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.
Related posts
-
Non-Empty USDC And USDT Wallets See 13.9% And 15.7% Spike, Why This Is Good For Crypto
Non-empty wallets for stablecoins such as Circle’s USDC and Tether’s USDT have been on the rise... -
Community angry after Coinbase taps USDC to celebrate Bitcoin Pizza Day
In a bid to demonstrate cheap payments with USDC, Coinbase faced backlash from the Bitcoin community... -
TrueUSD’s (TUSD) zero-fee trading campaign on Bitci amid Turkish stablecoin adoption surge
Disclosure: This article does not represent investment advice. The content and materials featured on this page...