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USDC Stablecoin Regains Dollar Peg After Silicon Valley Bank-Induced Chaos

The stablecoin fell below $1 in value on Friday after it emerged that some portion of issuer Circle’s funds were at the failed Silicon Valley Bank.

Updated May 9, 2023, 4:10 a.m. Published Mar 13, 2023, 2:09 p.m.
Circle CEO Jeremy Allaire (Danny Nelson/CoinDesk)
Circle CEO Jeremy Allaire (Danny Nelson/CoinDesk)