Does circle & USDC still operate?

A Circle spokesperson said Friday that “Silicon Valley Bank is one of six banking partners Circle uses for managing the approximately 25% portion of USDC reserves held in cash. While we await clarity on how the FDIC receivership of SVB will impact its depositors, Circle & USDC continue to operate normally.”

Will USDC regain $1 peg after SVB deposit is available?

USDC nearly regains $1 peg after Circle says SVB deposit is available Circle, which issues USD Coin (USDC), said that the $3.3 billion it held with the now-collapsed SVB will be "fully available" on Monday when U.S. banks open.

How can I use USDC?

You can also use USDC in a variety of decentralized finance protocols. You can, for instance, deposit it in BlockFi, a loans company that offers you interest for depositing USDC (among other coins). USDC is usually held as a stable asset by crypto traders, just like other stablecoins such as Tether and DAI.

Is USDC a stablecoin?

At the time of publication, USDC held steady at its $1 value. The stablecoin is pegged to the U.S. dollar on a 1:1 basis and is backed through reserves consisting of a mix of cash and short-term U.S. Treasury bonds. Of that circulating supply about $11.4 billion cash is held at reserve banks as of March 2, Circle’s states.