Circle's most recent attestation report shows 30% of USDC's reserves – or $12.79 billion – are invested in its government money market fund, the Circle Reserve Fund, managed by BlackRock. This is up from 0% in October.
https://twitter.com/jp_koning/status/1612087428369498112?
Topic: Stablecoins and Blacklists - page 2. (Read 1333 times)
https://academy.binance.com/en/articles/what-is-busd
What Is BUSD?
Updated Dec 28, 2022
BUSD is a regulated, fiat-backed stablecoin pegged to the U.S. dollar. For every unit of BUSD, there is one U.S. dollar held in reserve. In other words, the supply of BUSD is pegged to the U.S. dollar at a 1:1 ratio. Holders can swap their tokens for fiat and vice versa. Paxos, the token’s issuer, releases monthly attestations of BUSD’s reserves.
What Is BUSD?
Updated Dec 28, 2022
BUSD is a regulated, fiat-backed stablecoin pegged to the U.S. dollar. For every unit of BUSD, there is one U.S. dollar held in reserve. In other words, the supply of BUSD is pegged to the U.S. dollar at a 1:1 ratio. Holders can swap their tokens for fiat and vice versa. Paxos, the token’s issuer, releases monthly attestations of BUSD’s reserves.
https://tether.to/en/tether-addresses-fud-around-secured-loans-reveals-plans-to-reduce-these-to-zero-in-2023/
"Understandably, after the events that have unfolded this year, the company recognizes that it is mission critical to restore faith in the market. Today, in addition to dismissing the recent cycle of Tether FUD that’s hitting the rumor mill, Tether is announcing starting from now, throughout 2023, it will reduce secured loans in Tether’s reserves to zero."
"Understandably, after the events that have unfolded this year, the company recognizes that it is mission critical to restore faith in the market. Today, in addition to dismissing the recent cycle of Tether FUD that’s hitting the rumor mill, Tether is announcing starting from now, throughout 2023, it will reduce secured loans in Tether’s reserves to zero."
https://www.theblock.co/post/189140/curve-releases-whitepaper-and-official-code-for-its-stablecoin
"Curve releases whitepaper and official code for its stablecoin
The official code and whitepaper of Curve Finance’s stablecoin called crvUSD has been released.
The overcollaterized stablecoin will rely on a algorithm called Lending-Liquidating AMM (LLAMMA)."
"Curve releases whitepaper and official code for its stablecoin
The official code and whitepaper of Curve Finance’s stablecoin called crvUSD has been released.
The overcollaterized stablecoin will rely on a algorithm called Lending-Liquidating AMM (LLAMMA)."
https://tether.to/en/tether-proves-resilience-of-reserves-in-latest-attestation/
Tether Proves Resilience of Reserves in Latest Attestation
"You can read the latest assurance opinion and the Consolidated Reserves Report: https://assets.ctfassets.net/vyse88cgwfbl/1Xfu4398CIoMiuKjPhvnHM/6d1608c90bb775d2d432b7b24264da28/ESO.02_Std_ISAE_3000R_Opinion_30-9-2022_RC134792022BD0548.pdf
The Management of the Company asserts the following as of 30 September 2022:
The Group’s consolidated total assets amount to at least US$ 68,061,618,458.
The Group’s consolidated total liabilities amount to US$ 67,811,510,720, of which US$67,805,112,981 relates to digital tokens issued.
The Group’s consolidated assets exceed its consolidated liabilities."
Tether Proves Resilience of Reserves in Latest Attestation
"You can read the latest assurance opinion and the Consolidated Reserves Report: https://assets.ctfassets.net/vyse88cgwfbl/1Xfu4398CIoMiuKjPhvnHM/6d1608c90bb775d2d432b7b24264da28/ESO.02_Std_ISAE_3000R_Opinion_30-9-2022_RC134792022BD0548.pdf
The Management of the Company asserts the following as of 30 September 2022:
The Group’s consolidated total assets amount to at least US$ 68,061,618,458.
The Group’s consolidated total liabilities amount to US$ 67,811,510,720, of which US$67,805,112,981 relates to digital tokens issued.
