Stablecoin issuer Circle holds an undisclosed USDC cash reserve at Silicon Valley Bank. USDC is the second largest stablecoin with a market cap of $43 billion and is fully backed by government bonds and cash assets. According to Circle’s January reserve report, the company holds $9.88 billion in USDC cash reserves at regulated banks, including Bank of New York Mellon, Citizens Trust Bank, Customers Bank, New York Community Bank, Signature Bank, Silicon Valley Bank and Silvergate Bank. Accordi...