Circle releases audit, affirming their stablecoin

17 Jan, 2019
by Arthur Sillers
Circle releases audit, affirming their stablecoin

The stablecoin Circle (USDC) has been fully audited, and according to an attestation released by the company which launched it, Circle.

Tether, which long stood as the top stablecoin, has had some controversy surrounding its claim that it has each and every USDT coin backed up in fiat currency. This controversy has knocked down excitement over stablecoins, but competitors have begun to take USDT's place, and with them commentors are becoming interested in stablecoin's possibilities again.

Read more: Does Tether really have $1.8 Billion back up funds? New report casts doubts

Circle’s audit, conducted by the Grant Thornton LLP accounting firm, directly states ‘As of the Report Date and Time, the issued and outstanding USDC tokens do not exceed the balance of the US Dollars held in custody accounts.’ While this is certainly a positive announcement for Circle itself, it also will bolster stablecoins in general, which some have pointed to as the hopeful agent to bring another wave of crypto adoption.

Speaking to Cointelegraph, Luzius Meisser of the Swiss Blockchain Association, stated ‘Stablecoins are a precondition to enable average companies to bring their equity onto the blockchain.’ His point was essentially that because companies calculate their revenue and operations in fiat currency, introducing unstable cryptocurrency creates a number of difficulties. Stablecoins, by contrast, offer an easy go-between for companies to digitize their money.

At that point, its a much smaller commitment to start trading in more traditional cryptocurrencies. If private companies began digitizing their equity, it would buoy the crypto market back to former highs.

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Now let's see will USDC audit receive the same amount of critics as received Tether audit.
17 Jan, 2019 - 22:09
this audit is not a real one. fake audit is not a good idea.
21 Jan, 2019 - 07:07
In this article there is no evidence of the validity of the USDC audit. Do you want people believe just written words no facts?
22 Jan, 2019 - 09:07
There are a lot of critics here because no facts that USDC is not a fake audit
22 Jan, 2019 - 21:32
Oh please, this is not a real audit of usdc. It's all paid for as ususal.
17 Jan, 2019 - 22:52
It is paid as usual, lol
They are doing it because they have to attract users
18 Jan, 2019 - 09:13
You are sure. USDC is a shit but if you have a lot of money you can pay the audit lol
22 Jan, 2019 - 09:30
the usually do so. this audit is fake I agree with you
23 Jan, 2019 - 06:38
All the facts indicate fake. I do not see evidence of the veracity of the USDC audit
26 Jan, 2019 - 08:26
coz there is no faithful representation of the usdc audit
29 Jan, 2019 - 20:00
Do you think that could be otherwise? Knowing what Circle is I will never believe in the quality of USDC audit
03 Feb, 2019 - 20:36
of course
dont make us fools we know the real truth
sure no audit for usdc, another trap
18 Jan, 2019 - 12:15
nice to see users who undertend tricks from circle
25 Jan, 2019 - 21:31
honestly, i don't trust Circle. i think it released the fake news not to loose the position on the market and nothing else
20 Jan, 2019 - 20:01
are you f..king kidding me ?) I can compare Circle and audit as the dancer and a sales manager ) i mean there is no connection between Circle and real audit providing )
20 Jan, 2019 - 20:47
don't make me laugh ) I will never believe that Circle provides the credible audit)
i don't believe this shitcoin is capable of doing this )
20 Jan, 2019 - 21:39
hahah. but at the same time they claim tether on the fake audit.. no idea what to say now
30 Jan, 2019 - 09:27
Circle management is ready to provide any fake news to attract the market attention. it's very simple- fake coin and fake auidt
20 Jan, 2019 - 22:04
Circle did not do anything to earn the trust of people but provided the real audit )
that's not serious and reliable information. it's only the attempt to make a hype
20 Jan, 2019 - 22:21
Circle can only release not audit but fake news. that's the think what it does very well
21 Jan, 2019 - 20:43
Circle can release not audit but fake news. this is the main thing it can do
21 Jan, 2019 - 20:43
Immediately it is clear that this article was paid for, it is very suspicious to write bad things about Tether and good things about Usdc in one article
21 Jan, 2019 - 21:40
it seems like a good fairy tale about Circle and audit. but i don't believe such stories. circle is a fake
21 Jan, 2019 - 22:19
I really don’t like this whole topic about USDC, especially the fact that the audit is conducted by the company where Neil Malavsky worked earlier (the current employee of one of Coinbase company)
21 Jan, 2019 - 23:15
Circle did not provide any credible evidence. such information is only confirmed by just words.
22 Jan, 2019 - 20:09
I am sure that Neil still has contacts in the auditing company, which helped falsify the audit results USDC
22 Jan, 2019 - 20:42
I need more facts for believing in USDC audit.
22 Jan, 2019 - 20:55
most of the stables have not been audited, and you don’t even want to hear about this fake "circle" lul
22 Jan, 2019 - 22:48
Don't think that crypto can be audited "normally". There will be questions anyway. But yes, especially circle's coin. The check was not made by a third party at all. Was made by some guys they know.
23 Jan, 2019 - 08:36
USDC audit is one big lie! It became possible because of connections between Coinbase, Circle and Grant Thornton. And moreover former Grant Thornton employee joined Coinbase team.
23 Jan, 2019 - 21:46
An absolutely fake audit. Its like if i asked my friends to not tell my mom that I really smoke.
24 Jan, 2019 - 09:49
I read an article the other day that the Circle is directly related to the USD-C and that it is impossible to believe their audit
24 Jan, 2019 - 12:44
Facts, facts, facts! We need the facts! Only a presence of really good evidence will prove a veracity of the USDC audit.
25 Jan, 2019 - 00:08
USDC audit is a big lie?
25 Jan, 2019 - 21:47
I don`t believe Circle and USDC. Why? People need a real audit. Please if you want to be transparent you should bring 2-3 audit companies and independent experts to conduct an audit. Document it all and then it will be true.
26 Jan, 2019 - 00:04
Are Circle mocks? This is not a true USDC audit it is a fake that is not confirmed by anything.
27 Jan, 2019 - 10:04
i have never seen the confirmation of any just words said by circle management
not once.
this case is no different.
27 Jan, 2019 - 17:53
it is better and more safw to use Tether instead
28 Jan, 2019 - 00:34
Fake news, fake audit, fake USDC.
29 Jan, 2019 - 16:31
One more fake USDC audit with no facts? I'm excited by Circle (no)
31 Jan, 2019 - 09:09
yes this is true. i am sick and tired of the fake usdc and everything connected to it
09 Feb, 2019 - 03:09
I'm tired of fake audits! Circle call me plz if you will decide to conduct a real USDC audit
31 Jan, 2019 - 09:43
Yet another audit that in a months will be questioned by all reporters. Unless of course circle is ready to bribe all of them, it's their kind of thing now.
02 Feb, 2019 - 09:29
OMG these f*cking fake audits. Circle, why you don`t understand that a true USDC audit must be made using 3 audit company at least???
02 Feb, 2019 - 09:35
haha this usdc audit
it exactly shows their non-responsible attitude to it
07 Feb, 2019 - 18:03
that audit was too fake to show real assets of the USDC. if circle would decide to arrange real audit then we would be surprised with real figures of the financial situation of the USDC
08 Feb, 2019 - 08:30
if there were so many negative comments about tether independent audit then people should be very sceptical about usdc audit because definitely it does not show real figures about this scam asset
09 Feb, 2019 - 11:47
old info, we know about fake audit of USDC
26 Feb, 2019 - 14:55

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