The Group’s consolidated assets exceed its consolidated liabilities."
https://www.circle.com/en/pressroom/circle-to-bring-euro-coin-and-cross-chain-transfer-protocol-to-solana-in-early-2023
Circle to Bring Euro Coin and Cross-Chain Transfer Protocol to Solana in Early 2023
"LISBON, BOSTON, November 6, 2022 — On stage at Solana Breakpoint today, Circle, a global digital financial technology firm and the issuer of USD Coin (USDC) and Euro Coin, announced plans to expand native support of Euro Coin and access to their new permissionless cross-chain infrastructure, Cross-Chain Transfer Protocol, on Solana in the first half of 2023. The announcement marks the company’s first in a series of intended commitments to provide expanded support for both initiatives since their respective launch announcements in June and September. "
Circle to Bring Euro Coin and Cross-Chain Transfer Protocol to Solana in Early 2023
"LISBON, BOSTON, November 6, 2022 — On stage at Solana Breakpoint today, Circle, a global digital financial technology firm and the issuer of USD Coin (USDC) and Euro Coin, announced plans to expand native support of Euro Coin and access to their new permissionless cross-chain infrastructure, Cross-Chain Transfer Protocol, on Solana in the first half of 2023. The announcement marks the company’s first in a series of intended commitments to provide expanded support for both initiatives since their respective launch announcements in June and September. "
https://www.coindesk.com/policy/2022/10/31/us-tether-bank-fraud-investigation-changes-hands-within-the-doj-report/
US Tether Bank Fraud Investigation Changes Hands Within the DOJ: Report
"The U.S. Attorney’s Office for the Southern District of New York will now be handling the investigation, Bloomberg reported Monday.
A criminal investigation into whether Tether’s executives committed bank fraud in the early days of the stablecoin issuer’s existence has been reassigned after months of stagnation, according to Bloomberg.
The Department of Justice’s (DOJ) probe will now be led by U.S. Attorney Damian Williams in the Southern District of New York (SDNY), Bloomberg said, citing people familiar with the matter."
US Tether Bank Fraud Investigation Changes Hands Within the DOJ: Report
"The U.S. Attorney’s Office for the Southern District of New York will now be handling the investigation, Bloomberg reported Monday.
A criminal investigation into whether Tether’s executives committed bank fraud in the early days of the stablecoin issuer’s existence has been reassigned after months of stagnation, according to Bloomberg.
The Department of Justice’s (DOJ) probe will now be led by U.S. Attorney Damian Williams in the Southern District of New York (SDNY), Bloomberg said, citing people familiar with the matter."
https://twitter.com/justinsuntron/status/1580091236916289538?
"Dominica 🇩🇲 is the first country in the world to designate blockchain as their national infrastructure and it is #TRON. I changed my name ticker into Dominica 🇩🇲flag. I may suggest to move
@HuobiGlobal
exchange to Dominica as the national exchange 😎"
Dominica Selects TRON as its National Blockchain to Issue the Country's Official Coin
https://www.benzinga.com/content/29229647/dominica-selects-tron-as-its-national-blockchain-to-issue-the-countrys-official-coin
"Dominica 🇩🇲 is the first country in the world to designate blockchain as their national infrastructure and it is #TRON. I changed my name ticker into Dominica 🇩🇲flag. I may suggest to move
@HuobiGlobal
exchange to Dominica as the national exchange 😎"
Dominica Selects TRON as its National Blockchain to Issue the Country's Official Coin
https://www.benzinga.com/content/29229647/dominica-selects-tron-as-its-national-blockchain-to-issue-the-countrys-official-coin
https://blog.coin98.com/introducing-cusd/
Introducing CUSD - The Next Liquidity Solution for The Cross-chain Economy
"Coin98 is excited to roll out CUSD, the decentralized stablecoin of Coin98 ecosystem.
Today, we are excited to introduce the next building block in our ecosystem - a brand new unit of account for the cross-chain economy - the Coin98 Dollar, also known as CUSD."
____________
by Tether | Oct 13 2022
Tether Slashes Commercial Paper to Zero
https://tether.to/en/tether-slashes-commercial-paper-to-zero/
Introducing CUSD - The Next Liquidity Solution for The Cross-chain Economy
"Coin98 is excited to roll out CUSD, the decentralized stablecoin of Coin98 ecosystem.
Today, we are excited to introduce the next building block in our ecosystem - a brand new unit of account for the cross-chain economy - the Coin98 Dollar, also known as CUSD."
