Bitcoin
Bitcoin (BTC)
$68,213.00 8.05583
Bitcoin price
Ethereum
Ethereum (ETH)
$3,627.52 4.00043
Ethereum price
BNB
BNB (BNB)
$418.43 0.96275
BNB price
Solana
Solana (SOL)
$133.03 1.82867
Solana price
XRP
XRP (XRP)
$0.6486300 3.41482
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000362 60.35844
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000071 18.83412
Pepe price
Bonk
Bonk (BONK)
$0.0000377 40.37228
Bonk price
Bitcoin
Bitcoin (BTC)
$68,213.00 8.05583
Bitcoin price
Ethereum
Ethereum (ETH)
$3,627.52 4.00043
Ethereum price
BNB
BNB (BNB)
$418.43 0.96275
BNB price
Solana
Solana (SOL)
$133.03 1.82867
Solana price
XRP
XRP (XRP)
$0.6486300 3.41482
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000362 60.35844
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000071 18.83412
Pepe price
Bonk
Bonk (BONK)
$0.0000377 40.37228
Bonk price
Bitcoin
Bitcoin (BTC)
$68,213.00 8.05583
Bitcoin price
Ethereum
Ethereum (ETH)
$3,627.52 4.00043
Ethereum price
BNB
BNB (BNB)
$418.43 0.96275
BNB price
Solana
Solana (SOL)
$133.03 1.82867
Solana price
XRP
XRP (XRP)
$0.6486300 3.41482
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000362 60.35844
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000071 18.83412
Pepe price
Bonk
Bonk (BONK)
$0.0000377 40.37228
Bonk price
Bitcoin
Bitcoin (BTC)
$68,213.00 8.05583
Bitcoin price
Ethereum
Ethereum (ETH)
$3,627.52 4.00043
Ethereum price
BNB
BNB (BNB)
$418.43 0.96275
BNB price
Solana
Solana (SOL)
$133.03 1.82867
Solana price
XRP
XRP (XRP)
$0.6486300 3.41482
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000362 60.35844
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000071 18.83412
Pepe price
Bonk
Bonk (BONK)
$0.0000377 40.37228
Bonk price

Circle releases an updated accountant-verified proof-of-reserve report 

circle-releases-an-updated-accountant-verified-proof-of-reserve-report
Edited by
News
Circle releases an updated accountant-verified proof-of-reserve report 

USDC stablecoin issuer Circle has drafted an updated proof-of-reserve report showing more than $44.5 billion worth of tokens are currently in circulation.

USDC’s released December 2022 proof-of-reserve report was reportedly audited by a third-party accounting and auditing firm, Grant Thornton group. According to the PoR report, the December snapshot shows that Circle had 44,553,543,212 USDC backed by $44,693,963,701 US dollars present in the custody wallets of the company.

The weekly USDC proof-of-reserve breakdown on the firm’s official website indicates that a snapshot taken on Jan. 26 shows the total amount of USDC tokens in circulation is 43.2 billion, and USDC reserves settle at $43.4 billion. According to the report, most of the fiat collateral is invested in US treasury bonds. Out of these figures, the cash held in reserve banks is $9.7 billion, and the remaining $33.8 billion is currently in short-dated US treasury bonds.

Circle invests in treasury bonds

Timothy Singh, Circle’s VP of accounting, also confirmed that the total value of collateral fiat in the reserves is a combination of USD-denominated assets and a mixture of cash and government-issued bonds.

On Jan. 8, Circle’s attestation report showed that 30% of USDC’s reserves were under the company’s money market fund, Circle Reserve Fund, managed by BlackRock. Circle’s close ties with the New York-based multinational investment company began when Circle was under development. According to monetary expert John Paul Koning, the funds were allocated to the investment firm post-Oct. last year.

BlackRock allegedly invested $400 million in the company during its start-up phase, which is currently one of its clients contributing to the total $8 trillion under management.

Follow Us on Google News