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> For comparison there are 7.5 bn USDC circulating and these are emitted by Centre/Coinbase and these are known to be real (Coinbase being an HN unicorn to soon
by csomar 6y ago
> For comparison there are 7.5 bn USDC circulating and these are emitted by Centre/Coinbase and these are known to be real (Coinbase being an HN unicorn to soon do its IPO).
Fun fact: USDC is not backed by real USD. Circle is using these dollars for its trading purposes and that's actually in the ToS.
Pretty much no stable coin is: https://omarabid.com/usd-stable-coins https://omarabid.com/usd-stable-coins
- TacticalCoder 6y ago> Fun fact: USDC is not backed by real USD. Circle is using these dollars for its trading purposes and that's actually in the ToS. That is really weird. From the link you gave: "you agree Circle is free to use the funds provided for its own purposes". As you wrote: it may be the case that no stable coin actually is stable.
- gruez 6y ago>it may be the case that no stable coin actually is stable. gemini dollars, maybe?