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TechFlow News, March 11 — Circle, the issuer of USDC, tweeted today that Silicon Valley Bank (SVB) is one of six banking partners Circle uses to manage approximately 25% of USDC's cash reserves. While we await FDIC's takeover of SVB and clarification on how it will impact depositors, Circle and USDC continue to operate normally.
USDC issuer Circle tweeted that Silicon Valley Bank was one of six banking partners Circle used to manage approximately 25% of USDC's cash reserves. While we await SVB's takeover by the FDIC and clarity on how this will impact depositors, Circle and USDC continue to operate normally.
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