TYB!
USDC depegged as a result of SVB bank failing.
This is huge.
Many, MANY trading Bitcoin, would use "BTC/USDC" to trade with, so that they didn't "swap to dollars and trigger a taxation event" for those who still believe they have to pay taxes.
Picrel is from coinmarketcap:
https://coinmarketcap.com/currencies/usd-coin/