Extremely interesting market, now still p small, but being able to long/short supplies is a new money lego that could be quite useful in a series of situations.
E.g.
1) SVB - whether you had a view or not on USDC repegging, for sure supply was going to crash
2) Binance switching over to USDC - can easily become a trade, not only through CRCL (uncertain) but through USDC supply (ez trade).
and many other such cases
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