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The popular stablecoin USDC has regained its $1 peg price after regulators in the US assured that depositors in Silicon Valley Bank (SVB) can access their money today.
The assurance from the government means that all Silicon Valley Bank depositors will be made whole, despite the bank’s collapse and wipeout of investor money. USDC issuer Circle was among the depositors in the bank, and stood to lose approximately $3.3bn in the bank collapse….
Read More: USDC Crisis Averted? Federal Regulators Offer Reassurance to Silicon Valley Bank Depositors, Ensuring Access to Funds
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