Are any coinbase employees staking USDC? Is USDC safe? Same goes out to Gemini and GUSD. These two seem like the best stable coins out
Yeah it powers the CB debit card too
Think working at a stable coin like Circle is a good and stable move?
No. GUSD and USDC is backed by the USD. I don’t know any other coin at their scale doing that
Tether used to say the same. How do we know they actually do have 1:1 ? We cant
GUSD on Gemini is very stable. Though the returns might not be the highest when staking you can be sure you’ll actually get a return and your position won’t go to 0.
The 6.9% return is enticing. Risk of de-pegging? even if it doesn’t go to 0 depegging from the dollar can hurt
We’re the most regulated and scrutinized crypto exchange. You can feel at ease with GUSD! Once again there are other stable coins with higher returns but ours is the safest
a lot of people said same about Tether 🤣🤣🤣
Tether is still stable. Please get the name right if you’re going to try to bash the coin atleast
It’s stable alright but as we later found out they minted bunch of tokens with no reserve to back it all up. And after the UST crash (I get it, algorithmic, diff story) im skeptical of all of them now.
I hear LUNA 2.0 is going to be great 😂
It’s just amazing to see that how some crypto HODLers think that they know crypto better than Warren Buffet and Bill Gates!! Just amazing 😻
Wow... You just used Warren Buffet and Bill Gates in the same line, while referring to investing expertise!!! One is a legend the other a dud
Yes I did - because these two wise men have publicly bashed crypto. Do you really think you are wiser or richer than them?
Will you be able to explain in simple terms… what’s the economics behind interest earned on GUSD? Where this 6.9% interest is coming from if all the dollar deposits are kept in bank?
Gemini loans it out at 15% through Genesis and gives you back 6.9%. Risk comes from the borrowers of Genesis defaulting
Ok. So in this whole setup what’s advantage of having a GUSD involved if GUSD value is pegged to US Dollar?
Yes so the major risk would be if Genesis defaults on interest payments to Gemini? If I pull my money out of earn, does gemini have to request from genesis?
@All - When I tried to ask some logical questions to OP about how GUSD works… he deleted the comment. Looks like GUSD here is nothing but a Ponzi Scheme (i.e. is an investment fraud that pays existing investors with funds collected from new investors.)
It's the safest among all stable coins.
I agree. I staked GUSD for almost a year now with great success. Luna had me worried a bit though ngl