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> The way this normally happens, USD deposits are made to an exchange that has a relationship with Circle, and 1 USDC is minted for each 1 USD on deposit at Cir
by AnonHP 5y ago
> The way this normally happens, USD deposits are made to an exchange that has a relationship with Circle, and 1 USDC is minted for each 1 USD on deposit at Circle.
On the other hand, the most popular (?) stablecoin, Tether (USDT) doesn’t have a one-to-one relationship with USD deposits, and the amount it really has in USD is believed to be very low (I don’t know the numbers, but have read that there haven’t been any audits or published audits).
- anon9001 5y agoIf this bothers you, you will be shocked to learn how US chartered banks operate.
- EVa5I7bHFq9mnYK 5y agoIf you "have read", that should be enough for you to mortgage your house, invest all that money in shorting the USDT/USD trading pair and get rich. Sure thing, you have read it.