The financial system is teetering on the edge


After it was announced that Silicon Valley Bank (SVB) had collapsed, the cryptocurrency world’s second-largest “stablecoin,” USDC, plunged in value before later rebounding closer towards its intended $1 peg. Circle Internet Financial Ltd., which runs USDC and banked at SVB, has promised to cover any shortfall in the $3.3 billion worth of reserves it held […]