Quote from: tvplus006 on March 12, 2023, 10:47:33 PM

Quote from: jossiel on March 12, 2023, 09:34:44 PM

...there's some positive news that's been released about SVB, Silvergate, etc. and that might be the reason for the market's up today.

After the Federal Reserve Board announced that "make available additional funding to eligible depository institutions to help assure banks have the ability to meet the needs of all their depositors" - https://www.federalreserve.gov/newsevents/pressreleases/monetary20230312a.htm, the cryptocurrency market began to move up. So we can assume that the value of USDC will be restored already on Monday.

Yeah, it's again back to $0.99 so that's like the usual price of a stablecoin ranging with the difference of an actual $1 to $0.99 and we can say that they're back and normal.

Quote from: wxa7115 on Today at 06:39:18 AM

So if the owners of stable coins are relying on financial institutions to safeguard their funds then sooner or later this will happen again, and this will erode the confidence investors have on stable coins even further.

Well, stablecoin owners have nowhere and no other thing to rely on but the providers of those issued coins. And that's why they've got no choice and whatever happens to the issuer or company that backs it, they can do nothing.