Is CZ Right in Saying That “Banks Are a Risk to Fiat-Backed Stablecoins”? Probably Not
Over the past week, the peg of USDC to USD came under strain, after Circle revealed that it had significant deposits in the now-bankrupt Silicon Valley Bank (SVB). As news of this broke, USDC holders began to express doubt, and many started to sell their USDC tokens, causing the stablecoin to depeg by almost […]