USD Coin loses peg to dollar due to reserves at Silicon Valley Bank(Crypto:USDC-USD)

March 13, 2023

in Stocks

Reading Time: 2 mins read

USD Coin (USDC-USD) lost its peg to the dollar, touching an all-time low on Saturday, after the firm behind the coin, disclosed that some of the reserves backing the purported stablecoin were held at Silicon Valley Bank, which failed on Friday.

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USD Coin loses peg to dollar due to reserves at Silicon Valley Bank(Crypto:USDC-USD)

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USD Coin loses peg to dollar due to reserves at Silicon Valley Bank(Crypto:USDC-USD)

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