2 ms·
Actually, I was mistaken. This is not even what USDC claims to be. What they claim, at the moment, is this: "US Dollars held in custody accounts are the total
by user-the-name 5y ago
Actually, I was mistaken. This is not even what USDC claims to be. What they claim, at the moment, is this:
"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."
So the money is not in actual dollars. It is in entirely unspecified "approved investments".