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31 July 2021

Circle Unveils Backing Behind Its Dollar-Pegged Cryptocurrency - Decrypt

Circle Unveils Backing Behind Its Dollar-Pegged Cryptocurrency - Decrypt


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The total value of assets held in these accounts must be equal to (or greater than) the number of the issuer’s stablecoins currently in circulation. .

According to a report written by Circle’s accountants Grant Thornton, which wasissued on Friday, Circle held $22,176,182,251 in its account at the time of the report.

Secondly, Circle will continue to provide timely reserve attestations through Grant Thornton to show the public that USDC is backed by adequate reserves, as it did on Friday for the thirty-third time since it began issuing USDC

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