Crypto whales suffer huge losses due to USDC depeg, SVB collapse

In response to the extraordinary depegging event of the USD Coin (USDC) stablecoin caused by the collapse of its counterparty Silicon Valley Bank (SVB), crypto whales have reported severe losses and appear to have embarked on a series of capital flights to protect assets. Du Jun, the co-founder of cryptocurrency exchange Huobi Global, posted: “[I] dodged, LUNA, dodged 3AC, even…