Silicon Valley Bank leaves USDC bleeding- Will it impact Stablecoin market?

USDC’s market cap fell from $43.56 billion to $38.9 billion, a drop of over 11%. As per Nansen, Circle burned $2.34 billion worth of USDC in the last 24 hours. USD Coin [USDC], lost its dollar peg on some exchanges, over concerns that reserves backing the second-largest stablecoin by market cap, were stuck in the […]