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.

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