Circle had its most difficult week of the year after USD Coin [USDC] lost its dollar peg. Although it has.
Jeremy Allaire, CEO and co-founder of Circle, stated that the stablecoin issuer has been “able to access” its $3.3 billion.
As the collapse of Silicon Valley Bank (SVB) caused FUD in the larger crypto market and depegged the USD Coin.
All cryptocurrencies’ market capitalization has surpassed $1 trillion once again. The damaged cryptocurrency market turned green after a joint statement.
Late Friday night, the USDC issuer Circle Internet Finance released a statement saying that it “awaits clarity” from federal banking.