USDC Coin [USDC] was the stablecoin that faced the most issues, as its Silicon Valley Bank (SVB) holdings collapsed. Despite the hurdles faced by USDC, Circle, the issuer of the stablecoin, continued to capitalize on its growth. Circle, over the past week, has redeemed $1.1 billion in USDC, reducing its circulation by about $500 million. Despite this, the stablecoin still had a high circulation of $30.5 billion with ample reserves of $30.7 billion at press time, including $5.2 billion in cash and $25.5 billion in short-term U.S. Treasury bonds.