Over the past week, investors have become understandably jittery about news that billions of dollars in support (USDC) – the second largest stablecoin – was booked into troubled Silicon Valley Bank (SVB). The market reacted violently, causing USDC to jump lose its currency peg to the dollar. But while the concern was understandable, it became clear that the USDC Creator Circle would regain full access to its funds. The crypto community can breathe easy.
Hundreds of sensors are buried at the bottom of the ocean off the coast of Japan. Trained to spot the slightest hints of an earthquake, they send data at the speed of light to laboratories on the main island. Should the fault lines that bifurcate ocean trenches collide violently, seismic activity would be detected, giving islanders precious minutes to retreat to higher ground before a tsunami strikes.
Rumors about USDC’s demise have been exaggerated
Gracie Chen She is the Managing Director of the cryptocurrency exchange Bitget where she covers market expansion, business strategy and corporate development. Prior to joining Bitget, she held executive positions at XRSPACE, a virtual reality technology company, and was an early investor in BitKeep, the leading decentralized wallet in Asia. In 2015, Gracy was named a Global Shaper by the World Economic Forum. She graduated from the National University of Singapore, and holds an MBA from the Massachusetts Institute of Technology.