Hat Circle von Coinbase eine Kreditlinie in Höhe von 3 Milliarden US-Dollar erhalten, um USDC wieder auf 1 US-Dollar zu bringen?

Crypto News: Während immer mehr Informationen über das tragische Wochenende der USDC-Depegierung auftauchen, ist die neueste Entwicklung im Gefolge des Zusammenbruchs der Silicon Valley Bank die Einführung einer Kreditlinie mit einem Wert im Multi-Milliarden-Dollar-Bereich. Es wurde berichtet, dass Coinbase ein massives Angebot von The post Hat Circle Get A $3 Billion Credit Line from Coinbase To Get USDC Back to $1?.

Timeline of Usd-coin

Before the Silicon Valley Bank (SVB) crisis, the stablecoin USD Coin had captured about 70% of the on-chain transaction volume on Ethereum, indicating its popularity among the DeFi and NFT community.

The stablecoin market has seen significant changes over the past few weeks — including the removal of over 7 billion USDC stablecoins from circulation following the depegging event on March 11.

"Financial institutions may reconsider adopting stablecoins to settle agreements involving tokenized securities out of concern over the coins' potential volatility,” Moody's said.

USDC stablecoin investors panicked when Circle announced its exposure to the shuttered banks, and Circle's latest report on USDC Reserves and attestation from Deloitte, the global audit company, confirms the connection.  However, in a new development, Circle reports almost clearing all minting and redemption requests for USDC.

Cryptocurrency investors have withdrawn a net $3 billion in Circle's USDC coin this week. Circle said on its blog Wednesday (March 15) evening that it had “cleared substantially all of the backlog of minting and redemption requests” for its coin, the second most popular cryptocurrency.

Circle says it has fulfilled “virtually all” of the redemption and minting requests for its USD Coin $1.00 stablecoin. Circle announced in a March 15 operating update that it has redeemed $3.8 billion USDC and minted $0.

Circle, the issuer of dollar-based stablecoin USDC, was hammered when it was announced that the Fintech held $3.3 billion at Silicon Valley Bank (NASDAQ:SIVB). For a long minute, things looked a bit dire.

Following the closure of Silicon Valley Bank (SVB), the value of the world's fifth-largest cryptocurrency, USD Coin (USDC), plummeted to an all-time low on Saturday. The U.S.-based company behind the coin, Circle, revealed that $3.3 billion of the $40 billion in USDC reserves backing it was held at the financial institution.

At the height of USD Coin (USDC) panic — when news broke that much of its backing was stuck in recently-collapsed Silicon Valley Bank — Tron (TRX) founder Justin Sun traded millions of USDC.

Circle's USDC stablecoin briefly de-pegged after news that $3.3 billion of its cash reserves were stuck with collapsed bank Silicon Valley Bank. USDC's dollar peg has since recovered, but mass redemptions have led to a drop in the stablecoin's market cap by nearly 10% since March 11.