Circle CEO announced that they are trying to bail out funds in troubled banks.
Circle CEO announced that they are trying to bail out funds in troubled banks.
The trending altcoin CEO revealed that his company has access to reserve assets in his Silicon Valley Bank account on Monday.
The SVB and Silvergate collapse, most recently the de-peg of stablecoin USDC, has negatively impacted the cryptocurrency space.
Even if USD Coin (USDC) company Circle loses its money in Silicon Valley Bank
Altcoin-buying VCs are confident that the Silicon Valley Bank (SVB) crisis can be recouped quickly. Will USDC recover?
With Efe Bulduk, we compiled the collapse of the US-based bank company Silicon Valley Bank, the collapse of the stablecoin service USDC, and the burgeoning crypto market.
Circle reserves remained in bankrupt Silicon Valley Bank. USDC has lost its price stability, can it enter a death spiral?..
While USDC issuer Circle admitted that it could not withdraw nearly $3 billion from Silicon Valley Bank, USDC was observed to be depeg.
The Bitcoin and altcoin crisis hit on Saturday as the failure of Silicon Valley Bank (SVB) caused some of the industry’s core plumbing to spiral out of control.
Crypto wallets have withdrawn $902 million USDC from central exchanges in the last 24 hours amid the SVB and Silvergate shutdowns.
