Gemini Dollar GUSD Depegs, Drops to $0.9793
The stablecoin realm has been going through a tough time over the weekend due to the banking drama and Circle. Circle (USDC) has undoubtedly gained attention amidst all the turmoil, though not always for the better. The stablecoin issuer confirmed the rumors that Circle did indeed hold $3.3 billion in cash in the Silicon Valley Bank. Also read: Behind the Curtain of Silicon Valley Bank: A Look at the CFO’s past at Lehman Brothers Following this drama, the Gemini Dollar ( GUSD ) has also been affected. GUSD has lost its peg and is trading at $0.9793 at press time. JUST IN: Gemini dollar $ GUSD depegged and is now trading at $0.96 — Watcher.Guru (@WatcherGuru) March 11, 2023 Gemini confirmed zero relationships with Silicon Valley Bank Amidst all the Silicon Valley Bank chaos, including the bank’s closure, the cryptocurrency realm has definitely been affected. However, in one of its recent tweets, the exchange tweeted regarding its relati...