Announce: USD Coin (USDC) Volatility caused to Silicon Valley Bank Shutdown

📣 Announce: USD Coin (USDC) Volatility caused to Silicon Valley Bank Shutdown

Dear Satang Pro customers,

On March 11, 2023, the Silicon Valley Bank was compelled to shut down by the U.S. Securities and Exchange Commission (SEC) due to a liquidity crisis. As a result of this development, customers of the Silicon Valley Bank have opted to withdraw their assets, including Circle, the issuer of the USD Coin (USDC) stablecoin. Circle had deposited $3.3 billion in USDC-pegged reserves with the Silicon Valley Bank.

The current scenario has caused concern among USDC holders about the potential insolvency of USDC. Consequently, they are seeking refuge in other stablecoins and selling significant amounts of USDC, which has resulted in the depegging of the USDC stablecoin from its $1 value.

We would like to assure all our customers at Satang Pro that we have no exposure to Silicon Valley Bank in any form. Rest assured that your assets and THB are securely and safely kept.

Our company strictly adheres to a digital asset storage policy, ensuring that all transactions for trading, deposits, and withdrawals of assets can be made as usual. You can carry out your transactions with confidence.

We have no policies or participation in any programs that would exploit your assets, as this goes against our commitment to ensuring the maximum safety and security of your assets.

We acknowledge that recent events may have caused anxiety and uncertainty among our customers. Before making any investment decisions, please consider the potential risks involved. Rest assured that we are closely monitoring the situation to ensure the safety and security of all our customers' assets.

Cryptocurrency is highly risky; investors may lose all investment money.

We appreciate your continued trust and support.

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