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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.

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