![usdc-stablecoin-depegs-from-1-circle-says-operations-are-normal](https://cryptotoptrends.com/wp-content/uploads/2023/03/usdc-stablecoin-depegs-from-1-circle-says-operations-are-normal-678x381.png)
An undisclosed portion of USDC’s cash reserves are parked at the now-failed bank, leading to concern that money backing the stablecoin is now stuck. Stablecoins like USDC are a key part of the crypto industry’s foundation, and when they stray far from $1 (or whatever fiat asset they’re pegged to) that suggests concern about their financial footing.
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