Fed swoops in. Funds safu. Buying USDC at 88c in the middle of a weekend panic was a great trade. The paths to 99.9c outnumbered the paths to 70c 100x. As the gap closes, still some great arbs out there as market adjusts.  https://www.federalreserve.gov/newsevents/pressreleases/monetary20230312b.htm

icebreaker.xyz/0xen |
https://gallery.so/Oxen/galleries | https://opensea.io/collection/farcats

And wasn’t that risky. Even if Circle/USDC lost the $3bn it had in SIVB, they could cover, and it would be crazy for them to not