Some news from Circle (reposted for record):
Following the confirmation at the end of today that the wires initiated on Thursday to remove balances were not yet processed, $3.3 billion of the ~$40 billion of USDC reserves remain at SVB.
Like other customers and depositors who relied on SVB for banking services, Circle joins calls for continuity of this important bank in the U.S. economy and will follow guidance provided by state and Federal regulators.
Reminder: To make up for the negative market sentiment, USDC holders are invited to participate in USDC gift distribution.
Claiming is live for the next 12 hours!
