2025-12-06 11:28:50

I took a look at the financials of a certain stablecoin giant—they’ve hoarded nearly $10 billion in BTC, and an even crazier $13 billion in gold.

On paper, things look solid: total assets of $181.2 billion, IOUs of $174.4 billion, so only a $6.8 billion safety cushion.

But here’s where it gets interesting—what if both BTC and gold drop by 30% at the same time? That buffer would instantly vanish. Would they have to dump coins on the market to recover?

Just thinking about it is nerve-wracking. Could this be one of the triggers for the next bear market? I’m definitely a bit anxious.

BTC-1.2%

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GasFeeCryBaby

· 6h ago

A $6.8 billion safety cushion really can't hold up, huh? I just want to know if they'll dare to dump this time. If both BTC and gold drop 30% together, it would be a total blowup—I'm not being alarmist, right? This is what real systemic risk looks like, way more intense than anything like Luna.

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LowCapGemHunter

· 12-07 19:38

A $6.8 billion safety cushion against $23 billion in double assets—this leverage is really insane. If a liquidation sell-off is triggered, it could really catch people off guard. --- Sounds like they're setting a fuse for the next crash, kind of scary. --- This is exactly why I never put all my chips in stablecoins... way too fragile. --- Following this logic, when a bear market hits, these high-leverage types will be the first to suffer. --- Why does it feel like stablecoin issuers are playing crazier than retail investors? I really don't get it. --- A 30% plunge would cause an instant blowup? There seems to be a serious problem with this risk pricing. --- I'm freaking out too, man. Thanks a lot, guess I won't be sleeping tonight.

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FudVaccinator

· 12-06 11:58

6.8 billion as a buffer, haha, that’s really not enough. If BTC drops by 30%, it’s game over. --- Another “catalyst” theory—really? Even if stablecoins collapse, it’s nothing new. --- But seriously, do they really dare to dump? If they do, the whole industry will go down with them. --- If this logic held, it would’ve blown up already. Why wait until now? --- Feels like every time people talk about the next bear market, but when will it actually arrive? --- 13 billion in gold—now that’s a heavy allocation, but the risk is just as heavy. --- Only 6.8 billion as a safety net? That’s even sketchier than I thought. --- Instead of panicking, might as well hop on. We have to bet on this one way or another.

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GateUser-4745f9ce

· 12-06 11:58

68 billion in buffer against 174.4 billion in IOUs? Honestly, that's some aggressive leverage. If BTC and gold both drop 30% at the same time, that's an instant blow-up. What will they rely on to recover then? The stablecoin business looks glamorous on the surface, but it's really just a bet that the market won't turn too bad. If they actually have to sell off assets to recover, that would be a disaster—the whole market would have to pay the price. This feels like a ticking time bomb; it's just a matter of who steps on it first.

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MainnetDelayedAgain

· 12-06 11:57

According to the database, it’s been several bull and bear cycles since we last called this 68 billion safety cushion "stable." Let’s just wait patiently for things to bloom. --- If BTC and gold both really drop 30% together, it’s not just about selling to recover losses anymore—it’s a matter of survival. That should be included in the Guinness World Records. --- 174.4 billion IOUs vs. 181.2 billion in assets—this ratio deserves a spot on the extension notice list. Let’s see how long it can be delayed. --- If things really take a dive, how many days has it been since the project team started overpromising? Has anyone kept track? Feel free to add more data. --- It sounds pretty solid, but with a setup where a 30% drop means going to zero, that’s the art of timing. --- Anyway, I’m a bit nervous, I admit it. Even the next trigger will have to wait its turn.

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APY追逐者

· 12-06 11:46

A $6.8 billion safety cushion? That's a joke, it's just a paper tiger. Wait, why are they hoarding so much gold, even more than BTC? If they really dump it, it could trigger a direct collapse. This is way too risky.

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IronHeadMiner

· 12-06 11:44

6.8 billion buffer, it's really just a single thread, the risk has already overflowed.

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ContractTearjerker

· 12-06 11:35

The 6.8 billion safety cushion is honestly hilarious. A 30% drop and it goes straight to zero—this is literally playing with fire.

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TokenomicsTrapper

· 12-06 11:31

ngl if you read the actual reserve breakdown... 68b cushion against 1.8t in liabilities is absolutely textbook greater fool theory. classic exit pump pattern incoming once btc dumps 30%.

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