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A comment on Another stablecoin loses peg – DEI team working to restore the peg. Parent comment

Re:Another stablecoin loses peg – DEI team working to restor... by DebtDeflation on Tuesday May 17, 2022 @11:42AM (#31412344)
Read the actual report to see what they are attesting to:

https://www.centre.io/hubfs/PDF/2022%20Circle%20Examination%...

1) There are 51.39 billion USDC in circulation.

2) On a particular day (the Report Date) Circle held an amount of USD-denominated assets at least equal to the number of USDC in circulation in a segregated account.

Note what is absent: No statement as to what these assets are. No statement as to where they came from and whether they were in the account the day before or the day after the Report Date.

[ Parent | on HN ]
Re:Another stablecoin loses peg – DEI team working to restor... by Animats on Tuesday May 17, 2022 @02:10PM (#31414391)
On a particular date and time - 11:59 PM on March 31, 2022.

In the crypto world, where you can borrow a few billion dollars for a few seconds cheaply, that doesn't mean much.

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