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The Daily Hodl
2023-03-11 16:38:33

$6,300,000,000 Erased From USDC Market Cap As Top Stablecoin Depegs From US Dollar

$6,300,000,000 Erased From USDC Market Cap As Top Stablecoin Depegs From US Dollar

USD Coin (USDC) is struggling to maintain its peg to the US dollar after revelations that some of the cash backing the top stablecoin is stuck in Silicon Valley Bank. The Boston-based firm says $3.3 billion of the $40 billion backing USDC is locked in the collapsed bank, which is now controlled by the FDIC. The post $6,300,000,000 Erased From USDC Market Cap As Top Stablecoin Depegs From US Dollar appeared first on The Daily Hodl .

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