AWOMANSPAGE
  • Home
  • Finance
  • Tech
    • Technology & Gadget
    • Blogging
    • Make Money Online
  • Relationships
  • Living
    • Health & Fitness
    • Personal development
    • Travel & Food
    • Fashion Design & Lifestyle
  • Real estate & Investment
No Result
View All Result
  • Home
  • Finance
  • Tech
    • Technology & Gadget
    • Blogging
    • Make Money Online
  • Relationships
  • Living
    • Health & Fitness
    • Personal development
    • Travel & Food
    • Fashion Design & Lifestyle
  • Real estate & Investment
No Result
View All Result
AWOMANSPAGE
No Result
View All Result
Home Technology & Gadget

USDC stablecoin breaks dollar peg following Silicon Valley Bank collapse

by Ashum99
March 12, 2023
Reading Time: 3 mins read
0
USDC stablecoin breaks dollar peg following Silicon Valley Bank collapse
Share on FacebookShare on Twitter

The abrupt collapse of Silicon Valley Financial institution has affected the worth of the world’s fifth-largest cryptocurrency, rising fears of a attainable ripple impact amongst Web3 corporations. On Saturday morning, USD Coin fell to a file low of $0.87 after Circle, the corporate that manages the stablecoin, that $3.3 billion of the roughly $10 billion money reserves backing USDC was held by SVB.

As , the drop is unprecedented. As a stablecoin, the worth of USDC is meant to stay steady due to its peg to the US greenback. In accordance with , USDC’s earlier all-time low was about $0.97 in 2018. Extra not too long ago, the forex fell to $0.99 following the . As of the writing of this text, USDC is valued at roughly $0.95 cents.

beforehand folks have been arguing that USDC had solely misplaced its peg on the much less deep exchanges (kraken, gemini)

down nearly in all places now. going to be a tough weekend, i feel. pic.twitter.com/4BCW6Lael9

— Molly White @ SXSW (@molly0xFFF) March 11, 2023

 creator Molly White suggests the impact from a sustained USDC drop could be A handful of different stablecoins, together with FRAX and DAI, use USDC as collateral. On Friday, Circle it will “proceed to function usually” whereas it waits for extra data on what is going to occur to SVB’s purchasers. “As of Thursday, we had initiated transfers of those funds to different banking companions. Although these transfers had not but been settled as of shut of enterprise Friday, we stay assured within the FDIC’s administration of the SVB state of affairs and stand able to obtain these funds,” Circle stated on Saturday, including $5.4 billion of its money belongings are held by BNY Mellon, “one of many largest and most steady monetary establishments on the planet.”

RELATED STORIES

Why New York and other cities still aren’t prepared for floods

Why New York and other cities still aren’t prepared for floods

September 30, 2023
Hasbro Introduces Nerfball: The Official Nerf Sport

Hasbro Introduces Nerfball: The Official Nerf Sport

September 29, 2023


{Source link}

Related Posts

Why New York and other cities still aren’t prepared for floods
Technology & Gadget

Why New York and other cities still aren’t prepared for floods

September 30, 2023

New York Metropolis got here to a grinding halt Friday as floods shut down roads and subways and inundated faculties...

Hasbro Introduces Nerfball: The Official Nerf Sport
Technology & Gadget

Hasbro Introduces Nerfball: The Official Nerf Sport

September 29, 2023

Hasbro is taking its Nerf model to a brand new stage by introducing what it calls Nerf’s “first-ever official sport”...

Scientists confirm that the first black hole ever imaged is actually spinning
Technology & Gadget

Scientists confirm that the first black hole ever imaged is actually spinning

September 28, 2023

The primary black gap humanity has ever imaged has additionally offered us with what researchers are calling "unequivocal proof" that...

Jony Ive is reportedly creating an AI gadget with OpenAI’s CEO
Technology & Gadget

Jony Ive is reportedly creating an AI gadget with OpenAI’s CEO

September 27, 2023

Apple’s former chief design officer, Jony Ive, and OpenAI CEO Sam Altman are allegedly exploring alternatives to collaborate on constructing...

  • Trending
  • Comments
  • Latest
Why you need to know about Japanese Encephalitis

Why you need to know about Japanese Encephalitis

October 15, 2022
The Top 15 Best Equity Crowdfunding Sites Of 2022

The Top 15 Best Equity Crowdfunding Sites Of 2022

October 18, 2022
Feet on a Digital Bathroom Scale with Red Toenail Polish. The Scale Displays OMG Message. White scale with a blue screen. Hormones and Weight Gain

The Truth About Hormones and Weight Gain

October 16, 2022
How to Choose and Use the Most Effective Pre-Workout Supplement?

How to Choose and Use the Most Effective Pre-Workout Supplement?

October 9, 2022
Why New York and other cities still aren’t prepared for floods

Why New York and other cities still aren’t prepared for floods

0
Igor Bonifacic

All Apple AirPods and Mac accessories could feature USB-C by 2024

0
Logitech MX Master 3S and MX Keys Combo for Business Gen 2 Review

Logitech MX Grasp 3S and MX Keys Combo for Enterprise Gen 2 Assessment

0
Earn Money With Inbox Dollars

Inbox {Dollars}: Receives a commission to learn emails, take surveys, search the online, and extra!

0
Why New York and other cities still aren’t prepared for floods

Why New York and other cities still aren’t prepared for floods

September 30, 2023
12 Best Places to Live in South Dakota

12 Best Places to Live in South Dakota

September 30, 2023
Regan Grimes Kicks Off 2023 Mr. Olympia Prep With Grueling Back and Biceps Workout

Regan Grimes Kicks Off 2023 Mr. Olympia Prep With Grueling Back and Biceps Workout

September 30, 2023
Why It's So Hard To Stay Retired Once You Retire Early

Why It’s So Hard To Stay Retired Once You Retire Early

September 29, 2023

Categories

  • Blogging (122)
  • Fashion Design & Lifestyle (193)
  • Finance (198)
  • Health & Fitness (261)
  • Make Money Online (358)
  • Personal development (233)
  • Real estate & Investment (221)
  • Relationships (246)
  • Technology & Gadget (360)
  • Travel & Food (251)

Recent Posts

  • Why New York and other cities still aren’t prepared for floods
  • 12 Best Places to Live in South Dakota
  • Regan Grimes Kicks Off 2023 Mr. Olympia Prep With Grueling Back and Biceps Workout
  • Why It’s So Hard To Stay Retired Once You Retire Early

Categories

  • Blogging
  • Fashion Design & Lifestyle
  • Finance
  • Health & Fitness
  • Make Money Online
  • Personal development
  • Real estate & Investment
  • Relationships
  • Technology & Gadget
  • Travel & Food

Tags

affairs anxiety asia astrology astrology monthly authenticity brain budget canada dating emotional health emotional safety empowerment energy family of origin family of origin work food gear happiness healthy aging japan language mbgsupplements mindfulness north america review reviews road trip roadtrip running skin care sleep solar generator spanish stress tech things to do tips to do translation travel travel blogs travel tips usa worry

Follow Us

Facebook Twitter Instagram

© 2022 AWOMANSPAGE - All rights reserved.

No Result
View All Result
  • Home
  • Finance
  • Tech
    • Technology & Gadget
    • Blogging
    • Make Money Online
  • Relationships
  • Living
    • Health & Fitness
    • Personal development
    • Travel & Food
    • Fashion Design & Lifestyle
  • Real estate & Investment