USDCissuer Circle, from Silicon Valley Bank about $3 billionWhile admitting that he couldn’t where USDC is depegobserved.
Silicon Valley Bank ( SVB ) was shut down by the regulator after suffering a massive crash, which hit the crypto industry hard as well. The USDC issuer with a $40 billion asset in the SVB approximately $3.3 billion He admitted that he couldn’t take it. After the confession earlier this morning, the price of USDC It was observed that it decreased to $ 0.9 . For its money stuck, Circle cited that wire transfers didn’t quite work.
Circle Couldn’t Save $3.3 Billion
USDCissuer Circleof the $40 billion it tried to withdraw from Silicon Valley Bank, He admitted that he couldn’t save $3.3 billion.
He made statements on the social media platform Twitter. Circle , clarified the issue of stuck assets that has been discussed since the other day. Circle confirmed that the withdrawals it started on Thursday were not yet completed, and that it is still inside. He announced that he had $3.3 billion left.
The stablecoin issuer stated that it will follow the guidance of the regulators and will join the calls for the continuity of this bank, which is considered important.
While these statements of Circle created a bombshell effect on the agenda, due to the panic sales that emerged. USDC price of $0.9 levels were observed. The fact that USDC, which is the most actively used and billions of dollars in assets, is depeg, has created a shock effect in the crypto money market.
