Silicon Valley Bank collapse causes crypto contagion concerns
March 10, 2023
https://web3isgoinggreat.com/?id=silicon-valley-bank-collapse-causes-crypto-contagion-concerns
Some in crypto have been tearing their hair out that Circle has not yet released a statement about the portion of cash reserves kept at SVB.
Circle finally just released the most non-statement statement, which needless to say has not reassured folks: https://nitter.net/circle/status/1634341007306248199
@Varpie@mastodon.online@web3isgreat Hold on, the stablecoin is pegged thanks to the assets being hold by a single company? That should have been the first red flag, so much for decentralization.
