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USDC Silicon Valley Bank Depeg

Depeg
Circle • USDC
Date
March 10, 2023
Est. Loss
$0
Chain
eth
Direct vault exploit
No

Taxonomy (scoring alignment)

Category: stablecoinMechanism: liquidity freezeMaps to: depeg, asset, stablecoin_class_risk
Affected assets: USDC
Circle disclosed $3.3B exposure to Silicon Valley Bank. USDC depegged to ~$0.88. Massive vault impairment risk across protocol using USDC as collateral or underlying.
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