Project

Circle

US-based fintech that issues USDC, the second-largest dollar-pegged stablecoin. Held a portion of USDC reserves at Silicon Valley Bank when it failed in March 2023.

Records: 1
Cumulative losses: $3.30B

Records featuring Circle

victim·March 10, 2023resolved
USDC Depeg — March 2023
When Silicon Valley Bank was seized by US regulators on 10 March, Circle disclosed $3.3 billion of USDC reserves were stuck at the bank — and USDC traded as low as $0.87 over the weekend before federal backstop assurances restored the peg.
$3.30B affected

Records featuring Circle

USDC Depeg — March 2023