On March 10, Blockchain fee tech firm and (USDC) issuers Circle confirmed that wires initiated on Thursday to take away balances haven’t but been processed, leaving $3.3 billion of its $40 billion USDC reserves at Silicon Valley Financial institution (SVB).
Issues have been rising over USDC late this week as a result of Circle disclosing in its newest audit that as of Jan. 31, $8.6 billion, or roughly 20% of its reserves, was held up in a number of monetary establishments, together with the lately bankrupted Silvergate, and shuttered SVB.
