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Published 1 year ago

USDC Stablecoin Depegs From $1; Circle Says Operations Are Normal

Summary by Ground News
USD Coin (USDC/USD) has fallen below $0.90, sharply depegging after Circle confirmed exposure to Silicon Valley Bank. Bitcoin and Ethereum struggle with selloff pressure near $20,000 and $1,400 respectively. The events around USDC have seen cryptocurrency exchanges Binance and Coinbase briefly halt conversions involving the stablecoin.

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