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by arcticbull 1950 days ago
You're assuming if the wheels fall off Circle will be around to pay you back.
3 comments
T-A 1950 days ago
USDC is audited monthly to verify that it's backed by real dollars. The reports are public:

https://www.centre.io/usdc-transparency

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arcticbull 1950 days ago
Totally, just a minor quibble, they don't have audits, they have attestations. That's not the same thing, it's much less detailed. I'm not particularly worried about the existence of their backing assets, however, it's just worth noting.

I was referring to the Circle entity in the event of a wheels-come-off situation.

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bouncycastle 1950 days ago
Which part of "don't do this" you didn't understand?
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arcticbull 1950 days ago
"Of course, I do not expect USDT imploding anytime soon, so don't do this" doesn't suggest anything about counterparty risk with USDC.
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bouncycastle 1950 days ago
USDC is an example, it's not necessary that you use USDC, there are a few other currencies that can be used for collateral and swapped in to while you wait. Let's be clear: "Do not do this" means do not do this in whatever variation.
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gomox 1950 days ago
Why wouldn't they be?
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