Blockchain payment tech company and USDC issuer, Circle, has confirmed that wires initiated on Thursday to remove balances from Silicon Valley Bank (SVB) have not yet been processed, leaving $3.3 Billion of its $40 Billion USDC reserves tied up at the now-shuttered SVB. This disclosure follows concerns over USDC late last week, when Circle revealed that $8.6 billion, or roughly 20% of its reserves, was held in several financial institutions, including bankrupted Silvergate and SVB. Circle Calls for Continuity of Silicon Valley Bank (SVB) Circle has called for the continuity of SVB, stating that it is important for the US
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