Do Kwon had the right idea, banks are at risk for fiat-backed stablecoins - CZ
Given Silicon Valley Bank's direct involvement in destabilizing USDC prices, CZ blamed the banks for increase the risks of stablecoins.
![Do Kwon had the right idea, the banks are risk for fiat-backed stablecoins - CZ](https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror= redirect,quality=90,width=1434/https://s3.cointelegraph.com/uploads/2023-03/bb1dc7f9-6d12-4baa-a3c8-c10c947e0707.jpg)
![Do Kwon had the right idea, banks are at risk for fiat-backed stablecoins - CZ](https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDMvYmIxZGM3ZjktNmQxMi00YmFhLWEzYzgtYzEwYzk0N2UwNzA3LmpwZw==.jpg?#)
Given Silicon Valley Bank's direct involvement in destabilizing USDC prices, CZ blamed the banks for increase the risks of stablecoins.
![Do Kwon had the right idea, the banks are risk for fiat-backed stablecoins - CZ](https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror= redirect,quality=90,width=1434/https://s3.cointelegraph.com/uploads/2023-03/bb1dc7f9-6d12-4baa-a3c8-c10c947e0707.jpg)
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