Circle’s USDC Endured $1B of Net Redemptions Since Silicon Valley Bank’s Shutdown

circles usdc endured 1b of net redemptions since silicon valley banks shutdown
circles usdc endured 1b of net redemptions since silicon valley banks shutdown 1

USDC is the second-largest stablecoin, trailing only Tether’s USDT, and a backbone of the crypto ecosystem. The token’s value is backed by U.S. government bonds and cash-like assets, including a total $11.1 billion of cash deposits at various regulated banks, according to Circle’s website.

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