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USDC is 1-1 backed, audited and quite transparent. They won’t run with your money for the same reason your bank won’t do it.
by kikimora 1y ago
USDC is 1-1 backed, audited and quite transparent. They won’t run with your money for the same reason your bank won’t do it.
- user34283 1y agoNot quite. The USDC reserve is "attested" rather than "audited" on a monthly basis. While that particular company might have a good reputation for crypto standards, it still is no bank. It faces less strict requirements and for example doesn't include an ICFR opinion or recurring supervisory on-site exams.