Community Trust ScoreVerified
- USDT Vs. USDC 33rd Reserve Attestation Feelings
- CTO and Lawyer do all Talking
- Jeremy Allaire Talking all Good about USDC
USDT is the leading stablecoin in the crypto market. Therefore, keeping track of USDT issued is a useful indicator for investors to assess market conditions. USDT is issued on different blockchains as ERC, TRC, EOS, Liquid, SLP, Algorand, SPL, and OMNI.
As the 33rd Reserve Attestation Establishing Fundamental Trust for USDC is happening. At this point, Stuart Hoegner pointed to how some tweets age poorly, but not this one: Asad Khan” I think it’s interesting that Tether gets a lot of shit for holding commercial paper as reserves. Still, no one can confirm whether or not Circle is doing the same thing.”
Circle defenders were like Circle isn’t holding nearly as much commercial paper, and they aren’t claiming to be the 7th largest commercial paper holders in the world without anyone ever hearing of them.
I never heard of a company your size letting the CTO and lawyer do all the talking. It’s weird and unprofessional.
John Paul Koning: “Great news. USDC’s latest attestation report has a full breakdown of its investments and plenty of explanatory notes to help address further questions. In terms of transparency, the other stable coins now have some catching up to do.”
Jeremy Allaire talked about all GoodyGoody good things. “Finally, as we march towards becoming a listed company, we will be filing quarterly audited financials and management disclosures that will be required as an SEC-regulated public company. In addition, we will include USDC reserve composition disclosures similar to our attestations.
We are thinking about ways to share this in an on-chain, Oracle-linked format and expand and publish detailed analytics on the core liquidity profile of USDC. e.g., history of creation and redemption behavior compared against market conditions.
We can do more, including more frequent sharing of reserve vs. token balances published daily, which Treasury/OCC already requires national banks who hold our reserves to track this.
Given the increased scale and role of USDC in the ecosystem and our journey to being a public company, expanding our accountability is a key theme.”
Also, Circle is set to become a public company: “The transformation of Circle into a global, publicly listed company is exciting in and of itself; it is merely a marker in our journey to transform the world’s economic system using internet-native technologies. We have a long way to pursue our mission and are incredibly grateful to everyone for your support and engagement with Circle. We are also thrilled to partner with Concord’s executive and investment team, drawing on their decades of operational experience growing financial services businesses around the world.”
Probably, the Goody Goody good stuff of USDC is annoying USDT Guys.
