Stablecoin USDC nearly regains $1 peg after Circle says $3.3 billion held with SVB will be available
Publishing timestamp: 2023-03-13 07:11:44
Summary
Circle, the issuer of stablecoin USD Coin (USDC), announced that the $3.3 billion it held with Silicon Valley Bank (SVB) will be "fully available" on Monday, after regulators closed SVB and took control of its deposits. USDC lost its $1 peg after SVB's collapse, but Circle's reassurance led to the cryptocurrency hovering just under the $1 mark. The broader cryptocurrency market rallied on Monday, with Bitcoin jumping as much as 10%.
Sentiment: NEUTRAL
Tickers: SBNY, USDT.CM=, BTC.CM=, SIVB, USDC.CM=, .DXY,
Keywords: markets, bitcoin/usd coin metrics, cryptocurrency, dxy us dollar currency index, svb financial group, usd coin/usd, economy, business news, banks, technology, tether/usd coin metrics, united states,