USDC Conversion Suspensions: Traditional Banking Contagion Spreads
“USDC Conversion Suspensions: Coinbase and Binance React as Dollar Peg Stabilizes, While BlockFi and Avalanche Reveal SVB Ties” SVB Collapse and Stablecoin Depegging: What We Know So Far Circle, a cryptocurrency firm, reports $3.3 billion stuck in SVB as DAI/USDC depeg continues after Silicon Valley bank collapse. Binance suspended USDC conversions due to volatile market…