USDC bounces back toward $1 peg after Fed announcement

Circle’s stablecoin USD Coin (USDC) is climbing back to its $1 peg following confirmation from CEO Jeremy Allaire that its reserves are safe and the firm has new banking partners lined up at “banking open tomorrow morning.”

According to CoinGecko data, USDC is up 3.3% over the past 24 hours to sit at $0.99 at the time of writing.

Source