1/3 The risk may not only be for Tether (USDT) but for USD Coin (USDC). There is still no Dec 2020 attestation for USDC (see https://centre.io/usdc-transparency) and normally the accounting firm Grant Thornton issues the monthly attestation in the middle of the month following.
Centre | USD Coin

View monthly attestation reports on the USD reserve balances of stablecoin issuers.

https://centre.io/usdc-transparency
2/3 They are now more than two weeks late compared to their usual schedule. This is worrying considering that for the last attestation for 30 Nov 2020 ( https://www.centre.io/pdfs/attestation/grant-thornton_circle_usdc_reserves_20201216.pdf), the USD Coin held in custody accounts was 3,004,921,958 USD to back 3,002,021,340 USDC.
3/3 However since then the market cap of USDC as per https://coinmarketcap.com/currencies/usd-coin/ has more than doubled to 6,177,111,478 USDC in the past just over two months.
USD Coin price today, USDC marketcap, chart, and info | CoinMarketCap

Get the latest USD Coin price, USDC market cap, trading pairs, charts and data today from the world’s number one cryptocurrency price-tracking website

https://coinmarketcap.com/currencies/usd-coin/
You can follow @knmjohansson.
Tip: mention @twtextapp on a Twitter thread with the keyword “unroll” to get a link to it.

Latest Threads Unrolled:
Those who think consciousness raising & movement building are disconnected, or even a distraction from electoral politics have not paid attention to the history of social change.In this thread, we
Read more
The 2020s will be known as the Remote Work decadeA few predictions of what is likely to emerge[ a thread ] Third Space: Office and Working from Home will
Read more
1/29: Have you ever had a concept explained to you that helps frame complex issues you’ve been wrestling with and opens your eyes to new possibilities? A concept that I
Read more
By continuing to use the site, you are consenting to the use of cookies as explained in our Cookie Policy to improve your experience.