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26 July 2021

Circle Publishes USDC Attestation, Reserve Report Reveals Segregated Accounts in USD-Denominated Assets – Bitcoin News

Circle Publishes USDC Attestation, Reserve Report Reveals Segregated Accounts in USD-Denominated Assets – Bitcoin News


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On July 20, the CEO of Circle Internet Financial LLC., Jeremy Allaire, published a blog post that explains the firm’s dollar-pegged stablecoin is backed by “prioritized trust, transparency, and accountability.” Allaire’s blog post follows a letter from the Centre Consortium’s accountant, Grant Thornton explaining that the stablecoin’s reserve account information matches the accompanying reserve account report, which is “correctly stated.”.

At press time, 30-day statistics show USDC in circulation on July 20, 2021, is 10% higher than the latest attestation, as the reserve report only covers USDC accounting until the end of May.

In the blog post published on Tuesday, Allaire says that Circle and the Centre Consortium have ensured the “pillars of trust” so the public understands that USDC remains backed on a 1:1 basis with dollar-denominated assets.

Allaire also details in his blog post that the latest attestation keeps records of a breakdown of dollar-denominated assets.

What do you think about Circle’s blog post, the letter from Grant Thornton, and the stablecoin’s latest reserve attestation

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