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During the weekend, rumors that regulators might consider safeguarding all uninsured deposits at Silicon Valley Bank (SVB) gave significant relief to the investors, leading to a strong rebound of the broader crypto market over the weekend. In addition, the news that Circle pledged to cover a shortfall in $3.3 billion of reserves held at SVB also soothed some concerns. Today's hot token is USDC, which is re-pegging following a drop to a historic low of 0.875 per US dollar.