Hey man, hope you’re steady enjoying that vaycay! Silly question: sell any USDT or USDC regardless of if it is on an exchange or not, correct? Just get out of it now, before the shit sprays...not just get out of what’s been thru tornadocash. I’m sure I’m just reading it funny, and I don’t mind asking a silly question now and then. Thanks for all the insights in this first year of Substack greatness!
Comment was in anticipation of uncertainty surrounding how USDC and USDT would manage the blacklisting and how users would treat these assets on a DEx and a CEx. Quite a few things have happened since then and some dApps using centralized front ends (they have to) like AWS aren't sure how to handle USDC/USDT that has previously been transacted through TornadoCash. I'll go into it more next week, but if you haven't been hit yet, I wouldn't worry about it and you'll hear more on Sunday.
This is ultimately why I prefer algorithmic and crypto backed stablecoins. Eventually USDC and USDT will be fully targeted by regulation, and they won't have any choice but to comply. But all stablecoins have risks, and now this year we've seen both forms of risk play out.
Hey man, hope you’re steady enjoying that vaycay! Silly question: sell any USDT or USDC regardless of if it is on an exchange or not, correct? Just get out of it now, before the shit sprays...not just get out of what’s been thru tornadocash. I’m sure I’m just reading it funny, and I don’t mind asking a silly question now and then. Thanks for all the insights in this first year of Substack greatness!
Comment was in anticipation of uncertainty surrounding how USDC and USDT would manage the blacklisting and how users would treat these assets on a DEx and a CEx. Quite a few things have happened since then and some dApps using centralized front ends (they have to) like AWS aren't sure how to handle USDC/USDT that has previously been transacted through TornadoCash. I'll go into it more next week, but if you haven't been hit yet, I wouldn't worry about it and you'll hear more on Sunday.
This is ultimately why I prefer algorithmic and crypto backed stablecoins. Eventually USDC and USDT will be fully targeted by regulation, and they won't have any choice but to comply. But all stablecoins have risks, and now this year we've seen both forms of risk play out.