The chief executive of Circle feels that continuing woes and uncertainties surrounding the world's banking management system are likely to send the cryptocurrency market into a more black belt at the regulatory level.

Jeremy Alisle, CEO of dollar coin (USDC) issuer, shared his views on the industry dynamics after the collapse of Silicon Valley Bank on Twitter on March 23.

In the tweet, Allaire elaborated on the "deep sales market anxiety" about the common openness of the US financial system and the risk of large-scale bankruptcy of the US banking management system.

The chief executive of Circle noted that ongoing bank woes are more likely to endanger US-regulated login password companies than login password companies regulated by other jurisdictions, pointing out:

Ironically, participants in a more advantageous position at the level of integration of US regulation and the US banking management system are referred to as "dangerous", fearing that property could break down.

Allaire then indicated that the spread of SVB is likely to lead the login password sales market to less regulated industries, urging US policy makers to consider what will happen next. In a speech to Congress at the White House, he made up lies that in the past 10 years, the United States has never had such an urgent need to address an "established, coherent and pragmatic current policy."

"there is a serious risk that all strategic industries will slip away from the dominance of the United States," Allaire warned. "

At this stage, investors have turned to unregulated, completely opaque banks and leverage ratios and their financial risks / honest and trustworthy manipulation channels. It won't end well.

Allaire indicated that Circle will continue to operate within the scope of regulation and will continue to promote "more immigration and clearing bank partners". He noted that USDC "didn't miss a beat" and never acquired or redeemed USDC for $1, including "during the stability test period of the past week."

As reported by Cointelegraph, Circle experienced basic problems because of its exposure to the leverage ratio of failed Silicon Valley banks in the United States, and its USDC stable loan currency temporarily lost the influence associated with 1:1 in the US dollar. Then, the relatively stable bank was once again linked to Circle, announcing that Cross River had gradually become a banking partner and increased its association with Bank of New York City Mellon.

Allaire's comments echo some observations in the digital currency world, where some data encryption enthusiasts have expressed doubts about how Circle and other US-regulated companies have suffered from the disaster, but competitors such as Tether (USDT) publisher Tether Holdings have not encountered other problems so far.

As previously reported, Tether was one of the first companies in mid-to-late March to deny openness to SVB and other desperate American banks. According to Paolo Ardoino, Tether's technical director, the stable currency issuer is not open to SVB, Signature Bank or Silvergate.

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