USDC Stablecoin Depegging Causes Concern Among Crypto Advocates, 5 Other Stablecoins Drop Below $1
The recent depegging of the USDC stablecoin has caused concern among crypto advocates, with five other stablecoins dropping below the $1 mark. Stablecoins are digital assets designed to maintain a stable value, usually pegged to the US dollar or other fiat currency. The recent depegging of USDC, which is backed by the US dollar, has caused alarm among crypto advocates as it could signal a lack of trust in the asset. The USDC stablecoin is issued by the Centre Consortium, a joint venture between Circle and Coinbase. The coin is