Circle has $3.3 billion in deposits at Silicon Valley Bank, and USDC has depegged to below $0.94
ChainCatcher news, Circle stated on Twitter that out of the approximately 40 billion dollars in USDC reserves, 3.3 billion dollars are held in Silicon Valley Bank. Circle has called for Silicon Valley Bank, which plays a significant role in the U.S. economy, to remain operational and will follow the guidance provided by state and federal regulators.
Additionally, according to CoinGecko data, the stablecoin USDC remains depegged, currently reported at 0.938 dollars, with a 24-hour decline of 6.3%. (source link)
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