4 ms·

Clickbait title it seems; USDT and DAI lost some market share while BUSD and USDC have grown more. > USDC has grown 20% with $10.6 billion more tokens in circu

Clickbait title it seems; USDT and DAI lost some market share while BUSD and USDC have grown more. > USDC has grown 20% with $10.6 billion more tokens in circulation. BUSD boosted up 22% — representing growth of $4.2 billion. USDT has shed about $4.1 billion, a 5% reduction, while DAI dwindled by 30% — from $8.9 billion to $6.2 billion.

ur-whale 4y ago
> while BUSD and USDC have grown more. If I am not mistaken, USDC (coinbase) is properly and regularly audited for proof-of-reserves? Not so sure about Binance though. But at any rate, if capital starts to migrate to audited stablecoins from POS (and by that, I don't mean proof of stake) like Tether, sounds to me like a good thing.
- throwaway-jim 4y ago
  BUSD is just rebranded Paxos Standard iirc.
  - nlitened 4y ago
    You’re thinking about USDP, if I am not mistaken. BUSD is Binance dollar.
    - trompetenaccoun 4y ago
      It's "Binance Dollar" but it's issued by Paxos. Though it isn't like the first person claimed, the most trusted among the community are DAI and USDC.
      - nlitened 4y ago
        Wow, I didn't know that BUSD is also issued by Paxos, thank you.
- hiq 4y ago
  > USDC (coinbase) is properly and regularly audited I've only found attestations just like USDT, where did you see an audit?
  - exdsq 4y ago
    I’m sure I’ve seen an audit before but because Coinbase is a public company all finances have to be released so you should be able to see it there too?
    - fastball 4y ago
      USDC doesn't stand for USDCoinbase it stands for USDCentre, where Centre is a private consortium between Cirlce, Coinbase, and Bitmain. So no, don't think there is any way to see the actual backing.
    - unicornmama 4y ago
      IIRC USDC is run by Circle, a separate legal entity. While CB and Circle might be controlled by the same people, they are not subject to the same legal disclosure requirements. https://en.m.wikipedia.org/wiki/Circle_(company) https://en.m.wikipedia.org/wiki/Circle_(company)
    - deleted 4y ago
      [deleted]
    - whimsicalism 4y ago
      You are wrong, both USDC and USDT are only attested, however USDC has tried to spin their attestation as an audit.
  - ValentineC 4y ago
    Gemini Dollar (GUSD) might be one of the few stablecoins that supposedly have audits backing them: https://www.gemini.com/dollar https://www.gemini.com/dollar I don't have any loyalty to a coin, so I'd love it if someone could say something against them so I can weigh the risks appropriately. :)

ur-whale 4y ago

> while BUSD and USDC have grown more. If I am not mistaken, USDC (coinbase) is properly and regularly audited for proof-of-reserves? Not so sure about Binance though. But at any rate, if capital starts to migrate to audited stablecoins from POS (and by that, I don't mean proof of stake) like Tether, sounds to me like a good thing.

throwaway-jim 4y ago
BUSD is just rebranded Paxos Standard iirc.
- nlitened 4y ago
  You’re thinking about USDP, if I am not mistaken. BUSD is Binance dollar.
  - trompetenaccoun 4y ago
    It's "Binance Dollar" but it's issued by Paxos. Though it isn't like the first person claimed, the most trusted among the community are DAI and USDC.
    - nlitened 4y ago
      Wow, I didn't know that BUSD is also issued by Paxos, thank you.
hiq 4y ago
> USDC (coinbase) is properly and regularly audited I've only found attestations just like USDT, where did you see an audit?
- exdsq 4y ago
  I’m sure I’ve seen an audit before but because Coinbase is a public company all finances have to be released so you should be able to see it there too?
  - fastball 4y ago
    USDC doesn't stand for USDCoinbase it stands for USDCentre, where Centre is a private consortium between Cirlce, Coinbase, and Bitmain. So no, don't think there is any way to see the actual backing.
  - unicornmama 4y ago
    IIRC USDC is run by Circle, a separate legal entity. While CB and Circle might be controlled by the same people, they are not subject to the same legal disclosure requirements. https://en.m.wikipedia.org/wiki/Circle_(company) https://en.m.wikipedia.org/wiki/Circle_(company)
  - deleted 4y ago
    [deleted]
  - whimsicalism 4y ago
    You are wrong, both USDC and USDT are only attested, however USDC has tried to spin their attestation as an audit.
- ValentineC 4y ago
  Gemini Dollar (GUSD) might be one of the few stablecoins that supposedly have audits backing them: https://www.gemini.com/dollar https://www.gemini.com/dollar I don't have any loyalty to a coin, so I'd love it if someone could say something against them so I can weigh the risks appropriately. :)