USDC has lost its peg. What is everyone doing?

https://trade.kraken.com/charts/KRAKEN:USDC-USD

Touched 0.8948 and now 0.93, following failures of Silicon Valley bank and Silvergate .

Circle’s $3.3b stuck with SVB: https://www.coindesk.com/business/2023/03/11/circle-confirms-33b-of-usdcs-cash-reserves-stuck-at-failed-silicon-valley-bank/

Other news: https://www.coindesk.com/markets/2023/03/10/scrutiny-falls-on-43b-usdc-stablecoins-cash-reserves-at-failed-silicon-valley-bank/

https://www.coindesk.com/business/2023/03/10/crypto-wallets-withdraw-902m-usdc-from-centralized-exchanges-in-past-24-hours-amid-svb-silvergate-shutdowns/

https://www.coindesk.com/business/2023/03/10/defi-protocol-curves-500m-stablecoin-pool-hammered-as-traders-flee-usdc/

I’m actually surprised that the broader crypto market has not collapsed (BTC 20300 at time of post).

Anyone shorting USDC? Buying? What about pools where you have exposure to USDC?