Crypto firm Circle says exposure to Silicon Valley Bank at $3.3 bn

Cryptocurrency firm Circle said its USD Coin (USDC) reserves worth $3.3 billion remained at Silicon Valley Bank, which was closed by US regulators. Circle mentioned that SVB is one of six banking partners it uses to manage 25% of its USDC reserves held in cash. "Circle joins calls for continuity of this important bank in the US economy," it added.