1/ The USDC depeg has sent shockwaves through #DeFi, calling into question its very foundation.
Where do we go from here?
There are two possible paths forward: 🧵
1/ Are you holding USDC in panic mode right now?
Yes, USDC is in trouble, but it's not going to zero like UST.
Circle has already clarified how much cash they have stuck, and the situation might be better than what the market is pricing right now.