Circle CEO Jeremy Allaire confirmed that the firm has accessed the funds stuck at Silicon Valley Bank Allaire believes the $3.3 billion stuck in SVB will be fully recovered Jeremy Allaire, the co-founder and CEO of Circle, recently appeared in an interview with Bloomberg. The executive addressed the recent turmoil in the banking industry and […]
Circle CEO Jeremy Allaire confirmed that the firm has accessed the funds stuck at Silicon Valley BankJeremy Allaire, the co-founder and CEO of Circle, recently appeared in an interview with
Speaking on the exposure to Silicon Valley Bank, Allaire revealed that Circle was able to access its funds deposited in the shuttered bank, as of 13 March 2023. The USDC issuer has a whopping $3.3 billion deposited at SVB. Those funds are part of the $40 billion reserve that backs its stablecoin.
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