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Tether Limited has released an assurance report reviewed by Moore Cayman, an auditor of investment funds and digital assets. The report provides a breakdown of the company’s assets and reserves which Moore Cayman claims are around $62.7 billion as of June 30. Tether Publishes Assurance Report On August 9, 2021, Tether’s chief technology officer tweeted … Read more
The crypto financial services company Huobi and the firm’s stablecoin issuer Stable Universal have published monthly HUSD attestation reports. The audits indicate the funds that back Huobi’s stablecoin are kept in cash in U.S. money market accounts in order to ensure the 1:1 ratio with USD. HUSD Monthly Attestations On Thursday, more than $117 billion … Read more
USD Coin holders will soon be able to transfer the stablecoin via human-readable addresses across supported wallets and crypto exchanges. Go to Source Powered by WPeMatico
The Singapore-based crypto trading platform has inked a partnership with stablecoin issuer Circle. Go to Source Powered by WPeMatico
Paxos, a regulated blockchain company, recently presented the basket of resources that back its stablecoins. Paxos Standard (PAX) and Binance USD (BUSD) are reportedly backed almost 100% by cash and cash equivalents. Dan Burstein, CCO of Paxos, harshly criticized Tether and Circle, issuers of other stablecoins, stating their products we’re not really stablecoins. Paxos Reveals … Read more
Tether’s general counsel said a full audit is coming in months. Go to Source Powered by WPeMatico
Grant Horton has conducted an audit on USDC’s reserves and Jim Cramer has questioned what’s going on with Tether’s commercial paper reserves. Go to Source Powered by WPeMatico
Payments giant Mastercard has announced that its crypto card program is being enhanced for cryptocurrency wallets and exchanges. The company said, “Making the process simpler will allow more banks and crypto partners the opportunity to offer their consumers the choice of paying with cryptocurrency.” Mastercard Making It Simpler to Convert Cryptocurrency to Traditional Fiat Currency … Read more
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 … Read more
The President’s Working Group on Financial Markets expects to deliver regulatory recommendations for stablecoins in the coming months. Go to Source Powered by WPeMatico
