From what I understand, they technically didn’t get “bailed out” because Circle requested a wire on Thursday which was before the cut off time which was Friday morning. They were going to get the full amount anyways even if the deposits weren’t covered 100%.
they got bailed out:https://protos.com/how-the-us-govt-bailed-out-usdc-stablecoin/
The government declared SVB and Signature as systemically important. To alleviate contagion to the US financial system, the FDIC guaranteed all deposits at both banks — including deposits above the FDIC’s standard, $250,000 per customer limit for federal deposit insurance.
Quote
Keep in mind they didn’t bail out the bank or shareholders. The bank is gone and if trading ever resumes it will trade close to $0 pretty much.
usdc is back at $1. thanks to the government bailout. trading in usdc has resumed... 
