Loading ...Stablecoin USDC breaks dollar peg after firm reveals it has $3.3 billion in SVB exposure
- The U.S. cryptocurrency firm Circle’s USD Coin lost its dollar peg and fell to a record low Saturday morning.
- The company revealed it has nearly 8% of its $40 billion in reserves tied up at the collapsed lender Silicon Valley Bank.
- USDC is designed to trade at $1, but it fell below 87 cents on Saturday, according to data from CoinDesk.