this seems like a panicky overreaction.

- Circle only held $3.3b (out of 50b+) in SVB
- They'll get most of that back. SVB is not FTX! There's enough assets to cover (or like ~95% cover) deposits
- Coinbase has $5b+ cash on hand and gains nothing from letting USDC die

1 USDC = $1
 https://i.imgur.com/yc6v5RM.png

Real World Ethereum 🌎 
building /daimo ✳️ 

Whoever sold at $0.88 will feel pretty dumb once they realize that, even if Circle's SVB deposits are worth $0 (no chance) and Coinbase does nothing (also no chance) --- even then, 88 cents is way too low!

SVB deposits were much less than 12% of the backing assets