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How USDC and stablecoins are affected by SVB collapse

Did you know that USDC and stablecoins, since 25% of their deposits were held in SVB?
(Last Updated On: March 12, 2023)

Did you know that USDC and stablecoins, since 25% of their deposits were held in SVB? This was the bank that just collapsed 2 days ago. You should only trade in USD with Kraken. Anyhow, this could be a major blow to crypto. There is also an article to Choke Point 2.0, which makes this a point to a potential conspiracy theory.

 

Control your banking to preserve your wealth

banking – QUANTLABS.NET

USDC Stable coin

Curious why we saw a bank run in the United States as Silicon Valley Bank collapsed? Want to know if there is a contagion that may spread to other banks? Peter St Onge breaks it down. from Bitcoin

https://cryptodaily.co.uk/2023/03/circle-has-over-3-b-tied-up-at-silicon-valley-bank

USDC Is In Trouble, But It Won’t Go To Zero Like UST Did – Here’s Why

https://www.bitcoininsider.org/article/208285/crypto-industry-danger-vc-nic-carter-says-operation-choke-point-20-well-underway

Panic over!? Circle just opened their new DEX exchange, with $1.3 billion liquidity on stablecoin pair, putting a solid floor under USD Coin. While other exchanges haven’t yet filled the gap, it is inevitable at this point! What a weekend, crazy times. Congrats to everyone who bought for $0.90! from ethereum

Binance And Coinbase Temporarily Suspend USDC Conversion After Silicon Valley Bank Collapse

https://cointelegraph.com/news/usdc-slowly-repegs-on-unconfirmed-reports-of-svb-resolution

Panic over!? Circle just opened their new DEX exchange, with $1.3 billion liquidity on stablecoin pair, putting a solid floor under USD Coin. While other exchanges haven’t yet filled the gap, it is inevitable at this point! What a weekend, crazy times. Congrats to everyone who bought for $0.90! from ethereum

"Bank Run" on bitcoin exchanges happening now from Bitcoin

https://www.bitcoininsider.org/article/208275/nine-out-top-10-stablecoins-trading-below-peg-usdc-contagion-spreads-tether-sole

USDC de-pegs, Kraken CEO wonders if the market is losing trust in US products

https://cointelegraph.com/news/circle-s-usdc-instability-causes-domino-effect-on-dai-usdd-stablecoins

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