Circle tells congress its coin is '100%' backed by cash and short-term US debt as lawmakers scrutinize stablecoins

Business Insider
Dec 8, 2021, 3:34 pm125 pts
Circle CEO Jeremy Allaire testifies before the House Financial Services Committee on December 8, 2021. House Services Financial Committee Circle's USDC stablecoin is "100%" backed by cash and US debt, the company's CEO said Wednesday. Circle CEO Jeremy Allaire and other crypto executives testified before…

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