100% of USDC Reserves Is Safe: Circle CEO
2022 saw the fall of major cryptocurrency firms. The trend has somewhat continued into 2023. After Silicon Valley bank [SVB] and Silvergate, Signature Bank was forced to shut down by New York financial regulators on Mar. 12. However, depositors have been notified that they would regain access to their funds as early as Monday, on Mar. 13. According to data, Circle , a prominent cryptocurrency firm entails a whopping $3.3 billion USDC reserve deposit in SVB. The industry has been hit with several incidents over the last couple of months. As the community tries to recover, another collapse follows suit. Similarly, the downfall of Signature Bank did cause havoc in the market. Now, Jeremy Allaire, Circle CEO mentioned on Twitter and affirmed that 100% of USDC reserves were “safe and secure.” JUST IN: Circle CEO says 100% of $ USDC reserves are safe and secure. — Watcher.Guru (@WatcherGuru) March 12, 2023 Further elaborating on the same, Allaire tweet...