USDC Stablecoin issuer Circle said that if Silicon Valley Bank fails to recover 100 percent of the funds or it takes a long time, the firm will support USDC and cover any shortfall using corporate resources, raising outside capital if necessary.
The firm also stated that the majority of its funds are held in U.S. Treasury securities (77%) at BNY Mellon.
Holpop News
Holpop News
If Circle fails to recover 100% of funds from Silicon Valley Bank, the company will support USDC with corporate funds
posted on March 12, 2023 by holpop in Blockchain
