By Mar. 11, USDC, a stablecoin, de-pegged, falling to as low as $0.89 during the Asian session, trackers reveal.
USDC de-pegs after Silicon Valley Bank folds
The de-pegging of the USDC, theoretically meant to track the value of the USD, regardless of market volatility, is why Jesse Powell, the co-founder and CEO of មឹកយក្ស, is wondering if the broader market is beginning to lose faith in United States-based products.
Source: https://crypto.news/usdc-de-pegs-kraken-ceo-wonders-if-the-market-is-losing-trust-in-us-products/