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Goldman-funded startup Circle released a report that indicates the company behind US dollar-pegged stablecoin USDC does possess sufficient capital to back each individual token on a 1:1 basis.
The attestation of conformity, issued by the accounting firm Grant Thornton LLP, demonstrates that Circle held — at one point — fiat reserves that are slightly above the number of issued and outstanding USDC tokens in circulation.
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Founded in Chicago in 1924, Grant Thornton is the U.S. arm of UK-based Grant Thornton International Ltd, a top five ... (read more)