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A comment on Legal expert says Tether and Binance Coin are likely picks for SEC lawsuit. Parent comment

Re:Legal expert says Tether and Binance Coin are likely pick... by ikt on Wednesday June 16, 2021 @08:26PM (#27534997)
> At the most basic level, some entity is making statements about their financials (like “we have X in reserves”) and nobody can check this.

USDC seems to be doing it just fine?

https://www.centre.io/usdc-transparency

> Top five accounting services firm Grant Thornton LLP issues attestations each month on the US dollar reserves that back the USDC tokens in circulation.

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Re:Legal expert says Tether and Binance Coin are likely pick... by skybrian on Thursday June 17, 2021 @10:09PM (#27546693)
USDC does seem better, but the last attestation is from April and there are reports that they've been running late a while [1]. That's not as bad as the competition but still seems very bad, given that stability is what they do? Especially since they haven't explained what happened as far as I can tell.

On the other hand, it looks like USDC's market cap doubled in less than two months, so I guess that's good for them?

[1] https://news.bitcoin.com/usdc-attestations-run-late-raising-...

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Re:Legal expert says Tether and Binance Coin are likely pick... by nieve on Thursday June 17, 2021 @03:48AM (#27537123)
Attestations, but I believe no true audits.
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