____________
by Tether | Oct 13 2022
Tether Slashes Commercial Paper to Zero
https://tether.to/en/tether-slashes-commercial-paper-to-zero/
https://www.coindesk.com/markets/2022/09/13/crypto-lender-maker-turns-to-staked-ether-to-reduce-usdc-influence/
"Crypto lending platform Maker, the world's largest decentralized-finance (DeFi) app, doubled the debt ceiling of its staked ether (stETH) vault this week as it looks to reduce its reliance on centralized stablecoins after Centre, the issuer of USD coin (USDC), blacklisted 38 addresses linked to sanctioned crypto tool Tornado Cash.
More than 34% of all assets locked on USDC are locked on Maker, and the tokens are the single-largest source of collateral that backs DAI, Maker’s native decentralized stablecoin pegged to the U.S. dollar. Approval of the proposal to raise the ceiling to $200 million allows more stETH to be deposited against DAI, reducing USDC’s influence."
"Crypto lending platform Maker, the world's largest decentralized-finance (DeFi) app, doubled the debt ceiling of its staked ether (stETH) vault this week as it looks to reduce its reliance on centralized stablecoins after Centre, the issuer of USD coin (USDC), blacklisted 38 addresses linked to sanctioned crypto tool Tornado Cash.
More than 34% of all assets locked on USDC are locked on Maker, and the tokens are the single-largest source of collateral that backs DAI, Maker’s native decentralized stablecoin pegged to the U.S. dollar. Approval of the proposal to raise the ceiling to $200 million allows more stETH to be deposited against DAI, reducing USDC’s influence."
https://cointelegraph.com/news/0-3-fall-in-assets-could-render-tether-technically-insolvent-wsj
0.3% fall in assets ‘could render Tether technically insolvent:’ WSJ
https://www.wsj.com/articles/tether-says-audit-is-still-months-away-as-crypto-market-falters-11661568971
Tether Says Audit Is Still Months Away as Crypto Market Falters
0.3% fall in assets ‘could render Tether technically insolvent:’ WSJ
https://www.wsj.com/articles/tether-says-audit-is-still-months-away-as-crypto-market-falters-11661568971
Tether Says Audit Is Still Months Away as Crypto Market Falters
Are you saying that all these blocked addresses are legit USdT users? I doubt that because I know usdt users with large amount of money and their address never get blocked, I suspect that affected users are into illegal stuffs.
I know no more about the reasons for blocking wallets than you do. This information is private.Tether hasn't had an audit report for many years, and from this audit report we can see that they do business with the US because they hold almost half of their assets in US Treasury.
https://assets.ctfassets.net/vyse88cgwfbl/2xJyKdUKicdRUWpC9buRWR/544a579335ae65ed0e08c162c5a2c5d9/Std_ISAE_3000R_Opinion_30-6-2022_RC134792022BD0303.pdf
one of the blocked addresses
https://bitcointalksearch.org/topic/take-money-170000-5407489
____
https://cointelegraph.com/news/stablecoin-issuers-hold-more-us-debt-than-berkshire-hathaway-report
Stablecoin issuers hold more US debt than Berkshire Hathaway: Report
"Tether, Circle and other stablecoin firms held $80 billion worth of short-term U.S. government debt as of May 2022, more than owned by Warren Buffett’s Berkshire Hathaway."
Are you saying that all these blocked addresses are legit USdT users? I doubt that because I know usdt users with large amount of money and their address never get blocked, I suspect that affected users are into illegal stuffs.
https://tether.to/en/tether-releases-independent-auditor-report-from-top-5-accounting-firm-bdo-reinforcing-its-dedication-to-transparency-and-revealing-another-major-cut-to-commercial-paper-holdings/
"The Management of the Company asserts the following as of 30 June 2022:
The Group’s consolidated total assets amount to at least US$ 66,409,619,424.
The Group’s consolidated total liabilities amount to US$66,218,725,778, of which US$ 66, 204,234,509 relates to digital tokens issued.
The Group’s consolidated assets exceed its consolidated liabilities.
The total gross consolidated contractual redemption value related to all digital tokens issued, including those held by the Group is equal to US$ 66,430,393,253.
