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Yes, money started moving over to USDC at exactly the same time they reduced transparency over their reserves and stopped being fully dollar backed. The risk i
by Marazan 5y ago
Yes, money started moving over to USDC at exactly the same time they reduced transparency over their reserves and stopped being fully dollar backed.
The risk is still right there.
- onlyrealcuzzo 5y agoIs there an article about USDC that describes what/when the major changes happened. My understanding was that Coinbase was 1:1 dollars, and they actually had that money in banks, etc. Then, they ended transparency and the 1:1 peg. This is when people suspect they started getting debt to buy BTC - but this is presumably legal, right? Do they have any obligation to be transparent - being a publicly traded company?