The wires initiated by Circle on Thursday to remove balances from SVB were not yet processed, $3.3 billion of the ~$40 billion of USDC reserves remain at SVB.
Like other customers and depositors who relied on SVB for banking services, Circle joins calls for continuity of this important bank in the U.S. economy and will follow guidance provided by state and Federal regulators.
It needs to have more detail to ofrecast this insident.
Regarding recent public information, USDC may recover its 1 dollar pegging. But at this moment, still more information is required to see exactly.
Wonder how nobody here post anything about it. Great content @harryji