Cryptocurrency one of the world’s most controversial Tron (TRX) founder Justin Sun, USDC spoke about the recent crisis of its distributor Circle.
As it is known, some of the reserve assets of Circle’s USDC stablecoin remained in the bankrupt US bank Silicon Valley Bank, and the USDC price, which should normally be fixed at 1 dollar, fell to $ 0.82.
Justin Sun Says He’s Ready to Help Circle
Tron founder Justin Sun stated that Circle is a business partner of them and said the following on the subject:
“We are concerned to see Circle’s USDC lose its peg to $1, but as a partner of Circle we are monitoring the situation closely. Our team at TRON is ready to offer assistance in case of need.
Stablecoins play a critical role in the crypto ecosystem and we are committed to supporting their stability and reliability. We will continue to work closely with Circle and other partners to ensure the integrity of stablecoins and the overall crypto market.”
Recent incidents like the SVB situation highlight the potential harm caused to many in the industry. It’s time to build a reliable bank that can cater to the needs of the crypto industry. As a supporter of this ecosystem, I’m open to any idea that can help create such a bank.
— HE Justin Sun 孙宇晨 (@justinsuntron) March 12, 2023
Sun also evaluated the situation of the failed bank Silicon Valley Bank:
“Recent examples such as the SVB incident highlight the potential harm that many people in the industry can suffer. It’s time to build a reliable bank that can meet the needs of the crypto industry. As a supporter of this ecosystem, I am open to any ideas that can help create such a bank.
I am ready to cooperate with my friends to provide financing, management and operational support, whether onshore or offshore. A solid banking infrastructure that bridges traditional finance and crypto is essential for wider adoption of cryptocurrencies.
Let’s work together to create a safe and regulated environment for the crypto industry and ensure that incidents such as the SVB incident do not occur in the future.”
*Not investment advice.
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