Circle’s USDC Regains $1 Peg After Tumultuous Weekend
After breaking its peg over the weekend and trading as low as $0.87, Circles USDC stablecoin is now at $1 again. 1 USDC for $0.87 All eyes are on USDC...
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Circle clears ‘substantially all’ minting and redemption backlog for USDC
The stablecoin issuer says that from March 13 and March 15, it redeemed $3.8 billion USDC and minted $0.8 billion USDC.
Recent contagion was ‘TradFi to crypto’ and not vice versa — Circle policy director
“What happened over the last several days was a bit of an ironic black swan situation where the contagion was not from crypto to TradFi," said Caroline Hill.
USDC bounces back toward $1 peg after Fed announcement
Positive developments concerning Circle's $3.3 billion worth of reserves held at Silicon Valley Bank and its new banking partners have seen USDC climb back toward its $1 peg.
Insolvency fears led many to turn to other stablecoins, sell USDC at a major discount
Several USD Coin holders have fled to other stablecoins amid fears surrounding its solvency.
Circle plans to cover missing liquidity in Silicon Valley Bank with corporate funds
According to Circle, USDC liquidity operations will "resume as normal when banks open on Monday morning in the United States," enabling USDC redemption at 1:1 with the U.S. dollar.
Aave freezes stablecoin trading on Avalanche V3 as activity surges on CEXs
The trading freeze follows an analysis from DeFi's risk manager firm Gauntlet Network considering different scenarios for the USD Coin price.
Curve Finance trading volume reaches $7B historic high after USDC depeg
The USD Coin depeg led the DeFi protocol to experience a record-breaking daily trading volume as crypto whales fight for assets.
Banks down? That is why Bitcoin was created, crypto community says
Silicon Valley Bank (SVB) collapse on March 10 has sparked fear, doubt, and uncertainty (FUD) across the crypto community.
USDC Tumbles to $0.93 as Circle Reveals $3.3 Billion Held at SVB, Tether and Binance Not Exposed
Following the second-largest bank collapse in American history on Friday, market participants are worried about which firms might be caught up in the contagion surrounding Silicon Valley Bank (SVB). Here’s…
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