Crypto markets are reeling from a turbulent weekend, after one of the market’s leading stablecoins, Circle’s USD coin (USDC), lost its 1-to-1 peg to the US dollar. USDC restored its peg earlier this week and continues to hover close to $1, but the crisis might have broader implications for crypto and decentralised finance. USDC is usually considered the safest stablecoin. So what does this mean? What does this signal for crypto markets? On Money in the Market, Hongbin Jeong speaks to Evans Huangfu, Partner, Arcane Group to find out more.

 

Highlights: 

1:13 - What's led to the fall of SVB?
2:49 - What kind of exposure does this have on crypto players?
6:25 - How have crypto markets reacted to this collapse? 
7:46 - Stablecoins were affected - what does this say about the severity of this collapse?
8:49 - Do you see this impact on crypto markets long lasting? 

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