Doulitsa Press Release Submission

News that change your days

Circle Commits to Covering USDC Shortfalls – Ensures Redemption at 1:1 with USD

USDC issuer Circle has pledged to cover any shortfall in the stablecoin’s reserves if it does not receive the entirety of the $3.3 billion held at now-collapsed Silicon Valley Bank.
In a Saturday blog post, Circle said that the company is prepared to cover any shortfall in the USDC reserves that materialize from their exposure to SVB using corporate resources…
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