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0 pointshiq3y ago0 comments

> USDC (coinbase) is properly and regularly audited

I've only found attestations just like USDT, where did you see an audit?

0 comments

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?

unicornmama3y 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)

fastball3y 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.

whimsicalism3y ago

You are wrong, both USDC and USDT are only attested, however USDC has tried to spin their attestation as an audit.

ValentineC3y ago

Gemini Dollar (GUSD) might be one of the few stablecoins that supposedly have audits backing them:

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. :)

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