The distributor of the world’s second largest stablecoin, USDC, Circle, stated in their reserve report on March 2nd that 26.4% of their assets were held in banks.
One of the banks where the assets were held was Silicon Valley Bank, which was closed today. It is currently unknown how much of the USDC reserves were held in SVB.
$USDC, 2 Mart tarihli rezerv raporunda varlıklarının %26,4'ünün bankalarda saklandığını söyledi.
Varlıkların saklandığı bankalar arasında bugün kapatılan Silicon Valley Bank'ta yer alıyor. USDC rezervlerinin ne kadarının SVB'de tutulduğu henüz bilinmiyor. pic.twitter.com/cojlhJdCfQ
— Bitcoin Sistemi (@bitcoinsistemi) March 10, 2023
The distributor of the world’s second-largest stablecoin, USDC, Circle, had stated in its reserve report on March 2 that 26.4% of its assets were held in banks.
Among the banks where the assets are held is Silicon Valley Bank, which closed today. It is currently unknown how much of the USDC reserves were held in SVB.
Crypto exchange companies KuCoin and Bitfinex have announced that they will list this altcoin.
According to Circle’s official website, “The cash is held in regulated financial institutions in the US: Bank of New York Mellon, Citizens Trust Bank, Customers Bank, a division of Flagstar Bank N.A. called New York Community Bank, Signature Bank, Silicon Valley Bank, and Silvergate Bank.”
As of the latest audit, the company had $11.4 billion in reserves held in cash.
*Not investment advice.
