#CryptoStocks

The USDC (USD Coin) is a stablecoin backed by the US dollar at a 1:1 ratio, issued by Circle in partnership with Coinbase. It aims to provide a safe and fast means for digital transfers without the volatility of traditional cryptocurrencies. USDC is indirectly affected by current events, especially those that impact trust in the financial system or US banks. For example, the US banking crisis in 2023 affected USDC when Circle faced issues with Silicon Valley Bank, leading to a temporary loss of the coin's peg to the dollar. Additionally, government regulations against stablecoins or changes in US monetary policy affect its usage and adoption.

Sources:

Circle.com

CoinDesk - USDC News