As it stands right now bitcoin market cap https://www.coingecko.com/en is at $600 billion, not near the top most valuable public companies yet and not sure what coinbase will be priced at
Dollar of course. No one cares about Bitcoin or Ether or Ripple or Litecoins or Kittycoins or ... aside from their value in $$$. They are not currencies, they are speculation objects.
Or maybe all buy orders have disappeared. Looking at the last exchange price does not measure the value of a cryptocurrency, you need to look inside order books to see if anyone is even interested in buying your cryptocurrency. It’s not relevant to the value of your cryptocurrency that someone was once willing to buy it.
Worth noting that Maker is different than those other because there's no central authority holding fiat money to maintain the peg. Their stablecoin Dai is minted "out of thin air" and the price peg is maintained via an interest rate mechanism built into the smart contract.
> When someone does a bank heist USD doesn't get devalued
This is a bad comparison. If a bank experiences a sizable heist, their stock price will probably fall because shareholders eat dirt before depositors. Such explicit seniority doesn't exist in the cryptospace, however, so depositors would probably eat dirt alongside the exchange.
