Subvsequently Regained
The coin subsequently regained its $1 peg after U.S. regulators closed SVB down, took control of its deposits and worked to restore customers’ access to their money.
The coin subsequently regained its $1 peg after U.S. regulators closed SVB down, took control of its deposits and worked to restore customers’ access to their money.
“Reflecting Coinbase’s belief in the fundamental importance of stablecoins to the broader crypto economy, Coinbase is taking an equity stake in Circle,” Coinbase said in a blogpost Monday.
The two companies also said they will close down the Centre Consortium, a private governance organization for USDC, as they now see “regulatory clarity” on stablecoins.