This might belong in the Bitcoins Donkdown thread, but I think it's more appropriate here.

$3.3 billion of USDC's reserves were at Silicon Valley Bank: https://www.coindesk.com/business/20...n-valley-bank/


It immediately fell to 0.993, but has since popped back to 0.996.

If you have USDC, time to sell. BTW, other stablecoins such as BUSD, DAI, and TUSD are also down. Tether is actually up for the moment, so I'm guessing people are moving to there.

Whether this event is going to kill some stablecoins remains to be seen. USDC is the second largest one. I read reports that it was depegged from USD, but those have been deleted, soooo...