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❗️#USDC IS IN THE DEPEGING PROCESS!
The reason is that the Circle company (issuer of USDC) reported that $3.3 billion of the ~$40 billion of USDC reserves remain at SVB bank which has collapsed recently.:-https://edition.cnn.com/2023/03/10/investing/svb-bank/index.html
The reason is that the Circle company (issuer of USDC) reported that $3.3 billion of the ~$40 billion of USDC reserves remain at SVB bank which has collapsed recently.:-https://edition.cnn.com/2023/03/10/investing/svb-bank/index.html
CNN
Silicon Valley Bank collapses after failing to raise capital | CNN Business
Silicon Valley Bank collapsed Friday morning after a stunning 48 hours in which a bank run and a capital crisis led to the second-largest failure of a financial institution in US history.
Circle CEO: 100% of USDC reserves are also safe and secure, and we will complete our transfer for remaining SVB cash to BNY Mellon
https://twitter.com/jerallaire/status/1635059024050937856?s=46&t=sWGD9CxuUQCh3BlIiRdk0g
https://twitter.com/jerallaire/status/1635059024050937856?s=46&t=sWGD9CxuUQCh3BlIiRdk0g
🚀 USDC dePegg
100% USDC Reserves are Safe and Circle will complete transfer for remaining SVB cash to BNY Mellon on Monday.
👉 Info :- https://twitter.com/jerallaire/status/1635059024050937856
100% USDC Reserves are Safe and Circle will complete transfer for remaining SVB cash to BNY Mellon on Monday.
👉 Info :- https://twitter.com/jerallaire/status/1635059024050937856
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