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Crypto Wallets Withdraw $902M USDC From Centralized Exchanges in Past 24 Hours Amid SVB, Silvergate Shutdowns

$11.4 billion of USDC reserves are held in the form of cash at Reserve Banks, which include the two members of the Federal Reserve System.

By Sage D. Young

Updated May 9, 2023, 4:10 a.m. Published Mar 10, 2023, 7:50 p.m.

Silicon Valley Bank headquarters in Santa Clara, California (Justin Sullivan/Getty Images)