USDC Stablecoin Depegs From $1; Circle Says Operations Are Normal

usdc stablecoin depegs from 1 circle says operations are normal
usdc stablecoin depegs from 1 circle says operations are normal 1

An undisclosed portion of USDC’s cash reserves are parked at the now-failed bank, leading to concern that money backing the stablecoin is now stuck. Stablecoins like USDC are a key part of the crypto industry’s foundation, and when they stray far from $1 (or whatever fiat asset they’re pegged to) that suggests concern about their financial footing.

Leave a Comment