Crypto shaken as SVB exposure Depegs $37 billion Stablecoin

The second-largest stablecoin fell from its intended $1 peg, trading as low as 81.5 cents as investors reacted to the exposure of issuer Circle Internet Financial Ltd. to the collapsed bank. USD Coin, or USDC, is an asset-backed stablecoin and a widely used plank of crypto markets.

from International-News-Economic Times https://ift.tt/KcNSWbt

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