USDC Depeg: What Happened? Safe or Can it Happen Again?
Hey Guys,
It's crazy to think that it's been almost two weeks since USDC lost its peg. Things in crypto have been moving fast, especially with all the regulatory scrutiny. In case that didn't give it away, there's more about USDC's depegging that meets the eye.
After Silvergate's SEN was shut down, Circle and many other crypto companies switched to using Signature's Signet. A few days after Silvergate officially went bankrupt, so did SVB. Circle got its assets back, but simultaneously lost access to Signet.
Fortunately, Circle was able to secure a new minting and burning partner, but there have been lots of questions about Cross River Bank, including from the mainstream media. Circle's apparent protection from the SEC could also cause issues with the Fed.
This is a video you don't want to miss!
~~~~~
⛓️ 🔗 Useful Links 🔗 ⛓️
► MakerDAO Adds USDC As Collateral: https://www.coindesk.com/tech/2020/03...
► Circle Reveals Exposure In SVB: https://cointelegraph.com/news/circle...
► Billions In USDC Burns: https://www.coindesk.com/markets/2023...
► Circle Chooses Cross River Bank: https://cointelegraph.com/news/circle...
► Circle Moves To France: https://www.bloomberg.com/news/articl...
~~~~~
📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.
