• Justin Sun revealed his thoughts on the USDC depeg and was worried about its impact.
• TRX bounced courtesy of accumulation during its brief dip into oversold territory.

Tron founder and CEO Justin Sun is among the blockchain industry leading figures that have weighed in on SVB saga and USDC’s depeg.

The latter was not as bad as the UST depeg that occurred last year but it highlights vulnerabilities that may bring about huge losses.

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Sun revealed that he was concerned about USDC’s depegging. The reason for this concern is that Circle, the company behind USDC happens to be one of Tron’s biggest partners.

He also revealed that Tron is currently keeping a close eye on USDC on account of the robust exposure that it has to the stablecoin.

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.

— H.E. Justin Sun 孙宇晨 (@justinsuntron) March 12, 2023

Assessing the level of Tron’s exposure to USDC woes

The CEO also disclosed the total stablecoin transfer volume on the TRON networ

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Author: Michael Nderitu

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