RE: Millions of Crypto Investors Got Duped Into Buying US Debt 😱
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Yep! Most of USDC & USDT is just US Debt. DAI despite being decentralized is mostly backed by US debt by proxy. BUSD is at least just keeping their USD in bank for the most part.
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The consequences will be unheard of. DAI will soon be in trouble.
Let's hope people will realize it's a bad idea to support your crypto protocols with government debt!