Hacker News new | ask | show | jobs
by janejeon 1052 days ago
USDT and USDC would be the two biggest examples by market cap, though USDT has been mired in... "controversies", and USDC almost got hit by the US Banking Panic this year,
1 comments

USDC definitely got hit as it depegged from the USDC for few days and traded for $0.87 at some point, it didn't "explode" (and it restored its peg) only because the US government promised to bail out customers of the Silicon Valley Bank fully and not just upto $250,000 as it would be the case if in an usual FDIC coverage situation. Circle, the company behind this stablecoin had about $3.3 billions in SVB.
I don't think that's the case for USDC from Coinbase.
What do you mean? USDC is issued only by Circle. It does have close ties with Coinbase.