The real news came out last month when the attestations were released. Coinbase is just playing catch up.[0] (<-- better article) My real questions are (1) Did

The real news came out last month when the attestations were released. Coinbase is just playing catch up.[0] (<-- better article) My real questions are (1) Did Coinbase know? (2) If they didn't, Circle presumably lied to Coinbase... so why the hell should we trust USDC any more than Tether? (3) Why is it so hard to create a stable coin where at least 90% is cash? The carry on 10% in treasuries on billions should be sufficient to cover operating costs. [0]: https://www.bloomberg.com/news/articles/2021-08-11/coinbase-drops-promise-of-token-s-cash-backing-that-wasn-t-true https://www.bloomberg.com/news/articles/2021-08-11/coinbase-...