Wild moves these days.
I'm trading BTC/USDC and there was a spike to 26000 causing me to sell several steps at this nice price, then buy back much lower. Was that only on my market (a large, established exchange) or did it happen everywhere ?
OK I see what happened, what I was fearing could happen, it's USDC that has issues.
My exposure is quite low but that's annoying, I don't know what to do now. I'm following the SVB thing and it doesn't seem to be a fraud or even a big mistake that caused the problems, and most of the money should be recoverable.
edit : some time ago I had removed most of the ladder steps up for a situation just like this, so that if USDC crashed irremediably I wouldn't be left holding tons of it and having sold all my BTC trading funds.
USDC was prone to problems from the start I do not know why people thought it was stable and would be around forever. Bitcoin is the only cryptocurrency worth investing in and stable coins are not stable they remain stable until people get bored and stop buying and then they collapse. I do not think USDC will collapse this time but in the next 5 years it will not exist. Bitcoin will exist and will be more stable because it is still around when USDC will not.