USDC Stablecoin Issues
Added 2023-03-11 12:24:07 +0000 UTCWe are emailing today to share information on the overnight developments regarding the USDC stablecoin (USDC).
Overnight, Silicon Valley Bank (SVB) was shut down by the Federal Deposit Insurance Corporation (FDIC), and depositors may be affected.
SVB (different from Silvergate) happens to be 1 of the 6 banks that hold collectively 25% of Circle’s reserves. As Circle has not yet clarified the exact percentage of exposure, the potential range is UP TO 25%, but unlikely to be the whole amount.
FDIC Failed Bank List
FDIC Press Release on Silicon Valley Bank (SVB)
Just a heads up, this is most likely the start of the slide the team predicted in the March - April timeframe. So lock n load, stay frosty, and be great each and every day.
More to come on Monday.
Thank you all for being one of us.
Edd@HQ
Comments
Aloha...I would be interested in the report also..my email is: success881@hawaiiantel.net. Thanx
2023-04-23 03:04:55 +0000 UTCReally!? I’d love to see that! If you can email me casale.philip@gmail.com, appreciate it!
2023-03-16 14:47:25 +0000 UTCi have a PDF with all SVP depositors, funds, amounts etc if anyone is interested?
Crypto Rich
2023-03-12 15:57:49 +0000 UTC
