One of the controversial names in the cryptocurrency world, Tron (TRX) founder Justin Sun talked about the recent crisis of USDC distributor Circle. As it is known, some of the reserve assets of Circle’s USDC stablecoin remained in the bankrupt US bank Silicon Valley Bank, and the USDC price, which should normally be fixed at 1 dollar, fell to $ 0.82. Tron founder Justin Sun stated that Circle is a business partner of them and said the following on the subject:
“Concerned to see @Circle ‘s #USDC depegging, but as a partner of Circle, we’re closely monitoring the situation. Our team at #TRON stands ready to offer assistance if needed.
Stablecoins play a critical role in the crypto ecosystem, and we remain committed to supporting their stability and reliability. We’ll continue to work closely with @Circle and other partners to ensure the integrity of the stablecoins and the broader crypto market.”
In addition, Sun evaluated the situation of the failed bank Silicon Valley Bank:
“Recent incidents like the SVB situation highlight the potential harm caused to many in the industry. It’s time to build a reliable bank that can cater to the needs of the crypto industry. As a supporter of this ecosystem, I’m open to any idea that can help create such a bank.
I’m willing to collaborate with my friends to provide funding, management, and operational support, whether it’s onshore or offshore. A robust banking infrastructure that bridges traditional finance and crypto is essential to enable wider adoption of cryptocurrencies.
Let’s work together to establish a safe and regulated environment for the crypto industry and ensure that incidents like the SVB case do not occur in the future.”