Crypto Platform Huobi Exchanged $100,000,000 USDC for DAI During Stablecoin Depegging Scare: On-Chain Data

Crypto exchange Huobi converted $100 million worth of USD Coin (USDC) to Dai (DAI) as uncertainty spread in the stablecoin market this weekend, on-chain data shows. According to blockchain tracking firm Lookonchain, Huobi made the large transaction early on Saturday morning.

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Circle Plans to Cover USDC Shortfall After SVB Shutdown - Blockchain News

Circle, the issuer of the stablecoin USD Coin (USDC), has announced that it will use corporate resources to cover the shortfall on its reserves after Silicon Valley Bank (SVB) was shut down by the California Department of Financial Protection and Innovation. USDC liquidity operations will resume as normal when banks open on Monday, enabling redemption at 1:1 with the US dollar.

USDC Holders Panic Sell Amid Solvency Concerns - Blockchain News

On March 10, concerns about the solvency of USD Coin (USDC) led several holders to panic sell their holdings and switch to other stablecoins. One user lost over 2 million USDC in a failed attempt to exchange them for Tether (USDT) using KyberSwap's decentralized exchange aggregator.

Binance Futures Offers USDC Perpetual Contracts with 30x Leverage For Trading - Coincu

Key Points: Binance, the world's largest cryptocurrency exchange by trading volume, has announced the launch of a new perpetual contract for USD Coin (USDC) with up to 30x leverage on its Binance Futures platform.

Circle Pledges To ‘Stand Behind' USDC And Cover Missing Liquidity In Failed Silicon Valley Bank - Zycrypto

Circle Internet Financial has promised to resume normal USDC liquidity operations from Monday, enabling the redemption of the troubled stablecoin at 1:1 with the United States dollar.

USDC Dominated Trading Volume on Decentralized Exchanges Amidst Depegging Incident - Bitcoin

On Saturday, several centralized crypto trading platforms and payment processors stopped USDC auto conversions. However, USDC experienced a significant trading volume on decentralized exchange (dex) platforms such as Uniswap, Curve, and Pancakeswap. Uniswap alone recorded $10.

USDC Hits All-Time Low As Investors Pull Out Funds From The Stablecoin - Bitcoinist

USDC has been hit with a bearish wave following news of the collapse of Silicon Valley Bank on March 11. The stablecoin issuer Circle had revealed that it had $3.3 billion in deposits with the defunct bank, contributing to uncertainty regarding USDC.

Circle Commits to Covering USDC Shortfalls – Ensures Redemption at 1:1 with USD - Cryptonews

USDC issuer Circle has pledged to cover any shortfall in the stablecoin's reserves if it does not receive the entirety of the $3.3 billion held at now-collapsed Silicon Valley Bank.

Circle: ‘This Is a Time of Heightened Uncertainty for the USDC Economy' - CryptoGlobe

Circle Internet Financial (“Circle”), the issuer of the dollar-backed stablecoin USD Coin (USDC), has provided important assurances that should help to calm holders of the coin and the crypto market in general.

USDC Backed To $0.99 As Traders Gain Profits Amid Silicon Valley Bank Concerns - Coincu

As USDC remains a popular digital dollar, investors may be wondering whether it will survive after the recent collapse of Silicon Valley Bank. If the USD Coin eventually survived, this would be a suitable opportunity to buy at the bottom when USD Coin falls.

USDC Price Returned To 0.96 USD As Circle Addressed Collateral Asset Shortage - Coincu

Circle's CEO Jeremy Allaire, the business behind stablecoin USDC, made the latest update concerning USDC's volatility yesterday and the direction of the approaching resolution on March 12.

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