The collapse of Silicon Valley Bank (SVB) affected, among others, the USDC’s reserves and this “blue-chip” stablecoin has lost its peg to the dollar. Ironically, the only decentralized unicorn stablecoin project, MakerDAO is now in trouble due to its “reinforcing” USDC-backed component.

Paxos will increase the share of its USDP stablecoin in Maker's DAI Peg Stability Module (PSM). To facilitate this Paxos will transfer MakerDAO 45% of the income it gets from its own reserves on the deposited coins.

Circle has created a protocol that replaces cross-chain bridges - CCTP. The launch is planned in the middle of the first quarter of 2023 on Ethereum and Avalanche.

SPAC Concord, chaired by former Barclays CEO Bob Diamond, has canceled USDC's Circle acquisition deal worth USD9 billion.

Circle, which owns one of the most popular stablecoins – USDC, has made changes to its financial forecasts due to the automatic conversion of USDC into BUSD stablecoin and the risks after the collapse of FTX, outlining them in a new document for the Securities and Exchange Commission.

This year was an eventful year in the world of crypto. In particular, the collapsed Terra and FTX crisis affected the entire crypto market, and again attracted the attention of regulators to crypto and stablecoins. Stablecoins are valued for their technological features, while, at the same time, maintaining a stable

Major stablecoins reacted to FTX saga by temporarily losing their peg. No major losses so far.

The euro-backed stablecoin will launch on Solana in the first half of 2023, Circle reported.