The U.S. Banking System, Federal Reserve, & USDC Post-SVB Collapse with Ram Ahluwalia
Bankless
USDC's Resilience Amid Banking Turmoil
This chapter examines the impact of the Silicon Valley Bank collapse on USDC, highlighting its recovery due to new custodial ties with BNY Mellon. It discusses the evolving relationship between USDC and traditional banking, the potential for stablecoins as central bank digital currencies, and the implications of regulatory oversight. The conversation further explores recent federal actions regarding crypto banks and the challenges faced in the broader financial market context.
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