Stablecoins $USDC and $DAI Lose Their Peg to The Dollar
A New Wave Of Panic In The Crypto Market
Centralized stablecoin $USDC is in jeopardy after the bankruptcy of Circle’s partner and crypto-friendly bank, Silicon Valley Bank, caused a chain reaction.
The SVB collapse created a $3.3 Billion gap in USDC’s accounting books. USDC is issued and managed by a Coinbase-Circle…