Peter Schiff: “USDC, the 2nd largest StableCoin is no longer stable.”

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It has become depegged. Huge outflows. Volume is up o er 100%, all going out

USDC is bound to Tether.

If Tether collapses, a lot of Bitcoin foundation does, too.

Contagion spreading? Binance has temporarily suspended auto-conversion of USDC to BUSD due to current market conditions, specifically related to high inflows & the increasing burden to support the conversion. This is a normal risk-management procedural step to take while we monitor the situation.

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