Crypto firm Circle reveals $3.3 billion exposure to Silicon Valley Bank
Startup-focused SVB collapsed on Friday in the largest bank failure since the 2008 financial crisis
U.S. cryptocurrency firm Circle has $3.3 billion of its $40 billion of USD Coin reserves at the collapsed lender Silicon Valley Bank, the company said in a tweet on Friday.
The stablecoin company’s
announcement comes after startup-focused SVB collapsed on Friday in the
largest bank failure since the 2008 financial crisis, roiling global
markets and stranding billions of dollars belonging to companies and
investors. ---More...
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