Get the "Ultimate Guide to Bitcoin" course:https://www.trader.university/courses/38824-the-ultimate-guide-to-bitcoinUse the discount code YT99 to get the best price. In this video, I discuss the USD stablecoins USDC and DAI breaking their pegs to the US dollar, as the result of over 8% of Circle's USD reserves being trapped in Silicon Valley Bank (SVB), which failed yesterday.USDC was already a centralized, captured coin that could be turned on or off at will by the parent company Circle. Now we can see that it is not even stable when it comes to its price.Like everything in "DeFi Land," stablecoins are decentralized in name only ("DINO") and should not be trusted with your long-term savings, in my opinion.All stablecoins are actually unstablecoins.Bitcoin is my stablecoin.Not investment advice! Consult a financial advisor."Always-on dollars" lol:https://www.circle.com/en/usdchttps://www.theblock.co/linked/70850/centre-blacklist-usdc-addresshttps://www.theblock.co/post/162172/circle-freezes-usdc-funds-in-tornado-cashs-us-treasury-sanctioned-walletsStablecoin Firm Circle Reveals $3.3 Billion Exposure to Silicon Valley Bank:https://www.bloomberg.com/news/articles/2023-03-10/binance-tether-say-no-svb-exposure-while-circle-stays-mumCoinbase, Binance Suspend USDC Conversions:https://decrypt.co/123208/coinbase-binance-suspend-usdc-conversions-as-dollar-peg-wobblesEquilibrium price of USDC is zero:https://twitter.com/coryklippsten/status/1634455168732508160MakerDAO Votes to Custody $1.6 Billion in USDC With Coinbase:https://decrypt.co/112808/makerdao-custody-usdc-coinbaseBanks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve:https://satoshi.nakamotoinstitute.org/posts/p2pfoundation/1/#selection-45.226-45.381Should Bitcoin Be Backed By Something?https://www.youtube.com/watch?v=E6pGmGESjHw&ab_channel=TraderUniversityUSDC has depegged to 91 cents:https://coinmarketcap.com/currencies/usd-coin/DAI has depegged to 93 cents:https://coinmarketcap.com/currencies/multi-collateral-dai/DAI Depegs to Lifetime Lows:https://www.coindesk.com/markets/2023/03/11/dai-depegs-as-stablecoin-rout-plagues-crypto/BlockFi has $227m in Silicon Valley Bank:https://twitter.com/LaurenSHirsch/status/1634315816106618880People who want to privatize the profits and socialize the losses:https://twitter.com/ddisparte/status/1634395755648630784Bitcoin has no exposure to SVB:https://twitter.com/DylanLeClair_/status/1634370140715327488Bitcoin is my bank:https://pbs.twimg.com/media/Fq5SruIWAAM1XNW?format=jpg&name=mediumI am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos. My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.#stablecoin #usdc #bitcoin DisclaimerNeither Trader University, nor any of its directors, officers, shareholders, personnel, representatives, agents, or independent contractors (collectively, the “Operator Parties”) are licensed financial advisors, registered investment advisors, or registered broker-dealers. None of the Operator Parties are providing investment, financial, legal, or tax advice, and nothing in this video or at www.Trader.University (henceforth, “the Site”) should be construed as such by you. This video and the Site should be used as educational tools only and are not replacements for professional investment advice. The