USDC Issuer Circle Reveals It Couldn’t Withdraw $3.3 Billion From Silicon Valley Bank

Stablecoin issuer Circle disclosed late Friday that around $3.3 billion of its $40 billion USDC reserves remained at Silicon Valley Bank. This comes after the high-tech lender’s share price dropped precipitously in response to a run on deposits by nervous consumers. Silicon Valley Bank crumbled on Friday morning, sending shockwaves through the cryptocurrency and global