Binance CEO CZ ‘Banks are a risk to fiat-backed stable coins’ in reaction to SVB, USDC Depegging
Changpeng Zhao has hinted at the possibility of purchasing a bank in light of recent problems with crypto-friendly banks.
USDC Holders Panic Sell Amid Solvency Concerns
On March 10, concerns about the solvency of USD Coin (USDC) led several holders to panic sell their holdings and switch to other stablecoins. One user lost over 2 million…
Circle Pledges To ‘Stand Behind’ USDC And Cover Missing Liquidity In Failed Silicon Valley Bank
Circle Internet Financial has promised to resume normal USDC liquidity operations from Monday, enabling the redemption of the troubled stablecoin at 1:1 with the United States dollar.
USDC Dominated Trading Volume on Decentralized Exchanges Amidst Depegging Incident
On Saturday, several centralized crypto trading platforms and payment processors stopped USDC auto conversions. However, USDC experienced a significant trading volume on decentralized exchange (dex) platforms such as Uniswap, Curve,…
USDC Hits All-Time Low As Investors Pull Out Funds From The Stablecoin
USDC has been hit with a bearish wave following news of the collapse of Silicon Valley Bank on March 11. The stablecoin issuer Circle had revealed that it had $3.3…
Explaining the Silicon Valley Bank Fallout and USDC De-Peg
Silicon Valley Bank’s collapse caused USDC to depeg from $1 over the weekend, hitting a low of $0.88.
USDC Regains 7% After Depeg, Circle Pledges to Cover Reserve Shortfalls
USDC rallied to as high as $0.98 following news that its issuer Circle promised to cover any shortfall in its reserves.
Binance Exchange Boosts Liquidity With New USDC Trading Pairs
In a press release, the exchange stated that it has added Binance Coin (BNB)/USD Coin (USDC), Bitcoin (BTC)/USD Coin (USDC), and Ethereum (ETH)/USD Coin (USDC) trading pairs.
Breaking: $40 billion of USDC reserves remain at collapsed Silicon Valley Bank – USDC crash coming?
Circle says $3.3 billion worth of USDC reserves are still at Silicon Valley Bank. Coinbase and Binance temporarily halt USDC:USD conversions.
Circle Commits to Covering USDC Shortfalls – Ensures Redemption at 1:1 with USD
USDC issuer Circle has pledged to cover any shortfall in the stablecoin’s reserves if it does not receive the entirety of the $3.3 billion held at now-collapsed Silicon Valley Bank.
