Circle regained access to its Silicon Valley Bank deposit

Circle has regained access to its deposits at the bankrupt Silicon Valley Bank. This was announced by the CEO of the company Jeremy Aller in an interview with CNBC.

An executive shared details of what went on behind the scenes at Circle after the collapse of SVB. It turns out that the USDC issuer invested $3.3 billion in the bank so that the institution would support their stablecoin.

Silicon Valley Bank Bankruptcy

After Silicon Valley Bankruptcy The guide has compiled several scenarios on how to get out of possible risks. One of the plans called for the company to act even if Silicon Valley refused to give access to the company's deposit.

He specifically emphasized that the company was able to withdraw its deposit on Monday, immediately after the closure of Silicon Valley. This is a strong argument that Circle has a strong position.