USDC

Frax

USDD

The USDC instability caused a domino effect on other stablecoins, leading to the depegging of DAI, USDD, and FRAX from the U.S. dollar.This happened after Circle, the issuer of USDC, revealed that it could not withdraw $3.3 billion of its $40 billion reserves from Silicon Valley Bank (SVB), causing USDC to depeg from the dollar.A Circle spokesperson said late Friday that SVB was one of the six banks that the firm used “for managing the approximately 25% portion of USDC reserves held in cash.”Read the article about <a href="https://crypto.ro/en/news/usdc-depeg-triggers-domino-effect-on-other-stablecoins/" rel="noopener noreferrer nofollow">the stablecoins depeg</a>.

USDC depeg triggers domino effect on other stablecoins

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