Tag: Circle Internet Financial

USDC Depegging: Circle Assures Normal Operations Read more

Circle Internet Financial's USDC stablecoin, ranking as the second-largest stablecoin with a market cap of $42 billion, underwent a depegging from the U.S. dollar due to contagion stemming from the collapse of Silicon Valley Bank. This development led to a drop in the USDC/USDT trading pair, which plummeted to as low as 94 cents on Kraken, marking its lowest price point since April 2021. However, it managed to recover to approximately 98 cents as of 02:54 UTC on Saturday.USDC is...