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USDC Issuer Circle Says It ‘Awaits Clarity’ From FDIC on Silicon Valley Bank Collapse

USDC issuer Circle Internet Financial said late Friday it "awaits clarity" from federal banking regulators on the status of its deposits at Silicon Valley Bank, one of the six financial institutions it said are responsible for managing one quarter of the assets backing its $43 billion stablecoin.

In its first statement following a day of chaos in crypto's stablecoin sector, Circle declined to specify exactly how much cash is stuck in Silicon Valley Bank. But it said the company and its stablecoin "continue to operate normally."

Circle Silicon Valley Bank
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