BRIEF- Circle Says USDC Liquidity Operations Will Resume As Normal When Banks Open On Monday- Blog
USDC #USDC
March 11 (Reuters) –
* CIRCLE SAYS $3.3BN OF USDC’S CASH RESERVES REMAIN WITH SVB.; AS OF THURSDAY, CO HAD INITIATED TRANSFERS OF THESE FUNDS TO OTHER BANKING PARTNERS- BLOG
* CIRCLE SAYS USDC HAS 0 EXPOSURE TO SILVERGATE; CO TRANSFERRED OUT LIMITED RESERVES TO SUPPORT TRANSACTION SETTLEMENT PRIOR TO BANK CLOSURE- TWEET
* CIRCLE SAYS IN CASE SVB MAY NOT RETURN 100% CIRCLE WILL COVER ANY SHORTFALL USING CORPORATE RESOURCES, INVOLVING EXTERNAL CAPITAL IF NECESSARY- TWEET
* CIRCLE SAYS USDC LIQUIDITY OPERATIONS WILL RESUME AS NORMAL WHEN BANKS OPEN ON MONDAY MORNING IN THE UNITED STATES- BLOG Source text [http://bit.ly/3FgkbnZ] Further company coverage: