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This is what they claim, in the March 2021 report: "US Dollars held in custody accounts are the total balances in accounts held by the Company at federally ins
by user-the-name 5y ago
This is what they claim, in the March 2021 report:
"US Dollars held in custody accounts are the total balances in accounts held by the Company at federally insured US depository institutions and in approved investments on behalf of the USDC holders at the Report Date."
Note the "and in approved investments". Not cash.