Cryptocurrency Q&A
Is USDC 100% backed?
Is USDC 100% backed?
SakuraFestival
Mon May 13 2024
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5 answers
1125
Could you please clarify, is USDC fully collateralized and backed 100%? I've heard differing opinions on this matter, and I'm trying to get a clear understanding of the asset's underlying mechanisms. Is there any risk associated with the backing of USDC, or is it completely secure and without any vulnerabilities? It would be helpful if you could provide some insight into the collateralization process and how it ensures the stability of USDC. Thank you for your time and assistance in this matter.
5 answers
CryptoBaroness
Wed May 15 2024
Developer Circle made a significant announcement recently regarding the backing of its tokens.
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SsamziegangSerenadeMelody
Wed May 15 2024
According to the revelation, only 61% of the tokens issued by Circle are backed by "cash and cash equivalents."
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Silvia
Tue May 14 2024
This terminology refers to cash holdings and money-market funds, which are considered liquid and low-risk assets.
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CryptoNinja
Tue May 14 2024
The remaining portion of tokens, however, is not directly backed by such assets, raising questions about their true value and sustainability.
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benjamin_rose_author
Tue May 14 2024
BTCC, a UK-based cryptocurrency exchange, offers a range of services including spot trading, futures contracts, and wallet storage.
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