$USDC USDC or USD Coin is a cryptocurrency primarily tied to the US dollar. It was founded by the company Circle on May 15, 2018.
Its purpose is to be used as an Ethereum ERC-20 token. According to Wikipedia, on March 29, 2021, Visa announced that it would allow the use of USDC for transactions on its payment network.
In July 2022, Circle indicated that there were 55 billion USDC in circulation.
On March 11, 2023, USDC lost its peg to the dollar after Circle confirmed that 3.3 billion dollars, or approximately 8% of its reserves, were at risk due to the collapse of Silicon Valley Bank the day before. After dropping to $0.87, USDC rose back to $1 after Circle announced that the $3.3 billion held by SVB would be available.
Its purpose is to be used as an Ethereum ERC-20 token. According to Wikipedia, on March 29, 2021, Visa announced that it would allow the use of USDC for transactions on its payment network.
In July 2022, Circle indicated that there were 55 billion USDC in circulation.
On March 11, 2023, USDC lost its peg to the dollar after Circle confirmed that 3.3 billion dollars, or approximately 8% of its reserves, were at risk due to the collapse of Silicon Valley Bank the day before. After dropping to $0.87, USDC rose back to $1 after Circle announced that the $3.3 billion held by SVB would be available.