• Written by: Crypto Breaking News
• Sat, 11 Mar 2023
•   United Kingdom

USDC is the second-largest stablecoin, trailing only Tether’s USDT, and a backbone of the crypto ecosystem. The token’s value is backed by U.S. government bonds and cash-like assets, including a total $11.1 billion of cash deposits at various regulated banks, according to Circle’s website. Source: CoinDesk The post Circle’s USDC Endured $1B of Net Redemptions Since Silicon Valley Bank’s Shutdown appeared first on Crypto Breaking News.

Circle’s USDC Endured $1B of Net Redemptions Since Silicon Valley Bank’s Shutdown

USDC is the second-largest stablecoin, trailing only Tether’s USDT, and a backbone of the crypto ecosystem. The token’s value is backed by U.S. government bonds and cash-like assets, including a total $11.1 billion of cash deposits at various regulated banks, according to Circle’s website.

Source: CoinDesk

The post Circle’s USDC Endured $1B of Net Redemptions Since Silicon Valley Bank’s Shutdown appeared first on Crypto Breaking News.