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Rapid Insights provide a deeper analysis of the current crypto landscape in a timely fashion.
This issue of Rapid Insights covers the de-pegging of Circle USD (USDC), the centralized stablecoin of Circle.
USDC has been one of the largest stablecoins by market capitalization, second only to Tether USD (USDT), making it an integral aspect of the crypto ecosystem
Following the de-pegging of Terra USD (UST) in 2021, there are concerns that USDC could potentially collapse in a similar fashion
The on-chain evidence, coupled with Circle’s transparency, suggests otherwise, that Circle is likely to honor a substantial percentage of its issued USDC
Footnotes
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