Kiffmeister’s #Fintech Daily Digest (12/24/2021)

USDC Now Backed Only By Cash and Treasury Bills

The fine print in Circle’s end-November attestation report for USDC stablecoins says that it no longer owns non-government cash equivalents (i.e., commercial paper). Only cash and Treasury Bills are being used to back USDC (see below). [H/T JP Koning]

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