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Insolvency fears led many to turn to other stablecoins, sell USDC at a major discount

    Several USD Coin holders have fled to other stablecoins amid fears surrounding its solvency.

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    Silicon Valley Bank down, USDC depegged, FTX billed $34M in Jan.: Hodler’s Digest, March 5-11
    Silicon Valley Bank failure could trigger run on U.S. regional banks

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