Circle CEO: U.S. Banking System Risks and Encryption Regulation

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According to news on April 26, Circle CEO Jeremy Allaire said in an interview that amid challenges in the banking system and regulation, investors pushed to "transfer risk away from the United States," which led to a decline in the market value of the stablecoin USDC. Allaire said, "We have seen a lot of attention on the US banking system globally, and we have seen concerns about the US regulatory environment." According to CoinGecko data, the market value of USDC fell from a peak of more than USTAINVPROPISRAEL billion in June last year to 307. billions of dollars or so.