#Crisis in #SiliconValley : #FDIC Backing Saves #Circle and #Sequoia $4 Billion
The decision by federal regulators to back Silicon Valley Bank saved Circle, the USD Coin issuer, and Sequoia Capital more than $4 billion, according to a Bloomberg report.
According to a document released by the Federal Deposit Insurance Corporation (FDIC) to the media house, two of the largest crypto-industry companies caught in the crisis at the defunct Silicon Valley Bank saved more than $4 billion.
