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

USDC stablecoin breaks dollar peg following Silicon Valley Bank collapse

The abrupt collapse of Silicon Valley Bank has affected the value of USD Coin, the world’s fifth-largest cryptocurrency..

OH NO - Crypto Exchange CIRCLE Admits It had a $3.3 Billion Exposure at Silicon Valley Bank

Another crypto exchange is in the news and it’s not good. According to CNBC: 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 announcement comes after startup-focused SVB collapsed on Friday in the largest bank failure since the 2008 financial crisis, roiling global markets and stranding billions of…

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…

Circle assures market after stablecoin USDC breaks dollar peg

By Elizabeth Howcroft and RISHABH JAISWAL LONDON (Reuters) -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

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

(CNN) — 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, […]

USD Coin value falls after revealing $3.3bn held at Silicon Valley Bank

The stablecoin fell as low as $0.87 as Circle broke the news that its reserves were at the collapsed lender