Re:Bitcoin’s reliance on stablecoins harks back to the Wild ...
by wmf on Friday June 04, 2021 @07:58PM
(#27400551)
Something is off in USDC land though: https://news.bitcoin.com/usdc-attestations-run-late-raising-...
[ Parent
| on HN ]
Re:Bitcoin’s reliance on stablecoins harks back to the Wild ...
by roseway4 on Friday June 04, 2021 @08:19PM
(#27400711)
The March attestation was published 5/24 (the day prior to that article) and is available on the Centre website[1]. It doesn’t appear there’s cause for alarm in this case.
[1] https://www.centre.io/hubfs/pdfs/attestation/grant-thorton_c...
Re:Bitcoin’s reliance on stablecoins harks back to the Wild ...
by Marazan on Saturday June 05, 2021 @04:33AM
(#27403299)
Except the attestations have stopped saying how much cash they have in their accounts and now just say that Cricle _claim_ they have enough assets to cover the liabilities.
This is a HUGE change and massively cause for alarm.
Re:Bitcoin’s reliance on stablecoins harks back to the Wild ...
by antb123 on Saturday June 05, 2021 @10:53AM
(#27405548)
Probably no depositor insurance but whatever.
Re:Bitcoin’s reliance on stablecoins harks back to the Wild ...
by jhanschoo on Saturday June 05, 2021 @09:27AM
(#27404807)
Note that apparently attestations just validate that a certain bank account had a certain number at a certain time, which obviously does not account for loan obligations. In Tether's case
> https://www.singlelunch.com/2021/05/19/the-tether-ponzi-sche...
> [Tether was] Failing to complete an audit and settling on an attestation “for transparency”. The morning of the attestation, tether moved $380m from sister company bitfinex into a bank account to pass the verification
Re:Bitcoin’s reliance on stablecoins harks back to the Wild ...
by latchkey on Saturday June 05, 2021 @09:04AM
(#27404632)
That site is generally not a trusted news source. I'd follow that link up with something else.
Re:Bitcoin’s reliance on stablecoins harks back to the Wild ...
by wmf on Saturday June 05, 2021 @01:38PM
(#27407033)
OK: https://www.centre.io/usdc-transparency It's now June and they haven't published information for April 31st.