SVB Collapse Rocks Crypto: Stablecoin USDC Loses Its Dollar Peg
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Summary:The fifth largest cryptocurrency by market value lost its dollar peg after its issuer announced that it had around 8.25% of its $40 billion reserves locked in failed Silicon Valley Bank.

The fifth largest cryptocurrency by market value lost its dollar peg after its issuer announced that it had around 8.25% of its $40 billion reserves locked in failed Silicon Valley Bank.

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