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by drcode 1197 days ago
Circle used SVB, not Coinbase

(I'm no expert though, correct me if I'm wrong)

Edit: Parent comment is now correct
2 comments
kersplody 1197 days ago
Edited parent.

USD Coin is managed by a consortium called Centre, which was founded by Circle and includes members from the cryptocurrency exchange Coinbase. Circle used SVB.

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xbruteforce 1197 days ago
There is USDC liquidity on Coinbase. Which may not be redeemable for USD over the weekend because of this news.

That's why Coinbase are stopping withdrawals.

link