USDC got unhooked from the dollar because of the Silicon Valle | TRIAD - Trade
USDC got unhooked from the dollar because of the Silicon Valley Bank collapse
The issuer of USDC - Circle held $3.3 billion in collapsed Silicon Valley Bank collateral for its Stablecoin. These funds were at risk, which is why there is now a great demand in the market to sell USDC. As a result, the rate fell to $0.88, and the capitalization rapidly decreased by $5.4 billion.
The DAI Stablecoin similarly lost its peg as it held collateral in USDC.
Robinhood suspends trading and creating deposits in USDC.
Binance temporarily froze the conversion of USDC to BUSD.
FBI announced an emergency meeting on March 13 at 19:30 Moscow time, most likely due to a bank collapse. The meeting will be held according to expedited
