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.

BTC0.12%

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FudVaccinator

· 13h ago

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

· 13h ago

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

· 13h ago

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

· 13h ago

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

· 13h ago

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

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ContractTearjerker

· 13h ago

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

· 13h ago

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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