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.

Did circle hold a part of Silicon Valley Bank's cash reserves?

Circle’s USDC, the second-largest stablecoin, with $43 billion market capitalization, held an undisclosed part of its $9.8 billion cash reserves at failed Silicon Valley Bank. U.S.-based stablecoin issuer Circle held a part of its USDC stablecoin’s cash reserves at Silicon Valley Bank as of Jan. 17, according to the firm's latest attestation.

What happened to USDC after Silicon Valley Bank collapse?

After Friday’s stunning collapse of Silicon Valley Bank, questions swirled around the exposure of one of crypto’s top firms, Circle, the issuer of the second-largest stablecoin, USDC. In its March attestation, Circle had revealed that part of its $9.88 billion in cash reserves was held at SVB, although it did not disclose the total amount.