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Coinbase Pauses USD to USDC Conversions Over Weekend

Coinbase USD USDC

Coinbase, the leading US cryptocurrency exchange, has temporarily suspended support for conversions between USD and stablecoin USDC. The exchange announced the pause in a tweet, stating that it would last throughout the weekend while banks are closed. According to Coinbase, USD transfers from banks clearing during normal banking hours are required to facilitate conversions during periods of heightened activity. The exchange plans to resume the feature on Monday. Exposure of USDC to Silicon Valley Bank Circle, which also manages USDC, announced that its stablecoin has exposure to Silicon Valley Bank (SVB), which recently became the largest bank to fail since

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