E le gata i lea, Ki Young Ju believes the USDC situation is completely different from the Terra USD (UST) collapse. The Luna Foundation Guard sent billions in BTC to crypto exchanges for issuing Terra (LUNA) to maintain the peg, risking its crash by market makers.
Faitau foi: Binance Su'i I Stablecoins Tele, Fa'agata Faiga Fa'aliliuga Fa'aaunoa
USDC is the only regulated stablecoin backed by cash reserves backed by traditional financial institutions on public blockchains. Circle’s failure will hamper the plans to launch global financial businesses on public blockchains by U.S. financial institutions.
On-chain data also reveals that exchange inflow has reached over $7 billion in two days. Meanwhile, exchange outflow has also reached nearly $6 billion in two days. The USDC remains depegged i le $ 0.91.
Source: https://coingape.com/circles-usdc-redemptions-reaches-2-5-billion-in-24hrs-exchange-inflow-7b/