Crypto whales endure big losses attributable to USDC depeg, SVB collapse

In response to the extraordinary depegging occasion of the (USDC) stablecoin attributable to the collapse of its counterparty Silicon Valley Financial institution (SVB), crypto whales have reported extreme losses and seem to have launched into a collection of capital flights to guard property. Du Jun, the co-founder of cryptocurrency alternate Huobi International, posted:

The identical day, blockchain character and Tron founder Justin Solar reportedly withdrew 82 million USDC from the decentralized finance (DeFi) protocol, Aave v2, over a collection of transactions and swapped from Dai (DAI). On the time of publication, 82 million USDC is value $75.26 million.

Proceed Studying on Coin Telegraph