3 ms·

> 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 Binanc

> 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. :)

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. :)