USDC Is In Trouble, But It Won’t Go To Zero Like UST Did – Here’s Why
USDC, the stablecoin tracing the USD, is under immense pressure as users rush to convert to other assets, including BUSD by Paxos and USDT by Tether Holdings. USDC Has De-pegged…
USD Coin
USDC, the stablecoin tracing the USD, is under immense pressure as users rush to convert to other assets, including BUSD by Paxos and USDT by Tether Holdings. USDC Has De-pegged…
The USDC stablecoin lost its $1 peg after its issuer Circle said it has $3.3 billion stuck in the embattled Silicon Valley Bank.
USD Coin (USDC/USD) has fallen below $0.90, sharply depegging after Circle confirmed exposure to Silicon Valley Bank. The cryptocurrency news this Saturday also sees major cryptocurrencies, including Bitcoin and Ethereum…
On Friday (March 10), Californian regulators closed Silicon Valley Bank (SVB) — due to a capital crisis and a bank run — and placed it under the control of the…
The US financial crisis has spread to the crypto market, which can be clearly seen by the fact that USDC is losing its $1 peg.
USD Coin , lost its dollar peg on some exchanges, over concerns that reserves backing the second-largest stablecoin by market cap, were stuck in the failed Silicon Valley Bank (SVB).
On Friday, two top cryptocurrency exchanges, Binance and Coinbase, announced they would suspend USDC conversions temporarily while the repercussions of Silicon Valley Bank’s closure were assessed.
While the crypto market responded with a massive sell-off, not all USDC investors were lucky enough to walk away with their funds amid the uncertainty.
The collapse of Silicon Valley Bank (SVB) on March 10 has sent shockwaves through the crypto industry, leaving many investors concerned about the exposure of major players like Circle, the…
Coinbase recently stated on their official Twitter that they would cease their USDC to USD conversion service.