Cryptocurrency
Out of context: Reply #216
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- grafician-9
So USDC is turning into the new Tether...
https://www.coindesk.com/circle-…
"The question of USD Coin’s approved investments has only gotten more pressing as it has grown. Back in early 2020 when it first began to buy approved investments, Circle had issued only $400 million in USD Coins. But now there are about $25 billion USD Coins in circulation. That’s a lot. It’s almost as big as PayPal."
"Also concerning is the steady slowing down in the publication of Circle’s attestation reports, as first recounted by Andrew Rennhack. Last year, Circle would typically publish its USD Coin reports 15 days or so after the end of a month. Now reports are appearing on Circle’s website almost two months late. Circle’s most recent USD Coin attestation report dates to April 30, more than two months ago."
"Finally, Circle recently stopped disclosing the precise amount of U.S. dollars it holds in custody, as reported by Doomberg. Circle probably has good reasons for doing so, but why didn’t it disclose those reasons in its USD Coin attestation report?"