The consolidated amount related to digital tokens held by the Group but not in its treasury wallet is equal to US$ 226,158,744."
https://assets.ctfassets.net/vyse88cgwfbl/2xJyKdUKicdRUWpC9buRWR/544a579335ae65ed0e08c162c5a2c5d9/Std_ISAE_3000R_Opinion_30-6-2022_RC134792022BD0303.pdf
Tether management said that such reports would be released monthly.
"The Management of the Company asserts the following as of 30 June 2022:
The Group’s consolidated total assets amount to at least US$ 66,409,619,424.
The Group’s consolidated total liabilities amount to US$66,218,725,778, of which US$ 66, 204,234,509 relates to digital tokens issued.
The Group’s consolidated assets exceed its consolidated liabilities.
The total gross consolidated contractual redemption value related to all digital tokens issued, including those held by the Group is equal to US$ 66,430,393,253.
The consolidated amount related to digital tokens held by the Group but not in its treasury wallet is equal to US$ 226,158,744."
https://assets.ctfassets.net/vyse88cgwfbl/2xJyKdUKicdRUWpC9buRWR/544a579335ae65ed0e08c162c5a2c5d9/Std_ISAE_3000R_Opinion_30-6-2022_RC134792022BD0303.pdf
Tether management said that such reports would be released monthly.
https://www.theblock.co/post/164272/tether-bdo-italia-partnership-usdt-reserve-attestations
"Stablecoin issuer Tether announced Thursday that it has partnered with BDO Italia, the Italian arm of the world's fifth largest accounting firm, to issue assurance and attestation reports of its reserves.
Tether has previously worked with two Cayman Islands-based accounting firms, Moore Cayman and MHA Cayman. Tether's BDO Italia partnership means it will no longer work with Moore and MHA, the company told The Block. The Block could not immediately reach out to BDO Italia for a comment."
"Stablecoin issuer Tether announced Thursday that it has partnered with BDO Italia, the Italian arm of the world's fifth largest accounting firm, to issue assurance and attestation reports of its reserves.
Tether has previously worked with two Cayman Islands-based accounting firms, Moore Cayman and MHA Cayman. Tether's BDO Italia partnership means it will no longer work with Moore and MHA, the company told The Block. The Block could not immediately reach out to BDO Italia for a comment."
Uncharted | The Responsibility of Trust
https://www.circle.com/blog/the-responsibility-of-trust
"On Monday, August 8 the systems we have in place to comply with applicable law and government regulations worked. Centre, the consortium behind USDC, followed the U.S. Treasury sanctions against Tornado Cash and blocked the related addresses.
Circle also complied with these sanctions and blocked the addresses on our platform, cutting off USDC access from Circle Accounts to and from the Tornado Cash sanctioned addresses. We expect that nearly every responsible digital asset service provider in the world has also followed suit and blocked access to Tornado Cash addresses. "
https://www.circle.com/blog/the-responsibility-of-trust
"On Monday, August 8 the systems we have in place to comply with applicable law and government regulations worked. Centre, the consortium behind USDC, followed the U.S. Treasury sanctions against Tornado Cash and blocked the related addresses.
Circle also complied with these sanctions and blocked the addresses on our platform, cutting off USDC access from Circle Accounts to and from the Tornado Cash sanctioned addresses. We expect that nearly every responsible digital asset service provider in the world has also followed suit and blocked access to Tornado Cash addresses. "
https://www.circle.com/blog/providing-greater-transparency?
Circle continues enhancing our transparency and today we shared a detailed look at the assets backing the USDC reserve.
https://twitter.com/circlepay/status/1547648398374817792?
"The USDC reserve is held solely in cash and 3-month U.S. Treasuries, held in segregated accounts for the benefit of USDC holders, and is entirely separate from Circle’s operations. The USDC reserve is subject to all the same protections under U.S. state and federal law as afforded to other large scale payments innovators entrusted by millions of customers with tens of billions of dollars of customer assets"
0Reports/USDC%20Reserve%20Breakdown_June.pdf
___________________________________
Jul 27 2022
https://tether.to/en/tether-combats-false-information-to-preserve-the-reputation-of-the-cryptocurrency-ecosystem/
Tether Combats False Information to Preserve the Reputation of the Cryptocurrency Ecosystem
"Plain and simple.
Tether’s portfolio holds no Chinese commercial paper and as of today, its total commercial paper exposure has been reduced yet again to a mere ~3.7B (from 30B in July 2021) with plans to further decrease to ~200M by the end of August 2022 and to zero by end of October/early November 2022."
