Circle Internet Financial, the USDC issuer, said it was “awaiting clarity” from federal banking regulators about the status of deposits at Silicon Valley Bank, one of six financial institutions responsible for managing $1. Fourth of $43 Billion Stablecoin Backed Assets .
In its first statement after a day of turmoil in the crypto stablecoin sector, Circle declined to specify the amount pending in Silicon Valley banks, merely saying that the company and stablecoin “continue to operate as usual.”
The sudden collapse of Silicon Valley Bank, the second largest bank in US history. has shaken up startups And partially affected crypto firms such as USDC-linked Circle, as well as DeFi infrastructure such as Curve’s 3pool.
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