USDC Shocks The California Department of Financial Protection | NFT
USDC Shocks
The California Department of Financial Protection and Innovation has closed Silicon Valley Bank, which held $3.3 billion cache of $40B of USDC stablecoin collateral.
The stable has lost its binding to USD. At the time of writing, its cost is ~$0.91. In turn, DAI is backed by 48% USDC, which led to a run to ~$0.92.
Circle burns $2.7 billion of support. Coinbase has stopped the USDC/USD exchange for the weekend. We are waiting for Monday
🔹️Plain and simple about NFT, why it is needed, who buys it and how to get into it. 🔹For questions contact: @finsignaladmin. 🔹️Channel: @informationNFT. 🔹️https://t.me/informationNFT...
