Even if that's so, saying it's plausible they lied would be putting it kindly | Hacker News

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wly_cdgr on June 15, 2022 | parent | context | favorite | on: Coinbase lays off around 1,100 employees

Even if that's so, saying it's plausible they lied would be putting it kindly

vkou on June 15, 2022 [–]

Unlike the other fly-by-night stablecoin shops, Coinbase's leadership, and their wealth is fully within reach of Uncle Sam's prosecutors.

I doubt USDC is undercollateralized. I don't doubt that there are situations where it could depeg, but I don't think anyone ought to be going to jail if it does.

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