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Circle Confirms $3.3B of USDC's Cash Reserves Stuck at Failed Silicon Valley Bank

Silicon Valley Bank, one of the reserve banking partners for Circle's USDC stablecoin, was shut down by regulators on Friday.

Updated May 9, 2023, 4:10 a.m. Published Mar 11, 2023, 3:52 a.m.
Circle CEO Jeremy Allaire (Danny Nelson/CoinDesk)
Circle CEO Jeremy Allaire (Danny Nelson/CoinDesk)