People believing QE will come fast is probably one factor of “inflation being sticky”. Pain will come, those who are willing to endure that pain will win.
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When luna depegged, I read about synthetic assets and what makes a good collateral. Short term t bill is the closest asset to dollar and with current coupon rate it is just a money printing machine. I wish circle and the government moves forward in ways to reduce counterparty risk for circle but increase transparency.
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If Fed and Fdic steps in USDC is CBDC. USDC is already a very freezable asset. We learned that holding USDC on chain is nothing like holding cash. Crypto people love the dollar, but doesnt want to comply with US laws. You can’t do both. Use eth and comply with eth law or use Dollar and comply with US laws.
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