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Published 7 months ago

Binance And Coinbase Scramble To Halt USDC Conversions Amid Silicon Valley Bank Chaos

Summary by Ground News
Binance andCoinbase suspend USD Coin USDC/USD conversions due to fallout from collapse of Silicon Valley Bank. The move followed worries that Circle, the company behind USDC stablecoin, held some of USDC's cash reserves at the bank. $3.3 billion worth of the cash backing USDC remains locked in Silicon Valley bank.
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BenzingaBenzinga

Binance And Coinbase Scramble To Halt USDC Conversions Amid Silicon Valley Bank Chaos

Cryptocurrency exchanges Binance (CRYPTO: BNB) and Coinbase Global Inc (NASDAQ: COIN), two of the top cryptocurrency exchanges, announced temporary suspensions of USD Coin (CRYPTO:

7 months ago·New York, United States
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techmeme.comtechmeme.com

Techmeme

The essential tech news of the moment. Technology's news site of record. Not for dummies.

7 months ago
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Coin DeskCoin Desk

Coinbase Pauses Conversions Between USDC and U.S. Dollars as Banking Crisis Roils Crypto

Circle earlier confirmed it has $3.3 billion backing its USDC stablecoin parked at now-shuttered Silicon Valley Bank.

7 months ago
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decrypt.codecrypt.co

Coinbase, Binance Suspend USDC Conversions as Dollar Peg Wobbles

After Circle disclosed how much of its USDC stablecoin is backed by reserves held by Silicon Valley Bank, exchanges show caution signs.

7 months ago
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Crypto News GapCrypto News Gap

Coinbase, Binance Suspend USDC Conversions as Dollar Peg Wobbles

crypto news, Top cryptocurrency exchanges Binance and Coinbase both said on Friday night that they would temporarily suspend USDC conversions as the contagion from the

7 months ago
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TheNewsCrypto - Blockchain & Cryptocurreny News Media | Crypto GuideTheNewsCrypto - Blockchain & Cryptocurreny News Media | Crypto Guide

Both Binance and Coinbase Temporarily Suspend USDC Conversions

Action was taken because of fears that USDC stablecoin issuer Circle was keeping part of the stablecoin's cash reserves at Silicon Valley Bank.

7 months ago
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