#stablecoin
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According to the March 2023 reserve report , a total of 8.7 billion USDC is being held in six banks. However, three of these banks – Silvergate, Signature, and Silicon Valley Bank – are currently experiencing liquidity and solvency issues. The situation is especially dire for Silicon Valley Bank, which held 3.3 billion USDC and has been forced to close by the California Department of Financial Protection and Innovation.
The USDC price has dropped by 15%, to $0.86, in response to these developments. Additionally, the DAI stablecoin has fallen by 10%, as up to 50% of its collateral is held in USDC.
Currently, US Treasury bills account for 77% of the USDC reserves. The remaining 23% is held in cash at various banking institutions. The fate of these funds will depend on the outcome of the bankruptcy process for the affected banks and the amount of funds that can be recovered. 
An overview of EUR & CHF stablecoins
All traders are familiar with stablecoins pegged to the US dollar, which dominate the cryptocurrency market. However, some traders may prefer to trade stablecoins that are pegged to other currencies, such as the euro or Swiss franc. Let's go over the types of these assets and the exchanges where they can be found. 
Markus Thielen, Head of Research at Matrixport, believes that the SEC is not targeting stablecoins. The charge against Paxos is indirect. The regulators are planning an attack on Binance, which stored customer funds in the same wallet with its collateral for some in-house tokens.
The regulations require that exchanges' corporate assets must be recorded in separate accounts and cannot form part of the proof-of-reserves calculations.
That's simple: Binance cannot confirm its BUSD reserves. Paxos Trust Company, which is the only issuer of the exchange's stablecoin, serves as a witness in this case, not a defendant.
Has CZ fallen into curly-haired Sam’s trap by mixing up customers' wallets with his own? We find it hard to believe. Hopefully, his accounting skills are way better. 
Singapore police launch an investigation into Terraform Labs
Do Kwon, who had seemingly disappeared from public view, left behind a significant problem that has continued to affect the crypto market for almost a year. The collapse of his main creations, the Terra USD stablecoin and its ecosystem, has had far-reaching consequences. 
Aave announced the freezing of reserves of the exchange's sole stablecoin BUSD in light of Paxos' move.
Mark Zeller claims that the coin has no chance of developing and that it may harm the project's arbitrage opportunities.
The 26th of February is predicted to be the Doomsday for BUSD on Ave. Which stablecoin will take the place of the coin is yet to be determined. 
The LUNC community is having a vote (https://atomscan.com/terra/votes/11324) we all deserve. Namely: a proposal to re-peg the USTC stablecoin to $1.
Better yet, the decision has almost been made. Following the news, USTC increased by 60% in just 10 hours, and the internal token LUNC caught up and rose by 20%.
Hey, why stop at $1? Don’t you think that $10-$15 sounds juicier? After all, you’re the only ones in the "moon" market, so you probably won’t face any issues with interest either. 
