Depeg Update - USDC is weakening (Patreon)

I was caught out by buying BTC and SOL before the USDC fall out.

SOL got hit harder than BTC.  BTC is at the same level which illustrates people are pumping their USDC at a loss into BTC as a safe have.  There is no alternative for many.

Stablecoins are extremely risky when they lose their peg.  USDC has stopped redemptions otherwise they would cause their own bank run. But we could see it falling to 86% or more of its value.

HOW GEMINI IS FLEECING CUSTOMERS

Gemini are now charging 1.065 for every USDT in the flight to safety game!!! That is NUTS - Gemini sure are earning on this one. 

Ran put together a spreadsheet that looks something like this which shows the size of the SVB hole and impact of redemptions which could drive price down to zero.