Stablecoin USDC just about regains $1 peg just after Circle says $3.3 billion held with SVB will be offered

Stablecoin USDC just about regains peg just after Circle says .3 billion held with SVB will be offered

Critical Factors

Circle, which challenges USD Coin (USDC), explained that the $3.3 billion it held with the now-collapsed Silicon Valley Bank will be “totally obtainable” on Monday when U.S. banking companies open.
Soon after SVB’s collapse, USDC missing its $1 peg, slipping as low as 86 cents on Saturday.
The broader cryptocurrency industry rallied Monday as regulators stepped in.
Bitcoin jumped as a great deal as 10%, rallying over $22,000.

Supply

Finance

Insiders at UnitedHealth are scooping up tarnished shares

May 16, 2025

Key Points UnitedHealth Group saw some of its insiders step in and purchase declining shares this week. Kristen Gil, a director at the firm, bought 3,700 shares worth roughly $1 million on Thursday. Shares of UnitedHealth plunged nearly 11% to $274.35 on Thursday following a report in The Wall Street Journal that the Department of Justice […]

Finance

Federal Reserve will reduce staff by 10% in coming years, Powell memo says

May 16, 2025

U.S. Federal Reserve Chair Jerome Powell departs after holding a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, D.C., U.S., May 7, 2025. Kevin Lamarque | Reuters The Federal Reserve will look to reduce its headcount by 10% over the next couple of years, including […]

Finance

Stocks making the biggest moves midday: Applied Materials, Novo Nordisk, Cava, Vistra and more

May 16, 2025

Check out the companies making headlines in midday trading. Applied Materials — Shares of the semiconductor manufacturer dropped 6% after Applied Materials posted disappointing fiscal second-quarter revenue. The company’s revenue of $7.10 billion was below the LSEG consensus of $7.13 billion. Semiconductor revenue of $5.26 billion also disappointed the $5.31 billion analysts were looking for. […]