Insolvency fears led many to turn to other stablecoins, sell USDC at a major discount
Several USD Coin holders have fled to other stablecoins amid fears surrounding its solvency.
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The depegging of the USDC stablecoin has affected other stablecoins, which in turn wreaked havoc on crypto projects and stakeholders in a massive chain reaction.
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USDC investor shells out $2M to receive $0.05 USDT trying to evade crash
While the crypto market responded with a massive sell-off, not all USDC investors were lucky enough to walk away with their funds amid the uncertainty.
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