USDC definitely got hit as it depegged from the USDC for few days and traded for $0.87 at some point, it didn't "explode" (and it restored its peg) only because

USDC definitely got hit as it depegged from the USDC for few days and traded for $0.87 at some point, it didn't "explode" (and it restored its peg) only because the US government promised to bail out customers of the Silicon Valley Bank fully and not just upto $250,000 as it would be the case if in an usual FDIC coverage situation. Circle, the company behind this stablecoin had about $3.3 billions in SVB.