Bitcoins/Litecoins/Virtual Currencies

Haus

Haus

I am Big Balls!
<Gold Donor>
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So apparently the company which does $USDC (Circle) dropped 18% in market cap.

The reason? The "Compromise" they came up with for the upcoming cypto legislation that was supposed to give clarity to the crypto industry is now that you aren't allowed to pay yield or interest on stablecoin holdings. All because the banks realized if people could get consistent yield holding stable coins versus no real interest/yield holding dollars in a bank they knew where the capital would fly to.

yay crypto?
 
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Arden

Arden

Vyemm Raider
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Yeah banks basically won that battle. And it was a big battle. Doesn't matter, tradfi's days are numbered. Their intransigence will only hasten their demise.
 
Flobee

Flobee

Ahn'Qiraj Raider
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Banks are still going to get kneecapped if Strategy's STRC is able to stay stable and keep paying out. Stablecoins yield is not really a big deal for "us" just for the :emoji_poop:coin companies. If you want yield and want to take a risk on something unproven, but 100x safer than any yield in "crypto", buy STRC. Given how its structured I can't understand why you'd be willing to take risks in :emoji_poop:coin markets with cash equivalents, assuming you have access to US markets.
 
Rangoth

Rangoth

Vyemm Raider
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It’s not shitcoins though. You could hold USDC or USDT which, in theory, are pegged to dollar. yes it is a coin so we’ll leave that debate aside, but they offered WAY better interest than banks and can now even be spent like regular dollars via connected debit cards. Basically it was a 6-9% checking account. That is why banks panicked and yes, they did win sadly :(
 
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