$Coinbase Global, Inc.(COIN)$
One of the most important underpinnings of the cryptocurrency market appears to be on shaky ground, as stablecoin issuer Circle Internet Financial disclosed that a significant portion of its reserves are locked up at the failed Silicon Valley Bank and the token struggled to maintain its dollar peg.
Late Friday evening, Circle, which issues the second-largest stablecoin USDC, said $3.3 billion of its token’s $40 billion in reserves were at the bank, which regulators shut down earlier in the day.
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Comments
Coinbase will be raise quickly and then his CRo dollars will also