USDC-ERC20USLFuRVcNUGfFhAJDe87PjSvojaR1dU4DSNDAZ3rvAV

Fifteen Oligarchs Walk Into a Stablecoin

Here we observe a most peculiar specimen: a stablecoin that achieved the impossible feat of remaining perfectly stable while circling the drain. With a mere 15 holders controlling every last token, this USDC derivative has all the decentralization of a monarchy and all the liquidity of a high-school's vending machine. In just 85 hours, it mastered the delicate art of trading $226k daily on a $210m liquidity pool—a ratio that suggests either profound apathy or profound understanding of futility.