Published 03/11/2023 9:56:00 a.m.

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.

03/11/2023 7:32:00 a.m.·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.

03/11/2023 7:25:40 a.m.·United Kingdom

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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…

03/11/2023 4:11:12 p.m.·Idaho Falls, United States

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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.

03/11/2023 8:20:21 a.m.·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)

03/11/2023 1:25:58 p.m.·Canada

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Bloomberg

Stablecoin Firm Circle Reveals $3.3 Billion Exposure to Silicon Valley Bank

Stablecoin giant Circle Internet Financial Ltd said $3.3 billion of its about $40 billion of USD Coin reserves remain at Silicon Valley Bank, which collapsed in one of the largest bank failures in US history on Friday.

03/10/2023 9:44:19 p.m.·United States

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