You are tired of inflation, fake promises from central banks, and silly advice from economists on YouTube, and you decided — that's it, I'm going into crypto! I’m taking control of my money into my own hands because, as you know, Bitcoin is freedom, decentralization, and lack of censorship.
…And here you are, all free, proud, and incorruptible, suddenly deciding not to take risks and converting everything to USDC — the digital dollar from a company partially supported by the very same people you just ran away from. Bingo.
USDC: The currency of revolution. Only with permission
USDC, if you’re not aware, is like a “dollar on the blockchain” — so it seems decentralized, but in reality, it’s all under control. The issuer is Circle, based in the USA, cooperating with regulators, and can freeze your coins with the press of a button if someone doesn't like you. True freedom, right?
So what if you invested money, made money on DeFi — and then it turns out you got “sanctioned.” And you didn't even understand what you did. You just weren't liked.
“Every dollar is backed!” — the truth in fine print
Circle and Coinbase swear: every unit of USDC is backed by real dollars and securities. And that's almost true. Almost.
Somewhere deep in some fund, there are bonds bought with your numbers on the screen. Cozy lying there. And as long as no one is panicking — everything works. But when in 2023 the partner bank of Circle (Silicon Valley Bank) collapsed, USDC temporarily “uncoupled” from the dollar. Not by much — only 12%. But agree, for a stablecoin, that's like Swiss watches being a minute slow. Worrying.
Who actually uses USDC?
• Traders who need to quickly move liquidity without tax nightmares
• DeFi enthusiasts farming yields as if they know what they are doing
• Those who want stability but are afraid of banks — ironic, isn’t it?
But here's the cherry on top: USDC is increasingly used in international settlements, bypassing SWIFT. That is, even states are starting to breathe toward Circle. Don't you find that... suspicious?
What's next? USDC in Starbucks coffee shops?
If you think crypto takes you away from the traditional banking system — think again.
USDC is a dollar with a nice web3 facade, approved by those who love to check your KYC and talk about “terrorists” if you transfer money without permission.
This is not a revolution. This is rebranding.
USDC is like if the Fed decided to wear a Bitcoin t-shirt, get a tattoo of “liberty,” and declare:
“Yo, we're with the people!”
And then the button to “freeze your wallet” was pressed because you bought a VPN. Or watched the wrong tweet.
So the next time you say:
“I hold in USDC to sleep peacefully” —
ask yourself:
who is actually sleeping more peacefully? You… or Circle?
