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dYdX: All Positions, Collateral, Funding Payments in USDC Are Worth Less in USD Terms in USDC De-pegging

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A recent Tweet from crypto trading platform dYdX suggests that there is a risk of USDC (a stablecoin pegged to the US dollar) de-pegging, which means that its value may fluctuate in relation to the US dollar. As a result, all positions, collateral, and funding payments held in USDC would also be affected.

However, dYdX clarifies that traders would not be liquidated as a direct result of any USDC-USD price changes. Additionally, funding payments would still function as normal, with traders exchanging payments in USDC proportional to their USDC notional.

Overall, this news highlights the potential risks associated with holding stablecoins, as they are not immune to market fluctuations and may not always maintain a stable value. It's important for traders to be aware of these risks and take appropriate measures to manage them.

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