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They noted that the decline in the value of the USD Coin “reminds us of the worst moments of the 2008 financial crisis.”
USDC is one of the major digital currencies in the cryptocurrency markets. It is supposed to hold a fixed value of $1. It is fully backed by reserves of cash and short-term Treasury bonds.
The closure of SVB, short for Silicon Valley Bank, not only marks the largest bankruptcy since the closing of Washington Mutual Savings Bank in 2008, but also the second-largest retail bank failure in the United States.
Electronic science – novosti