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TL;DR
Circle, the corporate behind the USDC stablecoin, is attempting to go public.
From a important perspective – certain, Circle is a regulated personal firm…however so was FTX.
By going public, Circle will likely be put underneath higher scrutiny and drastically cut back its “belief me, bro” issue.
Full Story
We’re at all times seeking to cut back our reliance on “belief me, bro” data, within the crypto world.
The extra transparency and third-party oversight a undertaking has, the extra reliable it turns into.
The identical method airways are regulated by authorities our bodies, to make sure all of them meet protected upkeep schedules and so on.
(However even that is not a assure of security).
And that is why this information story is thrilling us…
Circle, the corporate behind the USDC stablecoin, is attempting to go public.
Which appears like a complete snooze fest on the floor – however there’s extra to it!
Circle matches its USDC token to the value of the US greenback, by proudly owning a bunch of (you guessed it) US {dollars}.
When you purchase USDC → Circle makes use of that cash to purchase US {dollars}…
That, and greenback equivalents, like:
Company bonds, municipal bonds, and U.S. Treasuries (that are all basically extremely dependable IOU’s that return a yield to Circle).
That yield is how Circle makes cash from USDC.
A minimum of, that is how the corporate claims to make its cash…
From a important perspective – certain, Circle is a regulated personal firm…however so was FTX.
By going public, Circle will likely be put underneath higher scrutiny and drastically cut back its “belief me, bro” issue.
(Let’s simply hope the SEC permits the general public itemizing to occur).
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