Circle continues enhancing our transparency and today we shared a detailed look at the assets backing the USDC reserve.
https://twitter.com/circlepay/status/1547648398374817792?
"The USDC reserve is held solely in cash and 3-month U.S. Treasuries, held in segregated accounts for the benefit of USDC holders, and is entirely separate from Circle’s operations. The USDC reserve is subject to all the same protections under U.S. state and federal law as afforded to other large scale payments innovators entrusted by millions of customers with tens of billions of dollars of customer assets"
0Reports/USDC%20Reserve%20Breakdown_June.pdf
___________________________________
Jul 27 2022
https://tether.to/en/tether-combats-false-information-to-preserve-the-reputation-of-the-cryptocurrency-ecosystem/
Tether Combats False Information to Preserve the Reputation of the Cryptocurrency Ecosystem
"Plain and simple.
Tether’s portfolio holds no Chinese commercial paper and as of today, its total commercial paper exposure has been reduced yet again to a mere ~3.7B (from 30B in July 2021) with plans to further decrease to ~200M by the end of August 2022 and to zero by end of October/early November 2022."
https://tether.to/ru/tether-discloses-celsius-loan-liquidation-process
Tether Discloses Celsius' Loan Liquidation Process
"While Tether’s portfolio does include an investment in Celsius, representing a minimal part of its shareholder’s equity, there is no correlation between this investment and Tether’s own reserves or stability. The Tether loan that was taken out by Celsius was an overcollateralized loan denominated in BTC (130%+), and the decision to liquidate the collateral to cover the loan was a part of the original terms of the agreement between the two entities and reconfirmed in writing before the start of the liquidation event. This process was carried out in a way to minimise as much as possible any impact on the markets and in fact, once the loan was covered, Tether returned the remaining part to Celsius as per its agreement. Celsius position has been liquidated with no losses to Tether."
Tether Discloses Celsius' Loan Liquidation Process
"While Tether’s portfolio does include an investment in Celsius, representing a minimal part of its shareholder’s equity, there is no correlation between this investment and Tether’s own reserves or stability. The Tether loan that was taken out by Celsius was an overcollateralized loan denominated in BTC (130%+), and the decision to liquidate the collateral to cover the loan was a part of the original terms of the agreement between the two entities and reconfirmed in writing before the start of the liquidation event. This process was carried out in a way to minimise as much as possible any impact on the markets and in fact, once the loan was covered, Tether returned the remaining part to Celsius as per its agreement. Celsius position has been liquidated with no losses to Tether."
https://cointelegraph.com/news/tether-cto-refutes-stablecoin-fud-as-short-sellers-circle
https://twitter.com/paoloardoino/status/1541418818664292355?
"Tether CTO refutes stablecoin FUD as short-sellers circle
Paolo Ardoino alleged some hedge funds are trying to create pressure “in the billions” to “harm Tether liquidity” so that they can eventually buy back tokens at a much lower price."
USDT and USDC are less safe than other crypto projects on Ethereum like DAI and 0xMR because they can blacklist wallets and freeze tokens. Be careful using stablecoins. I'm curious to see if stablecoins will have similar functionality on other chains like the internet computer when they officially launch DeFi. https://twitter.com/paoloardoino/status/1541418818664292355?
"Tether CTO refutes stablecoin FUD as short-sellers circle
Paolo Ardoino alleged some hedge funds are trying to create pressure “in the billions” to “harm Tether liquidity” so that they can eventually buy back tokens at a much lower price."
https://cointelegraph.com/news/tether-cto-refutes-stablecoin-fud-as-short-sellers-circle
https://twitter.com/paoloardoino/status/1541418818664292355?
"Tether CTO refutes stablecoin FUD as short-sellers circle
Paolo Ardoino alleged some hedge funds are trying to create pressure “in the billions” to “harm Tether liquidity” so that they can eventually buy back tokens at a much lower price."
https://twitter.com/paoloardoino/status/1541418818664292355?
"Tether CTO refutes stablecoin FUD as short-sellers circle
Paolo Ardoino alleged some hedge funds are trying to create pressure “in the billions” to “harm Tether liquidity” so that they can eventually buy back tokens at a much lower price."
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