Circle plans to cover Silicon Valley Bank's cash crunch with corporate funds
According to Circle, USDC liquidity operations "will resume as normal when banks open Monday morning in the United States," allowing the 1:1 USDC redemption with US Dollar.
![Circle plans to cover liquidity shortfall in Silicon Valley Bank with corporate funds](https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror= redirect,quality=90,width=1434/https://s3.cointelegraph.com/uploads/2023-03/a6bd2740-6ec7-4eb2-89c3-69f5cc3b69b7.jpg)
![Circle plans to cover Silicon Valley Bank's cash crunch with corporate funds](https://images.cointelegraph.com/images/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDMvYTZiZDI3NDAtNmVjNy00ZWIyLTg5YzMtNjlmNWNjM2I2OWI3LmpwZw==.jpg?#)
According to Circle, USDC liquidity operations "will resume as normal when banks open Monday morning in the United States," allowing the 1:1 USDC redemption with US Dollar.
![Circle plans to cover liquidity shortfall in Silicon Valley Bank with corporate funds](https://images.cointelegraph.com/cdn-cgi/image/format=auto,onerror= redirect,quality=90,width=1434/https://s3.cointelegraph.com/uploads/2023-03/a6bd2740-6ec7-4eb2-89c3-69f5cc3b69b7.jpg)
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