by treasuries--even if they don't make it obvious, most financial institutions store your $ in treasuries

8:52 PM · Sep 25, 2022Twitter Web App

Replying to

and

Up or Down ser

Replying to

and

how tf can it be the same risk with the immsense additional ctpty risk?

Replying to

and

lmao treasuries are literally the “risk free rate”

Show replies

Replying to

and

refinance and repo back to market. churn and slosh into infinity

Replying to

and

Ponzi confirmed

Replying to

and

true, but those financial institutions have a history of being bailed out by central banks. So far, we have no history for that on stable coin providers. Or can you confirm Circle and Tether are in line for bailouts if they default? If so, you did some wonders there in Congress

Show replies