USDC will no longer be backed by corporate bonds or commercial paper: https://www.bloomberg.com/news/articles/2021-08-23/coinbase-circle-to-move-all-usdc-reser

USDC will no longer be backed by corporate bonds or commercial paper: https://www.bloomberg.com/news/articles/2021-08-23/coinbase-circle-to-move-all-usdc-reserves-into-cash-treasuries https://www.bloomberg.com/news/articles/2021-08-23/coinbase-... I don't know how you feel about short term treasury bonds, but I think they are nearly as good as cash. Slightly less liquid but with some return.