There is a lot of FUD right now. But Circle (company responsible for the peg USDC <> USD) is actually very transparent and the data is independently audited every month (https://www.circle.com/en/transparency):

Last month, Circle had $43.4B in assets. They've announced that $3.3B is exposed to SVB: that's approximately 7.6% of their assets (unclear how much they have right now, but it's in that horizon). In January, a total of $11.1B was held at banks (SVB+others). Everything else ($32.4B or approximately 75% of assets) is held in a fund as US Treasury Bonds. 75% of Circle's assets are thus basically insured by the US itself.

Meaning that even if SVB were to give nothing back of the $3.3B it owes to Circle (unlikely, they'd at least get some of it back), the loss would be limited at around 7.6%. In the even less likely case of a total collapse of all the banks they're using, about 1/4 at most would be lost to the banks.

This isn't a Terra make over. Very different situation. This is a well structured company with lots of due diligence and auditing proving the safety of the assets. Chill out, everything's gonna be alright.

Disclaimer: not financial advice. I'm just a normal guy who can open a PDF and read the data.