Published 7 months ago

Crypto firm Circle reveals $3.3 bln exposure to Silicon Valley Bank

Summary by Ground News

U.S. cryptocurrency firm Circle has $3.3 billion of its $40 billion of USD Coin reserves at the collapsed lender Silicon Valley Bank, the company said in a tweet on Friday.

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Times of India

Crypto firm Circle reveals $3.3 bln exposure to Silicon Valley Bank

Traders have been on guard this week for signs of contagion in the financial sector and beyond from troubles for SVB and crypto-focused Silvergate, which this week disclosed plans to wind down operations and voluntarily liquidate.

7 months ago·India

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Reuters

Circle assures market after stablecoin USDC breaks dollar peg

Stablecoin USD Coin (USDC) lost its dollar peg and slumped to an all-time low on Saturday before recovering most of its losses after Circle, the firm behind it, assured investors it would honor the peg despite exposure to failed Silicon Valley Bank.

7 months ago·United Kingdom

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CNBC

Crypto firm Circle reveals $3.3 billion exposure to Silicon Valley Bank

Traders have been watching this week for signs of contagion in the financial sector from developments surrounding startup-focused Silicon Valley Bank and Silvergate.

7 months ago·United States

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KIFI

Stablecoin USDC breaks dollar peg after revealing $3.3 billion Silicon Valley Bank exposure

Reuters Stablecoin USD Coin (USDC) lost its dollar peg and slumped to an all-time low on Saturday after Circle, the US firm behind the coin, revealed some of the reserves backing it were held at Silicon Valley Bank. Circle has $3.3 billion of its $40 billion of USDC reserves at collapsed lender Silicon Valley Bank, the company said in a tweet Friday. The coin broke its 1:1 dollar peg and fell as low as $0.88 early Saturday, according to market t…

7 months ago·Idaho Falls, United States

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Financial Post

Stablecoin USDC breaks dollar peg after revealing $3.3 bln Silicon Valley Bank exposure

(Updates pars 1-9)

7 months ago·Canada

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OAN

Crypto firm Circle reveals $3.3 billion exposure to Silicon Valley Bank

(Reuters) - U.S. cryptocurrency firm Circle has $3.3 billion of its $40 billion of USD Coin reserves at the collapsed lender Silicon Valley Bank, the company said in a tweet on Friday. The stablecoin company's

7 months ago·San Diego, United States

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