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Tag: $FRAX

USDC Stablecoin Depegs Following Silicon Valley Bank Collapse

In brief:USDC stablecoin loses its peg to the U.S. dollar and drops as low as $0.88 following the collapse of Silicon Valley Bank.Tether maintains its peg while other stablecoins see minor drops.Circle’s $3.3 billion held at Silicon Valley Bank amounts to 8.25% of its $40 billion reserves.Frax, a decentralized stablecoin partly backed by USDC, also depreciates to $0.90.The fallout from the collapse of Silicon Valley Bank...

$FRAX, $USDC, Bankruptcy, Front page, Main, Silicon Valley Bank (SVB), Stablecoins

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