I work for the Internet and am an advisor to <a class="tweet-url username" href="https://twitter.com/stripe" data-screen-name="stripe" target="_blank" rel="nofollow">@stripe</a>. These are my personal opinions unless otherwise noted.

Patrick McKenzie

Public service announcement, I suppose. https://t.co/lhSEc3cYgA

1/ Following the confirmation at the end of today that the wires initiated on Thursday to remove balances were not yet processed, $3.3 billion of the ~$40 billion of USDC reserves remain at SVB.

Circle helps businesses and developers harness the power of USDC for payments and commerce. NMLS ID# 1201441 https://t.co/qwq45Jueif

Circle

I think it is unlikely that USDC is the only piece of financial infrastructure which transitively depended on the SVB, and caution folks that may think one dodged this bullet to consider how if AWS goes down one is still impacted even if one doesn’t use AWS.

Note that I *specifically do not mean crypto infrastructure.*

I work for the Internet and am an advisor to @stripe. These are my personal opinions unless otherwise noted.

from Patrick McKenzie | by Patrick McKenzie