Circle, a stablecoin issuer, doesn't appear to be very contrite about the fact that it was bailed out last March. It expresses "no remorse" over its decision to hold billions in uninsured deposits at Silicon Valley Bank, and says it was "as diversified as possible." It blames "banking" for its woes, which is "extremely difficult" for crypto firms.

Is that accurate? Paxos, Circle's stablecoin rival, was very well-protected. Why didn't Circle do the same?

http://jpkoning.blogspot.com/2023/09/circle-says-its-usdc-stablecoin-was-as.html