Wee Teo

@Eug_Ng The reason to liquidate $BTC is not sound. Wouldn’t it be easier to move crypto around to avoid sanctions, than to convert to fiat and then move the fiat around? If crypto is already “in banking system”, it’s futile anyhow.

@CryptoHarry_ Under severe market stress, correlation of everything goes to 1. Minting $UST using $BTC then creates an extra problem when the value of $BTC falls sharply and there’s a rush to redeem $UST. Just build the $BTC reserves without minting $UST?

In relation to $UST and #bitcoin. 🧵👇