Aman Dhesi
@aman
Follow up to previous tweet: afaik the only profitable businesses in crypto are - exchanges - some NFT marketplaces although it looks increasingly like their take rate is going to 0% - metamask/consensys - (maybe) some node infra providers anything else?
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Fred Blauer
@fblauer
How are stablecoins profitable? By definition, they are just equal to USD.
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Fred Blauer
@fblauer
Apparently they aren't the same as USD. Go and look at the price of USDC. I rest my case.
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Mac Budkowski ᵏ
@macbudkowski
Do you have an idea why USDC depegged?
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Fred Blauer
@fblauer
It started when the fed raised interest rates. This caused 10 year bonds to go down in value. SVB had to cash in bonds to pay back depositers who wanted their money back, causing them to become iliquid. Too many people are trying to get out of USDC, and circle can't get the funds from SVB. Its a domino effect.
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