Unlike the complete irrational panic on the depegging by HNers here on many threads, as usual and from those who don't know the difference between an algorithmic stablecoin and a centralized one.
As I said before [0] USDC is fine and it will re-peg to $1 and it will be business as usual. Ignore the USDC FUD, hyperbolics and the headlines and concentrate on the main concern which is the startups that have the majority or 100% of their VC cash on SVB and can't pay their employees.
What difference does it make? Neither work if the stablecoin becomes undercollateralized. Undercollateralized stable coins will crumble if there is a bank run. Tomorrow you will be able to exchange 1 USDC for $1. This will cause a feedback loop where USDC will continually be bought and then burned. The missing or illiquid 3.3 billion will become a larger and larger percentage of USDC's total market cap. Will they really take out a 3.3 billion loan just to pay out people in a dead stable coin? At that point it may make sense to just call it a failure and give up.