USD Coin (USDC) issuer Circle has released an accountant-verified report of its treasury reserve holdings backing more than $44.5 billion worth of tokens currently in circulation. Circle’s December 2022 reserve report, which was reviewed by GrantThornton accountancy group, breaks down the current make-up of the stablecoin issuer’s reserve vault. According to Circle, 44,553,543,212 USDC is currently backed by $44,693,963,701 U.S. dollars held in custody accounts. It is worth noting that a significant portion of the latter amount is invested in a variety of U.S. Treasury bonds. As per Circle’s VP of accounting Timothy Singh, the fair value of assets in
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Author: NixCoin